Global polymer and thermoplastic micro molding market to register CAGR of over 14% by 2019

MOSCOW (MRC) -- In 2012, the global polymer and thermoplastic micro molding market held a valuation of USD308 mln and is forecast to be valued at USD763.6 mln by 2019. The polymer and thermoplastic micro molding market is expected to grow at a positive CAGR of 14.2% during the period between 2013 and 2019, reported Plastermart with reference to Transparency Market Research.

The cost-effectiveness of these products has led to a rise in demand from the polymer and thermoplastic micro molding market. The increase in the number of minimally invasive surgeries (MIS) and advanced technologies in the fields of micro optics and micro fluids has further boosted the growth of the polymer and thermoplastic micro molding market. However, regions such as the Middle East, Southeast Asia, and Latin America may not contribute significantly to the growth of the polymer and thermoplastic micro molding market, due to the lack of awareness.

The polymer and thermoplastic micro molding market is segmented depending upon the usage of micro molding products across various industries such as automotive, medical, telecom fiber optics, micro drive systems and control, and others. In 2012, the medical and healthcare industry led the demand from the polymer and thermoplastic micro molding market. 35% of the demand for polymer and thermoplastic micro molded products came from this industry. Due to the rapid growth of micro fluidics technology, this segment of the polymer and thermoplastic micro molding market is expected to grow rapidly from 2013 to 2019. The extensive use of micro molded products in the automotive industry is expected to cross the USD150 mln mark by 2019. The rising demand for micro molding products in automotive applications can be attributed to the increase in the manufacture of automobiles throughout the world.

In the forecast period, the growth of the polymer and thermoplastic micro molding market in the telecom fiber optics segment will occur at a rapid CAGR of 13.8%, and the micro drive systems and control segment would grow at an even higher CAGR of 14%. Due to the high demand for micro molding products across various industries and thanks to its supportive environment for technological advancement, North America dominates the global polymer and thermoplastic micro molding market.

In 2012, approximately 44% of the total revenue was contributed by North America. In Europe, Germany alone accounts for almost half of the total polymer and thermoplastic micro molding market owing to its leading position in automobile manufacturing and increasing healthcare expenditure.

The polymer and thermoplastic micro molding market in Europe is forecast to grow at a CAGR of 13.5% from 2013 to 2019. By 2019, the European polymer and thermoplastic micro molding market is expected to be valued at USD219 mln. Japan dominates the global polymer and thermoplastic micro molding market in the Asia Pacific region. The polymer and thermoplastic micro molding market in Asia Pacific is expected to grow at a CAGR of 14.8% during the forecast period.

We remind that, as MRC informed before, global thermoplastic composites end product market is expected to reach at USD9.9 bln in 2020 at a CAGR of 6.5% over the period of 2015 to 2020, as per Markets and Markets.
MRC

MOSCOW (MRC) -- The global automotive composites market will be worth USD12.1bn in 2016, as opportunities for light-weighting, requirements for fuel efficiency and global regulations for emission reduction drive the incremental penetration of composites into passenger cars, as per Plastemart with reference to Asdreports.

The author of the report commented that: "In 2016 the market for automotive composites is progressing strongly, boosted by increasingly advanced production techniques which are facilitating higher volume production of composite materials. The success of composite-rich models such as the BMW i3 provides further positive stimuli to the market, and indicates the beginning of a trend towards mid-price models featuring higher quantities of composite materials.

The automotive composites market is currently characterized by a higher level of concentration in the premium vehicle segment, due to the current high costs of manufacturing composite materials. Over the forecast period, we will see emerging more cost-efficient methods of production, observing a change in this trend as light-weighting and fuel efficiency are targeted more directly by OEMs.

The automotive composites market represents high potential and it is expected to record considerable growth in the forecast period. Significant partnerships between OEMs and composite manufacturers will help to boost investment and research, facilitating cost-efficient mass production. This is the biggest restraint the market faces. Additionally, the issues and difficulties associated with the recycling of composite materials are being targeted, and healthy progress is already being made in this regard, which will continue throughout 2016-2026."

As MRC reported earlier, the global automotive composites market was valued at USD3062.7 mln in 2014, which is expected to increase to USD7,019.7 mln by 2022 at a CAGR of 8.8%, as per Persistence Market Research. Asia-Pacific is the largest market for automotive composites. The Asia-Pacific market is expected to account for 52.4% by 2022.

