Calendering Resin Market

Calendering Resin Market Outlook (2024 to 2034)

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.

Calendering resins are being increasingly adopted due to the government's stringent regulations and policies aimed at decreasing the amount of single-use plastic waste, promoting biodegradable polymers, and emphasizing sustainability.

These resins are utilized in the calendering process, which forms and shapes plastic sheets or films. The attributes and characteristics that plastic calendering resins offer include flexibility, durability, and resistance to heat, chemicals, and UV light. Market growth is a result of the rising demand for items made of plastic across a range of industries, including packaging, construction, the automobile industry, and health care.

Key Market Growth Drivers

• The market is projected to be driven by rising demand for plastic in the food and beverage and medical packaging industries.
• Bio-plastic calendering resin demand is increasing due to stringent regulations and policies aimed at decreasing the amount of single-use plastic waste and promoting biodegradable polymers in alignment with sustainability goals.
• As people become aware of the qualities of calendering resins, which include toughness, flexibility, durability, and abrasion resistance, these materials are projected to find a range of applications. This is one of the main calendering resin market trends.
• Leading companies are focusing on enhancing their manufacturing capabilities to increase their market share and meet the rising demand.
• Rising number of alliances and partnerships among major companies, aimed at amplifying their impact on the industry, is projected to facilitate market expansion.

Report Attributes	Details
Calendering Resin Market Size (2024E)	US$ 10.25 Billion
Forecasted Market Value (2034F)	US$ 16.22 Billion
Global Market Growth Rate (2024 to 2034)	4.7% CAGR
North America Market Growth Rate (2024 to 2034)	4.8% CAGR
East Asia Market Value (2024E)	US$ 3.74 Billion
Electronics & Electrical Segment Value (2034F)	US$ 3.88 Billion
Key Companies Profiled	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 China National Chemical Corporation Mexichem Polyone Corporation Covestro AG Lotte Chemical Corporation Celanese Corporation Avery Dennison Corporation

Which Aspects Contribute to Broad Utilization of Calendering Resins across Industries?

“Advancements in Calendering Resin Production Techniques”

Over the coming years, the market is anticipated to be driven by continuous R&D, technical advancements in the field of plastic calendering resins, and the broad use of calendering resins and their necessity across many industries. One of the main reasons driving the need for plastic calendering resins is the growing need for materials that are lightweight, strong, flexible, highly abrasion-resistant, and easily recyclable.

The production of plastic calendering resins is impacted by the volatile pricing of crude oil. The process of turning crude oil into plastic resins with the use of additives drives up the cost of production. Moreover, producers are now compelled to focus on R&D and create recycled plastic resins due to growing consumer awareness of sustainable living.

“Growing Demand for Flexible, Functional, and Eco-Friendly Packaging”

Ability to produce durable films, sheets, and laminates with exceptional strength, printability, and barrier properties relies on the use of calendering resins. The growing demand for flexible, functional, and eco-friendly packaging is met by these polymers. Calendering resins offer packaging solutions that maintain freshness and extend the shelf life of products such as food and beverages by shielding contents from external elements such as air and moisture.

Their printability enhances the visibility and aesthetics of packaging as well. Calendering resins are gaining increased significance in the production of recyclable materials as consumers seek more environmentally friendly alternatives. Overall, these versatile resins are indispensable for creating high-performance, eco-friendly packaging.

What are the Major Hindrances to Calendering Resin Market Growth?

“Volatility in Costs of Petrochemicals and Additives Straining Profit Margins of Producers”

The market faces challenges from volatile raw material costs, especially petrochemicals and additives. Fluctuating costs strain manufacturers' margins and undermine production economics. The unpredictable price dynamics make financial planning difficult, hampering investment and growth. To mitigate these issues, manufacturers can optimize supply chains, find alternative suppliers, and hedge against price volatility.

The industry can also reduce its exposure by cultivating long-term supplier relationships and implementing cost-reduction strategies. Not only the availability and prices of raw materials but also competition from other alternatives such as phenolic resin and multifunctional resin, pose a significant hurdle to industry growth.

