Polymer Resin for Packaging and Oil & Gas Market is predicted to reach USD 249,101.5 million at a CAGR of 6.32% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Polymer Resin for Packaging and Oil & Gas Market”.

The polymer resin for packaging and oil & gas market is estimated to register a CAGR of 6.32% during the forecast period of 2024 to 2030.

MRFR recognizes the following companies as the key players in the global polymer resin for packaging and oil & gas market—

Borealis AG, BASF SE, Evonik Industries AG, LyondellBasell Industries N.V, Shell Plc, Solvay, Roto Polymers, Dow Chemical Company, Nan Ya Plastics Corp, Saudi Arabia Basic Industries Corporation, Celanese Corporation, INEOS Group, and Exxon Mobil Corporation

Market Highlights

The global polymer resin for packaging and oil & gas market accounted to register a CAGR of 6.32% during the forecast period and is estimated to reach USD 249,101.5 million by 2030.

With the development of technology and increased environmental consciousness, the packaging industry has grown. The global packaging market is expanding steadily, with established markets showing a moderate rate of growth. On the other hand, the most recent expanding markets are creating the most recent prospects for potential expansion rates. Packaging is a technology that encloses and safeguards diverse product types for use, distribution, sale, and storage. Plastic is thought to be more cost-effective and to perform better. It provides environmental benefits like trash reduction and energy savings because it is a recyclable material.

The growth of plastic packaging is primarily being driven by the expansion of several important application areas, such as personal and home care, medicines, food and beverage, and the increasing penetration of e-retail globally. Due to the fact that polymer resin offers hard and flexible, lightweight, and transparent types of packaging, essential industries including food and beverage, household & personal care, and industrial choose it as a replacement over alternatives like glass or metal. Additionally, designed plastic demonstrates the capacity to withstand harsh weather conditions and not break down in harsh temperatures, protecting the integrity of goods like cosmetics and food and drink. Furthermore, plastic is a profitable packaging material due to its low cost and high printability. Due to their performance advantages and sustainability, extrusion-based packaging materials such wraps & films, pouches, and bags are frequently used in the nation's consumer as well as industrial applications. The substantial share of plastic packaging demand in the U.S. has been significantly influenced by the widespread high penetration of organised retail. Over the past few years, the packaged food and beverage industry has experienced rapid growth on a global scale. The demand for packaged food is anticipated to increase dramatically as a result of expanding economic activity in emerging economies, changing lifestyles, growing urban populations, and a greater penetration of e-retail globally.

The e-commerce industry's rapid expansion is also probably going to create new opportunities for market expansion. To cut the cost of shipping, e-commerce businesses favour flexible and lightweight packaging options. The sector is anticipated to rise as online shopping for everyday fresh foods, FMCG goods, electrical devices, and clothes increases. Additionally, greater opportunities for plastic packaging are anticipated in the upcoming years due to the growing introduction of cutting-edge packaging solutions including active packaging, modified environment packaging, edible packaging, and bioplastic packaging.

Therefore, extrapolating all of these variables, it is reasonable to anticipate that the packaging industry will have strong growth during the anticipated time period, complementing the expansion of the polymer resin for packaging and oil & gas market.

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Segment Analysis

The global polymer resin for packaging and oil & gas market has been segmented based on type, application, and Region.

In the type segment, the market is categorized as Polyethylene, Polypropylene, and Others. Out of which the polyethylene segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well. In the oil & gas industry, polyethylene's demand is fueled by its application in pipes and infrastructure. Polyethylene pipes are favored for their corrosion resistance, flexibility, and ease of installation, which are crucial for transporting gas and fluids over long distances. The material's durability under extreme environmental conditions and resistance to chemicals and abrasions make it ideal for use in harsh operational environments. Furthermore, the growing investments in infrastructure development and modernization of aging pipelines in many regions drive the demand for polyethylene. The increasing exploration and production activities, particularly in emerging markets, also contribute to its demand.

In the application segment, the market is categorized as Packaging and Oil & Gas. The packaging segment is further sub-segmented into Bottles, Cups & Containers, Bags & Pouches, Films & Wraps, and Others while the Oil & gas segment is sub-segmented into Pipelines, Coatings, Equipment Parts, Seals, and Others. Out of which the packaging segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well. The versatility and design flexibility of polymer resins enable manufacturers to create innovative packaging solutions that meet diverse consumer demands. These resins can be molded into various shapes and sizes, facilitating unique and practical packaging designs that enhance product appeal and consumer convenience. Features such as re-sealable closures, flexible pouches, and tamper-evident seals are made possible through the use of polymer resins, improving user experience and product functionality.

Regional Analysis

By Region, the polymer resin for packaging and oil & gas market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia Pacific polymer resin for packaging and oil & gas market holds a considerable market share during the forecast period. In the packaging sector, the shift towards urban lifestyles in Asia Pacific region has significantly increased the demand for convenient, ready-to-eat, and packaged food products. Urban consumers prefer packaging that offers ease of use, extended shelf life, and safety, driving manufacturers to adopt advanced polymer resins. Additionally, the growth of e-commerce in the Asia-Pacific region has escalated the requirement for robust and reliable packaging materials that can withstand the rigors of shipping and handling, further increasing the demand for polymer resins.

Key Findings of the Study

• The global polymer resin for packaging and oil & gas market is expected to reach USD 249,101.5 million by 2030, at a CAGR of 6.32% during the forecast period.


• The Asia Pacific region accounted for the fastest-growing global market.


• Based on Application, the packaging application segment was attributed to holding the largest market in 2023.


• Borealis AG, BASF SE, Evonik Industries AG, LyondellBasell Industries N.V, Shell Plc, Solvay, Roto Polymers, Dow Chemical Company, Nan Ya Plastics Corp, Saudi Arabia Basic Industries Corporation, Celanese Corporation, INEOS Group, and Exxon Mobil Corporation are the key market players.