Packaging Resins Market
Packaging Resins Market Forecasts to 2028 - Global Analysis By Type (Polyethylene Terephthalate (PET), Low Density Polyethylene (LDPE), Polyvinyl Chloride (PVC), Polypropylene (PP), Polystyrene (PS), High Density Polyethylene (HDPE), Expanded Polystyrene (EPS) and Other Types), Application and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $224.99 BN |
|
Projected Year Value (2028) |
US $379.42 BN |
|
CAGR (2022 - 2028) |
9.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Packaging Resins Market is accounted for $224.99 billion in 2022 and is expected to reach $379.42 billion by 2028 growing at a CAGR of 9.1% during the forecast period. The weight of plastic resins is lower than that of other materials. While sealant resins offer solidity without leaks, adhesive resins create a strong bond between various materials. Barrier resins protect freshness, lessen flavour deterioration, and lengthen shelf life. High levels of flexibility and durability are provided by packaging resins used in moulded products. They have the necessary resistance to corrosion, bacteria, and mould. Uncoloured packaging materials are translucent, have barrier and rigidity characteristics, and are suitable for storing products with a limited shelf life.
According to the Flexible Packaging Association, in the United States, more than 46% of Americans are willing to pay more for food and beverage products stored in flexible packaging than for food products kept in non-flexible packaging. According to BBC News, almost 17.5 % of the total amount of food thrown away in the U.K. comes from households. Almost 7.2 million tons of food and drinks from the household are thrown away in the country.
Market Dynamics:
Driver:
Increasing demand from food & beverages sector
The significant demand from the food and beverage industry is anticipated to cause packaging resins to rise rapidly throughout the forecast period. The demand for processed, ready-to-eat, and ready-to-cook food products has significantly increased as a result of the growing population and an increase in disposable income. The demographic numbers also suggest that the packaging industry has been expanding rapidly.
Restraint:
Stringent government norms
The Food & Drug Administration (FDA) strictly regulates the use of plastic due to worries about how plastic packaging could affect foods and medicines. The plastic packaging used for children's toys comes within the purview of the Consumer Product Safety Commission. The government's strict regulations for plastic disposal and consumer and environmental safety are likely to impede market expansion.
Opportunity:
Superior properties of resins
Resins used in plastic packaging are incredibly strong, flexible, non-corrosive, safe, and long-lasting. One of the environmentally friendly packaging options on the market is plastic resin, which uses less energy to produce than metals and other packaging substitutes. The packaging resins industry would develop as a result of these superior features and the relative lower cost than alternatives.
Threat:
Environment concerns
The market for packaging resins is expected to be hampered by worries about the environmental concerns posed by plastics, rising knowledge of the limited use of plastics, and a ban on plastics by various government agencies. However, some factors are anticipated to impede the expansion of the potential market, including the fluctuating price of crude oil and the availability of substitute resins.
Covid-19 Impact
The COVID-19 impact on the global plastics industry had a significant influence on both primary producers and recyclers, which resulted in a general decline in the production and supply of this type of resins, plastics, and other petrochemicals. This contributed to the sector's subsequent economic decline. Due to constraints the government put in place to halt output, the market saw a decline in industrial demand. Demand for packaging resins is being driven mostly by end-use industries like food & beverage, retail, consumer products, and others. However, due to a rise in demand for packaged food products, the sector has also seen positive response from the food & beverage sector.
The polyvinyl chloride (PVC) segment is expected to be the largest during the forecast period
The polyvinyl chloride (PVC) segment is estimated to have a lucrative growth. PVC has a low oxygen transfer rate, is naturally transparent, and is resistant to oils. It can be used for a variety of products, such as flexible shatterproof bottles and jars, blood and blood component containers, catheters, containers, and tubing, as well as heart-lung bypass machines since it has good barrier capabilities for preservation.
