According to a new market report published by Lucintel, the future of the packaging resin market looks promising with opportunities in food & beverage, consumer goods, healthcare, and industrial packaging applications. The global packaging resin market is expected to grow with a CAGR of 8% from 2020 to 2025. The major drivers for this market are increasing demand for longer shelf life of products and growing awareness of protecting food products from perishing easily.
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Packaging resins are the main base of all plastics created with heat that cracks the hydrocarbons; this is called the cracking process. In this market, LDPE (low density polyethylene), PP (polypropylene), HDPE (high density polyethylene), PET (polyethylene terephthalate), PS (polystyrene), and PVC (polyvinyl chloride) are the major types of packaging resin. Lucintel forecasts that LDPE will remain the largest type segment over the forecast period, as it has flexibility, moisture barrier, toughness, chemical resistance, availability of LDPE resins at cheap rates, and it is used for a wide range of industries.
Within this market, food & beverages will remain the largest application segment over the forecast period due to rising demand for increased shelf life of products, thus protecting food products for longer periods.
Asia Pacific will remain the largest region, and it is also expected to witness the highest growth over the forecast period due to the growing demand from the FMCG (fast-moving consumer goods) and food & beverage industries in the region.
ExxonMobil, Sinopec, LyondellBasell Industries Holdings, SABIC, PetroChina, and DowDupont are among the major suppliers in the global packaging resin market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global packaging resin market by type, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Packaging Resin Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global packaging resin market by type, application, and region as follows:
By Type [Value ($ Million) shipment analysis for 2014 – 2025]:
LDPE (Low Density Polyethylene)
PP (Polypropylene)
HDPE (High Density Polyethylene)
PET (Polyethylene Terephthalate)
PS (Polystyrene)
PVC (Polyvinyl Chloride)
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Food & Beverages
Consumer Goods
Healthcare
Industrial
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
Spain
Germany
France
This more than 150-pages research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.