Stratview Research has published a report on the Plastomers Market Segmented by Product Type (Ethylene Propylene, Ethylene Butene, Ethylene Hexene, and Ethylene Octene), by Application Type (Adhesives, Compounding Foams, Food Packaging, Non-Food Packaging, Wire & Cables, and Automotive), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Plastomers Market is likely to witness an impressive CAGR of 6% during the forecast period. Increasing product demand from food packaging industry is majorly attributed to the surge in population in the Asia-Pacific region, which is likely to make significant contribution to the growth of the market during the forecast time period.
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Plastomers Market Share: By Product Type
Based on the product type, the market is segmented into ethylene propylene, ethylene butene, ethylene hexene, and ethylene octene. The ethylene propylene segment is expected to grow at a strong rate during the forecast period. The growth of the segment is driven by its combination of excellent chemical and physical properties such as heat sealability, processability, softness, clarity, and compatibility in blends for films, sheets, and moulded products.
Plastomers Market Share: By Region
In terms of regions, Asia-Pacific led the market in 2020, and is expected to maintain its dominance during the forecast period. The region’s market is driven by the rapidly developing food, beverage, pharmaceutical, and personal care industries in the Asia-Pacific region. Furthermore, the region’s ageing population and growing middle class population are likely to boost product demand over the forecast period. China and India are the growth engines of the region.
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