Packaging Resins Industry Is Expand at a CAGR of 7% to Reach US$ 326 billion by 2028

New York, Global Packaging Resins Market report from Global Insight Services is the single authoritative source of intelligence on Packaging Resins Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Packaging resins are a type of synthetic polymer that is used to make packaging materials. They are typically made from petroleum-based feedstocks, such as ethylene and propylene, and are used to make a variety of packaging materials, such as plastic bags, bottles, and containers. Packaging resins are typically designed to be lightweight, strong, and durable, and to resist degradation from sunlight, heat, and chemicals.

Key Players

The Packaging Resins Market includes players such as Arkema Group, BASF SE, Borealis AG, Braskem, Exxon Mobil Corporation, Indorama Ventures Public Company Limited, LyondellBasell Industries Holdings B.V., M&G Chemicals SA, SABIC, and The Dow Chemical Company.

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Key Trends

Consumer desire for convenient packaging, rising demand from the food and healthcare industries due to the product's lightweight nature, and convenience of use are factors boosting demand for plastic packaging, and thus driving growth in the global packaging resins market.

Bio-plastic packaging is in high demand since it helps minimize carbon footprint and eliminates the need for landfill dumping. Plastics generate over 200 million tonnes of garbage, causing substantial landfill difficulties.

Food joints' increasing preference for economical, light-weight, beneficial, and simple-to-use packaging is likely to drive market growth.

Key Drivers

The key drivers of the packaging resins market are the growing demand from the food and beverage industry and the increasing demand for flexible packaging.

The food and beverage industry is the largest end-user of packaging resins and is expected to grow at a significant rate in the coming years. The rising disposable incomes and the changing lifestyle of consumers are the major factors driving the growth of the food and beverage industry.

Flexible packaging is expected to grow at the highest rate during the forecast period. The growing demand for ready-to-eat food and the rising demand for packaged food are the major factors driving the growth of the flexible packaging market.

The other key drivers of the packaging resins market are the growing demand from the healthcare industry and the increasing use of biodegradable packaging.

Market Segments

The Packaging Resins Market is segmented by type, application, and region. Based on the type, the packaging resins market is divided into LDPE, PP, HDPE, and others. On the basis of application, it is bifurcated into application, the packaging resins market is bifurcated into food & beverage, consumer goods, healthcare, and others. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World

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