The global packaging resins market is set to gain traction from the ongoing development of unique packaging methods and materials. Bioplastic is nowadays used in the plastic packaging sector. It is produced from sustainable sources, such as agricultural byproducts, corn starch, woodchips, and vegetable oils.
Report Aim & Scope:
- An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
- The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
- The various parameters accelerating the growth of the market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the market during the forecast period.
Regional Insights-
Geographically, Asia Pacific procured USD 91.26 billion in terms of revenue in 2020. It is set to retain its leading position in the near future because of the increasing population in developing nations, such as Bangladesh, India, and China. It is expected to drive the demand for packaging type of resins in this region. In North America, on the other hand, the rapid industrialization would aid growth. Europe is anticipated to grow considerably on account of the expansion of the packaging sector.
Competitive Landscape-
The global market contains a large number of companies that are majorly focusing on introducing novel packaging resins to enhance their portfolios. A few others are unveiling their in-house and upcoming products in reputed exhibitions to attract more customers. Below are the two industry developments:
- September 2020: ExxonMobil launched an affordable and easily processed sustainable solution named Achieve™ Advanced PP6302E1. It is meant for high volume applications, such as automotive parts, food & beverages packaging, building products, and industrial packaging.
- March 2020: BASF showcased a wide range of adhesives, plastics, additives, packaging resins, and dispersions for barrier coatings and printing inks at interpack 2020. These solutions would focus on the life cycle of packaging products.
A list of renowned vendors of packaging resins operating in the global market:
- China Petroleum & Chemical Corporation ( Beijing, China)
- Exxon Mobil Corporation (Texas, US)
- BASF SE ( Ludwigshafen, Germany)
- LyondellBasell Industries Holdings B.V. (Rotterdam, Netherlands)
- SABIC (Riyadh, Saudi Arabia)
- PetroChina Companies Ltd. (Beijing, China)
- Dow Chemical Company (Michigan, U.S.)
- Indorama Ventures Public Company Limited (Bangkok, Thailand)
- Reliance Industries (Mumbai, India)
- Other Key Players
