PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1284195
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1284195
Packaging Resins Market Forecasts to 2028 - Global Analysis By Type, Application and By Geography
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
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- 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
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- 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
- Table 1 Global Packaging Resins Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Packaging Resins Market Outlook, By Type (2020-2028) ($MN)
- Table 3 Global Packaging Resins Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
- Table 4 Global Packaging Resins Market Outlook, By Low Density Polyethylene (LDPE) (2020-2028) ($MN)
- Table 5 Global Packaging Resins Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
- Table 6 Global Packaging Resins Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
- Table 7 Global Packaging Resins Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
- Table 8 Global Packaging Resins Market Outlook, By High Density Polyethylene (HDPE) (2020-2028) ($MN)
- Table 9 Global Packaging Resins Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
- Table 10 Global Packaging Resins Market Outlook, By Other Types (2020-2028) ($MN)
- Table 11 Global Packaging Resins Market Outlook, By Application (2020-2028) ($MN)
- Table 12 Global Packaging Resins Market Outlook, By Healthcare (2020-2028) ($MN)
- Table 13 Global Packaging Resins Market Outlook, By Food & Beverage (2020-2028) ($MN)
- Table 14 Global Packaging Resins Market Outlook, By Industrial (2020-2028) ($MN)
- Table 15 Global Packaging Resins Market Outlook, By Consumer Goods (2020-2028) ($MN)
- Table 16 Global Packaging Resins Market Outlook, By Cosmetics and Personal Care (2020-2028) ($MN)
- Table 17 Global Packaging Resins Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 18 North America Packaging Resins Market Outlook, By Country (2020-2028) ($MN)
- Table 19 North America Packaging Resins Market Outlook, By Type (2020-2028) ($MN)
- Table 20 North America Packaging Resins Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
- Table 21 North America Packaging Resins Market Outlook, By Low Density Polyethylene (LDPE) (2020-2028) ($MN)
- Table 22 North America Packaging Resins Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
- Table 23 North America Packaging Resins Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
- Table 24 North America Packaging Resins Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
- Table 25 North America Packaging Resins Market Outlook, By High Density Polyethylene (HDPE) (2020-2028) ($MN)
- Table 26 North America Packaging Resins Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
- Table 27 North America Packaging Resins Market Outlook, By Other Types (2020-2028) ($MN)
- Table 28 North America Packaging Resins Market Outlook, By Application (2020-2028) ($MN)
- Table 29 North America Packaging Resins Market Outlook, By Healthcare (2020-2028) ($MN)
- Table 30 North America Packaging Resins Market Outlook, By Food & Beverage (2020-2028) ($MN)
- Table 31 North America Packaging Resins Market Outlook, By Industrial (2020-2028) ($MN)
- Table 32 North America Packaging Resins Market Outlook, By Consumer Goods (2020-2028) ($MN)
- Table 33 North America Packaging Resins Market Outlook, By Cosmetics and Personal Care (2020-2028) ($MN)
- Table 34 North America Packaging Resins Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 35 Europe Packaging Resins Market Outlook, By Country (2020-2028) ($MN)
- Table 36 Europe Packaging Resins Market Outlook, By Type (2020-2028) ($MN)
- Table 37 Europe Packaging Resins Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
- Table 38 Europe Packaging Resins Market Outlook, By Low Density Polyethylene (LDPE) (2020-2028) ($MN)
- Table 39 Europe Packaging Resins Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
- Table 40 Europe Packaging Resins Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
- Table 41 Europe Packaging Resins Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
- Table 42 Europe Packaging Resins Market Outlook, By High Density Polyethylene (HDPE) (2020-2028) ($MN)
- Table 43 Europe Packaging Resins Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
- Table 44 Europe Packaging Resins Market Outlook, By Other Types (2020-2028) ($MN)
- Table 45 Europe Packaging Resins Market Outlook, By Application (2020-2028) ($MN)
- Table 46 Europe Packaging Resins Market Outlook, By Healthcare (2020-2028) ($MN)
- Table 47 Europe Packaging Resins Market Outlook, By Food & Beverage (2020-2028) ($MN)
- Table 48 Europe Packaging Resins Market Outlook, By Industrial (2020-2028) ($MN)
- Table 49 Europe Packaging Resins Market Outlook, By Consumer Goods (2020-2028) ($MN)
- Table 50 Europe Packaging Resins Market Outlook, By Cosmetics and Personal Care (2020-2028) ($MN)
