The Global Resin Market is projected to gain momentum from the rising demand for sustainable packaging for water bottles and food items. This information is published in an upcoming report by Fortune Business Insights™, titled, “Resin Market Size, Share & Industry Analysis, By Type (Polypropylene, Polyvinyl chloride, Polyurethane, Polyethylene terephthalate, Polystyrene, expanded polystyrene, others), By End-Use Industry (Packaging, Building & Construction, Automotive & Transportation, Electrical & electronics, Agriculture, others) and Regional Forecast, 2019-2026.” The report further mentions that the automotive industry is exhibiting an increasing demand owing to the ongoing resin market trend of light weight vehicles.
List of Best companies that are operating in the Global Resin Market are:
- Tosoh Corporation
- Ineos Holdings Limited
- Toray Group
- Mitsui Chemicals
- Teijin Limited
- Mitsubishi Engineering-Plastics Corporation
- Sumitomo Chemical Co. Ltd.
- Nova chemicals
- Radici Group
- Other key market players
Browse More Report Summary: https://www.fortunebusinessinsights.com/industry-reports/resin-market-101746
Technological Advancements and Rising Population to Favor Growth in Asia Pacific
The market is geographically segregated into Asia Pacific, the Middle East and Africa, Europe, North America, and Latin America. Amongst them, Asia Pacific is in the dominant position by gaining the largest resin market share at present. This growth is attributable to the rising demand from the emerging economies, such as Japan, China, and India. China is considered to be one of the biggest consumers of resin on account of high demand from automotive and packaging end use industries. Apart from that, technological advancement and ever-increasing population are set to aid in boosting the resin market size in this region.
Europe and North America, on the other hand, are anticipated to showcase slow growth owing to the rising demand from electronics, electrical, and automotive industries. In the Middle East and Africa and Latin America, there is an increasing demand for resins from building and construction as well as consumer goods industries. Besides, rising trend of sustainable developments and technological advancements will support the resins market growth.
Key Players Focus on Acquiring Other Prominent Companies to Gain Robust Position
The market includes several big, small, and medium organizations. They are striving persistently to gain maximum resin market share through mergers and acquisitions and product launches. Below are a couple of the latest industry developments: