The future of packaging resins in a sustainable world

Packaging resin plays a pivotal role in the manufacturing and consumer goods industries. From flexible bags and films to rigid bottles, trays, and containers, packaging resins are engineered to meet the requirements of various applications. They can enhance shelf life, ensure safe handling, and support transportation.

The global packaging resin market reached a valuation of approximately USD 238.15-billion in 2023 and is projected to grow to around USD 509.05-billion by 2034, expanding at a compound annual growth rate (CAGR) of 7.15% between 2024 and 2034. This growth underscores the critical role that packaging resins play.

Types of packaging resins

Various types of packaging resins serve distinct purposes.

Polyethene (PE) is one of the most widely used packaging resins due to its flexibility, durability, and moisture resistance. Available in various forms such as high-density polyethene (HDPE) and low-density polyethene (LDPE), polyethene is used in applications like plastic bags, shrink films, and bottle manufacturing.

Polypropylene (PP) is valued for its high heat resistance and strength, making it ideal for applications where durability is essential. It’s found in food containers, bottle caps, and certain types of films. Its lightweight properties make it cost-effective for transport and energy-efficient in production.

Widely recognised for its clarity and strength, polyethene terephthalate (PET) is used for beverage bottles, food containers, and other clear packaging needs. PET’s recyclability has made it a popular choice in sustainability initiatives, as it’s easily reprocessed into new products.

Polyvinyl chloride (PVC) is known for its versatility and chemical resistance. It’s often used in applications that require protection from moisture and contamination, such as medical packaging. However, its environmental impact has led to increased scrutiny, with some manufacturers seeking alternative resins.

Polystyrene (PS) is used in foam packaging, plastic cutlery, and other disposable items. Its lightweight and insulating properties make it useful in temperature-sensitive packaging, but its environmental impact has prompted ongoing exploration of sustainable substitutes.

Polycarbonate (PC) is a durable material known for its impact resistance and clarity, commonly used in medical and industrial packaging. Its strength makes it suitable for heavy-duty applications, although it can be more expensive than other resins.

Polyamide (PA), or nylon, offers barrier properties against oxygen and moisture, making it suitable for food packaging and other applications where product freshness is crucial. It’s commonly used in vacuum packaging and flexible films.

Biodegradable resins: Polylactic acid (PLA) and polyhydroxyalkanoates (PHA)

As sustainability becomes a primary focus, biodegradable resins such as PLAs and PHAs are gaining popularity. Polylactic Acid (PLA), derived from renewable resources like cornstarch, is often used for food containers and compostable packaging. Polyhydroxyalkanoates (PHA) are produced by microbial fermentation and are fully biodegradable, making them an eco-friendly option for various single-use applications.

Factors driving growth in the packaging resin market

Several factors contribute to the growth of the packaging resin market. Many companies are expanding their geographical footprint by launching pharmaceutical and other brands internationally. This expansion fuels the demand for specialised packaging solutions.

Innovations in technology are impacting the production of packaging resins. Advanced production techniques enhance the material properties, such as barrier protection and durability, creating opportunities for packaging resins in sectors like food and pharmaceuticals.

With increasing environmental regulations, there’s growing support for recyclable and biodegradable packaging solutions. Governments worldwide are implementing policies to reduce plastic waste, pushing manufacturers to adopt eco-friendly packaging options like PLA and PHA.

As consumers and businesses look for sustainable alternatives, the demand for bioplastics is rising. Biodegradable resins, particularly PLA and PHA, offer environmentally friendly options that reduce reliance on fossil fuel-based plastics. This trend supports the long-term growth of the packaging resin market, especially as more brands emphasise sustainable packaging.

Regional Insights: Asia-Pacific

In 2023, the Asia-Pacific region dominated the global packaging resin market. The demand for packaging solutions surged following the COVID-19 pandemic, particularly in China, where the vaccine rollout heightened the need for secure packaging.

As the region becomes a hub for biopharmaceutical manufacturing, there is an increased demand for packaging solutions, including multilayered films and specialised containers, which are essential for protecting biological drugs.

Sustainability and the future of packaging resins

Sustainability is a focus within the packaging resin market. The emphasis on reducing environmental impact has led to innovations in recyclable and biodegradable resins. Bioplastics like PLA and PHA are derived from renewable sources and are designed to decompose more quickly than traditional plastics. Additionally, recycled PET (rPET) is increasingly used in food and beverage packaging, allowing for greater circularity in the packaging lifecycle.

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This story is based on a report by Towards Packaging.