Rotomolding Market Trends

Growth Drivers

• Significant Increment in Plastic Production as Use of Plastic is Increasing - As of 2020, the total production of plastic across the globe was anticipated to be around 350 million metric tons.

• Rotomolding technology is highly used in plastic production and product made with plastics. The most common type of plastic used in rotomolding is polyethylene making up around 95% of rotationally molded plastic products. Thereby, such utilization of rotomolding in plastic production is expected to push the market growth over the forecast period.

• Growing Demand for the Product in the Working Plastic Material Products Industry - The total revenue generated by the plastic material products industry was estimated to be approximately USD 150 million in 2022 and is anticipated to hit nearly USD 190 million by the year 2025 solely in Brazil.

• Rising Demand for the Product in the Edible Grocery Segment Owing to Increasing Purchase of Food Products - The sale of edible groceries amounted to approximately USD 2.5 trillion across the globe in 2021 and is estimated to reach around USD 550 billion by the year 2026.

• Increasing Utilization of Rotomolding Machines in Agriculture - As of 2022, the total agricultural export value was anticipated to reach USD 150 billion while the agricultural import was estimated to be nearly USD 160 billion for the USA.

• Spiking R&D Spending in Pharmaceuticals to Boost the Demand for Rotomolding - The research and development spending on pharmaceuticals amounted to approximately USD 180 billion across the globe in 2020.

Challenges

• Requirement for Higher Initial Investment- The process of making products from rotomolding includes some requirements such as raw materials to be in fine powder form or granules, need high cycle time with 8 rotations per minute extended for 3 hours and the mold need to be cooled before removing the product. All these disadvantages and time-consuming processes hamper the market growth.
• Constant Need for Costly Maintenance
• Disrupted Supply-Chain due to COVID-19