LONDON--(BUSINESS WIRE)--The global plastomers market is expected to grow at a CAGR of close to 8% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global plastomers market by application, including food packaging films, polymer modification, automotive, non-food packaging films, and wires and cables. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: high acceptance for flame-retardant fillers
Plastomers are known to have high acceptance for flame-retardant fillers such as magnesium and aluminum hydroxides. Materials are added with flame retardants to prevent and delay the further spreading of fire. The high usage of carbon-based products that are inherently combustible in nature has triggered the need for efficient flame-retardant materials. Polymers such as polyamide inherently had flame retardant properties, however, other materials require flame retardant fillers.
According to a senior analyst at Technavio for plastics, polymers, and elastomers research, “Halogen-free flame retardant compounds reduce the weight and the costs per volume. For example, aluminum hydroxide costs less, is easily available, and extensively used in many sectors. This has made the use of aluminum hydroxide to be essential in the electrical and electronics, construction, and transportation sectors.”
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Market trend: penetration of plastomers into newer sectors
Players in the global plastomers market are focusing on expanding existing application markets for plastomers. Plastomers offer unique benefits such as scalability, flexibility, sturdiness, and electrical resistance which can be incorporated into other untouched markets such as the construction market. Some of the trending applications where plastomers are being used are roof linings, side panels, roofing solutions, and construction of emergency shelters. One of the players in the market demonstrated a refugee shelter whose panels and roofs were made using foamed plastomers.
Market challenge: high threat of substitutes
The high adoption of plastomers such as elastomers and other high-performance polymers like styrene-butadiene copolymer (SBC) and PVC will pose as a major challenge for the global plastomers market. Just like plastomers, these materials are also suitable for extrusion, injection molding, and thermoforming. In terms of ease of processing, PVC is highly cost-effective and highly versatile. However, due to stringent material requirements, it is not preferred in the healthcare sector. SBC is used as substitutes for PVC and plastomers in the healthcare sector.
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