Plastic Calendaring Resins Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polypropylene (PP), Others), By End Use (Food & Beverages, Healthcare & Medical, Automotive, Others), By Region and Competition
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationPlastic Calendaring Resins Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polypropylene (PP), Others), By End Use (Food & Beverages, Healthcare & Medical, Automotive, Others), By Region and Competition
In 2021, the annual sales of retail food and beverage in the United States was around USD 880 billion.
With government's strict rules and policies to decrease single-use plastic waste, boost biodegradable plastics, and emphasis on a sustainable future result in the extensive use and demand for bio-plastic calendaring resins increases. Growing understanding of various properties of these resins, including durability, toughness, flexibility, and abrasion resistance increases the demand of plastic calendaring resins. With rising demand from end-use industries, including food & beverage, healthcare & medical, and cosmetic & personal care are anticipated to drive the global Plastic Calendaring Resins Market in the projected period.
High Demand for Flexible Packaging
Flexible packaging is a technique for enclosing goods in non-rigid materials, allowing for more affordable and adaptable solutions. Food and beverage, personal care, and medical sectors employ flexible packaging. Consumers are drawn to packaging that offers ease, product safety, and longer shelf life. According to research by the Flexible Packaging Association, more than 60% of consumers preferred flexible packaging as it is easier to store, reseal, open, and has a longer shelf life.
For instance, according to the Flexible Packaging Association, approximately 2/3 of all packaging is for food & beverages, and about 90% of flexible packaging is used for these products.
Increasing demand from Food & Beverage
Due to consumers busy schedules and changing consumer preferences, convenience food is getting more and more popular. The variety of readily found at food substitutes has expanded because to innovative packaging and cutting-edge technologies, including packed, frozen, chilled, etc. The makers of packaging are most concerned with providing product safety and sustainability. Food is being packaged by consumer goods companies more often, which has altered customers' desires for quick meals. To achieve this consumer good companies are shifting toward the use of PVC, PET, PETG packaging films for food products. These packaging films have variety of properties like flexible packaging, reseal ability, UV resistance, shock resistance, recyclable nature, improved shelf life, no contamination and low shrinkage tendency. In addition, these packaging films are preferred by many food industries as they are more economical than other packaging material.
For Instance, FSSAI in 2022, released a direction regarding the Operationalization of Draft Food Safety and Standards (Packaging) Amendment Regulations, 2022, regarding using recycled plastic as food contact materials with immediate effect.
Thus, increasing demand from the food & beverage sector leads to the growth of the market in the forecast period.
Polyethylene Terephthalate (PET) will be the Key Type
Polyethylene Terephthalate (PET) calendaring resin
Moreover, PETG
Recent Developments
- In December 2022, SABIC collaborates
with Scientex to develop the world’s first flexible food packaging made
based on advanced recycled OBP, using SABIC certified circular
polypropylene (PP).
- Cosmo Films set up a CPP film production
line in Aurangabad at an investment of USD 18 million for expanding film
production for packaging applications in April 2022.
- In December 2021, SABIC introduced LNP
ELCRIN IQ a new chemically upcycled polybutylene terephthalate (PBT) calendaring
resin made from PET bottle debris that was dumped into the ocean to reduce
ocean pollution.
- The cooperation between NEOS
Olefins & Polymers and Saica Natur in a supply arrangement for
recycled LDPE and LLDPE was announced in September 2020.
Market Segmentation
Global Plastic Calendaring Resins Market
Market Players
Formosa Plastics Corporation, Eastman Chemical Co, Saudi Basic Industries Corporation, Indorama Ventures Public Company Limited, LOTTE Chemical Corporation, LG Chem Ltd., Reliance Industries Limited, LyondellBasell Industries Holdings B.V., INEOS Olefins & Polymers USA, LLC, Westlake Corporation are some of the key players of Global Plastic Calendaring Resins Market.
|
Attribute |
Details |
|
Base Year |
2022 |
|
Historic Data |
2018 –
2021 |
|
Estimated
Year |
2023 |
|
Forecast Period |
2024
– 2028 |
|
Quantitative
Units |
Revenue
in USD Million, Volume in Units, and CAGR for 2018-2022 and 2023-2028 |
|
Report
coverage |
Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends |
|
Segments
covered |
Type End
Use |
|
Regional
scope |
North
America, Europe, Asia Pacific, South America, Middle East & Africa |
|
Country scope |
United
States, Mexico, Canada, France, Germany, United Kingdom, Spain, Italy, China,
India, South Korea, Japan, Thailand, Brazil, Argentina, South Africa, Saudi
Arabia, UAE |
|
Key companies
profiled |
Formosa
Plastics Corporation, Eastman Chemical Co, Saudi Basic Industries
Corporation, Indorama Ventures Public Company Limited, LOTTE Chemical
Corporation, LG Chem Ltd., Reliance Industries Limited, LyondellBasell Industries
Holdings B.V., INEOS Olefins & Polymers USA, LLC, Westlake Corporation |
|
Customization
scope |
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
Pricing and
purchase options |
Avail
customized purchase options to meet your exact research needs. Explore purchase options |
|
Delivery Format |
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/Word
format on special request) |
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