The food & beverage segment is expected to have the highest CAGR during the forecast period
The food & beverage segment is anticipated to witness the highest CAGR growth during the forecast period, due to An increase in the demand for packaged food items due to increased customer preferences for frozen food and packed food products as well as the developing trend of online meal ordering is anticipated to have a beneficial effect on the uptake of packaging resins. It is anticipated that these factors will influence this segment's revenue share contribution.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the expansion of product demand. Additionally, the growing middle class in developing nations may fuel the expansion of the packaging resins market in this area. The presence of numerous producers in this area may open up numerous potential opportunities for the packaging resins market.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period. In terms of development and industrialization, it is one of the thriving regions. It is projected that a primary driver of the market would be the expansion of the packaging sector. Additionally, it is employed in the production of numerous varieties of jugs and containers. The development of production techniques and modern packaging technologies are anticipated to fuel the market for packaging resins.
Key players in the market
Some of the key players profiled in the Packaging Resins Market include SABIC, BASF SE, Indorama Ventures Public Company Ltd., Borouge, Sinopec Corporation, Arkema S.A., M&G Chemicals, Styrolution Group GmbH, DowDuPont Inc., ExxonMobil Chemical, DAK Americas LLC, Lyondellbasell Industries Holdings B.V, Ineos Group AG, Petrochina Ltd., Reliance Industries Ltd., Braskem S.A., Borealis AG, Far Eastern New Century Corporation, Jiangsu Sanfangxiang Group Co., Ltd. and Total S.A.
Key Developments:
In September 2020, ExxonMobil introduced new foamable Achieve Advanced Polypropylene, an easy, affordable, and sustainable packaging solution for high volume food and beverage, industrial, and automotive applications.
In October 2019, SABIC demonstrated its leadership in sustainable packaging solutions at K 2019. The company unveiled its product portfolio for sustainable packaging under the brand name TRUCIRCLE.
Types Covered:
• Polyethylene Terephthalate (PET)
• Low Density Polyethylene (LDPE)
• Polyvinyl Chloride (PVC)
• Polypropylene (PP)
• Polystyrene (PS)
• High Density Polyethylene (HDPE)
• Expanded Polystyrene (EPS)
• Other Types
Applications Covered:
• Healthcare
• Food & Beverage
• Industrial
• Consumer Goods
• Cosmetics and Personal Care
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Packaging Resins Market, By Type
