Press release
K-Resin Market, Industry Research, Regional Outlook, Competitive Market Share & Forecast, 2017-2024.
K-Resin Market size will grow at a consistent pace during the forecast time frame. The material is a styrene butadiene copolymer. Its various grades are used in extrusion blow molding, film extrusion, heat molding and injections. It is known as transparent material of remarkable brilliance. The compound is recognized for its unique combination of clarity, stiffness and exceptional gloss. It provides good cycle time and design flexibility in various products such as toys, hangers and medical application.
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The k-resin market is segmented into types that include KR01, KR3, KR10, KR11, KR52, KR53, KR5, KR38 and KR40. Industries using the resin include pharmaceuticals, toy and packed food.
Various applications in these industries include food packaging, medical devices, labeling, twist, shrink film and flooring system.
North America, led by US is world’s most recognized pharmaceutical industry. It contributes over 40% in the global pharmaceutical industry. It hosts major companies that are contributing in the medical industry on a global basis. The product is widely used in medical devices to prevent it from accidental breakage. Flourishing pharmaceutical industry will surge the k-resin market simultaneously in the forecasted time frame. Europe will register a decent growth in the k-resin market. Convenience plays a vital role in consumption pattern, busy work schedule and changing lifestyle has boosted the packed food industry. Growing packed food industry is further contributing in the k-resin market. The product is used in packaging of food materials that provide longer shelf life and clarity to the packed food. MEA, led by Niger will depict noticeable growth in k-resin market. The country has the highest birth rate of over 6% that has increased the demand for toys in the country.
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Prominent manufacturers in k-resin market are Kamdar Plastics, Chevron Philips Chemicals, INEOS Styrolution, Amco International, Lanzhou Qianmiaonuo Trading Company, Xinle City Hongyuan Carbon Black sales center, B.K Plant, Shanghai Tankii Alloy Material Co. Ltd., China MK group and HongKong Baijin International Trading Co.Ltd. INEOS Styrolution acquired Chevron Philips Chemicals, the acquisition was to offer a broad selection of SBC products customers across the world. The company wanted to strengthen itself to offer various kinds of product and to follow triple growth strategy.
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