Definition of the global packaging resins market
Due to advantages like energy-efficient production, lighter weight than alternative materials, and convenient availability of packaging resins, these materials are used in a variety of end-use industries, including automotive and food and beverage. Packaging resins improve the flexibility and durability of moulded products. The production of plastic resin demands a high level of aptitude and proficiency. Less dense than other materials, these resins. The industry provides a wide range of resins to meet various needs. While sealant resins offer solidity with no leaks, adhesive resins create a strong bond between incompatible materials. Barrier resins also maintain freshness, increase shelf life, and minimise flavour loss.
Manufacturing facilities around the world were shut down in the first half of 2020 for the protection of the workers and to slow the spread of the virus. The consumer goods sector has been stopped for the majority of 2020 due to the lockdown and the decision made by the majority of governments worldwide to shut down non-essential businesses. This has had a negative impact on the packaging resins market as well as the consumer goods industry. The largest decline in the electronic goods sector occurred in February 2020, when compared to February of the previous year, when there were approximately 34.7 million fewer electronic goods shipped. The opening of the manufacturing facilities and the lifting of the lockdown are positive developments for the packaging resins market. Additionally, the personal care and cosmetics market suffered in
The packaging resins market is divided into segments based on geography, application, and resin type. High-density polyethylene, low-density polyethylene, polyethylene terephthalate, polypropylene, polystyrene, polyvinyl chloride, and other resin types are the categories into which the market is divided according to resin type. Food and beverage, consumer goods, cosmetics and personal care, healthcare, industrial, and other applications make up the market’s application-based segments. The market size and forecasts for the packaging resins market in 15 countries across major regions are also covered in the report. The market sizing and forecasting for each segment have been done using volume (million metric tons).
Small materials are used in the production of packaging resins, which are then assembled into molecular structures called polymers. Thus, packaging materials, supplies, and solutions are created using these resins. The group of packaging resins includes a wide range of materials. Different industry verticals use packaging resins because they increase the safety of the stored goods and lengthen their shelf life. The primary factor driving the market growth rate is the increase in demand for packaging resins from the food and beverage sector. Growth and expansion of numerous end user verticals in emerging economies, as well as increasing demand for packaging resins in industrial applications, will both directly and positively impact these countries.
impact the market’s growth rate. Rising demand for eco-friendly packaging resins in automotive and transportation applications, accelerating demand for these materials, surging rationalisation of packaging materials, and growing attention to technology are all contributing to increased awareness of the advantages of packaging resins over other adhesives or alternatives, such as cost effectiveness and extended shelf life of products.
Global Packaging Resins Market: Major Players
Global Packaging Resins Market: Types
Low Density Polyethylene (LDPE)
High Density Polyethylene (HDPE)
Polyethylene Terephthalate (PET)
Polystyrene (PS) & Expanded Polystyrene (EPS)
Polyvinyl Chloride (PVC)
Global Packaging Resins Market: Applications
Food & Beverage
One of the main factors influencing demand for packaging resins is the growing use of low-density polyethylene (LDPE) in film applications because of its adaptability, durability, and relative transparency, as well as in the production of flexible bottles and lids. The market is comprehensively evaluated in the Global Packaging Resins Market report for the anticipated time frame. The report includes a number of sections as well as an analysis of the trends and other elements that are significantly influencing the market. Through the drivers, restraints, opportunities, and challenges that are part of the market dynamics, these factors’ effects on the market are described. Opportunities and challenges are extrinsic market factors, whereas drivers and restraints are intrinsic market factors. Worldwide Packaging Resins