The United Kingdom plastomers market size is expected to experience a CAGR of 4.6% from 2023 to 2033. In 2022, the market was valued at USD 122,658.3 thousand.
It is projected to expand 1.6 times by 2033, reaching a market value of USD 198,623.9 thousand. Growing demand for plastomers from multiple industries is expected to drive growth during the forecast period. It is estimated to cross USD 127,201.4 thousand in 2023.
Plastomers are a type of polymer that exhibit properties of both plastics and elastomers. These are increasingly gaining popularity in industries such as packaging, automotive, and consumer goods.
Their unique copolymer structure makes them more flexible and elastic than regular plastics. They also have a lower melting point, allowing for easy shaping into different forms.
Plastomers are excellent at sealing, making them ideal for packaging applications. They are a cost-effective substitute for traditional elastomers, offering comparable properties while being more versatile in their processing. They are used in a wide range of applications, including adhesives, coatings, and electrical components.
Increasing demand for lightweight and high-performance materials in the aerospace and marine industries presents new opportunities for plastomers. They are becoming immensely popular in the aerospace industry due to their lightweight nature and resistance to impact & chemicals.
These properties help to reduce aircraft weight and improve fuel efficiency. They are also used to manufacture components such as fuel lines, electrical wiring, and insulation materials.
In the marine industry, plastomers are preferred for components such as fuel tanks, pipes, and fittings. It is due to their resistance to corrosion and chemicals, better design flexibility, and easier processing compared to traditional materials such as metals and fiberglass. The product is expected to experience growth in usage as the marine industry demands more high-performance and durable materials.
Plastomers are frequently thought of as being eco-friendlier than conventional plastics. Plastomers of all varieties can be reused or repurposed, which can aid in resource conservation and waste reduction.
Another reason for the rising demand for plastomers is their versatility. Plastomers can be tailored to meet specific requirements such as stiffness or flexibility. They can be easily processed into different shapes and forms. It makes them ideal for use in a wide range of applications.
| Attributes | Key Insights |
|---|---|
| United Kingdom Plastomers Market Estimated Size (2023E) | USD 127,201.4 thousand |
| Projected Market Valuation (2033F) | USD 198,623.9 thousand |
| Value-based CAGR (2023 to 2033) | 4.6% |
| Collective Value Share: Top 7 Players (2022A) | 75 to 80% |
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The United Kingdom plastomers market witnessed sluggish growth from 2018 to 2022. It was attributed to economic uncertainty caused by Brexit, as well as the impact of the COVID-19 pandemic. During the historical period, the market recorded a CAGR of 2.0%.
The United Kingdom market outlook for plastomers from 2023 to 2033 is projected to have a positive trend, with an expected CAGR of 4.6%. The packaging industry is expected to lead in terms of consumption, thereby driving market expansion.
Adoption of fuel-efficient and electric/hybrid vehicles in the automotive industry is also expected to fuel demand for plastomers. Technological advancements & innovation and presence of numerous emerging players are a couple of other factors pushing demand. High demand for sustainable and eco-friendly products is also likely to boost growth.
In the United Kingdom market, plastomers have experienced a significant growth rate in terms of demand. It is owing to several factors related to the packaging, automotive, and construction industries.
Few of these factors are listed below:
Adoption of these copolymers in the transportation industry has reduced fuel consumption, while their use in packaging has lowered waste and transportation costs. They also provide excellent design flexibility for thin-walled products. Their lightweight nature makes them more comfortable to handle, thereby improving user experience.
Plastomers also provide excellent insulation, weather, and corrosion resistance. These properties make them increasingly popular, and their demand is set to rise with the sector's continuous expansion.
Demand for Plastomer Products Equipped with Ethylene Octane to Surge by 2033
The United Kingdom plastomers industry is categorized into various product types, including ethylene butene, ethylene, hexene, ethylene octene, ethylene propylene, and others. Ethylene octene and ethylene butene copolymers account for more than 50% of the regional market share.
