The global plastic calendering resins market is anticipated to hold a market value of US$ 23.6 Billion in 2023, and eventually US$ 42.26 Billion by 2033. The projected growth rate is nearly 6% during the forecast period from 2023 to 2033.
The market is anticipated to be driven by increased demand for food & beverages and healthcare packaging. Moreover, the government's strict standards and policies to reduce single-use plastic waste, increased biodegradable plastics, and focus on a sustainable future have resulted in the widespread use of and demand for bio-plastic calendering resins.
Rising awareness regarding various characteristics of plastic calendering resins such as durability, flexibility, toughness, and abrasion resistance is expected to boost the demand for various types of plastic calendering resins.
| Report Attributes | Details |
|---|---|
| Estimated Market Value in 2023 | US$ 23.6 Billion |
| Estimated Market Value in 2033 | US$ 42.26 Billion |
| Projected CAGR from 2023 to 2033 | 6% |
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The global Plastic Calendering Resins market garnered US$ 22.26 Billion in 2022, expanding at a historical CAGR of 4%. The COVID-19 pandemic had a negative impact on the market for plastic calendering resins. The pandemic led to the sealing of national borders and the temporary shutdown of industries and markets in 2020. There was a huge spike in the demand from the medical industry, which turned out to be positive for this industry.
The disruption in global supply chains negatively impacted the sales of other plastic products, transportation, and supply of raw materials, which led to a drop in sales of construction and automotive products, thereby leading to a reduction of plastic calendering resins demand from these sectors. However, plastic calendering resins witnessed a recovery in demand in 2022, and the market is expected to witness significant growth over the forecast period. The estimation reveals that the industry is projected to secure a market value of US$ 42.26 Billion by 2033.
Growing Technological Advancements and Financial Investments to Aid Market Growth
The ongoing Research and Development and technological developments in the field of plastic calendering resins and the widespread adoption of and need for calendered resins across various sectors are expected to drive the market in the coming future. Moreover, there is an increasing need for lightweight, durable, flexible, high abrasion resistance, and easily recyclable material, which is one of the major factors driving the demand for plastic calendering resins.
The fluctuating crude oil prices also have an impact on the plastic calendering resins industry. The cost of plastic calendering resin manufacturing is high because of the process involved in converting crude oil into plastic resins with the help of additives. Furthermore, rising awareness regarding sustainable living has forced manufacturers to develop recycled plastic resins and focus on Research and Development activities.
In November 2021, SK Chemicals began mass production of its first chemical recycling copolyester, named ECOTRIA CR, with the help of plastic waste recycling technology. The new technology is expected to help the company to be ahead of its competitors and capture market share.
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Regulations Pertaining to Plastic Usage to Hinder Market Growth
The volatile raw material prices and easy availability of various packaging materials used in the packaging sector are expected to act as major restraining factors towards the growth of the market. In addition to this, strict regulatory policies pertaining to plastic usage and the pressure of cutting prices can challenge market growth over the forecast period.
Presence of Key Players in the Region to Increase Consumer Demand
North America is expected to grow over the forecast period owing to the use of plastic in End-uses and plastic waste generation in the region. Factors such as the presence of major market players, the availability of raw materials, and the high adoption of advanced technologies are the key factors driving the market in the region.
Increasing Investments to Develop Packaging to Boost Regional Market
Asia Pacific accounted for the largest revenue share of over 30.0% in 2022 and is anticipated to expand at the highest CAGR over the forecast period. The region is expected to dominate the packaging segment in the coming years. The packaging industry’s growth is primarily driven by the food & beverage segment due to the rising population in the country, significant disposable incomes, and changes in food habits.
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Food & Beverage Segment to Dominate the Category
The food & beverages segment accounted for the largest share of over 30.0% in 2022 and is expected to retain its position in the market over the forecast period. This can be attributed to the usage of calendering resins in food packaging as it improves shelf life, is easy to store, and can be re-sealed. Flexible packaging is a better packaging alternative to traditional packaging, which, in turn, will boost the demand in the food industry.
The healthcare segment is expected to expand at a CAGR of 4.3% over the forecast period. The use of plastic calendering resins in manufacturing medical products and their packaging is growing owing to the recent Covid-19 outbreak in 2020. It helps in providing hygienic and non-contaminated packaging alternatives. In 2020, Vynova Group launched a bio-attributed PVC calendering resin, which can be used in healthcare and medical End-uses.
