Packaging Resins Market to Cross USD 471.87 billion, at a CAGR of 8.32% from 2023 - 2029

Exactitude Consultancy Market Research analyses that the Packaging Resins Market will witness a CAGR of 8.32% for the forecast period of 2023-2029 and is likely USD 240.53 billion in 2022 to reach at USD 471.87 billion by 2029.

Plastic resin material, which is a broad category of resins with numerous varieties, is used to make packaging resins. Plastic resins are created by heating big hydrocarbon molecules to a temperature where they break down into smaller particles using synthetic ingredients. In the last few decades, there has been substantial advancement in packing materials and technologies. One of the most significant scientific achievements in the world of plastic packaging is the invention of bioplastic. Plastics made from renewable biomass sources such as vegetable fats and oils, woodchips, maize starch, agricultural leftovers, and others are known as bioplastics.

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Packaging Resins Key Market Trends

Food & Beverage Sector to Lead the Market Demand:

✦ The food & beverage sector stands to be the controlling sector among applications, where packaging necessity is extensively compelled by a rising need to rise the shelf life of products, therefore, protecting food foodstuffs for longer periods. Packaging is one of the main features considered by the companies engaged in the food & beverage sector to confirm compatibility of packaging material with food, the durability of food, the safety of human health, & the appeal of the packaging.

In the food & beverages sector

✦ China has touched around US$ 595 Bn. in the year 2022. The rise in the old population, rising demand for suitable packaging, development of the e-commerce commercial, the rising online food delivery sector, & the packaging of products in dissimilar sizes & quantities are some of the market circumstances which have been increasing the demand for flexible packaging, worldwide.

✦ In the year 2022, the U.S packaging sector made a total value of US$ 180 Bn. According to MMR report study, in the U.S, more than 46 percent of Americans are eager to pay more for food & beverage products kept in flexible packaging than for food produces preserved in non-flexible packaging. Also, seventy one percent of Americans may select flexible packaging than non-flexible packaging for a product they consider purchasing.

Packaging Resins Market: Driving Factors

The Packaging Resins Market has witnessed significant growth over the years, driven by various factors:

1. Rapid Urbanization: The growing urban population demands better infrastructure, boosting the demand for construction materials, where Packaging Resins play a vital role.
2. Packaging Industry Growth: The rise in e-commerce and consumer goods has led to an increased demand for efficient packaging solutions, propelling the Packaging Resins Market.
3. Automotive Industry Expansion: With the surge in automotive production, the demand for lightweight and durable materials like Packaging Resins has increased.
4. Advancements in Healthcare: The healthcare sector's continuous advancements require safe and reliable materials, making Packaging Resins crucial in medical applications.
5. Sustainable Solutions: Packaging Resins' recyclability and potential for creating sustainable packaging have made them attractive to environmentally conscious industries and consumers.

Prominent Key players of the Packaging Resins Market survey report:

Historical data available in the report elaborates on the development of the Packaging Resins on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - ExxonMobil Corporation (US), Sinopec Corporation (China), LyondellBasell Industries Holdings B.V. (Netherlands), SABIC (Saudi Arabia), PetroChina Company Ltd. (China), DowDupont Inc. (US).

Key Highlights:

In February 2022, recent advancements in Smart Biogenic Packaging will reshape the future of the Food Packaging Industry. Biogenic packaging will help to protect the environment as it is bio-degradable and eco-friendly. It has become a solution to lower carbon footprints and ensure food safety.

In October 2020, LyondellBasell and Sasol announced that they entered a definitive agreement to form a 50/50 joint venture, through which LyondellBasell is likely to acquire 50% of Sasol's 1.5 MM ton ethane cracker, 0.9 MM ton low and linear low-density polyethylene plants, and associated infrastructure for a total consideration of USD 2 billion. The venture is expected to operate under the name Louisiana Integrated PolyEthylene JV LLC.

In September 2020, INEOS Olefins & Polymers announced its partnership with Saica Natur in a supply agreement for recycled LDPE and LLDPE. The long-term agreement may help INEOS serve the growing demand for increased recycled products in sustainable, virgin quality flexible packaging.

Packaging Resins Market Segmentation:

Packaging Resins Market by Type, 2023-2029, (USD Millions) (Kilotons)

» LDPE

» Pp

» HDPE

» Pet

» Ps

» PVC

Packaging Resins Market by Application, 2023-2029, (USD Millions) (Kilotons)

» Food & Beverage

» Consumer Goods

» Healthcare

» Industrial

The regional outlook by revenue covers the countries namely:

✦ North America (United States, Canada and Mexico)

✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

✦ South America (Brazil, Argentina, Colombia, and Rest of South America)

✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Key Features of the Packaging Resins Market Report: -

⇨  Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.

⇨  Examine the market opportunities for stakeholders by identifying higher growth sections.

⇨  To study and analyse the global Packaging Resins industry status and forecast including key regions.

⇨  An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

⇨  It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

⇨  It helps you make strategic business decisions and investment plans.

Competitive Landscape

Competition has been growing for the Packaging Resins industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.

► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.

► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.

► Company History: The development of predominant occasions associated to the company.

► Main merchandise and services: A listing of the company's fundamental products, services, and brands.

► Main Competitors: A listing of the company's fundamental competitors.

► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.

Table of Contents

Global Packaging Resins Market Research Report 2023-2029

1 Packaging Resins Market Overview

1.1 Product Overview and Scope of Packaging Resins

1.2 Packaging Resins Segment by Type (Product Category)

1.3 Global Packaging Resins market Segment by Application

1.4 Global Packaging Resins Market by Region (2023-2029)

1.4.1 Global Packaging Resins Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)

1.4.2 North America Status and Prospect (2023-2029

1.4.3 Europe Status and Prospect (2023-2029)

1.4.4 China Status and Prospect (2023-2029)

1.4.5 Japan Status and Prospect (2023-2029)

1.4.6 Southeast Asia Status and Prospect (2023-2029)

1.4.7 India Status and Prospect (2023-2029)

1.5 Global Market Size (Value) of Packaging Resins (2023-2029)

1.5.1 Global Packaging Resins Revenue Status and Outlook (2023-2029)

1.5.2 Global Packaging Resins Capacity, Production Status and Outlook (2023-2029)

…

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