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Rotational Molding Market Overview
Rotational molding market size is forecast to reach US$6.3 billion by 2027, after growing at a CAGR of 5.2% during 2022-2027. The demand for rotation molding is increasing owing to its increasing demand from various end-use industries such as food and beverage, aerospace, industrial, and other related industries. The plastic powders are used in the rotational molding process to create the desired hollow plastic product because it provides a long-lasting, uniform, and appealing finish. Moreover, materials such as polyethylene, polyvinyl chloride, thermoplastic, and more are utilized in rotational molding to enhance the strength and durability of the products. The rotational molding market is majorly driven by the growth of building and construction activities across the world. Apart from this, the growing demand from the automotive industry for rotational molding will further benefit the rotational molding industry.
COVID-19 Impact
The Covid-19 pandemic impacted the supply chain of essential raw materials such as polypropylene, polyethylene, and other similar materials used for the manufacturing of rotational molding. The supply chain was disrupted due to government-induced lockdown measures, which impacted the imports and exports of such raw materials. For instance, according to Internal Trade Centre (ITC), in the year 2019, the import of polyethylene at the global level with a specific gravity of <0.94, in primary forms, was US$25,784 million, and in the year 2020, it was 22,698 million, a decline of 11.4%. Moreover, the exports of polyethylene with a specific gravity of <0.94 in primary forms in 2019 at the global level, was US$23,766 million, and in 2020, it was US$21,320 million, a decline of 11.5%. This decline impacted the production of rotational molding, which resulted in losses for the rotational molding market. However, to strengthen the economy and reduce the negative of the Covid-19 pandemic governments all over the world eased the measures, and also imports were encouraged to meet the shortage of raw materials, hence creating an opportunity for the rotational molding market growth. In addition, it is predicted that the impact of the Covid-19 pandemic will be reduced by the start of 2023, this will benefit the rotational molding market growth.
Report Coverage
The report: "Rotational Molding Market–Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Rotational Molding Market.
By Material: Polyethylene, Nylon, Plastisols, Polycarbonate, Elastomers, Ethylene-vinyl Acetate, Polyurethane, Polyvinyl chloride, Polypropylene, Thermoplastic, and Others
By Form: Liquid and Powder
By Application: Tanks, Containers, Storage Boxes, Road Barriers, Medical Stretchers, Roofing, and Others
By End-Use Industry: Building and Construction (Residential Construction, Commercial Construction, Industrial Construction, and infrastructure), Food and Beverage(Frozen Food, Dairy Products, Fresh Food, Beverages (Alcoholic and Non-Alcoholic), and Others), Automotive(Passenger Cars, Light Commercial Vehicles (LCV), and Heavy Commercial Vehicles (HCV)), Medical, Agriculture, Aerospace(Commercial, Military, and Others), Industrial (Packaging, Marine, Furniture, and Others), and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East (Saudi Arabia, UAE, Israel, and Rest of Middle East), and Africa (South Africa, Nigeria, and Rest of Africa))
Key Takeaways
- Asia-Pacific region dominated the rotational molding market, owing to the growth of the residential construction activities in the region. For instance, according to General Statistics Office (GSO) Vietnam, in Vietnam in the years 2016-2019, the area of floors of residential buildings completed increased by 419 million m2, a rise of 18.6% over the period 2012-2015.
- The increasing focus of rotational molding manufacturers towards the use of biodegradable materials and recycled plastic is creating an opportunity for the growth of the rotational molding market.
- Moreover, plastic powders are widely utilized form in rotational moldings because when compared to liquid form it is much safer for the operators and it protects against corrosion, UV, wear, and chemicals, thereby increasing the durability of the products.
- However, environmental concerns, high cycle time, and other factors are restricting the growth of the rotational molding market.
Figure: Asia-Pacific Rotational Molding Market Revenue, 2021-2027 (US$ Billion)
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Rotational Molding Market Segment Analysis – By Material
The polyethylene material held the largest share in the rotational molding market in 2021 and is growing at a CAGR of 5.4% during 2022-2027. Polyethylene material is extensively utilized in rotational molding because it has a higher surface hardness, rigidity, toughness, and chemical resistance, which is ideal for large tanks, containers, and other similar rotational molding applications. Furthermore, the easy availability of polyethylene across the world makes it a cost-effective material for its usage in rotational molding. Also, in comparison with other materials such as polyvinyl chloride, thermoplastic, and other similar materials it has superior and beneficial technical properties including higher flexibility, durability, and more, this makes the rotational molding more durable. Thus, these factors are accelerating the demand for polyethylene material, which is beneficial for the rotational molding market.
Rotational Molding Market Segment Analysis – By End-Use Industry
The building and construction industry held the largest share in the rotational molding market in 2021 and is growing at a CAGR of 6.8% during 2022-2027. Rotational molding is widely utilized in construction activities because it is lighter and more durable, making it suited for the construction industry's demanding requirements. Furthermore, compared to other production methods, rotational molding allows for more design freedom, enabling the rapid and cost-effective development of highly customized parts and specialized components. Also, the increasing power of people across the world is accelerating the demand for residential construction activities, which is boosting the rotational molding market growth. For instance, according to the German Federal Statistics Office, in 2019, the residential and non-residential building and construction activities in the German region were 222,678 and in 2020 it was 232,208, an increase of 4.3%. Also, according to Unites States Census Bureau, in June 2021 statistics shows that US privately-owned housing units were 15,94,000 and in July 2021 it increased to 16,35,000, an increase of 2.6%. Thus, the growing construction activities across the world are boosting the demand for rotational molding, which in turn is aiding the rotational molding market growth.
