The global resin market is projected to gain momentum from the rising demand for sustainable packaging for water bottles and food items. This information is published in an upcoming report by Fortune Business Insights™, titled, “Resin Market Size, Share & Industry Analysis, By Type (Polypropylene, Polyvinyl chloride, Polyurethane, Polyethylene terephthalate, Polystyrene, expanded polystyrene, others), By End-Use Industry (Packaging, Building & Construction, Automotive & Transportation, Electrical & electronics, Agriculture, others) and Regional Forecast, 2019-2026.” The report further mentions that the automotive industry is exhibiting an increasing demand owing to the ongoing resin market trend of light weight vehicles.
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List of prominent companies that are operating in the global resin market are:
- Tosoh Corporation
- Ineos Holdings Limited
- Toray Group
- Mitsui Chemicals
- Teijin Limited
- Mitsubishi Engineering-Plastics Corporation
- Sumitomo Chemical Co. Ltd.
- Nova chemicals
- Radici Group
- Other key market players
What Does this Report Contain?
- In-depth study of the contracts and developments by prominent companies.
- Assessment of resin market growth drivers, obstacles, opportunities, and challenges.
- Current, historical, and forecasted size of the market.
- Detailed analysis about all the niche segments present in the market.
- Major changes in the market dynamics.
Technological Advancements and Rising Population to Favor Growth in Asia Pacific
The market is geographically segregated into Asia Pacific, the Middle East and Africa, Europe, North America, and Latin America. Amongst them, Asia Pacific is in the dominant position by gaining the largest resin market share at present. This growth is attributable to the rising demand from the emerging economies, such as Japan, China, and India. China is considered to be one of the biggest consumers of resin on account of high demand from automotive and packaging end use industries. Apart from that, technological advancement and ever-increasing population are set to aid in boosting the resin market size in this region.
Europe and North America, on the other hand, are anticipated to showcase slow growth owing to the rising demand from electronics, electrical, and automotive industries. In the Middle East and Africa and Latin America, there is an increasing demand for resins from building and construction as well as consumer goods industries. Besides, rising trend of sustainable developments and technological advancements will support the resins market growth.
Key Players Focus on Acquiring Other Prominent Companies to Gain Robust Position
The market includes several big, small, and medium organizations. They are striving persistently to gain maximum resin market share through mergers and acquisitions and product launches. Below are a couple of the latest industry developments:
Major Segments includes:
- Polyvinyl chloride
- Polyethylene terephthalate
- Expanded polystyrene
- Acrylonitrile butadiene styrene
- Polyamides, polycarbonates
- Poly methyl methacrylate
- Other thermoplastics
- Other plastics
By End-Use Industry
- Building & Construction
- Automotive & Transportation
- Electrical & electronics
- Consumer goods
To Gain More Insights into the Market with Detailed Table of Content and Figures, Click Here:
- June 2019: Dow Chemical Company, a company formed by the merger of Dow Chemical and DuPont, headquartered in the U.S., organized a ceremony for its latest high-value silicone resin plant to be situated at the company’s manufacturing site in Jiangsu, China. The new facility will expand the company’s high-value silicone resin capacity to meet the urgent demand for the creation of silicone products in the emerging markets and significant industries.
- March 2019: Dow and BioLogiQ declared that they are partnering up to examine potential synergies between Dow’s industry-leading polyethylene resin portfolio and BioLogiQ’s novel NuPlastiQ® BioPolymer. It will help in producing more plant-based plastic products. BioLogiQ is committed to developing plastics from renewable energy sources and it will also use Dow’s research and developments. Moreover, Dow’s increasing plastic resin sales and distribution networks will be used by BioLogiQ to check whether they can leverage plant-based plastics.
- March 2019: Arkema S.A., a specialty chemicals and advanced materials company headquartered in France, declared that it has started a Kepstan PEKK (poly-ether ketone-ketone) plant at its site near Ala. The facility manufactures plastic additives. It has helped in creating around 23 new job opportunities. This investment will strengthen the company’s offerings of innovative materials in the automotive, electronics, oil & gas, and aeronautics market. It will also produce lightweight materials, which is one of its innovative platforms for sustainable development.
- August 2015: Mitsubishi Engineering-Plastics Corporation, a comprehensive engineering plastics manufacturer, unveiled its new Iupital A10-03 with superior creep resistance as well as Iupital A25-03 equipped with high grade flowability and rigidity. Lupital A25-03 possesses around 10 percent higher mechanical properties and astonishing flowability as compared to the traditional polyacetal resins.
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