Increase in
the demand for packaged food products that require protection against moisture
and other environmental hazards is the major driver fueling the growth of the packaging
resins market.
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Polypropylene (PP) is projected
to be the fastest-growing type segment of the packaging resins market
Polypropylene
(PP) is projected to be the fastest-growing type segment of the packaging
resins market between 2017 and 2022 due to the provision of an excellent barrier
against gas and vapors.
PP possesses
similar features to those of polyethylene,
and does not crack under stress, with the exception when hot aromatic or
halogenated solvent products are packaged,
which soften it. It has high resistance to almost all types of chemicals,
including strong acids, alkalis, and most organic materials.
The Asia Pacific is projected to be the
fastest-growing market for packaging resins
The Asia Pacific is projected
to be the fastest-growing market for packaging resins. Changing lifestyles towards the preference for packed food &
beverage products and increasing demand for fast-moving consumer goods are
expected to drive the packaging resins market.
Countries,
such as India and China are expected to post high growth in the plastic
packaging market due to the growing demand for plastic packaging due to easy availability
at cheaper rates and increasing population.
In addition
to this, growing populations in these countries present a significant customer
base for FMCG products and food & beverages, which in turn is expected to
lead to the growth of the packaging resins market.
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The report analyzes
the key growth strategies adopted by the leading market players between 2015
and 2017. ExxonMobil Corporation (US), Sinopec Corporation (China), LyondellBasell Industries Holdings B.V
(Netherlands), SABIC (Saudi Arabia), PetroChina Company Ltd.(China), and DowDupont
Inc. (US) are the key players operating in the packaging resins market.
These
companies adopted new product launches, agreements & partnerships, mergers
& acquisitions, and investments & expansions strategies to strengthen their
presence in the packaging resins market.
Reference:
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