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 US$ 122,658.3 thousand.
It is projected to expand 1.6 times by 2033, reaching a market value of US$ 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 US$ 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) | US$ 127,201.4 thousand |
| Projected Market Valuation (2033F) | US$ 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.
Principal Consultant
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 US$ 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) | US$ 127,201.4 thousand |
| Projected Market Valuation (2033) | US$ 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 (US$ 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 US$ 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.
1. Executive Summary | United Kingdom Plastomers Market 1.1. Market Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Processing Type Roadmap 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.2. Product Innovation / Development Trends 4. Key Success Factors 4.1. Product Adoption / Usage Analysis 4.2. Product USPs / Features 4.3. Strategic Promotional Strategies 5. Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 5.1. Historical Market Volume (Tons) Analysis, 2018 to 2022 5.2. Current and Future Market Volume (Tons) Projections, 2023 to 2033 5.3. Y-o-Y Growth Trend Analysis 6. Market - Pricing Analysis 6.1. Regional Pricing Analysis By Product Type 6.2. United Kingdom Average Pricing Analysis Benchmark 7. Market Demand (in Value or Size in US$ thousand) Analysis 2018 to 2022 and Forecast, 2023 to 2033 7.1. Historical Market Value (US$ thousand) Analysis, 2018 to 2022 7.2. Current and Future Market Value (US$ thousand) Projections, 2023 to 2033 7.2.1. Y-o-Y Growth Trend Analysis 7.2.2. Absolute $ Opportunity Analysis 8. Market Background 8.1. Macro-Economic Factors 8.1.1. Global Economic Outlook 8.1.2. United Kingdom GDP Growth Overview 8.1.3. United Kingdom Macro-Economics Overview 8.1.4. Global Chemical Industry Outlook 8.1.5. Global Chemical Sales Overview 8.1.6. Europe Manufacturing Value Added by Key Countries 8.1.7. United Kingdom Manufacture of Rubber and Plastic Products 8.1.8. United Kingdom Plastic and Rubber Manufacturing Market Overview 8.2. Forecast Factors - Relevance and Impact 8.2.1. GDP Growth Forecast 8.2.2. Manufacturing Industry Growth 8.2.3. Increasing Urbanization 8.2.4. Rising M&A Activities 8.2.5. Food Packaging Industry Growth 8.2.6. Chemical Industry Growth 8.2.7. Government Regulations and Initiatives 8.3. Value Chain 8.3.1. Product Manufacturers 8.3.2. Distributors 8.3.3. Probable End Users 8.3.4. Avg. Profitability Margins 8.4. COVID-19 Crisis to Impact Assessment 8.4.1. Current Statistics 8.4.2. Short-Mid-Long Term Outlook 8.4.3. Likely Rebound 8.5. Market Dynamics 8.5.1. Drivers 8.5.2. Restraints 8.5.3. Opportunity Analysis 8.6. United Kingdom Demand-Supply Overview 8.7. United Kingdom PESTLE Analysis 9. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 9.1. Introduction / Key Findings 9.2. Historical Market Size (US$ thousand) and Volume Analysis By Product Type, 2018 to 2022 9.3. Current and Future Market Size (US$ thousand) and Volume Analysis and Forecast By Product Type, 2023 to 2033 9.3.1. Ethylene Butene 9.3.2. Ethylene Hexene 9.3.3. Ethylene Octene 9.3.4. Ethylene Propylene 9.3.5. Others 9.4. Market Attractiveness Analysis By Product Type 10. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Processing Type 10.1. Introduction / Key Findings 10.2. Historical Market Size (US$ thousand) and Volume Analysis By Processing Type, 2018 to 2022 10.3. Current and Future Market Size (US$ thousand) and Volume Analysis and Forecast By Processing Type, 2023 to 2033 10.3.1. Blown Film 10.3.2. Cast Film 10.3.3. Extrusion Lamination 10.3.4. Extrusion Coating 10.3.5. Injection Molding 10.4. Market Attractiveness Analysis By Processing Type 11. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 11.1. Introduction / Key Findings 11.2. Historical Market Size (US$ thousand) and Volume Analysis By Application, 2018 to 2022 11.3. Current and Future Market Size (US$ thousand) and Volume Analysis and Forecast By Application, 2023 to 2033 11.3.1. Packaging Application 11.3.2. Adhesives and Sealants 11.3.3. Wire and Cable Compounds 11.3.4. Polymer Modifiers 11.3.5. Molded and Extruded Products 11.3.6. Auto Component Parts 11.3.7. Foam Products and Footwear 11.3.8. Heavy-Duty Bags 11.3.9. Non-woven Coatings 11.3.10. Industrial Liners 11.3.11. Other Applications 11.4. Market Attractiveness Analysis By Application 12. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use Industry 12.1. Introduction / Key Findings 12.2. Historical Market Size (US$ thousand) and Volume Analysis By End-use Industry, 2018 to 2022 12.3. Current and Future Market Size (US$ thousand) and Volume Analysis and Forecast By End-use Industry, 2023 to 2033 12.3.1. Automotive 12.3.2. Building and Construction 12.3.3. Compounding 12.3.4. Consumer Appliances 12.3.5. Electrical and Electronics 12.3.6. Healthcare 12.3.7. Food and Beverages 12.3.8. Agriculture 12.3.9. Other Industries 12.4. Market Attractiveness Analysis By End-use Industry 13. