Rigid Plastic Packaging Market Size 2020 - OverviewPosted by sagark on March 27th, 2020 Rigid Plastic Packaging Market Size Overview The global Rigid Plastic Packaging Market Size is projected to garner a CAGR of 5.6% over the forecast period between 2017 and 2023. The market is driven by factors like the increasing innovation in rigid packaging and the surging consumption rate of processed foods & beverages. Add to this, the high disposable income of individuals across developing nations is slated to further accelerate the Rigid Plastic Packaging Market Size. However, the fluctuating nature of the raw material pricing and concerns related to recycling and environment can be major hindrance to the overall growth of the market. Competitive Landscape The global Rigid Plastic Packaging Market Size includes several key players, including
Industry News May 24th, 2019, Consolidated Container Company made an announcement of acquiring the assets of Sonic Plastics Enterprises. The company mentioned that the experience of the former company in producing packaging for health, nutraceutical, and beauty industry will enable them to offer its customers with new and distinctive packaging solutions. Market Segmentation The global Rigid Plastic Packaging Market Size segmentation is based in terms of material, manufacturing, product, and application. By material, the market segments into Polyvinyl Chloride (PVC) Polyethylene Terephthalate (PET), Bio plastics, Polyethylene (PE), and others. The polyethylene segment holds the highest share of the global market and as per the report published by MRFR the segment is anticipated to be the fastest-growing market segment. It has been observed that most end-users use low-density polyethylene (LDPE) for rigid plastic packaging. LDPE holds several benefits like barrier to moisture, ease of processing, flexibility, strength/toughness, and ease of sealing. PVC, on the other hand, is a dense material which is a highly common material in India, especially when clarity is vital criteria of selection for consumer packaging. By manufacturing process, the market comprises injection molding, extrusion, and others. The injection molding segment is the highest share holder of the market as it is the most commonly used process of manufacturing for the fabrication of plastic parts. It is primarily preferred due to the low production waste it generates and the faster-rate of production it offers. Regional Analysis The global Rigid Plastic Packaging Market Size is regionally segmented into the following geographies: North America, Asia Pacific, Europe, and the Rest of the World (RoW). The Asia Pacific region holds the dominant share percentage in the global Rigid Plastic Packaging Market Size. The region is anticipated to grow at the fastest pace during the forecast period primarily due to the presence of India, Japan, and China. These countries are global leaders when it comes to exporting different good items worldwide. Add to this, the surging industrialization and rate of urbanization in developing nations like India and China is also pushing the growth of the market. North America stands second in the global Rigid Plastic Packaging Market Size standings and is expected grow at a consistent pace in the coming years. Elsewhere, the Latin America and the Middle East & Africa regions under the Rest of the World (RoW) segment are also expected to experience high growth rate during the forecast period. Get Full Report With Complete TOC @ https://www.marketresearchfuture.com/reports/rigid-plastic-packaging-market-4973 Like it? Share it! More by this author |