Packaging Resins Market: Global Opportunity Analysis and Industry Forecast, 2022-2029

Packaging Resins Market Analysis 2020-2027:

Plastic resins are light in weight than other materials. Adhesive resins form a solid bond among diverse materials, while sealant resins provide leak-free solidness. Barrier resins shield freshness, reduce taste loss, and increase shelf life. Modifier resins aid to boost overall performance of packaging structure. Packaging resins used in molded merchandise provide high durability and flexibility. In terms of type, the packaging resins market is segmented into PP, LDPE, HDPE, PS & EPS, pet, and p.c. They possess suitable resistance to mold, bacteria, and corrosion. High-density polyethylene (HDPE) is most commonly used to manufacture plastic. In addition, it is used to fabricate various sorts of jugs and containers. Uncolored packing containers are translucent, and exhibit barrier and stiffness traits, and are appropriate for packaging items with short shelf life. High demand for packaging resins is attributed to changes in consumer preference for plastic packaged products, which is the most influencing aspect transforming the packaging industry.

Market scope and structure analysis

Segmentation by type

• Low-density Polyethylene (LDPE)
• Polypropylene (PP)
• High-density Polyethylene (HDPE)
• Polyethylene Terephthalate (PET)
• Polystyrene (PS) & Expanded Polystyrene (EPS)
• Polyvinyl Chloride (PVC)

Segmentation by application

• Food & Beverage
• Consumer Goods
• Healthcare
• Industrial
• Others (Agriculture and Textiles)

COVID-19 scenario analysis

The outbreak of novel coronavirus has declined the growth of the food & beverages industry. Lockdown implemented by governments of various countries to restrict movement has enforced consumers to stay home to prevent the spread of the virus. The stay home policy along with awareness about the virus has reduced the processed food consumption, this increasing the consumption of homemade food.. This is anticipated to create a negative impact on the growth of the packaging industry. Moreover, the international travel ban has reduced the export and import activities, which will reduce the demand for the packaging products.

Market scenario analysis

Surge in demand for packaging resins across numerous industrial sectors, including food & beverages and consumer goods, is major aspect expected to boost growth of the global market. Low costs, high availability, and wide usage of LDPE in numerous end-use industries are expected to augment the packaging resins market throughout the forecast period. Increase in application of packaging resins within the healthcare industry is a key factor expected to drive the revenue growth of the packaging resins market during the forecast period. Moreover, surge in demand for bioplastics is positively impacting the global packaging resins market. However, the issues about environmental risks due to plastic, increase in awareness concerning limited usage of plastic, and ban on plastic substances by several government bodies are projected to hamper the packaging resins market.

Regional insights

Region wise, the global packaging resins market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific is one of the largest market for packaging resins, due to robust growth of numerous end-use industries, including food & beverages. Rapid economic growth and increase in middle-class population in China and India has increased the customer base for food, beverages, and FMCG products. The packaging resins market in North America and Europe is majorly driven by increase in demand for food and beverages, consumer merchandise, and healthcare products. 

Key benefits of the report

• This study presents the analytical depiction of the global packaging resins industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global packaging resins market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global packaging resins market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the global packaging resins market research report:

• hich are the leading players active in the global packaging resins market?W
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Key Market Segments & Key Market Players