Calendering Resins: Introduction
- The process of manufacturing various packaging films entails usage of calendering resins. Calendering is a process employed in the manufacture of high-quality and large-volume products, primarily PVC sheets and films. In the calendering process, the polymer is melted and compounded with heat and pressure in an extruder. Then, the film is formed by the pressure of calendering rolls.
Key Drivers of Global Calendering Resins Market
- The calendering resins market is expected to expand at a significant pace during the forecast period. Increase in usage of calendering resins in food & beverages packaging products is anticipated to drive the calendering resins market.
- Significant demand for safer and flexible packaging films for products from various industries such as food & beverages, pharmaceutical, and agriculture is estimated to boost the demand for calendering resins. Packaging with films made of calendering resins is widely used due to the increase in demand for flexible packaging for containers employed in the shipping industry.
- Introduction of new products in the flexible packaging industry such as vacuum pouches, high temperature retort pouches, and stand-up pouches has led to a change in packaging trends. This is a major factor that is propelling the calendering resins market.
Food & Beverages End-use Industry Segment to Dominate Global Market
- Based on end-use industry, the food & beverages segment accounted for major share of the global calendering resins market in 2019. Significant growth of the food & beverages industry is expected to drive the calendering resins market during the forecast period. PVC, PET, and PETG films are considered the most economic means for packaging and distribution of food products.
- Various properties of calendering resin-based packaging films include improved shelf life, flexible packaging that makes it easy to store products, resealability, lack of contamination, UV resistance, recyclability, shock resistance, and low shrinkage tendency. Therefore, these films are primarily used in health care and medical applications. This is projected to drive the global calendering resins market in the near future.
Availability of Various Substitutes to Hamper Global Market
- Availability of various packaging materials used in the packaging sector is likely to increase competition in the global calendering resins market. Various types of resins, polymers, films, and tapes are preferred, owing to their cost-effectiveness. This is expected to hamper the global market during the forecast period.
Covid-19 Impact on Global Calendering Resins Market
- The Covid-19 pandemic has halted manufacturing activities of various end-use industries across the globe. This has weakened the demand for calendering resins. However, the situation is likely to recover gradually depending on the course of COVID-19's prevalence. This coupled with subsequent resumption of of manufacturing activities is expected to drive the market in the near future.
- Demand for calendering resins in the health care & medical sector has been rising across the globe owing to the growth in demand for medical and health care products during the COVID-19 pandemic. This is boosting the global calendering resins market.
North America to Hold Significant Share of Global Calendering Resins Market
- In terms of region, the global calendering resins market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is anticipated to hold notable share of the global calendering resins market during the forecast period. Expansion of the food & beverages sector in the region is projected to propel the demand for calendering resins in North America.
- Asia Pacific is projected to dominate the global calendering resins market during the forecast period. Demand for calendering resins is estimated to rise in food & beverages, automotive, and medical & health care industries in the region. Presence of well-established building & construction industry in Asia Pacific also offers significant opportunities to the calendering resins market in the region.
Key Players Operating in Global Calendering Resins Market
The global calendering resins market is fragmented with presence of large numbers of players. Market players have adopted various strategies to strengthen their product portfolios and expand presence in the global calendering resins market. Key players operating in the global calendering resins market include:
- Formosa Plastic Corporation
- Eastman Chemical Company
- SK Chemicals
- Westlake Chemical Corporation
- Shin-Etsu Chemical Co., Ltd.
- Occidental Petroleum Corporation
- E.I. du Pont de Nemours & Co.
Global Calendering Resins Market: Research Scope
Global Calendering Resins Market, by Type
Global Calendering Resins Market, by End-use Industry
- Food & Beverages
- Electrical & Electronics
- Building & Construction
- Health Care & Medical