Plastic Calendaring Resins Market

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.

New York, July 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Plastic Calendaring Resins Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028" - https://www.reportlinker.com/p06480243/?utm_source=GNW Plastic Calendaring Resins market is anticipated to expand significantly through 2028 due to the growing demand from the food & beverage sector. In 2021, the annual sales of retail food and beverage in the United States were around USD 880 billion.With government’s strict rules and policies to decrease single-use plastic waste, boost biodegradable plastics, and emphasize a sustainable future result in the extensive use and demand for bio-plastic calendaring resins increases.A growing understanding of various properties of these resins, including durability, toughness, flexibility, and abrasion resistance, increases the demand for plastic calendaring resins.Rising demand from end-use industries, including food & beverage, healthcare & medical, and cosmetic & personal care, are anticipated to drive the global Plastic Calendaring Resins Market in the projected period.High Demand for Flexible PackagingFlexible packaging is a technique for enclosing goods in non-rigid materials, allowing for more affordable and adaptable solutions.Food and beverage, personal care, and medical sectors employ flexible packaging.Consumers are drawn to packaging that offers ease, product safety, and longer shelf life. According to research by the Flexible Packaging Association, more than 60% of consumers preferred flexible packaging as it is easier to store, reseal, and open and has a longer shelf life.For instance, according to the Flexible Packaging Association, approximately 2/3 of all packaging is for food & beverages, and about 90% of flexible packaging is used for these products.Therefore, increasing demand for flexible packaging anticipated market growth in the upcoming years.Increasing Demand from Food & Beverage SectorDue 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.For Instance, FSSAI 2022 released a direction regarding the Operationalization of Draft Food Safety and Standards (Packaging) Amendment Regulations, 2022, regarding using recycled plastic as food contact materials with immediate effect.Thus, 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 TypePolyethylene 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.Recent Developments• In December 2022, SABIC collaborates with Scientex to develop the world’s first flexible food packaging made based on advanced recycled OBP, using SABIC-certified circular polypropylene (PP).• Cosmo Films set up a CPP film production line in Aurangabad at an investment of USD 18 million for expanding film production for packaging applications in April 2022.• In December 2021, SABIC introduced LNP ELCRIN IQ, a new chemically upcycled polybutylene terephthalate (PBT) calendaring resin made from PET bottle debris that was dumped into the ocean to reduce ocean pollution.• The cooperation between NEOS Olefins & Polymers and Saica Natur in a supply arrangement for recycled LDPE and LLDPE was announced in September 2020.Market SegmentationGlobal Plastic Calendaring Resins Market is segmented based on type, end-use, and region.Based on the type, the market is fragmented into polyvinyl chloride (PVC), polyethylene terephthalate (PET), polypropylene (PP), and others.Based on the end use, the market is segmented into food & beverages, healthcare & medical, automotive, and others. Based on region, the market is divided into North America, Europe, Asia Pacific, South America, Middle East & Africa.Market PlayersFormosa 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 are some of the key players of Global Plastic Calendaring Resins Market.Report Scope:In this report, Global Plastic Calendaring Resins market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:• Plastic Calendaring Resins Market, By Type:o Polyvinyl Chloride (PVC)o Polyethylene Terephthalate (PET)o Polypropylene (PP)o Others• Plastic Calendaring Resins Market, By End Use:o Food & Beverageso Healthcare & Medicalo Automotiveo Others• Plastic Calendaring Resins Market, By Region:o North America United States Mexico Canadao Europe France Germany United Kingdom Spain Italyo Asia-Pacific China India South Korea Japan Thailando South America Brazil Argentinao Middle East & Africa South Africa Saudi Arabia UAECompetitive landscapeCompany Profiles: Detailed analysis of the major companies present in Global Plastic Calendaring Resins market.Available Customizations:With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:Company Information• Detailed analysis and profiling of additional market players (up to five).Read the full report: https://www.reportlinker.com/p06480243/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________