Global Plastic Calendaring Resins Industry Research Report 2023 - Bio-Plastic Calendaring Resins Witnessing Surge Amidst Global Push for Sustainability

DUBLIN, Aug. 14, 2023 /PRNewswire/ -- The "Plastic Calendaring Resins Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type, By End Use, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.

The Plastic Calendaring Resins market is poised for significant expansion in the coming years, primarily driven by the growing demand from the food & beverage sector.

As governments worldwide implement strict rules and policies to reduce single-use plastic waste and promote the adoption of biodegradable plastics, the demand for bio-plastic calendaring resins is witnessing a substantial upsurge. These resins are gaining popularity due to their desirable properties, such as durability, toughness, flexibility, and abrasion resistance, further boosting their demand in various industries.

Anticipated to drive the global market are the rising demands from end-use sectors like food & beverage, healthcare & medical, and cosmetic & personal care. With a growing understanding of the benefits of these resins, the Plastic Calendaring Resins market is set to experience significant growth in the projected period.

High Demand for Flexible Packaging

Flexible packaging has emerged as a popular and versatile solution for packaging goods in various industries, including food and beverage, personal care, and medical sectors. With its non-rigid materials, flexible packaging offers cost-effective and adaptable packaging options that meet the demands of modern consumers.

Consumers are increasingly drawn to packaging that provides ease of use, product safety, and longer shelf life. Research conducted by the Flexible Packaging Association revealed that more than 60% of consumers prefer flexible packaging due to its convenience in storage, resealing, and opening, as well as its ability to extend the shelf life of products.

In fact, approximately two-thirds of all packaging is utilized for food and beverages, with flexible packaging accounting for about 90% of packaging in these sectors. As a result, the escalating demand for flexible packaging is expected to drive significant market growth in the years to come.

Increasing Demand from Food & Beverage Sector

Due to consumers busy schedules and changing consumer preferences, convenience food is getting more and more popular. The variety of readily available food substitutes has expanded because of 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 goods companies are shifting toward the use of PVC, PET, and PETG packaging films for food products.

These packaging films have a 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 materials.

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 has special characteristics, including flexibility, recyclable nature, and heat and impact resistance. Due to its heat resistance and durability, PET resin is mostly used in the cosmetic and food sectors. The items created from PET are great for hard food packaging, meal trays, and cosmetic packaging.

Moreover, PETG calendaring resin has both the properties of polyethylene terephthalate and glycols. It has a low thermal expansion coefficient along with a good stiffness-to-weight ratio making it an excellent material for various applications like automotive parts, consumer goods packaging, etc.

Therefore, increasing demand for calendaring resins will accelerate the growth of the Global Plastic Calendaring Resins Market in the upcoming years.

Market Dynamics

Drivers

• Rising demand from Food & Beverage Industry
• Growing demand from Healthcare & Medical Sector
• Increasing demand for Flexible Packaging

Market Trends & Developments

• Product Launches
• Merger's & Acquisitions
• Technological Advancements

Challenges

• Easy availability of various alternatives
• Stringent Government regulations

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in Global Plastic Calendaring Resins market.

• 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

Report Scope:

Plastic Calendaring Resins Market, By Type:

• Polyvinyl Chloride (PVC)
• Polyethylene Terephthalate (PET)
• Polypropylene (PP)
• Others

Plastic Calendaring Resins Market, By End Use:

• Food & Beverages
• Healthcare & Medical
• Automotive
• Others

Plastic Calendaring Resins Market, By Region:

• North America
• United States
• Mexico
• Canada
• Europe
• France
• Germany
• United Kingdom
• Spain
• Italy
• Asia-Pacific
• China
• India
• South Korea
• Japan
• Thailand
• South America
• Brazil
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

For more information about this report visit https://www.researchandmarkets.com/r/yuu1tq

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