The Packaging Resins Market is expected to grow at > 7.5% during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Packaging Resins Market
Packaging Resins Market is likely to witness an impressive CAGR of 7.5% during the forecast period. Packaging resins find application and have high demands in various sectors such as food & beverage, healthcare, consumer goods, industrial, and others. Their high demand is due to the changing preferences of consumers for products with plastic packaging, influencing the transformation of packaging industry.
Asia-Pacific is expected to be the largest as well as the fastest-growing market for packaging resins owing to the increasing demand from FMCG and the food & beverage industries in the region during the forecast period. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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Market Scope & Market Segmentation
Packaging Resins Market Share: By Type
Based on the type, the market is segmented as low density polyethylene, propylene, high density polyethylene, polyethylene terephthalate, polystyrene & expanded polystyrene, polyvinyl chloride, and others. Low density polyethylene offers excellent features, such as moisture barrier, flexibility, toughness, and resistance from chemical due to which, it is estimated to be the largest segment of the market during the forecast period.
Packaging Resins Market Share: By Application Type
Based on the application type, the market is segmented as food & beverage, consumer goods, healthcare, industrial, and others. Packaging resin increases the shelf life of products by protecting them for a longer period of time due to which it is broadly used in the food & beverage sector. This is one of the major factors fueling the demand for packaging resins in the food & beverage sector during the forecast period.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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