Global Calendering Resin Market to Reach US$ 16.22 Billion by 2034 With CAGR 4.7% Analysis By Fact.MR

Regulations aimed at reducing single-use plastic waste driving calendering resin use in production of recyclable materials across industries, says Fact.MR.

ROCKVILLE PIKE SUITE, MD, USA, July 31, 2024 /EINPresswire.com/ -- Growing Emphasis on Use of Sustainable and Eco-friendly Materials in Construction Making Calendering Resins More Attractive: Fact.MR Report

The global calendering resin market size is expected to be worth US$ 10.25 billion in 2024 and is projected to reach a valuation of US$ 16.22 billion by the end of 2034, mainly driven by rising demand from the food & beverage and medical packaging sectors. The market has been projected to expand at a CAGR of 4.7% from 2024 to 2034.Primary factor driving market expansion is the implementation of stringent regulations aimed at reducing the quantity of single-use plastic waste and encouraging the use of biodegradable polymers.

The market is also projected to be driven by constant research and development and technological breakthroughs in the field of calendering resin production through 2034. One of the primary factors driving the need for plastic calendering resins is the rising need for materials that are lightweight, robust, flexible, abrasion-resistant, and easily recyclable. The construction sector is a major end user of calendering resins where there is a growing emphasis on the use of eco-friendly materials.

Fluctuating crude oil prices impact the production costs of calendering resin. Converting crude oil into plastic resins, coupled with additive inclusion, increases expenses in generating plastic calendering resins. This volatility in costs poses a major challenge for manufacturers.

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Key Takeaways from Market Study

The global calendering resin market is projected to expand at a CAGR of 4.7% through 2034.
The market is estimated at a value of US$ 10.25 billion in 2024.
Sales of calendering resins are forecasted to reach US$ 16.22 billion by 2034.
East Asia is projected to account for 38.4% market share by 2034.
The market in the United States is poised to reach US$ 2.1 billion in 2024.
Sales of calendering resins in South Korea are forecasted to rise at 7% CAGR through 2034.
The market in Japan is projected to reach US$ 1.79 billion by the end of 2034.
“Demand for calendering resins is increasing in electrical and electronics manufacturing due to its superior insulating qualities. The extensive adoption of calendering resins is motivated by governmental regulations aimed at reducing single-use plastic waste and promoting sustainability,” says a Fact.MR analyst.

Increasing Significance of Calendering Resins in Production of Recyclable Materials

Calendering resins are essential to the production of long-lasting films, sheets, and laminates in the packaging industry with superior strength, printability, and barrier properties. These polymers meet the growing demand for flexible, functional, and ecologically friendly packaging. Calendering resins offer packaging that maintains freshness and extends shelf life by protecting contents from external factors such as air and moisture.

Printability of calendering resins increases both the visibility and appearance of the packaging. Calendering resins are becoming increasingly significant in the manufacturing of recyclable materials as customers seek more ecologically friendly alternatives. In general, these flexible resins are critical for producing high-performance, eco-friendly packaging.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the calendering resin market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on product type (PVC, PET, PETG) and application (furniture & furniture trims, automotive, food & beverages, electronics & electrical, building & construction, healthcare & medical), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

Key Market Players –

SK Chemicals • Wuzhou Sun Shine Forestry and Chemicals Co., Ltd. • Westlake Chemical Corporation • Formosa Plastic Corporation • Shin-Etsu Chemical Co., Ltd. • PT Dharma Hutani Makmur • Eastman Chemical Company • E.I. du Pont de Nemours & Co. • Indorama Ventures Public Company Limited • Resin Chemicals Co., Ltd. • LG Chem Ltd. • Occidental Petroleum Corporation • SABIC • Klöckner Pentaplast Group • China National Chemical Corporation • Mexichem • Polyone Corporation • Covestro AG • Lotte Chemical Corporation • Celanese Corporation • Avery Dennison Corporation

Industry News –

In December 2021, SABIC introduced a novel chemically upcycled polybutylene terephthalate (PBT) resin made from ocean-bound polyethylene terephthalate (PET) bottle debris to help minimize ocean pollution. The new calendering resin is called LNP ELCRIN IQ.

In October 2020, LyondellBasell and Sasol announced a definitive agreement to form a 50/50 joint venture in which LyondellBasell is expected to acquire 50% of Sasol's 1.5 million ton ethane cracker, 0.9 million ton low and linear low-density polyethylene plants, and associated infrastructure for a total of US$ 2 billion. The venture's name is planned to be Louisiana Integrated PolyEthylene JV LLC.

In September 2020, INEOS Olefins & Polymers established a supply deal with Saica Natur for recovered LDPE and LLDPE. The long-term partnership may enable INEOS to meet the rising demand for more recycled goods in sustainable, virgin-grade flexible packaging.

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