Packaging Resins Market Size is anticipated to reach at a CAGR of 7.7% during the forecast period 2022-2030

 

Over the forecast period of 2022–2030, the packaging resins market is anticipated to expand at a compound annual growth rate (CAGR) of 7.7%.

Resins used in packaging are manufactured of synthetic plastic resin. When big hydrocarbon molecules are burned to a point at which they fragment into smaller particles, they are created. These resins are suitable for a wide range of packaging solutions because they are lightweight, energy-efficient, safe, cost-effective, non-corrosive, and flexible. These resins extend the shelf lives of the stored products and improve their safety. They are therefore used in industries including healthcare, consumer products, food and beverage, and industrial, among others. Polyvinyl chloride, propylene, high-density and low-density polyethylene, polyethylene terephthalate, polystyrene and expanded polystyrene are a few examples of packaging resins.

 

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GROWTH DRIVERS

Pharmaceutical packaging such as syringes, labels, accessories, inhalers, medicine vials, ampoules, blister packs, drug pouches, and others are made using packaging resins as they protect the products from contamination and bacteria, moisture, oxygen and odour transmission, and water vapour transmission. Due to the increasing need for medication and the development of chronic, infectious, and deficient disorders around the world, the need for medical packaging is expected to soar. In the upcoming years, it is anticipated that the growth of the pharmaceutical industry will contribute to the expansion of the worldwide packaging resins market.

Additionally, factors such as the growing preference for convenient packaging, rising packaged and ready-to-eat food demand, rapid global e-commerce industry growth, proliferating demand for sustainable packaging solutions, surging awareness of the advantages of packaging resins, rising R&D activity costs, and expanding industrialization globally are among those driving the growth of the global packaging market.

 

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PACKAGING RESINS MARKET SEGMENTATION

By Type

·         Low Density Polyethylene (LDPE)

·         Polypropylene (PP)

·         High Density Polyethylene (HDPE)

·         Polyethylene Terephthalate (PET)

·         Polystyrene (PS) & Expanded Polystyrene (EPS)

·         Polyvinyl Chloride (PVC)

·         Others

 

By Application

·         Food & Beverage

·         Consumer Goods

·         Healthcare

·         Industrial

·         Others

 

By Region

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa

KEY COMPANIES IN PACKAGING RESINS MARKET

The research report offers a competitive analysis of prominent companies operating in the global packaging resins market. Some of the leading players profiled in the market research report include:

·         SABIC

·         China Petrochemical Corporation

·         Borealis AG

·         INEOS               

·         LyondellBasell Industries Holdings BV

·         ExxonMobil Corporation

·         Sinopec Corporation

·         PetroChina Company Ltd.

·         DowDupont Inc.

·         Braskem S.A.

·         Indorama Ventures Public Company Ltd.

·         M&G Chemicals

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                                                             

                                                                             

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