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Packaging Resins Market Worth USD 410.77 Billion by 2028 Growing at 7.50% CAGR | Reports And Data

Reports And Data

Reports And Data

The increase in the end-use industry in the emerging nations and growth in alternate lifestyles are propelling the market for packaging resins.

NEW YORK, NEW YORK, UNITED STATES, January 19, 2022 /EINPresswire.com/ -- A new report titled global Packaging Resins Market research report published by Reports and Data offers accurate estimations of the growth rate and market size over the forecast period. The global packaging resins market is forecast to reach USD 410.77 Billion by 2028, according to a new report by Reports and Data. A surge in demand for bioplastics is a significant trend in the global packaging resins market. They are biodegradable products that are derived from renewable and natural sources such as vegetable oil, potatoes, tapioca, pea starch, rice, sugar cane, cornstarch, grains, wheat, and cellulose from wood. Bioplastics are preferred over conventional plastics due to their eco-friendly nature.

The food and beverage sector is fueling the demand for packaging resins market along with consumer goods. The lucrative opportunity provided by the healthcare industry is also boosting market demand. Increasing applications of the healthcare industry are also fueling the packaging resins market. Furthermore, various properties of packaging resins, such as their resistance to continuously changing weather conditions are another factor that will propel the market.

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Market Overview:

The materials and chemical industry have long been at the forefront of innovation. It has aided in the exploration of new parts of nature by the scientific community as well as individuals. Everything is made up of chemicals, from medical supplies to paints to perfumes. The materials and chemicals business is in charge of both new chemical discovery and substance exploration. From discovering novel compounds to generating new chemical combinations, the materials and chemicals business has always taken a forward-thinking attitude.

Polymers, dyes, lubricants, surfactants, resins, petrochemicals, bleaches, paints, plastics, soap, detergent, and acids are just a few of the chemicals and chemical products found in this industry. To improve the product's overall efficacy, magnetic, optical, structural, and catalytic qualities are all adjusted. Leading materials and chemicals sector players have challenged the status quo and created amazing inventions that have changed the course of history. Advances in the materials and chemicals industries may pave the way for other industries to grasp new forms of matter. It lays a firm foundation for the progress of society as a whole in this way.

Key participants include Sinopec Corporation, SABIC, Petrochina Ltd., Borealis AG, Dowdupont Inc., M&G Chemicals, Indorama Ventures Public Company Ltd., Braskem S.A., Far Eastern New Century Corporation, and Jiangsu Sanfangxiang Group Co., Ltd, among others.

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Further key findings from the report suggest

Adhesive Resins held a market share of 37.2% in the year 2018. This type of resin shows high resistance to light and weathering meanwhile swelling very little in water. It also offers reduced flexibility and high saponification resistance. Adhesive resin is also used to enhance retention of both compomers and composites to tooth structure which helps in preventing bacterial microleakage.

Food and Beverage are forecasted to hold a market share of 27.3% in the year 2026. Plastic packaging of food and beverage products lowers the possibility of product contamination and also helps protect products from moisture, light, gas, and temperature.

Low-density polyethylene (LDPE) is one of the products of packaging resins that dominates the market with a 21.9% market share in the year 2018. The polymer is formed by a wide variety of thermoplastic processing methods and is used in cost-effective and moisture-resistant applications. High thermal expansion, poor weathering resistance, and the flammable nature of the packaging resins market are limiting the product’s growth.

North America held a market share of 22.6% in the year 2018. The Discovery of Shale Gas in the U.S. has pushed down the price of natural gas and has also increased the availability of Natural-gas Liquids (NGLs), including ethane. This is reshaping the country’s petrochemical competitiveness and ultimately, the competitiveness of plastic resins in the global platform.

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For the purpose of this report, Reports and Data have been segmented into the global Packaging Resins market on the basis of type, product, application, and region:

Type Outlook

Adhesive Resins
Barrier Resins
Modifier Resins

Application Outlook
Food and Beverage
Healthcare
Consumer Goods
Industrial
Others

Regional Outlook

North America
Europe
Asia Pacific
MEA
Latin America

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market.

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