Tie Layer Resins Market: Overview
Tie layer resins are the form of polyolefins, which are modified chemically and are used as extrudable adhesives in coating operations or in co-extrusion to bond different materials together. Tie layer resins are ideal for manufacturing multilayer structures with unique properties, which can be produced to combine key properties of each type of material. Tie layer resins can be used in a variety of applications, such as extrusion blown, coating, blow molding, cast film, extrusion lamination, sheet, thermoforming and other specialty processes. Depending upon the material demand composition of tie layers, resins are calculated as per the resin matrix. The demand for tie layer resins in the plastic industry is rising continuously owing to the demand for high performance materials for various end-use applications. As a result, market for tie layer resins has lucrative opportunities in the coming years.
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Tie Layer Resins Market: Dynamics
The global tie layer market is primarily driven by the food and packaging industries across the globe. Tie layers resins have excellent clarity and high adhesion to ethylene vinyl alcohol copolymer and multilayer packaging for fresh food items. On the backdrop of increased demand for packaging films for food & beverages industries along with ongoing fourth industrial transformation, increased adoption of smart resin mix technologies and growing reliance on PE and EVOH are factors contributing to the optimistic outlook of the tie layer resins market during the forecast period.
Tie Layer Resins Market: Segmentation
Global tie layer resins market can be segmented by resin type, by application, by end-use industries and by region. On the basis of resin type, the global tie layer resin market is segmented by reactive resins and non-reactive resins. On the basis application, the global tie layer resins market is segmented by extrusion, blow molding, adhesion & extrusion lamination, thermal lamination and others. With the rapid growth in the packaging sector has significant effect on the tie layer reins, owing to the increasing production of high adhesion resins in the present market. On the other hand, rising demand for durable resins for co-extrusion processes is also anticipated to increase the demand for tie layer resins across the industries.
Tie Layer Resins Market: Regional Outlook
The global tie layer resins market can be segmented with respect to the regions: North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA (Middle East and Africa). East Asia is expected to have a significant market for tie layer resins owing to the rising demand for packaging for food & beverages sectors. After East Asia, South Asia is the second largest market for tie layer resins owing to the requirements for advanced and sustainable technologies for high performance materials for packaging. Latin America market for tie layer resins is also surging at a considerable rate due to regulations regarding food packaging. With overall development of tie layer resins across the globe, end-use applications will continue to create enormous opportunities for the market over the coming years.
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Tie Layer Resins Market: Key Players
Prominent players in the global tie layer resins market are LyondellBasell, Mitsui Chemicals America, Inc., DowDuPont, Westlake Chemical Corporation, Arkema S.A, and other players. The global players are expected to strengthen their market positions by offering loyalty schemes and competitive prices. Several small-sized players also have a presence in the tie layer market globally.
Tie Layer Resins Market: Competitive Landscape
The global market for tie layer resins is consolidated in nature owing to the presence of small number of players in the market. The global tie layer resins market has lucrative opportunities for new entrants, which will cater to competitiveness in the product offerings and also leads to the reduction in prices of the products.
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