San Francisco, California, June 19, 2017: TMR Research has published a new report titled, “Packaging Resins Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.” Due to high requirement in many sectors like FMCG as well as healthcare packaging, it is projected that the packaging resins market will rise at a fast rate. During the assessment period of 2017 to 2025, the packaging resins market is predicted to grow at a healthy CAGR of 7.6%. In the year 2017, the packaging resins market accounted for a total of US$192.17 bn. Towards the end of the assessment period, this figure is predicted to account to around US$277.13 bn.
A wide variety of resins are present for meeting specific requirements, like for example adhesive resins are used for solidly joining two different materials, whereas sealant resins are used for offering solidity that is leak proof as well. For increasing the durability, minimising flavour disappearance, and for protecting the freshness, barrier resins are taken into use. For a better and improved packaging experience modifier resins are taken into use. For the purpose of sealing or peeling off almost anything, the peelable lidding resins are taken into use.
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Packaging resins are divided in terms of type. They are divided into PVC, PP, LDPE, HDPE, PS & EPS, PET, to mention a few. Because of its durability, ability to resist chemicals, etc, it is the LDPE sector of the packaging resins market that is predicted to dominate the market. LDPE resins are cheaply priced as well as have multiple applications in many regions and this is predicted to boost the packaging resins market.
Plastic is considered to be a better option in comparison to others because plastics weigh much less in comparison to other materials. HDPE packaging resins are used for making many types of bottles as well as containers, and unpigmented containers are very firm and are the best choice to package any product that has a smaller life.