The global automotive composites market is highly consolidated, with the top four players - Toray Industries, Toho Co. Ltd., Mitsubishi, and SGL - accounting for between 70 and 75% market share. Other players operating in the global automotive composites market include Cytec Industries Inc., SAERTEX GmbH & Co. KG, Koninklijke Ten Cate N.V., Johns Manville, Johnson Controls, Inc., Scott Bader Company Ltd., Teijin Limited, E.I. du Pont de Nemours and Company, and UFP Technologies, Inc.
MRC

MOSCOW (MRC) -- South Korea’s water pipe manufacturer Pyungwha Pipe Industry Inc. said that it has succeeded in developing and commercializing large-diameter polyvinyl chloride (PVC) water pipes for the first time in the country, reported GV.

The PVC pipe maker said its 630 millimeter-diameter water tube is expected to replace existing large-diameter water distribution and drainage pipes that are generally made of steel or cast iron to withstand a large volume of water supply and high water pressure.

The company claimed that its new PVC pipe, named APPIZ, is as sturdy as the cast-iron tubes and it costs less to install. As it is made of PVC, the company’s new plumbing pipes should last long without rusting or corrosion, said Pyungwha Pipe Chairman Lee Jong-ho. The Korean PVC pipe maker plans to make inroads into agricultural water supplying market and water treatment plant sector, added Lee.

The company said that the APPIZ pipe is a ground-breaking development with an improved long-term hydrostatic level, 18 times stronger than the international standard, and it could last 100 years, twice longer than polyethylene (PE) water pipes. The newly upgraded PVC pipe also added a new rubber ring joint that is expected to withstand wear and tear for over 100 years.

The company said American Water Works Company Inc., a leading water supply company in the United States, applied Pyungwha Pipe’s APPIZ plumbing systems at its sites in St. Louis, the U.S. where using cast-iron pipes or other-type PVC water pipes is a challenge due to environmental condition nearing a river. Thanks to the successful launch of APPIZ water tubes, Pyungwha Pipe will start working together with the leading U.S. water utility company at other locations in the U.S. In addition, it is known that another global tap water service giant Suez North America is mulling to employ APPIZ water pipes.

We remind that, as MRC informed previously, The South Korean government is pushing forward with consolidation of the petrochemical industries, which are mired in a supply glut and the protracted global economic recession. The restructuring on the petrochemical industry is currently led by the Ministry of Trade, Industry, and Energy. Although working-level officials of major petrochemical firms such as LG Chem, Lotte Chemical, and SK Global Chemical held a meeting last month in order to discuss issues like capacity adjustment, they no longer do it out of concern that it might be construed as an act of collusion by the Fair Trade Commission.
MRC

MOSCOW (MRC) -- Carmel Olefins is likely to shut its polypropylene (PP) and low density polyethylen (LDPE) units for a maintenance turnaround, as per Apic-online.

A Polymerupdate source in Middle East informed that the both units is scheduled to be taken off-stream early-May 2016 and expected to remain shut for around 5 weeks.

Located at Haifa in Israel, the plant has a PP production capacity of 450,000 mt/year and LDPE production capacity of 170,000 mt/year.

We remind that, as MRC wrote previously, in late January 2016, PetroRabigh, another major petrochemical producer in Asia, restarted its PP plant following a maintenance turnaround. The plant was taken offline in early October 2015. As per earlier plans, it was scheduled to restart in end-December 2015. Located in Rabigh, Saudi Arabia, the plant has a production capacity of 700,000 mt/year.
MRC

MOSCOW (MRC) -- Shipments of Russian polystyrene (PS) and styrene plastics into foreign markets dropped in the first quarter of 2016 by 7% year on year to 17,610 tonnes. Exports to Belarus and Kazakhstan decreased, whereas shipments to Ukraine increased, according to MRC ScanPlast report.

The fall of export shipments was registered in the general purpose polystyrene (GPPS) market (GPPS exports fell by 27% to 8,200 tonnes). Exports of acrylonitrile-butadiene-styrene (ABS) also decreased substantially. Q1 ABS exports totalled 190 tonnes versus 820 tonnes a year earlier. At the same time, deliveries of high impact polystyrene (HIPS) grades to foreign markets increased by 5%, totalling about 5,000 tonnes.

The expandable polystyrene (EPS) market was the exception. EPS exports more than doubled and were 4,240 tonnes versus 2,000 tonnes a year earlier. Ukraine accounted for the main EPS shipments.

Ukraine remained the main consumer of Russian styrene plastics. Deliveries to Ukraine rose to 7,600 tonnes in January-March 2016, up by 41% year on year. Strong demand for Russian material from Ukrainian processing companies was caused by the price advantage compared to prices of European and Asian producers and short delivery time.

It is worth noting that among other countries-consumers of PS, demand for Russian HIPS and GPPS grades grew significantly from Lithuanian and Polish companies.

MRC