Packaging Resins Market by Type (LDPE, PP, HDPE, PET, PS, PVC), Application (Food & Beverage, Consumer Goods, Healthcare, Industrial), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Forecast to 2022
The packaging resins market is projected to grow at a CAGR of 7.6% during the forecast period
The packaging resins market is estimated at USD 192.17 billion in 2017 and is projected to reach USD 277.13 billion by 2022, at a CAGR of 7.6% from 2017 to 2022. Growing demand from the food & beverage, FMCG, and healthcare industries, downsizing of packaging, and cost-effectiveness, and increased shelf-life of products are expected to drive the demand for packaging resins. Stringent regulations imposed on the use of plastics may pose a restraint for the market, but to a lower extent.
Among applications, the healthcare segment is projected to grow at the highest CAGR during the forecast period
The healthcare application is projected to be fastest-growing market for packaging resins due to the increasing demand from the pharmaceutical production sector. Packaging resins enable the protection of healthcare products from moisture, gas, light, and temperature. These factors are expected to drive the packaging resins market for the healthcare application.
Among type, the polypropylene segment is projected to grow at the highest CAGR from 2017 to 2022
Polypropylene is expected to be the fastest-growing segment of the packaging resins market by type, due to its properties, such as excellent low temperature impact strength, high heat deflection temperature, and rigidity.
The packaging resins market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period
The packaging resins market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period due to the growing food & beverage and Fast-Moving Consumer Goods (FMCG) industries. Increasing demand for applications, such as food & beverages, healthcare, and consumer goods sectors are driving the market for packaging resins in the region.
This study was validated through primaries conducted with various industry experts, worldwide. The primary sources were divided into 3 categories, namely, company type, designation, and region.
By Company Type – Tier 1-70%, Tier 2 -20%, and Tier 3-10%
By Designation - C Level-5%, Director Level-20%, and Others-75%
By Region - North America-10%, Europe-35%, Asia Pacific-45%, Middle East & Africa -5%, and South America-5%
Companies Profiled in the Report:
Key players profiled in the report include ExxonMobil Corporation (US), Sinopec Corporation (China), LyondellBasell Industries Holdings B.V. (Netherlands), SABIC (Saudi Arabia), PetroChina Company Ltd.(China), and DowDupont Inc. (US).
The report offers insights on packaging resins used for various applications across regions. It aims at estimating the size of the packaging resins market during the forecast period and projects future growth potential of the market across different segments, such as type, application, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the packaging resins market, along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in the packaging resins market by providing them the closest approximations of the revenues for the overall market and its various subsegments. This report will help stakeholders obtain a better understanding of the competitive landscape and gain insights to enhance their businesses and devise suitable market strategies. The report will also help stakeholders understand the pulse of the market and help acquire information on key market drivers, restraints, challenges, and opportunities impacting the growth of the packaging resins market.