5.1 Introduction
5.2 Polyethylene Terephthalate (PET)
5.3 Low Density Polyethylene (LDPE)
5.4 Polyvinyl Chloride (PVC)
5.5 Polypropylene (PP)
5.6 Polystyrene (PS)
5.7 High Density Polyethylene (HDPE)
5.8 Expanded Polystyrene (EPS)
5.9 Other Types
6 Global Packaging Resins Market, By Application
6.1 Introduction
6.2 Healthcare
6.3 Food & Beverage
6.4 Industrial
6.5 Consumer Goods
6.6 Cosmetics and Personal Care
6.7 Other Applications
7 Global Packaging Resins Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 SABIC
9.2 BASF SE
9.3 Indorama Ventures Public Company Ltd.
9.4 Borouge
9.5 Sinopec Corporation
9.6 Arkema S.A.
9.7 M&G Chemicals
9.8 Styrolution Group GmbH
9.9 Dowdupont Inc.
9.10 Exxonmobil Chemical
9.11 DAK Americas LLC
9.12 Lyondellbasell Industries Holdings B.V
9.13 Ineos Group AG
9.14 Petrochina Ltd.
9.15 Reliance Industries Ltd.
9.16 Braskem S.A.
9.17 Borealis AG
9.18 Far Eastern New Century Corporation
9.19 Jiangsu Sanfangxiang Group Co., Ltd.
9.20 Total S.A.
List of Tables
1 Global Packaging Resins Market Outlook, By Region (2020-2028) ($MN)
2 Global Packaging Resins Market Outlook, By Type (2020-2028) ($MN)
3 Global Packaging Resins Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
4 Global Packaging Resins Market Outlook, By Low Density Polyethylene (LDPE) (2020-2028) ($MN)
5 Global Packaging Resins Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
6 Global Packaging Resins Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
7 Global Packaging Resins Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
8 Global Packaging Resins Market Outlook, By High Density Polyethylene (HDPE) (2020-2028) ($MN)
9 Global Packaging Resins Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
10 Global Packaging Resins Market Outlook, By Other Types (2020-2028) ($MN)
11 Global Packaging Resins Market Outlook, By Application (2020-2028) ($MN)
12 Global Packaging Resins Market Outlook, By Healthcare (2020-2028) ($MN)
13 Global Packaging Resins Market Outlook, By Food & Beverage (2020-2028) ($MN)
14 Global Packaging Resins Market Outlook, By Industrial (2020-2028) ($MN)
15 Global Packaging Resins Market Outlook, By Consumer Goods (2020-2028) ($MN)
16 Global Packaging Resins Market Outlook, By Cosmetics and Personal Care (2020-2028) ($MN)
17 Global Packaging Resins Market Outlook, By Other Applications (2020-2028) ($MN)
18 North America Packaging Resins Market Outlook, By Country (2020-2028) ($MN)
19 North America Packaging Resins Market Outlook, By Type (2020-2028) ($MN)
20 North America Packaging Resins Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
21 North America Packaging Resins Market Outlook, By Low Density Polyethylene (LDPE) (2020-2028) ($MN)
22 North America Packaging Resins Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
23 North America Packaging Resins Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
24 North America Packaging Resins Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
25 North America Packaging Resins Market Outlook, By High Density Polyethylene (HDPE) (2020-2028) ($MN)
26 North America Packaging Resins Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
27 North America Packaging Resins Market Outlook, By Other Types (2020-2028) ($MN)
28 North America Packaging Resins Market Outlook, By Application (2020-2028) ($MN)
29 North America Packaging Resins Market Outlook, By Healthcare (2020-2028) ($MN)
30 North America Packaging Resins Market Outlook, By Food & Beverage (2020-2028) ($MN)
31 North America Packaging Resins Market Outlook, By Industrial (2020-2028) ($MN)
32 North America Packaging Resins Market Outlook, By Consumer Goods (2020-2028) ($MN)
33 North America Packaging Resins Market Outlook, By Cosmetics and Personal Care (2020-2028) ($MN)
34 North America Packaging Resins Market Outlook, By Other Applications (2020-2028) ($MN)
35 Europe Packaging Resins Market Outlook, By Country (2020-2028) ($MN)
36 Europe Packaging Resins Market Outlook, By Type (2020-2028) ($MN)
37 Europe Packaging Resins Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
38 Europe Packaging Resins Market Outlook, By Low Density Polyethylene (LDPE) (2020-2028) ($MN)
39 Europe Packaging Resins Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
40 Europe Packaging Resins Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
41 Europe Packaging Resins Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
42 Europe Packaging Resins Market Outlook, By High Density Polyethylene (HDPE) (2020-2028) ($MN)
43 Europe Packaging Resins Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
44 Europe Packaging Resins Market Outlook, By Other Types (2020-2028) ($MN)
45 Europe Packaging Resins Market Outlook, By Application (2020-2028) ($MN)
46 Europe Packaging Resins Market Outlook, By Healthcare (2020-2028) ($MN)
47 Europe Packaging Resins Market Outlook, By Food & Beverage (2020-2028) ($MN)
48 Europe Packaging Resins Market Outlook, By Industrial (2020-2028) ($MN)