Country-wise Insights

Increased production of plastic trash in North America is a prominent element that is projected to drive market growth during the forecast period. Key factors driving the market in the region include the presence of significant players in the industry, wide availability of raw materials, and extensive adoption of sophisticated technologies. East Asia is estimated to account for 36.5% calendering resin market share.

What Makes China a Key Market for Calendering Resin Producers?

“Rising Need for Packaging Solutions in Food and Beverage Industry”

Attribute	China
Market Value (2024E)	US$ 2.13 Billion
Growth Rate (2024 to 2034)	5.3% CAGR
Projected Value (2034F)	US$ 3.57 Billion

China is estimated to hold 56.9% share of the East Asia market in 2024. The market in the country is projected to expand at a steady pace through 2034. The food and beverages industry is a major end user of packaging solutions because of the shifting dietary patterns in the country, which is in turn driving demand for calendering resins. Growing industrialization is also helping boost the application of calendering resins across diverse industries.

Which Calendering Resin Market Trends are Benefitting Producers in the United States?

“Need for Lightweight Materials in Vehicle Manufacturing and Rising Demand for Packaged Food”

Attribute	United States
Market Value (2024E)	US$ 2.1 Billion
Growth Rate (2024 to 2034)	5.1% CAGR
Projected Value (2034F)	US$ 3.47 Billion

In the United States, the construction industry is a primary consumer of calendering resins for flooring, roofing, and waterproofing applications. The market is exhibiting growth due to increasing infrastructure projects and urbanization. The automotive sector in the United States extensively uses calendering resins for both interior components and exterior parts. As the demand for lightweight and durable materials in vehicle manufacturing rises, so does the demand for calendering resins.

Apart from the automotive sector, the packaging industry in the United States heavily relies on calendering resins due to the increasing demand for packaged food, alongside the rising trend of online shopping through e-commerce platforms. The versatility and cost-effectiveness of calendering resins are expanding their applications across various industries in the United States.

Category-wise Insights

Furniture and furniture trims, automotive, food and beverages, electrical and electronic components, building and construction materials, and healthcare and medical are among the application segments of the calendering resin market. Calendering resins are used to create surface coatings for furniture and other objects that require a bright finish and hardness. They also offer other advantages, such as being non-toxic and ecologically friendly.

What is the Role of Calendering Resins in Electrical and Electronics Manufacturing?

“Superior Insulation Properties of Calendering Resins Ensuring Safety of Components”

Attribute	Electrical & Electronics
Segment Value (2024E)	US$ 2.39 Billion
Growth Rate (2024 to 2034)	5.5% CAGR
Projected Value (2034F)	US$ 3.88 Billion

Calendering resins provide superior electrical insulating qualities. They act as a protective coating over different electrical components, preventing electrical leakage and ensuring safe functioning. Calendering resins are essential for maintaining electrical integrity in applications such as printed circuit boards (PCBs), generators, transformers, circuit breakers, and motor assemblies.

These polymers efficiently protect electrical components against possible problems such as short circuits and voltage breakdown. They are used in the production of protective coverings and insulating tapes for electrical gadgets.

Why are Calendering Resins Extensively Used in the Building and Construction Industry?

“Growing Emphasis on Energy-Efficient Construction”

Attribute	Building & Construction
Segment Value (2024E)	US$ 1.18 Billion
Growth Rate (2024 to 2034)	4.2% CAGR
Projected Value (2034F)	US$ 1.91 Billion

Under the application segment, the building and construction segment accounts for 11.5% market share in 2024. The building and construction industry is significantly contributing to the expansion of the calendering resin market size. Calendering resins are used for roofing, wall covering, and flooring applications. The focus on the use of energy-efficient and innovative materials is further boosting sales and applications of calendering resins in this industry.

Competitive Landscape

The market is fiercely competitive, with key competitors seeking more market share through product innovation, mergers and acquisitions, and global growth. Key players in the calendering resin market include 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., and LG Chem Ltd.

• 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.

Segmentation of Calendering Resin Market Research

• By Product Type :

  • PVC
  • PET
  • PETG

• By Application :

  • Furniture & Furniture Trims
  • Automotive
  • Food & Beverages
  • Electronics & Electrical
  • Building & Construction
  • Healthcare & Medical

• By Region :

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa