Sarasota, FL -- (SBWire) -- 05/24/2017 --Zion Market Research, the market research group announced the analysis report titled "Plastomer Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Global Plastomer Market: Overview
A polymer material, which holds rubber-like properties of both the plastics and elastomers is known as a plastomer. It provides characteristics such as processability, flexibility, sealing, and compatibility solutions. The major raw material that is used in the plastomer is natural gas. Plastomer is used in the artificial turf, industrial liners, agricultural sector, and for recreational purposes. Automobiles, polymer modifications, and packaging are the key application areas of the plastomer.
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Global Plastomer Market: Growth Factors
Increasing popularity of plastomers in different applications such as packaging, polymer modification, and automotive is expected to drive the global plastomer market. The increasing demand from the packaging industry for the plastomers in the emerging economies will give rise to the growth of the market in the coming years. Plastomers provide improved toughness and better heat seal properties which anticipate fostering the growth of the market. High-quality packaging improves the shelf life of the food and beverages also it preserves their quality and freshness thus being used widely. Expanding packaging industry, rising population, changing lifestyle, and growing disposal income of the people are some of the factors that are boosting the market growth. However, production of the plastomers depends upon the natural gas or crude oil; the fluctuating prices of these raw materials restrain the global plastomer market to some extent.
Global Plastomer Market: Segmentation
The global plastomer market is bifurcated on the basis of application and region. The application segment of the market is classified into wires & cables, polymer modification, automotive, film-non-food packaging, medical, film-food packaging, film-stretch and shrink film. The film-food packaging industry is the leading consumer of the plastomer which include various applications such as stretch & shrink film, food, and non-food. Region wise, the global market is fragmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Global Plastomer Market: Regional Analysis
North America is expected to dominate the plastomer market globally in the coming years, which will be followed by Europe. Europe shows a significant growth in the market due to increasing investments in research and development in the packaging industries thus projecting to propel the growth of the market. Growing demand for the plastomers in Asia Pacific region is the major factor that is driving the growth and development of the plastomer market in this region. Various other factors influencing the market growth in this region are developing automobile, packaging industries, agricultural sector, industrial liners, and polymer modification sector. China is the largest consumer of the plastomers. Emerging economies such as Mexico, Korea, and India are expected to witness a strong market growth in the near future. Favorable growth in the evolving economies includes Mexico, Brazil, and China which positively strengthens the market.
Global Plastomer Market: Competitive Players
Major market players involved in the global plastomer market are Mitsui Chemicals, The Dow Chemical Company, SK Group, LG Chemicals Limited, and ExxonMobil. Other players include Sumitomo Corporation, Alpha Group, Borealis AG, Saudi Basic Industries Limited, and Plastomer Corporation.
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Global Plastomer Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa
Global Plastomer Market: Size, Trends, Industry Share and Forecast, 2016 – 2024
Increasing popularity of plastomers in different applications such as packaging, polymer modification, and automotive is expected to drive the global plastomer market.