Polymer Resin Market Formulates A Phenomenal Growth With A Staggering CAGR

Polymer Resin Global Market - Overview
The Global Polymer Resin Market is growing with the rapid pace; mainly due to the burgeoning Automotive Industry. According to a recent study report published by the Market Research Future, The global Polymer Resin Market is booming and expected to gain prominence over the forecast period growing rapidly. The global Polymer Resin market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022). The market crossed USD 60 billion mark by 2016 with a CAGR of more than 7.2%.

The global Polymer Resin market has seen a remarkable growth over the past few years. The market is majorly driven by the automotive industry and other application industries such as electrical and electronic, construction, medical and consumer and industrial. The global Polymer Resin market is significantly influenced by the rising trend of automotive industry which include lower emission, light vehicles and fuel efficiency and others. Additionally, burgeoning Pharmaceutical industry and Personal Care product industry is also contributing equally as automotive industry to the market growth. Moreover, the rising number of vehicles in APAC region particularly in China, India and Indonesia is also one of the major growth driver.

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Polymer Resin is a clear liquid plastic product that cures (hardens) to create a thick, durable, glossy coating. Once cured, it is fade-proof and water-resistant. This type of resin is commonly used on furniture to seal finishes and create a durable, glass-like surface, and it's also used in many other arts and crafts when the artist wants a thick, glossy coating. Once the resin has cured completely, it can be cleaned normally using water and some mild soap on a damp cloth. Minor scratches on the surface can be rubbed away; the heat of friction causes the scratched resin to melt slightly and flow back into an unbroken surface. However it is not resistant to harsh chemicals or abrasives. They can damage the surface.

Polymer Resin is used as a processing aid and compatibility enhancer in PET and has a unique use as a toughening automotive parts. From keeping food fresh to storing medicines safely, Polymer Resin packaging help packages stay secure and intact throughout the distribution chain. And they contribute to reduced packaging, creating less waste.

Apart from Automotive industry, polymer Resin are widely used in the following applications too. Beverage and Food Packaging Design, Beverage Packaging and Containers, Dairy and Cheese Packaging, Dry Food and Snack Packaging, Case Ready Meat Packaging & Barrier Shrink Bags for meat packaging, Personal Care & cosmetic packaging, Pharmaceutical packaging, Consumer Packaging.

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Polymer Resin Global Market - Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Polymer Resin appears to be highly consolidated. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. Manufacturers try to build unique capabilities, from polymer development, to compounding and processing facilities, to end-use trial runs and testing, to deliver differentiated performance no matter the polymer packaging resin application. They use our world-class expertise across multiple polymer platforms to integrate cutting-edge science, design, manufacturing excellence, and processing technology to give shape to smarter ideas to the world.

Manufacturers try to support a global network of regional application development experts who work with customers throughout the value chain to develop innovative solutions in automotive, packaging, construction, consumer goods, electrical and electronics, healthcare and more. Through collaboration, Manufacturers try to work out cost and risk out of the product-development cycle so that the customers can innovate with confidence. These manufacturers also collaborate with equipment manufacturers, converters, and brand owners to create high-performance packaging structures that help reduce cost and environmental impact.

Manufacturers offer a range of resins to meet client’s specific needs. Adhesive resins create a strong bond between dissimilar materials, while sealant resins offer leak-free durability. Barrier resins preserve freshness, reduce flavour transfer, and extend shelf life. Modifier resins help improve packaging structure performance. Peel able lidding resins can seal to, and peel off of, almost anything. Resins for moulded goods offer outstanding durability and decorating flexibility.

Polymer Resin Global Market - Segments
The Polymer Resin Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Types: Comprises Polystyrene (PS), Polyethylene (HDPE, LDPE, LLDPE), Polyvinyl chloride (PVC), Polypropylene (PP), PET (PET Bottle Resin) and EPS (Expandable Polystyrene).

Segmentation by Applications: Comprises Electrical and Electronic, Automotive, Construction, Medical and Consumer and Industrial and other.
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

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Polymer Resin Global Market - Regional Analysis
Geographically, APAC is expected to lead the market followed by North America and Europe. APAC will be the dominating market for global polymer resin, accounting for more than 30% share by 2022. This share is attributed to the growing demand from application segment, emerging economies and government initiatives.

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This release was published on openPR.