PVC Resins Segment Leads the Type Segment and is Projected to Dominate the Market
The PVC resins segment accounted for the largest share of over 55.0% in 2022 and is expected to retain its dominance over the forecast period. This can be attributed to the increasing demand for and use of PVC resin across various industries, especially the food & beverage industry. In addition, healthcare packaging and medical products require calendered plastic, which will further drive the segment.
The PET resin segment is expected to expand at a CAGR of 3.8% over the forecast period. This can be attributed to unique properties such as flexibility, heat and impact resistance, and recyclability. The food and cosmetic industries are the biggest consumers of PET resin products owing to their heat resistance and toughness. The products made from PET are excellent for cosmetic packaging, food trays, and rigid food packaging.
Some of the start-ups in the market include-
The players in the market are focusing to increase their global influence and adopt strategies such as; acquisition, collaboration, and partnerships. Key players in the market include Formosa Plastics Corporation; Westlake Corporation; Occidental Petroleum Corporation; Eastman Chemical Company; Avery Dennison Corporation; Covestro AG; China Petrochemical Corporation; Shin-Etsu Chemical Co., Ltd.; Reliance Industries Limited; SK Chemicals; LG Chem; LOTTE Chemical Corporation; SABIC; and Indorama Ventures Public Company Limited; Orbia. Some of the recent key developments among key players are:
| Report Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data | 2018 to 2022 |
| Key Regions Covered |
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| Key Countries Covered |
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| Key Segments Covered |
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| Key Players |
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| Pricing | Available upon Request |
North America will account for a major share of global plastic calendering resin demand.
From 2023 to 2033, the market is projected to expand at a 6% value CAGR, as per FMI.
By 2033, plastic calendering resins market demand is expected to reach US$ 42.26 Billion
By 2023, demand for plastic calendering resins is forecast to be valued at US$ 23.6 Billion
As of 2022, the market for plastic calendering resins was valued at US$ 22.26 Billion
1. Executive Summary | Plastic Calendering Resins Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyers 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Type, 2023 to 2033 5.3.1. Polyvinyl Chloride - PVC 5.3.2. Polyethylene Terephthalate - PET 5.3.3. Polypropylene - PP 5.3.4. Polyethylene Terephthalate Glycol - PETG 5.3.5. Others 5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By End-use, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By End-use, 2023 to 2033 6.3.1. Food & Beverages 6.3.2. Automotive 6.3.3. Healthcare & Medical 6.3.4. Electrical & Electronics 6.3.5. Construction & Buildings 6.3.6. Furniture & Furniture Trim 6.3.7. Others 6.4. Y-o-Y Growth Trend Analysis By End-use, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By End-use, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. Asia Pacific 7.3.5. Middle East and Africa(MEA) 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Type 8.2.3. By End-use 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Type 8.3.3. By End-use 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Type 9.2.3. By End-use 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Type 9.3.3. By End-use 9.4. Key Takeaways 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. United Kingdom 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Europe 10.2.2. By Type 