(MENAFN- America News Hour) Research Nester published a report titled
“rotomolding market : Global Demand Analysis & Opportunity Outlook 2033”
which delivers a detailed overview of the global rotomolding marketin terms of market segmentation by rotational molding machine, type, application, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market.
The global rotomolding market is projected to grow at a CAGR of ~6% by attaining noteworthy revenue during the forecast period, i.e., 2023 – 2033. Growing demand for rotomolding in the working plastic material products industry is anticipated to propel the growth of the market during the forecast period.
As of 2022, the plastic material products industry generated revenue of around USD 150 million. Additionally, significant utilization of rotomolding machines in agriculture is further estimated to propel the market growth over the forecast period.
The total agricultural export volume in the USA was projected to be nearly USD 150 billion in 2022.
Additionally, by rotational molding machine, the global rotomolding market is segmented into carousel, clamshell, rock & roll, shuttle, and up & over. Out of these sub-segments, the rock & roll segment is estimated to obtain the largest share in the market during the forecast period. The growth of the segment can be accounted to rising utilization of rotomolding to manufacture cooler and other types of tanks.
It is observed that in 2022, around 30 million units of the cooler were manufactured globally. the global rotomolding market, by region, is bifurcated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Out of these regions, the market in the Asia Pacific region is estimated to grow at a rapid pace over the forecast period on the back of an increment in infrastructure development projects and growing urbanization. Moreover, an expansion in the construction industry is further estimated to hike the market growth in the region over the forecast period.
The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report.
Increment in the Plastic Production to Foster the Growth of the Market
The global production of plastic across the globe was estimated to be nearly 350 million metric tons in 2020.
Plastic production is entirely based upon rotomolding technology since it can mold plastic products very precisely. The rotomolding technique is commonly applied on plastic known as polyethyleme. In 95% of polyethylene plastic production, rotomolding technology is used. Therefore, such a higher utilization is anticipated to propel the growth of the market during the forecast period.
However, the requirement for higher initial investment and constant need for costly maintenance is expected to operate as a key restraint to the growth of the global rotomolding market over the forecast period.
This report also provides the existing competitive scenario of some of the key players in the global rotomolding market which includes company profiling of Myers Industries, Inc.Ocean Plastic Intertrade Co., Ltd., A.G. Industries Pvt. Ltd., Rototek Limited,
Top Rotomolding Technology Co., Ltd, Ningbo Fly Plastic Co., Ltd., Yantai Fangda Rotational Molding Co.,Ltd, DUTCHLAND Quality Rotomolding Solutions, Cosmo Corporation Co., LTD. and Charloma, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global rotomolding market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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