Lucintel Forecasts Packaging Resin Market To Grow At A Cagr Of 7%-9%

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According to the recent study the packaging resin market is projected to grow at a CAGR of 7%-9% from 2020 to 2025. Growth in this market is primarily driven by increasing demand for longer shelf life of products and growing awareness of protecting food products from perishing easily.
Browse XX figures / charts and XX tables in this 150-page report to understand trends, opportunities and forecast in packaging resin market by type (LDPE (low density polyethylene), PP (polypropylene), HDPE (high density polyethylene), PET (polyethylene terephthalate), PS (polystyrene), and PVC (polyvinyl chloride)), application (food & beverage, consumer goods, healthcare, and industrial), and region (North America, Europe, Asia Pacific, and Rest of the World).
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“LDPE (Low Density Polyethylene) market is expected to remain the largest segment during the forecast period.”
Based on type, the packaging resin market is segmented into LDPE (low density polyethylene), PP (polypropylene), ...
... HDPE (high density polyethylene), PET (polyethylene terephthalate), PS (polystyrene), and PVC (polyvinyl chloride). Lucintel forecasts that the LDPE (low density polyethylene) market is expected to remain the largest segment during the forecast period as it has flexibility, moisture barrier, toughness, chemical resistance, availability of LDPE resins at cheap rates, and it is used for a wide range of industries.
“Within the packaging resin market, the bakery and confectionary segment is expected to remain the largest application.”
Based on application, the food & beverages segment is expected to witness the largest segment over the forecast period due to rising demand for increased shelf life of products, thus protecting food products for longer periods.
“North America will dominate the packaging resin market in near future.”
North America is expected to be the largest region over the forecast period and it is also expected to witness the highest growth over the forecast period due to the growing demand from the FMCG (fast-moving consumer goods) and food & beverage industries in the region.
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Major players of packaging resin market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. ExxonMobil, Sinopec, LyondellBasell Industries Holdings, SABIC, PetroChina, and DowDupont are among the major packaging resin providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/packaging-resin-market.aspx or helpdesk@lucintel.com
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Lucintel
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