Plastic Calendaring Resins Market to be Dominated by Food & Beverage Sector through 2028
Rising demand from the healthcare & medical sector
is expected to drive the Plastic Calendaring Resins market in the forecast
period 2024-2028
According to TechSci Research report, “Plastic Calendaring
Resins Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028”, Global Plastic Calendaring Resins market is
anticipated to upsurge at an impressive rate in the forecast period 2024-2028. A
significant factor fueling the growth of the Global Plastic Calendaring Resins Market
is due to increasing demand for food packaging as it is easy to store, improves
shelf life, and can be re-sealed. Plastic calendaring resins have enormous
properties such as durability, flexibility, toughness, and abrasion resistance due
to which the demand for various types of plastic calendaring resins increases. In
addition, it helps in providing non-contaminated packaging alternative and hygienic
packaging in healthcare & medical sector along with this resin is converted
into several forms, including stock shapes for machining, injection molded and
machined components and calendared film which further fuel the growth of Global
Plastic Calendaring Resins market.
For instance, a
bio-attributed PVC calendaring resins that may be utilized in healthcare and
medical applications was introduced by Vynova Group in 2020.
Furthermore, the market is being further
stimulated by growing demand from cosmetic & personal care and automotive
sectors.
However, easy availability
of various alternatives can slow down the market growth. Also, stringent government
regulations can further slowdown the market growth.
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Global Plastic Calendaring Resins Market
is segmented based on type, end use, and region.
Based on type, the market is categorized
into polyvinyl chloride (PVC), polyethylene terephthalate (PET), polypropylene
(PP), and others. Polyethylene Terephthalate (PET) segment is expected to hold
the largest market share in the forecast period, 2024-2028. This is due to its unique
properties such as flexibility, heat and impact resistance, and recyclability.
Based
on end use, the market is fragmented into food & beverages, healthcare &
medical, automotive, and others.
Food & Beverages segment is expected to hold the largest market share in
the forecast period, 2024-2028. This is due to increasing demand for
convenience food with safety and sustainability.
Major companies operating in the global Plastic
Calendaring Resins market are:
- 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
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“North America region is
expected to grow at the highest rate during the forecast period due to the
existence of significant market players, the accessibility of raw materials,
and the widespread use of advanced technology. Additionally, growing use in furniture
production and automotive parts manufacturing is expected to create lucrative
opportunities for the market growth. Furthermore, in Asia Pacific, increasing
demand across different applications such as building & construction, food
& beverage packaging as well as paint & coatings sectors creating huge
prospects of market growth during the forecast period,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“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, has evaluated the future
growth potential of Global Plastic Calendaring Resins Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision-makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global Plastic Calendaring Resins Market.”
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