10.2.3. By End-use 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type 10.3.3. By End-use 10.4. Key Takeaways 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.1.4. Singapore 11.2.1.5. Thailand 11.2.1.6. Indonesia 11.2.1.7. Australia 11.2.1.8. New Zealand 11.2.1.9. Rest of Asia Pacific 11.2.2. By Type 11.2.3. By End-use 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type 11.3.3. By End-use 11.4. Key Takeaways 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. GCC Countries 12.2.1.2. South Africa 12.2.1.3. Israel 12.2.1.4. Rest of Middle East and Africa(MEA) 12.2.2. By Type 12.2.3. By End-use 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type 12.3.3. By End-use 12.4. Key Takeaways 13. Key Countries Market Analysis 13.1. USA 13.1.1. Pricing Analysis 13.1.2. Market Share Analysis, 2022 13.1.2.1. By Type 13.1.2.2. By End-use 13.2. Canada 13.2.1. Pricing Analysis 13.2.2. Market Share Analysis, 2022 13.2.2.1. By Type 13.2.2.2. By End-use 13.3. Brazil 13.3.1. Pricing Analysis 13.3.2. Market Share Analysis, 2022 13.3.2.1. By Type 13.3.2.2. By End-use 13.4. Mexico 13.4.1. Pricing Analysis 13.4.2. Market Share Analysis, 2022 13.4.2.1. By Type 13.4.2.2. By End-use 13.5. Germany 13.5.1. Pricing Analysis 13.5.2. Market Share Analysis, 2022 13.5.2.1. By Type 13.5.2.2. By End-use 13.6. United Kingdom 13.6.1. Pricing Analysis 13.6.2. Market Share Analysis, 2022 13.6.2.1. By Type 13.6.2.2. By End-use 13.7. France 13.7.1. Pricing Analysis 13.7.2. Market Share Analysis, 2022 13.7.2.1. By Type 13.7.2.2. By End-use 13.8. Spain 13.8.1. Pricing Analysis 13.8.2. Market Share Analysis, 2022 13.8.2.1. By Type 13.8.2.2. By End-use 13.9. Italy 13.9.1. Pricing Analysis 13.9.2. Market Share Analysis, 2022 13.9.2.1. By Type 13.9.2.2. By End-use 13.10. China 13.10.1. Pricing Analysis 13.10.2. Market Share Analysis, 2022 13.10.2.1. By Type 13.10.2.2. By End-use 13.11. Japan 13.11.1. Pricing Analysis 13.11.2. Market Share Analysis, 2022 13.11.2.1. By Type 13.11.2.2. By End-use 13.12. South Korea 13.12.1. Pricing Analysis 13.12.2. Market Share Analysis, 2022 13.12.2.1. By Type 13.12.2.2. By End-use 13.13. Singapore 13.13.1. Pricing Analysis 13.13.2. Market Share Analysis, 2022 13.13.2.1. By Type 13.13.2.2. By End-use 13.14. Thailand 13.14.1. Pricing Analysis 13.14.2. Market Share Analysis, 2022 13.14.2.1. By Type 13.14.2.2. By End-use 13.15. Indonesia 13.15.1. Pricing Analysis 13.15.2. Market Share Analysis, 2022 13.15.2.1. By Type 13.15.2.2. By End-use 13.16. Australia 13.16.1. Pricing Analysis 13.16.2. Market Share Analysis, 2022 13.16.2.1. By Type 13.16.2.2. By End-use 13.17. New Zealand 13.17.1. Pricing Analysis 13.17.2. Market Share Analysis, 2022 13.17.2.1. By Type 13.17.2.2. By End-use 13.18. GCC Countries 13.18.1. Pricing Analysis 13.18.2. Market Share Analysis, 2022 13.18.2.1. By Type 13.18.2.2. By End-use 13.19. South Africa 13.19.1. Pricing Analysis 13.19.2. Market Share Analysis, 2022 13.19.2.1. By Type 13.19.2.2. By End-use 13.20. Israel 13.20.1. Pricing Analysis 13.20.2. Market Share Analysis, 2022 13.20.2.1. By Type 13.20.2.2. By End-use 14. Market Structure Analysis 14.1. Competition Dashboard 14.2. Competition Benchmarking 14.3. Market Share Analysis of Top Players 14.3.1. By Regional 14.3.2. By Type 14.3.3. By End-use 15. Competition Analysis 15.1. Competition Deep Dive 15.1.1. Formosa Plastics Corporation 15.1.1.1. Overview 15.1.1.2. Product Portfolio 15.1.1.3. Profitability by Market Segments 15.1.1.4. Sales Footprint 15.1.1.5. Strategy Overview 15.1.1.5.1. Marketing Strategy 15.1.1.5.2. Product Strategy 15.1.1.5.3. Channel Strategy 15.1.2. Westlake Corporation 15.1.2.1. Overview 15.1.2.2. Product Portfolio 15.1.2.3. Profitability by Market Segments 15.1.2.4. Sales Footprint 15.1.2.5. Strategy