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Global Packaging Resins Market Introduction:
“The global Packaging Resins Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Plastic resins require high skills and expertise for the production. These resins are light in weight than other materials. A wide range of resins are available in market to meet particular demand. Adhesive resins form solid bond between dissimilar materials, on the other hand sealant resins offer leak-free solidness. In addition, barrier resins protect freshness, increase shelf-life, and decrease flavor loss. Modifier resins aid to enhance performance of packaging structure. Packaging resins used in molded products offer exceptional durability and flexibility.
High Density Polyethylene (HDPE) is most commonly used to manufacture plastic. It is also used to manufacture various types of jugs and containers. Uncolored containers are translucent, have great barrier and stiffness characteristics, and are suitable for packaging items with short shelf life. Since, HDPE hold high chemical resistance property, it is used for packaging various industrial compounds for example, detergents and bleach.
Increasing demand for packaging resins across various industrial sectors such as food & beverages and consumer goods, is major factor expected to drive growth of the global market over the next 5 years. Rising application scope in the healthcare industry is another key factor expected to support revenue growth of the target market in the next 10 years.
In addition, various properties offered by packaging resins such as resistant to continuously changing weather conditions is another factor expected to boost adoption of these products, which in turn projected to drive growth of the target market over the forecast period. Moreover, packaging resins also find application in industrial sectors with improved efficiency, which in turn expected to drive growth of the target market over the next 5 years.
Asia Pacific market is expected to account for significant share in terms of revenue in the global packaging resins market. In addition, Asia Pacific market is also expected to register fastest growth in terms of revenue over the next few years, owing to increasing demand from various packaging industries in countries in this region.
Increasing investments by public and private manufacturers in Asia Pacific region and rising need from various end-use industrial verticals are other factors projected to drive growth of the Asia Pacific market in the next 10 years.
The market in China is expected to account for significant share in terms of revenue in the Asia Pacific. In addition, increasing awareness regarding various features offered by these resins among manufacturers in the countries in region are other factors driving growth of these end-use industries, which in turn is expected to fuel growth of the global market in this region.
Global Packaging Resins Market Segmentation:
Segmentation by type:
- Low Density Polyethylene (LDPE)
- Polypropylene (PP)
- High Density Polyethylene (HDPE)
- Polyethylene Terephthalate (PET)
- Polystyrene (PS) & Expanded Polystyrene (EPS)
- Polyvinyl Chloride (PVC)
Segmentation by application:
- Food & Beverage
- Consumer Goods
- Others (agriculture and textiles)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Arkema S.A.
- ExxonMobil Chemical Company, Inc.
- Lyondellbasell Industries Holdings B.V.
- Saudi Basic Industries Corporation
- PetroChina Company Limited
- Borealis AG
- Braskem S.A.
- DowDuPont Inc.
- Indorama Ventures Public Company Limited
- M&G Chemicals S.A.
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