Structural Strength: Tie Layer Resins Market Predicts $3.8 Billion...

Structural Strength: Tie Layer Resins Market Predicts $3.8 Billion Future

Posted 2024-05-08 18:54:21

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Fact.MR, a company that offers competitive intelligence and market research, projects that the global Tie Layer Resins Market will reach a valuation of US$ 2.3 billion in 2023 and expand at a compound annual growth rate (CAGR) of 5.2% from 2023 to 2033.

Because tie layer resins are made from renewable raw materials, like plant-based feedstock, the packaging sector has a smaller environmental impact. The market for renewable tie layer resins is anticipated to be driven by the combination of the government's efforts to encourage the use of renewable raw materials and the growing demand for sustainable packaging materials.

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Sustainability initiatives are expected to support the growth of the tie layer resins market during the forecast period by driving the demand for biodegradable and compostable packaging materials, renewable raw materials, and recycled materials. Market players offering sustainable tie layer resins solutions are likely to be well-positioned to tap into the growing sustainable packaging materials market and achieve sustainable growth.

Key Takeaways from Market Study:

The global tie layer resins market is projected to grow at 5.2% CAGR and reach US$ 3.8 million by 2033
The market witnessed a historical CAGR of 4.4% between 2018 to 2022
Under type, the non-reactive segment dominates the market with a 58.4% market share
LLDPE is preferred as a base resin for tie layer resins because of its excellent mechanical properties, good flexibility, low melting point, good barrier properties, and compatibility with other polymers
East Asia is expected to dominate the global market accounting for 31.6% market share in 2023
Prominent tie layer resins manufacturers are Arkema SA, Dow Inc., Kraton Corporation, LyondellBasell, Mitsubishi Chemical Corporation, Mitsui Chemicals, SK Functional Polymers, and Yparex among others

“The Growing Packaging Industry to Bolster the Demand for Tie Layer Resins During the Forecast Period” says a Fact.MR analyst.

Key Companies Profiled In This Report

Arkema SA
Dow Inc.
Kraton Corporation
LyondellBasell
Mitsubishi Chemical Corporation
Mitsui Chemicals
SK Functional Polymers

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Market Development:

Manufacturers are focusing on collaborating with other market players in the industry which is likely to help to mitigate the impact of market volatility. Market players emphasize on developing new and innovative products that meet the changing needs of customers.

Innovation can help market players differentiate themselves from competitors and provide a competitive advantage, even in challenging market conditions. Building and strengthening customer relationships to help market players maintain their customer base even during the recent economic downturn.

In July 2021, SK Functional Polymer launched a brand new tie resin OREVAC 18603, suitable for polyester-based flexible and rigid multilayer packaging. OREVAC 18603 is a maleic anhydride modified ethylene methyl-acrylate (EMA) copolymer resin.

Segmentation of Tie Layer Resins Industry Research Report

By Type :

Reactive
Non-reactive

By Base Resin :

HDPE
LDPE
LLDPE
EVA
PP
Others (SEBS & Others)

By Bonding Material :

Polymers
Metals
Others (Glass & Others)

By Application :

Films
Coextrusion coating
Metal Coating
Blow molding
Thermoforming
Others

By End Use :

Food & Specialty Packaging

Flexible
Rigid

Paperboard Coating
Multilayer Bottles
Barrier Sheets
Nylon Modification
Wood-plastic composites
Automotive (Gas Tanks & Others)
Others

By Region :

North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the tie layer resins market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of type (reactive and non-reactive), base resin (HDPE, LDPE, LLDPE, EVA, PP, and others (SEBS & others)), bonding material (polymers (ethylene vinyl alcohol (EVOH), polyamide, polyethylene, polypropylene, polyester (PET), polystyrene, polycarbonate, and others), metal (steel, aluminum, and others), others (glass & others)), application (films (blown film, and cast film), coextrusion coating, metal coating, and blow molding (bottles, containers, and others), thermoforming, others), end use (food & specialty packaging (flexible, rigid), paperboard coating, multilayer bottles, barrier sheets, nylon modification, wood-plastic composites, automotive (gas tanks and others), and others) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).