Overview 15.1.2.5.1. Marketing Strategy 15.1.2.5.2. Product Strategy 15.1.2.5.3. Channel Strategy 15.1.3. Eastman Chemical Company 15.1.3.1. Overview 15.1.3.2. Product Portfolio 15.1.3.3. Profitability by Market Segments 15.1.3.4. Sales Footprint 15.1.3.5. Strategy Overview 15.1.3.5.1. Marketing Strategy 15.1.3.5.2. Product Strategy 15.1.3.5.3. Channel Strategy 15.1.4. Occidental Petroleum Corporation 15.1.4.1. Overview 15.1.4.2. Product Portfolio 15.1.4.3. Profitability by Market Segments 15.1.4.4. Sales Footprint 15.1.4.5. Strategy Overview 15.1.4.5.1. Marketing Strategy 15.1.4.5.2. Product Strategy 15.1.4.5.3. Channel Strategy 15.1.5. Shin-Etsu Chemical Co., Ltd. 15.1.5.1. Overview 15.1.5.2. Product Portfolio 15.1.5.3. Profitability by Market Segments 15.1.5.4. Sales Footprint 15.1.5.5. Strategy Overview 15.1.5.5.1. Marketing Strategy 15.1.5.5.2. Product Strategy 15.1.5.5.3. Channel Strategy 15.1.6. Avery Dennison Corporation 15.1.6.1. Overview 15.1.6.2. Product Portfolio 15.1.6.3. Profitability by Market Segments 15.1.6.4. Sales Footprint 15.1.6.5. Strategy Overview 15.1.6.5.1. Marketing Strategy 15.1.6.5.2. Product Strategy 15.1.6.5.3. Channel Strategy 15.1.7. Covestro AG 15.1.7.1. Overview 15.1.7.2. Product Portfolio 15.1.7.3. Profitability by Market Segments 15.1.7.4. Sales Footprint 15.1.7.5. Strategy Overview 15.1.7.5.1. Marketing Strategy 15.1.7.5.2. Product Strategy 15.1.7.5.3. Channel Strategy 15.1.8. Reliance Industries Limited 15.1.8.1. Overview 15.1.8.2. Product Portfolio 15.1.8.3. Profitability by Market Segments 15.1.8.4. Sales Footprint 15.1.8.5. Strategy Overview 15.1.8.5.1. Marketing Strategy 15.1.8.5.2. Product Strategy 15.1.8.5.3. Channel Strategy 15.1.9. LG Chem 15.1.9.1. Overview 15.1.9.2. Product Portfolio 15.1.9.3. Profitability by Market Segments 15.1.9.4. Sales Footprint 15.1.9.5. Strategy Overview 15.1.9.5.1. Marketing Strategy 15.1.9.5.2. Product Strategy 15.1.9.5.3. Channel Strategy 15.1.10. China Petrochemical Corporation 15.1.10.1. Overview 15.1.10.2. Product Portfolio 15.1.10.3. Profitability by Market Segments 15.1.10.4. Sales Footprint 15.1.10.5. Strategy Overview 15.1.10.5.1. Marketing Strategy 15.1.10.5.2. Product Strategy 15.1.10.5.3. Channel Strategy 15.1.11. SK chemicals 15.1.11.1. Overview 15.1.11.2. Product Portfolio 15.1.11.3. Profitability by Market Segments 15.1.11.4. Sales Footprint 15.1.11.5. Strategy Overview 15.1.11.5.1. Marketing Strategy 15.1.11.5.2. Product Strategy 15.1.11.5.3. Channel Strategy 15.1.12. LOTTE Chemical Corporation 15.1.12.1. Overview 15.1.12.2. Product Portfolio 15.1.12.3. Profitability by Market Segments 15.1.12.4. Sales Footprint 15.1.12.5. Strategy Overview 15.1.12.5.1. Marketing Strategy 15.1.12.5.2. Product Strategy 15.1.12.5.3. Channel Strategy 15.1.13. Indorama Ventures Public Company Limited 15.1.13.1. Overview 15.1.13.2. Product Portfolio 15.1.13.3. Profitability by Market Segments 15.1.13.4. Sales Footprint 15.1.13.5. Strategy Overview 15.1.13.5.1. Marketing Strategy 15.1.13.5.2. Product Strategy 15.1.13.5.3. Channel Strategy 15.1.14. SABIC 15.1.14.1. Overview 15.1.14.2. Product Portfolio 15.1.14.3. Profitability by Market Segments 15.1.14.4. Sales Footprint 15.1.14.5. Strategy Overview 15.1.14.5.1. Marketing Strategy 15.1.14.5.2. Product Strategy 15.1.14.5.3. Channel Strategy 15.1.15. Orbia 15.1.15.1. Overview 15.1.15.2. Product Portfolio 15.1.15.3. Profitability by Market Segments 15.1.15.4. Sales Footprint 15.1.15.5. Strategy Overview 15.1.15.5.1. Marketing Strategy 15.1.15.5.2. Product Strategy 15.1.15.5.3. Channel Strategy 16. Assumptions & Acronyms Used 17. Research Methodology
Chemicals & Materials
October 2022
REP-GB-154
250 pages
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Plastic Calendering Resins Market
