The global demand for Packaging Resins Market is presumed to reach the market size of nearly USD 521.73 MN by 2028 from USD 302.46 MN in 2021 with a CAGR of 8.1% under the study period 2022 - 2028.
Packaging resins are solid and highly viscous substances produced synthetically. They possess the extensive property of being convertible into polymers, often known as polymer-based materials. Packaging resins generally consist of plastic resin material, which is a broad category resin & has several different types. Plastic resins are composed using chemical & synthetic materials formed when large hydrocarbon molecules are heated up to a high degree temperature where they break & melt into smaller particles.
Market Dynamics
Packaging resins find extensive applications & have high demands in several industries, that include healthcare, consumer goods, food & beverage, industrial, and others. The surge in demand for packaging resins is due to consumers shifting preferences for commodities with plastic packaging, which is positively transforming the packaging resin industry. Packaging resin is widely utilized in the food and beverage industry because it prolongs the shelf life of products by protecting them. It is one of the significant factors driving the demand for packaging resin in the food and beverage industry. Some other aspects, such as the rising need for consumer goods and increasing demand for packaged food commodities, will further influence the market expansion of packaging resins. The growing emergence of bio-plastics in the packaging resins industry is further flourishing the market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of packaging resins. The growth and trends of packaging resins industry provide a holistic approach to this study.
Market Segmentation
This section of the packaging resins market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Low Density Polyethylene
- Propylene
- High Density Polyethylene
- Polyethylene Terephthalate
- Polystyrene & Expanded Polystyrene
- Polyvinyl Chloride
- Others
By Application Type
- Food & Beverage
- Consumer Goods
- Healthcare
- Industrial
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Packaging Resins market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Packaging Resins Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the packaging resins market include Borealis AG, Braskem S.A., Dowdupont Inc., Exxonmobil Chemical, Indorama Ventures Public Company Ltd., Lyondellbasell Industries Holdings B.V., M&G Chemicals, Petrochina Ltd., SABIC, and Sinopec Corporation. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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