The global plastic calendering resins market has witnessed significant growth in recent years due to the increasing demand for lightweight, durable, and cost-effective materials in various industries. Plastic calendering resins are widely used in applications such as automotive, construction, packaging, and healthcare, among others.
The global Plastic Calendering Resins Market is anticipated to hold a market value of US$ 23.6 Billion in 2023 and US$ 42.26 Billion by 2033. The projected growth rate is nearly 6% during the forecast period from 2023 to 2033.
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.
The PET resin segment is expected to expand at the fastest CAGR of 3.8% over the forecast period owing to its unique properties such as recyclability, lightweight, water resistance, and shatterproof. Therefore, it is widely used in the packaging of food & beverages
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The plastic calendering resins market refers to the production and utilization of polyvinyl chloride (PVC) and other thermoplastic materials through the calendering process. Calendering involves the extrusion of plastic resins through multiple rollers to create a continuous sheet or film. These sheets or films possess excellent mechanical, chemical, and thermal properties, making them suitable for various applications.
Key Takeaways from the Market Study
- The food & beverages segment accounted for the largest share of over 30.0% in 2022.
- The healthcare segment is expected to expand at a CAGR of 4.3% over the forecast period.
- The PVC resins segment accounted for the largest share of over 55.0% in 2022.
- The healthcare end-use segment is expected to expand at a CAGR of 4.3% over the forecast period.
- Asia Pacific accounted for the largest revenue share of over 30.0% in 2022
“The ongoing R&D 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,” says an analyst at Future Market Insights.
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Key Market Players
Major players are channelling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market.
Key players in the Plastic Calendering Resins market are 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; and Orbia.
Some of the recent key developments among key players are:
- In December 2021, SABIC launched a new chemically upcycled polybutylene terephthalate (PBT) resin produced from ocean-bound polyethylene terephthalate (PET) bottle waste to reduce ocean pollution. The new calendering resin is named LNP ELCRIN IQ.
- In October 2020, LyondellBasell and Sasol announced that they entered a definitive agreement to form a 50/50 joint venture, through which LyondellBasell is likely to acquire 50% of Sasol’s 1.5 MM ton ethane cracker, 0.9 MM ton low and linear low-density polyethylene plants, and associated infrastructure for a total consideration of USD 2 billion. The venture is expected to operate under the name Louisiana Integrated PolyEthylene JV LLC.
- In September 2020, INEOS Olefins & Polymers announced its partnership with Saica Natur in a supply agreement for recycled LDPE and LLDPE. The long-term agreement may help INEOS serve the growing demand for increased recycled products in sustainable, virgin quality flexible packaging.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global Plastic Calendering Resins market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights by Type (PVC, PET, PP, PETG), By End-use (Food & Beverages, Healthcare & Medical, Automotive), & Region.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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