According to Future Market Insights (FMI), demand for ethylene octene is expected to increase at a rapid CAGR of 4.8% through 2033. It is estimated to generate an absolute dollar opportunity of over USD 25,000 thousand between 2023 and 2033.
Compared to a few other materials, ethylene octene can be a cost-effective choice for certain applications. It can be produced at a lower cost than other types of plastomers, which makes it an attractive option for manufacturers looking to reduce costs.
Demand for Cast Film Processing of Plastomer Elastomers to Expand amid High Use in Food Packaging
There are various methods for processing plastomers, but the top five approaches are blown film, cast film, extrusion lamination, extrusion molding, and injection molding. In the United Kingdom packaging industry, cast film and blown film are the predominant methods.
Based on the report's projections, the cast film segment is expected to experience a significant growth rate at a CAGR of 4.5% in the next ten years. It is likely to be followed by the blown film segment at 4.2% CAGR during the forecast period.
Cast film processing allows for precise control over the thickness of the film, resulting in a consistent product. It is important for applications where thickness of the film is critical such as in medical or food packaging.
Packaging Firms to Look for High-quality Polyolefin Plastomers in the Next Ten Years
The packaging application segment accounts for nearly one-third of the market share in the United Kingdom plastomers industry. Rising demand for plastic films in food, healthcare, and agriculture packaging is one of the main drivers for this growth.
Plastomer-based packaging films and bags offer improved durability, flexibility, and sealability to products. The packaging application segment is hence expected to elevate at a substantial CAGR of 4.6% in the forecast period, indicating a significantly rising demand.
Rising Production of Electric Vehicles to Augment Demand for Elastomer and Plastomer
Due to their lightweight, durable, and chemical-resistant properties, plastomers are highly suited for various automotive applications, making the automotive industry a significant end user. They can be molded into intricate shapes and designs, providing versatility and adaptability to meet unique requirements of the automotive sector.
Compatibility with injection molding, extrusion, and blow molding techniques enable cost-effective mass production of plastic-based components. These properties would make them an appealing choice for the automotive industry. Demand for plastomers in the automotive sector is rising due to increasing need for fuel-efficient and electric/hybrid vehicles.
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The United Kingdom plastomers industry is highly consolidated due to numerous challenges faced by new entrants. Strict regulations, technical know-how, and substantial capital investment might act as entry barriers. It might further lead to intense competition among established players.
Manufacturers have to continuously innovate and upgrade their products to keep up with changing preferences. Demand for cost-effective and high-performance materials is estimated to rise, creating new opportunities through 2033.
Launching products in the United Kingdom plastomers industry via supplier platforms can expand manufacturers' reach. The strategy can also reduce costs and offer valuable insights into preferences and market trends, improving their competitiveness and profitability.
The approach is specifically advantageous for small- and medium-sized businesses without resources to create their own distribution networks. Mergers and acquisitions can enable firms to acquire new technologies, expand their product portfolios, and cater to a wider customer base, thereby promoting growth.
Key industry developments are tracked and a few are listed below:
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 127,201.4 thousand |
| Projected Market Valuation (2033) | USD 198,623.9 thousand |
| Value-based CAGR (2023 to 2033) | 4.6% |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (USD thousand) and Volume (tons) |
| Market Segments Covered | Product Type, Processing Type, Application, End-use Industry, Country |
| Countries Covered | England, Scotland, Wales, Northern Ireland |
| Key Companies Profiled | ExxonMobil Corporation; INEOS; Borealis AG; LyondellBasell Industries N.V.; LG Chem Ltd; Dow Inc.; SABIC; SK United Kingdom; Mitsui Chemical; Westlake Chemical Corporation |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
The market in 2023 is valued at USD 127,201.4 billion.
Packaging application is expected to gain significant traction.
The market is expected to register a 4.6% CAGR until 2033.
From 2018 to 2022, the market expanded at a 2% CAGR.
INEOS, SABIC, and Dow Inc. are some key players.
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United Kingdom Plastomers Market
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