Rotational Molding Market Segment Analysis – By Geography
Asia-Pacific region held the largest share in the rotational molding market in 2021, up to 39%. In the Asia-Pacific region sectors such as building and construction, automotive industries are growing, and with the growth of these industries, the demand for rotational molding is growing, which is strengthening the market growth. For instance, according to the Ministry of Construction Vietnam, by 2025, the average house floor area per person in Vietnam would be 27 sqm, with 28 sq m in urban areas and 26 sqm in rural areas. In addition, the policy seeks to construct and restore more than one billion sqm of housing, or over 11.9 million units. In addition to this, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in production of automotive in the Asia-Pacific region till September 2020 was 29,373,175 units, and till September 2021 it was 32,674,417 units, an increase of 11%. Thus, the increasing residential construction activities and automotive production in the Asia-Pacific region are accelerating the rotational molding market growth.
Rotational Molding Market Drivers
Bolstering Electronic Vehicle Industry
Rotational molding is employed in electric vehicle bodies to enhance the strength of the electric vehicle body. Also, when compared with steel and more similar materials rotational molding is a cost-effective measure for electric vehicle usage. Thus, these factors make rotational molding ideal for an electric vehicle. Since the demand for electric vehicles is increasing, due to tax benefits, monetary incentives, and other such factors, the production of electric vehicles is increasing. Hence, the demand for rotational molding is growing, which is propelling the rotational molding market growth. For instance, according to International Energy Agency (IEA), in the year 2019, the total production of battery-based cars at the global level was 1,502,985, and in 2020 it was 2,089366, there was an increase in the production of battery-based cars by about 39% when compared to 2019. Moreover, in the year 2019, the total production of plug-in hybrid cars worldwide was 526,101, and in 2020 it was 984,850, with an increase of 87.2% in comparison with the year 2019. Thus, with the increasing production of electric vehicles, it is projected to further drive the rotational molding market growth during the forecast period.
Growth of the Industrial sector
In an industrial sector such as packaging, marine, and other sectors rotational molding is utilized to increase the durability of essential components and markets. Rotational molding is the ideal technology for making parts and components that are deployed in marine ships, yachts, boats, and more because of its lower weight, improved corrosion resistance, and joint-free manufacture. The increasing yacht construction projects across the world are boosting the rotational molding market growth. For instance, as of January 2022, yacht construction projects such as REV Ocean, Norway to be completed by 2024, Project Blue Germany, 2023, Oceanco Y721, Netherlands, 2022, and more are under construction. Also, Rotational molding is used in the packaging sector because it produces little waste and uses the exact weight of plastic needed, making it a cost-effective solution for the packaging industry. Further, the growing packaging industry is driving market growth. For instance, according to the Packaging Sector Association of India, the Indian packaging industry was valued at approximately US$ 50.5 billion in 2019 and is predicted to grow to approximately US$ 204.81 billion by the end of 2025. Thus, the growing industrial sector including marine and packaging is benefiting the growth of the rotational molding market.
Rotational Molding Market Challenges
Drawbacks Related to Rotational Molding
The rotational molding requires a high cycle time, usually eight revolutions per minute, and can take up to three hours to create one product, thus making the manufacturing process time-consuming when compared to other plastic manufacturing techniques. Also, the raw material used in the rotational molding process must be in fine powder form or quickly transformed from granules to fine powder and must have excellent heat stability, limiting raw material choices to poly-based resins. In addition, in the case of rotational molding, the entire mold must be cooled, whereas, in other methods, only the product must be cooled before being removed. These rotational molding difficulties are projected to stymie the rotational molding market.
Rotational Molding Industry Outlook
Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in this market. Rotational Molding top 10 companies include:
- Ocean Plastic Intertrade Co., Ltd.
- A.G. Industries Pvt. Ltd
- Top Rotomolding Technology Co., Ltd
- Ningbo Fly Plastic Co., Ltd
- Yantai Fangda Rotational Molding Co. Ltd
- Cosmos Corporation Co. Ltd
- Changzhou Treering plastic Co., Ltd
- Swastik Rotomatic
- N.A.Roto Machines &Moulds
- Charloma Inc.
Recent Developments
- In January 2021, Tank Holding, North America’s largest rotational molder manufacturer, has acquired Rotational Molding Inc. headquartered in California. The acquisition enables Tank Holding to expand its position in the rotational molding market.
- In November 2020, Elkhart Plastics, Inc., one of the major rotational molding companies in the United States, was acquired by Myers Industries, Inc. The acquisition is the latest step in Myers' long-term strategic plan to turn the company into a high-growth, customer-centric innovator of value-added engineered plastic solutions.
Relevant Reports
Report Code: CMR 0790
Report Code: CMR 1215
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