GVR Report cover Plastic Calendering Resins Market Size, Share & Trends Report

Plastic Calendering Resins Market Size, Share & Trends Analysis Report By Type (PVC, PET, PP, PETG), By End-use (Food & Beverages, Healthcare & Medical, Automotive), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68040-007-7
  • Number of Pages: 80
  • Format: Electronic (PDF)

Report Overview

The global plastic calendering resins market size was valued at USD 20.95 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.0% from 2022 to 2030. The market is anticipated to be driven by increased demand for food & beverages and healthcare packaging. Moreover, the government's strict standards and policies to reduce single-use plastic waste, increased biodegradable plastics, and focus on a sustainable future have resulted in the widespread use of and demand for bio-plastic calendering resins. 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.

U.S. plastic calendering resins market size, by type, 2020 - 2030 (USD Billion)

The COVID-19 pandemic had a negative impact on the market for plastic calendering resins. The pandemic led to the sealing of national borders and the temporary shutdown of industries and markets in 2020. There was a huge spike in the demand from the medical industry, which turned out to be positive for this industry. The disruption in global supply chains negatively impacted the sales of other plastic products, transportation, and supply of raw materials, which led to a drop in sales of construction and automotive products, thereby leading to a reduction of plastic calendering resins demand from these sectors. However, plastic calendering resins witnessed a recovery in demand in 2021, and the market is expected to witness significant growth over the forecast period. 

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. Moreover, there is an increasing need for lightweight, durable, flexible, high abrasion resistance, and easily recyclable material, which is one of the major factors driving the demand for plastic calendering resins.

The fluctuating crude oil prices also have an impact on the plastic calendering resins industry. The cost of plastic calendering resin manufacturing is high because of the process involved in converting crude oil into plastic resins with the help of additives. Furthermore, rising awareness regarding sustainable living has forced manufacturers to develop recycled plastic resins and focus on R&D activities. In November 2021, SK Chemicals began mass production of its first chemical recycling copolyester, named ECOTRIA CR, with the help of plastic waste recycling technology. The new technology is expected to help the company to be ahead of its competitors and capture market share.

Type Insights

The PVC resins segment accounted for the largest share of over 55.0% in 2021 and is expected to retain its dominance over the forecast period. This can be attributed to the increasing demand for and use of PVC resin across various industries, especially the food & beverage industry. In addition, healthcare packaging and medical products require calendered plastic, which will further drive the segment.

The PET resins segment is expected to expand at a CAGR of 3.8% over the forecast period. This can be attributed to unique properties such as flexibility, heat and impact resistance, and recyclability. The food and cosmetic industries are the biggest consumers of PET resin products owing to their heat resistance and toughness. The products made from PET are excellent for cosmetic packaging, food trays, and rigid food packaging. 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.

End-use Insights

The food & beverages segment accounted for the largest share of over 30.0% in 2021 and is expected to retain its position in the market over the forecast period. This can be attributed to the usage of calendering resins in food packaging as it improves shelf life, is easy to store, and can be re-sealed. Flexible packaging is a better packaging alternative to traditional packaging, which, in turn, will boost the demand in the food industry.

Global plastic calendering resins market share, by end-use, 2021 (%)

The healthcare segment is expected to expand at a CAGR of 4.3% over the forecast period. The use of plastic calendering resins in manufacturing medical products and their packaging is growing owing to the recent Covid-19 outbreak in 2020. It helps in providing hygienic and non-contaminated packaging alternatives. In 2020, Vynova Group launched a bio-attributed PVC calendering resin, which can be used in healthcare and medical End-uses. 

Regional Insights

Asia Pacific accounted for the largest revenue share of over 30.0% in 2021 and is anticipated to expand at the highest CAGR over the forecast period. The region is expected to dominate the packaging segment in the coming years. The packaging industry’s growth is primarily driven by the food & beverage segment due to the rising population in the country, significant disposable incomes, and changes in food habits.

Plastic Calendering Resins Market Trends by Region

North America is expected to grow over the forecast period owing to the use of plastic in End-uses and plastic waste generation in the region. Factors such as the presence of major market players, availability of raw materials, and the high adoption of advanced technologies are the key factors driving the market in the region.

Key Companies & Market Share Insights

The market is highly competitive as it features various global and regional market players. The world’s leading companies are using partnerships, collaborations, acquisitions, mergers, and agreements as strategies to withstand the intense competition and increase their market share. Moreover, manufacturers of plastic calendering resins are spending extensively on research and development activities to develop advanced products and integrate new technologies and characteristics to lead a sustainable future.

For instance, Tritan Renew, a unique calendering resin product manufactured from 50% recycled material, was introduced by Eastman Chemicals Company in 2020. Through such innovations, the market players are looking forward to incorporating sustainability, providing improved plastic calendering resins, and expanding their market share. Some prominent players in the global plastic calendering resins market include:

  • Formosa Plastics Corporation

  • Westlake Corporation

  • Eastman Chemical Company

  • Occidental Petroleum Corporation

  • Shin-Etsu Chemical Co., Ltd.

  • Avery Dennison Corporation

  • Covestro AG

  • Reliance Industries Limited

  • LG Chem

  • China Petrochemical Corporation

  • SK chemicals

  • LOTTE Chemical Corporation

  • Indorama Ventures Public Company Limited

  • SABIC

  • Orbia

Plastic Calendering Resins Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 22.11 billion

Revenue forecast in 2030

USD 29.8 billion

Growth rate

CAGR of 4.0% from 2022 to 2030

Base year for estimation

2021

Historical data

2019 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion, volume in kilotons, and CAGR from 2022 to 2030

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, end-use, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; Italy; U.K.; France; China; India; Japan; Australia; Brazil

Key companies profiled

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; Indorama Ventures Public Company Limited; Orbia

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional, and segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Plastic Calendering Resins Market Segmentation

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2030. For this study, Grand View Research has segmented the global plastic calendering resins market report based on type, end-use, and region:

Global Plastic Calendering Resins Market Segmentation

  • Type Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

    • Polyvinyl Chloride (PVC)

    • Polyethylene Terephthalate (PET)

    • Polypropylene (PP)

    • Polyethylene Terephthalate Glycol (PETG)

    • Others

  • End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

    • Food & Beverages

    • Automotive

    • Healthcare & Medical

    • Electrical & Electronics

    • Construction & Buildings

    • Furniture & Furniture Trim

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

    • Central & South America

      • Brazil

    • Middle East & Africa

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