DUBLIN--(BUSINESS WIRE)--The "Packaging Resins Market by Type (LDPE, PP, HDPE, PET, PS, PVC), Application (Food & Beverage, Consumer Goods, Healthcare, Industrial), and Region (North America, Europe, Asia Pacific, Middle East & Africa & South America) - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The packaging resins market is estimated at USD 192.17 billion in 2017 and is projected to reach USD 277.13 billion by 2022, at a CAGR of 7.6% from 2017 to 2022
Growing demand from the food & beverage, FMCG, and healthcare industries, downsizing of packaging, and cost-effectiveness, and increased shelf-life of products are expected to drive the demand for packaging resins. Stringent regulations imposed on the use of plastics may pose a restraint for the market, but to a lower extent.
The healthcare application is projected to be fastest-growing market for packaging resins due to the increasing demand from the pharmaceutical production sector. Packaging resins enable the protection of healthcare products from moisture, gas, light, and temperature. These factors are expected to drive the packaging resins market for the healthcare application.
Polypropylene is expected to be the fastest-growing segment of the packaging resins market by type, due to its properties, such as excellent low temperature impact strength, high heat deflection temperature, and rigidity.
The packaging resins market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period due to the growing food & beverage and Fast-Moving Consumer Goods (FMCG) industries. Increasing demand for applications, such as food & beverages, healthcare, and consumer goods sectors are driving the market for packaging resins in the region.
Market Dynamics
Drivers
- Downsizing of Packaging Materials
- Cost-Effectiveness & Increased Shelf-Life of Products
Restraints
- Rising Concerns Pertaining to Plastic Disposal
Opportunities
- Growing Demand for Sustainable Packaging Solutions
- Modern Packaging Technologies
Challenges
- Recyclability of Flexible Plastics
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Packaging Resins Market, By Type
7 Packaging Resins Market, By Application
8 Packaging Resins Market, By Region
9 Competitive Landscape
10 Company Profiles
- Sinopec Corporation
- Exxonmobil Chemical
- Lyondellbasell Industries Holdings B.V
- SABIC
- Petrochina Ltd.
- Borealis AG
- Braskem S.A.
- Dowdupont Inc.
- Indorama Ventures Public Company Ltd.
- M&G Chemicals
- Arkema S.A.
- BASF SE
- Borouge
- DAK Americas LLC
- Far Eastern New Century Corporation
- Ineos Group AG
- Jiangsu Sanfangxiang Group Co., Ltd.
- Reliance Industries Ltd.
- Styrolution Group GmbH
- Total S.A.
For more information about this report visit https://www.researchandmarkets.com/research/vvfwkk/277_billion?w=4
