Rigid Plastic Packaging Market valued at US $221.01 Billion in 2022 is anticipated to reach a value of US $3908.10 Billion in 2030, growing at a CAGR of 43.2%.
Plastics are high molecular weight organic compounds made up of a wide variety of synthetic organic compounds that are malleable and may be moulded into a variety of shapes. Packaging is a technology that encloses and safeguards diverse product kinds for usage, storage, distribution, and sale. Petroleum and its derivatives are used to create plastic packaging materials, which have a wide range of applications across numerous end-use industries. Due to their great durability, light weight, low cost, and recyclable nature, plastic bottles find extensive use in the food and beverage, pharmaceutical, and cosmetics industries. PET is utilised as the main feedstock in the production of these bottles. These elements support the expansion of the plastic packaging market.
Strong investment prospects for international firms are anticipated as a result of the market's technological and product advances. The industry is anticipated to face the biggest restrictions from regulations and structural rules. The main obstacles are high input costs and environmental concerns, whilst the urgent problems are anticipated to be shifting demand patterns and the development of alternative technologies.
The globally affecting coronavirus has severely impacted all enterprises and manufacturing firms. The market for rigid plastic packaging has been significantly impacted by extended lockdowns and disturbed supply chains. Manufacturers have faced difficulties as a result of the COVID-19 outbreak's decreased production of stiff plastic material for packaging.
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Segmental analysis of the Market:
Based on Material
- Polyethylene (PET)
- Polypropylene (PP)
- High density polypropylene (HDPE)
- Others
Based on Production Process
- Extrusion
- Injection Molding
- Blow Molding
- Thermoforming
- Others
Based on End User
- Food Beverage
- Personal Care
- Household
- Healthcare
- Others
Competitive Landscape
Some of the prominent companies operating in the market are
- ALPLA-Werke Alwin Lehner GmbH Co KG
- Amcor Limited
- DS Smith Plc
- Berry Plastics Corporation
- Klöckner Pentaplast
- Plastipak Holdings, Inc.
- Pactiv Evergreen Inc
- Sealed Air Corporation
- Silgan Holdings, Inc.
- Sonoco Products Company.
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Major questions answered in this report
- What is the growth rate of the Global Rigid Plastic Packaging Market?
- What are the primary growth determinants of the market?
- Which are the major regions constituting the geographical landscape of the market?
- Which are the prominent companies operating in the market?
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