Market Analysis: —
The Global Polymer Resin Market is projected to have a healthy growth at a notable CAGR during the forecast period (2016-2022). Polymer Resin simply put is a clear liquid plastic product which hardens in creating a durable, glossy and thick coating. It has two parts- liquid catalyst and liquid Plastic Resin. The catalyst activates the liquid resin that starts the hardening process. Once hardened, this is water-resistant and fade-proof.
Polymer resin has a wide range of applications. It is used in car factories, in manufacturing plants which produce components and spare parts for vehicles, it is used in the construction sector for producing aesthetically pleasing and durable floor tiles, sturdy door or window frames and bases of countertops, it is used in the packaging industry where the liquid form is used for packaging uniquely shaped or irregularly shaped products and can also be used for packing fashion solid as well as sleek cases (cosmetics and expensive powders) along with study containers and bottles, it is used in the textile industry for making zippers and buttons, and is also used in other forms of technical applications such as in technical fabrics, mechanical rubber products, paper machine clothing and more.
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There are several factors that is propelling the growth of the Polymer Resin Market. These factors according to the Market Research Future (MRFR) report include increasing trend of the auto industry that include fuel efficiency, light vehicles and lower emission, growing demand for Polymer Resin in various application industries namely industrial, consumer, medical, construction and electrical & electronic and social awareness regarding sustainable materials. On the contrary, rising concerns about environmental changes may hinder the growth of the Polymer Resin Market.
Market Research Future report offers a comprehensive segmental analysis of the Polymer Resin Market on the basis of Type and Application.
Based on Type, it is segmented into EPS (expandable polystyrene), polystyrene (PS), polypropylene (PP), polyethylene (LLDPE, LDPE, HDPE), polyvinyl chloride (PVC), and PET (Pet bottle resin). Of these, polyethylene will have the largest share in the market followed by the PVC segment.
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Based on Application, the Polymer Resin Market is segmented into industrial, medical and consumer, construction, automotive and electrical and electronics. Of these, automotive will dominate the market during the forecast period followed by electrical and electronics.
Based on Region, the Polymer Resin Market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, the APAC region will remain the frontrunner in the polymer resin market owing to increasing disposable income coupled with increase in medium and small enterprise initiatives. China will lead the market in this region as a good number of end-user industries are promoting the requirement for the same. The polymer resin market in Europe is experiencing some economic hurdles. The market here is being impeded both by post-Brexit crisis and debt crisis. The automotive sector however can improve the situation by acting as a catalyst for the market in this region. The Polymer Resin Market in North America will have a favorable growth owing to the region’s strong industrial base.
Leading players profiled in the Polymer Resin Market include Bayer AG, Evonik, Celanese Corporation, Covestro, LG Chem, SABIC, Solvay Plastics, DuPont, Royal DSM, and BASF SE.
Feb 2019- AGR has come up with its latest lightweight PET bottle which offers the assurance that the restricted material accessible to produce PET bottles that are light weight is exactly distributed where it requires being with the ideal thickness for ensuring proper performance. The company stated that the system with the measurement technology of AGR Pilot Profiler installed in the blowmoulder will offer manufacturers a means of measuring material distribution accurately on each bottle in real time along with adjusting the blowmoulder proactively for maintaining correct distribution as countering the process variation’s effect. With this lightweight PET bottle, the company stated that the process could be controlled in case of the lightest bottles too.
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