49 Europe Packaging Resins Market Outlook, By Consumer Goods (2020-2028) ($MN)
50 Europe Packaging Resins Market Outlook, By Cosmetics and Personal Care (2020-2028) ($MN)
51 Europe Packaging Resins Market Outlook, By Other Applications (2020-2028) ($MN)
52 Asia Pacific Packaging Resins Market Outlook, By Country (2020-2028) ($MN)
53 Asia Pacific Packaging Resins Market Outlook, By Type (2020-2028) ($MN)
54 Asia Pacific Packaging Resins Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
55 Asia Pacific Packaging Resins Market Outlook, By Low Density Polyethylene (LDPE) (2020-2028) ($MN)
56 Asia Pacific Packaging Resins Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
57 Asia Pacific Packaging Resins Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
58 Asia Pacific Packaging Resins Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
59 Asia Pacific Packaging Resins Market Outlook, By High Density Polyethylene (HDPE) (2020-2028) ($MN)
60 Asia Pacific Packaging Resins Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
61 Asia Pacific Packaging Resins Market Outlook, By Other Types (2020-2028) ($MN)
62 Asia Pacific Packaging Resins Market Outlook, By Application (2020-2028) ($MN)
63 Asia Pacific Packaging Resins Market Outlook, By Healthcare (2020-2028) ($MN)
64 Asia Pacific Packaging Resins Market Outlook, By Food & Beverage (2020-2028) ($MN)
65 Asia Pacific Packaging Resins Market Outlook, By Industrial (2020-2028) ($MN)
66 Asia Pacific Packaging Resins Market Outlook, By Consumer Goods (2020-2028) ($MN)
67 Asia Pacific Packaging Resins Market Outlook, By Cosmetics and Personal Care (2020-2028) ($MN)
68 Asia Pacific Packaging Resins Market Outlook, By Other Applications (2020-2028) ($MN)
69 South America Packaging Resins Market Outlook, By Country (2020-2028) ($MN)
70 South America Packaging Resins Market Outlook, By Type (2020-2028) ($MN)
71 South America Packaging Resins Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
72 South America Packaging Resins Market Outlook, By Low Density Polyethylene (LDPE) (2020-2028) ($MN)
73 South America Packaging Resins Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
74 South America Packaging Resins Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
75 South America Packaging Resins Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
76 South America Packaging Resins Market Outlook, By High Density Polyethylene (HDPE) (2020-2028) ($MN)
77 South America Packaging Resins Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
78 South America Packaging Resins Market Outlook, By Other Types (2020-2028) ($MN)
79 South America Packaging Resins Market Outlook, By Application (2020-2028) ($MN)
80 South America Packaging Resins Market Outlook, By Healthcare (2020-2028) ($MN)
81 South America Packaging Resins Market Outlook, By Food & Beverage (2020-2028) ($MN)
82 South America Packaging Resins Market Outlook, By Industrial (2020-2028) ($MN)
83 South America Packaging Resins Market Outlook, By Consumer Goods (2020-2028) ($MN)
84 South America Packaging Resins Market Outlook, By Cosmetics and Personal Care (2020-2028) ($MN)
85 South America Packaging Resins Market Outlook, By Other Applications (2020-2028) ($MN)
86 Middle East & Africa Packaging Resins Market Outlook, By Country (2020-2028) ($MN)
87 Middle East & Africa Packaging Resins Market Outlook, By Type (2020-2028) ($MN)
88 Middle East & Africa Packaging Resins Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
89 Middle East & Africa Packaging Resins Market Outlook, By Low Density Polyethylene (LDPE) (2020-2028) ($MN)
90 Middle East & Africa Packaging Resins Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
91 Middle East & Africa Packaging Resins Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
92 Middle East & Africa Packaging Resins Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
93 Middle East & Africa Packaging Resins Market Outlook, By High Density Polyethylene (HDPE) (2020-2028) ($MN)
94 Middle East & Africa Packaging Resins Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
95 Middle East & Africa Packaging Resins Market Outlook, By Other Types (2020-2028) ($MN)
96 Middle East & Africa Packaging Resins Market Outlook, By Application (2020-2028) ($MN)
97 Middle East & Africa Packaging Resins Market Outlook, By Healthcare (2020-2028) ($MN)
98 Middle East & Africa Packaging Resins Market Outlook, By Food & Beverage (2020-2028) ($MN)
99 Middle East & Africa Packaging Resins Market Outlook, By Industrial (2020-2028) ($MN)
100 Middle East & Africa Packaging Resins Market Outlook, By Consumer Goods (2020-2028) ($MN)
101 Middle East & Africa Packaging Resins Market Outlook, By Cosmetics and Personal Care (2020-2028) ($MN)
102 Middle East & Africa Packaging Resins Market Outlook, By Other Applications (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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