Shifting preference of consumers from traditional packaging to novel packaging
Rapid growth in the residential sector in urban as well as semi-urban areas across the world is expected to contribute significantly to the revenue growth of the global calendering resins market. Substantial growth in the services and manufacturing sector has led to strong growth in the global GDP in the past. This, in turn, has had a positive impact on the calendering resins (PET, PETG, and PVC) market. Economic growth of several regions is likely to increase the disposable income with people, which in turn improves their standard of living. Many such people are now preferring shifting towards new packaging. They demand safer and flexible packaging films for products from various industries such as food & beverage, pharmaceutical and agriculture. The use of packaging with films made of calendering resins is widely demanded due to the increase in demand for flexible packaging for the containers used in shipping products.
Flexible packaging is increasingly being used in major consumer brands. There is also some new introduction of products in the flexible packaging market such as vacuum pouches, high temperature retort pouches, and stand-up pouches, which has led to a change in global packaging trends. Addition of layers into the flexible packaging structure can lead to improvements in its functionality and economic viability. Flexible packaging products use over 70% less plastic than rigid packaging options and also acquire a small space on shelves during packaging. Lightweight characteristics of flexible packaging makes its recycling easier. Flexible packaging provides a wide range of presentation possibilities that enable the product manufacturer to increase the aesthetic appeal of the product and also enhance the product branding. This increases the inclination of product manufacturers towards the adoption of flexible packaging solutions over rigid packaging solutions.
Growth in the global food industry is resulting in an increased demand for packaging films
Significant growth of the food & beverage industry will help drive the calendering resins (PET, PETG, and PVC) market over the forecast period. Consumers are more inclined towards the use of packaging films for food products. PVC, PET and PETG films are considered the most economic means for the packaging, protection and distribution of food products. Other properties of these packaging films include an improved shelf life, flexible packaging that is easy to store the products, reseal ability, no contamination, UV resistance, recyclable nature, shock resistance and low shrinkage tendency. These packaging films are also becoming the first choice of many food industries as these are considered more economical than any other packaging material. Other than food and beverages, the healthcare and medical segment is also expected to dominate the global calendering resins market with the increase in demand for flexible packaging plastic.
Food & Beverage application segment to lead the global market in terms of market share
Among the different application segments in the global calendering resins market, the food & beverage segment is estimated to hold high value share of about 30% throughout the forecast period. The food & beverage segment is projected to gain 150 BPS by 2025 as compared to
2017, while expanding at a healthy CAGR of 5.5% over the forecast period. Healthcare and medical is the second largest application segment in the global calendering resins market. Consumption of calendering resins (PET, PETG, and PVC) in the healthcare & medical segment was pegged at 1,167,763 tons in 2017 and is expected to reach nearly 1,614,937 tons by 2025 end.
Regional analysis for various application areas of calendering resins
Asia Pacific is expected to dominate the global calendering resins market during the forecast period in terms of demand for PET, PETG and PVC packaging films. The forecast for the year 2017 to 2025 indicates that the food and beverages application segment in the Asia Pacific calendering resins market is expected to lead the market with its market share growing at a CAGR of 5.9%. This is followed by the healthcare and medical segment, which is expected to reach a market value of just under US$ 790 Mn in 2025 with a CAGR of 4.4% during the forecast period.
A new research report by Persistence Market Research titled ‘Calendering Resins (PET, PETG, and PVC) Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025’ is a complete guide to the working and growth analysis of the global calendering resins market. The report is created with an intention to present an in-depth analysis of each and every part of the market, which includes key drivers of market growth, restraints that are limiting the growth of the market, and trends as well as opportunities available to key players in the global calendering resins market. The report has been given a systematic approach beginning with the executive summary that includes the key takeaways of the report. It is followed by the basic market definition and taxonomy to introduce the reader to every part of the market briefly. The report also covers a competitive analysis of the market, which includes profiles of all the major players operating in the global calendering resins market. It depicts the present development stage of these key players along with their future growth and expansion plans. This section of the report can be of great help to existing businesses as well as new entrants in the market to understand the competitive scenario of the global calendering resins market and also plan their own counter strategies to acquire competitive advantage.
A methodical segmentation of the global calendering resins market
By Product Type
An efficient research methodology
The research methodology adopted by Persistence Market Research involves some very efficient steps that are capable of presenting the most accurate and interesting results to the readers. The foremost step is an in-depth secondary research to know the overall market size, top industry players, top products, top industry associations, etc. In this process information relevant to the market is gathered from company reports_bk_01_01_2020, company websites, white papers etc. This is followed by a detailed discussion guide based on which industry and expert interviews are conducted to acquire pertinent insights of the market. All the data generated is validated with the help of the triangulation method where primary and secondary research along with Persistence Market Research analysis contributes to the final data. This data is scrutinized using advanced tools to obtain qualitative and quantitative understandings of the global calendering resins market.
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