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 13.1. Introduction 13.2. Historical Market Size (US$ thousand) and Volume Analysis By Region, 2018 to 2022 13.3. Current Market Size (US$ thousand) and Volume Analysis and Forecast By Region, 2023 to 2033 13.3.1. England 13.3.2. Scotland 13.3.3. Wales 13.3.4. Northern Ireland 13.4. Market Attractiveness Analysis By Region 14. England Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Market Size (US$ thousand) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022 14.4. Market Size (US$ thousand) and Volume Forecast By Market Taxonomy, 2023 to 2033 14.4.1. By Product Type 14.4.2. By Processing Type 14.4.3. By Application 14.4.4. By End-use Industry 14.5. Market Attractiveness Analysis 14.5.1. By Product Type 14.5.2. By Processing Type 14.5.3. By Application 14.5.4. By End-use Industry 14.6. Drivers and Restraints - Impact Analysis 15. Scotland Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Market Size (US$ thousand) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022 15.4. Market Size (US$ thousand) and Volume Forecast By Market Taxonomy, 2023 to 2033 15.4.1. By Product Type 15.4.2. By Processing Type 15.4.3. By Application 15.4.4. By End-use Industry 15.5. Market Attractiveness Analysis 15.5.1. By Product Type 15.5.2. By Processing Type 15.5.3. By Application 15.5.4. By End-use Industry 15.6. Drivers and Restraints - Impact Analysis 16. Wales Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Market Size (US$ thousand) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022 16.4. Market Size (US$ thousand) and Volume Forecast By Market Taxonomy, 2023 to 2033 16.4.1. By Product Type 16.4.2. By Processing Type 16.4.3. By Application 16.4.4. By End-use Industry 16.5. Market Attractiveness Analysis 16.5.1. By Product Type 16.5.2. By Processing Type 16.5.3. By Application 16.5.4. By End-use Industry 16.6. Drivers and Restraints - Impact Analysis 17. Northern Ireland Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17.1. Introduction 17.2. Pricing Analysis 17.3. Historical Market Size (US$ thousand) and Volume Trend Analysis By Market Taxonomy, 2018 to 2022 17.4. Market Size (US$ thousand) and Volume Forecast By Market Taxonomy, 2023 to 2033 17.4.1. By Product Type 17.4.2. By Processing Type 17.4.3. By Application 17.4.4. By End-use Industry 17.5. Market Attractiveness Analysis 17.5.1. By Product Type 17.5.2. By Processing Type 17.5.3. By Application 17.5.4. By End-use Industry 17.6. Drivers and Restraints - Impact Analysis 18. Market Structure Analysis 18.1. Market Positioning Analysis 18.2. Market Share Analysis of Top Players 18.3. Market Value Share Analysis of Top Players 18.4. Market Share Analysis by Tier of Company 18.5. Key Players in Product Portfolio Overview 19. Competition Analysis 19.1. Competition Dashboard 19.2. Competition Deep Dive 19.2.1. LyondellBasell Industries N.V. 19.2.1.1. Overview 19.2.1.2. Product Portfolio 19.2.1.3. Profitability by Market Segments (Product/Channel/Region) 19.2.1.4. Sales Footprint 19.2.1.5. Strategy Overview 19.2.2. SABIC 19.2.2.1. Overview 19.2.2.2. Product Portfolio 19.2.2.3. Profitability by Market Segments (Product/Channel/Region) 19.2.2.4. Sales Footprint 19.2.2.5. Strategy Overview 19.2.3. Exxon Mobil Corporation 19.2.3.1. Overview 19.2.3.2. Product Portfolio 19.2.3.3. Profitability by Market Segments (Product/Channel/Region) 19.2.3.4. Sales Footprint 19.2.3.5. Strategy Overview 19.2.4. LG Chem 19.2.4.1. Overview 19.2.4.2. Product Portfolio 19.2.4.3. Profitability by Market Segments (Product/Channel/Region) 19.2.4.4. Sales Footprint 19.2.4.5. Strategy Overview 19.2.5. Westlake Chemical Corporation 19.2.5.1. Overview 19.2.5.2. Product Portfolio 19.2.5.3. Profitability by Market Segments (Product/Channel/Region) 19.2.5.4. Sales Footprint 19.2.5.5. Strategy Overview 19.2.6. Borealis AG 19.2.6.1. Overview 19.2.6.2. Product Portfolio 19.2.6.3. Profitability by Market Segments (Product/Channel/Region) 19.2.6.4. Sales Footprint 19.2.6.5. Strategy Overview 19.2.7. INEOS 19.2.7.1. Overview 19.2.7.2. Product Portfolio 19.2.7.3. Profitability by Market Segments (Product/Channel/Region) 19.2.7.4. Sales Footprint 19.2.7.5. Strategy Overview 19.2.8. Dow Inc. 19.2.8.1. Overview 19.2.8.2. Product Portfolio 19.2.8.3. Profitability by Market Segments (Product/Channel/Region) 19.2.8.4. Sales Footprint 19.2.8.5. Strategy Overview 19.2.9. Mitsui Chemicals 19.2.9.1. Overview 19.2.9.2. Product Portfolio 19.2.9.3. Profitability by Market Segments (Product/Channel/Region) 19.2.9.4. Sales Footprint 19.2.9.5. Strategy Overview 19.2.10. SK geo centric Co., Ltd. 19.2.10.1. Overview 19.2.10.2. Product Portfolio 19.2.10.3. Profitability by Market Segments (Product/Channel/Region) 19.2.10.4. Sales Footprint 19.2.10.5. Strategy Overview 20. Assumptions and Acronyms Used 21. Research Methodology
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United Kingdom Plastomers Market