- Table 51 Europe Packaging Resins Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 52 Asia Pacific Packaging Resins Market Outlook, By Country (2020-2028) ($MN)
- Table 53 Asia Pacific Packaging Resins Market Outlook, By Type (2020-2028) ($MN)
- Table 54 Asia Pacific Packaging Resins Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
- Table 55 Asia Pacific Packaging Resins Market Outlook, By Low Density Polyethylene (LDPE) (2020-2028) ($MN)
- Table 56 Asia Pacific Packaging Resins Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
- Table 57 Asia Pacific Packaging Resins Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
- Table 58 Asia Pacific Packaging Resins Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
- Table 59 Asia Pacific Packaging Resins Market Outlook, By High Density Polyethylene (HDPE) (2020-2028) ($MN)
- Table 60 Asia Pacific Packaging Resins Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
- Table 61 Asia Pacific Packaging Resins Market Outlook, By Other Types (2020-2028) ($MN)
- Table 62 Asia Pacific Packaging Resins Market Outlook, By Application (2020-2028) ($MN)
- Table 63 Asia Pacific Packaging Resins Market Outlook, By Healthcare (2020-2028) ($MN)
- Table 64 Asia Pacific Packaging Resins Market Outlook, By Food & Beverage (2020-2028) ($MN)
- Table 65 Asia Pacific Packaging Resins Market Outlook, By Industrial (2020-2028) ($MN)
- Table 66 Asia Pacific Packaging Resins Market Outlook, By Consumer Goods (2020-2028) ($MN)
- Table 67 Asia Pacific Packaging Resins Market Outlook, By Cosmetics and Personal Care (2020-2028) ($MN)
- Table 68 Asia Pacific Packaging Resins Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 69 South America Packaging Resins Market Outlook, By Country (2020-2028) ($MN)
- Table 70 South America Packaging Resins Market Outlook, By Type (2020-2028) ($MN)
- Table 71 South America Packaging Resins Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
- Table 72 South America Packaging Resins Market Outlook, By Low Density Polyethylene (LDPE) (2020-2028) ($MN)
- Table 73 South America Packaging Resins Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
- Table 74 South America Packaging Resins Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
- Table 75 South America Packaging Resins Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
- Table 76 South America Packaging Resins Market Outlook, By High Density Polyethylene (HDPE) (2020-2028) ($MN)
- Table 77 South America Packaging Resins Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
- Table 78 South America Packaging Resins Market Outlook, By Other Types (2020-2028) ($MN)
- Table 79 South America Packaging Resins Market Outlook, By Application (2020-2028) ($MN)
- Table 80 South America Packaging Resins Market Outlook, By Healthcare (2020-2028) ($MN)
- Table 81 South America Packaging Resins Market Outlook, By Food & Beverage (2020-2028) ($MN)
- Table 82 South America Packaging Resins Market Outlook, By Industrial (2020-2028) ($MN)
- Table 83 South America Packaging Resins Market Outlook, By Consumer Goods (2020-2028) ($MN)
- Table 84 South America Packaging Resins Market Outlook, By Cosmetics and Personal Care (2020-2028) ($MN)
- Table 85 South America Packaging Resins Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 86 Middle East & Africa Packaging Resins Market Outlook, By Country (2020-2028) ($MN)
- Table 87 Middle East & Africa Packaging Resins Market Outlook, By Type (2020-2028) ($MN)
- Table 88 Middle East & Africa Packaging Resins Market Outlook, By Polyethylene Terephthalate (PET) (2020-2028) ($MN)
- Table 89 Middle East & Africa Packaging Resins Market Outlook, By Low Density Polyethylene (LDPE) (2020-2028) ($MN)
- Table 90 Middle East & Africa Packaging Resins Market Outlook, By Polyvinyl Chloride (PVC) (2020-2028) ($MN)
- Table 91 Middle East & Africa Packaging Resins Market Outlook, By Polypropylene (PP) (2020-2028) ($MN)
- Table 92 Middle East & Africa Packaging Resins Market Outlook, By Polystyrene (PS) (2020-2028) ($MN)
- Table 93 Middle East & Africa Packaging Resins Market Outlook, By High Density Polyethylene (HDPE) (2020-2028) ($MN)
- Table 94 Middle East & Africa Packaging Resins Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
- Table 95 Middle East & Africa Packaging Resins Market Outlook, By Other Types (2020-2028) ($MN)
- Table 96 Middle East & Africa Packaging Resins Market Outlook, By Application (2020-2028) ($MN)
- Table 97 Middle East & Africa Packaging Resins Market Outlook, By Healthcare (2020-2028) ($MN)
- Table 98 Middle East & Africa Packaging Resins Market Outlook, By Food & Beverage (2020-2028) ($MN)
- Table 99 Middle East & Africa Packaging Resins Market Outlook, By Industrial (2020-2028) ($MN)
- Table 100 Middle East & Africa Packaging Resins Market Outlook, By Consumer Goods (2020-2028) ($MN)
- Table 101 Middle East & Africa Packaging Resins Market Outlook, By Cosmetics and Personal Care (2020-2028) ($MN)
- Table 102 Middle East & Africa Packaging Resins Market Outlook, By Other Applications (2020-2028) ($MN)
