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Global Peelable Seal Resin Market Size, Growth, Analysis, Trends and Forecast to 2030
Peelable Seal Resin market grew at a promising rate in the past few years and is anticipated to grow at a CAGR of 5.02% during the forecast.
Peelable Seal Resins are made from one or more polymeric resins providing functional diversity such as controllable heat seal strength for easy peeling and works perfectly with PE, PP, PS, PVC, CPET, Aluminum and Epoxy. These are also processable by blown and cast film and extrusion coating as well as offers steady and sustained performance across a variety of substrates in the peel market. Peelable seal resins are categorized into different grades such as Ethyl Methyl Acrylate (EMA), Polybutene, Ethylene Vinyl Acetate (EVA). Among these, EMA and Polybutene based peelable seal resins are preferred predominantly. Peelable resins are mostly utilized as sealants in lidding films for containers to preserve packaged products. Hence, the market for Peelable Seal Resins is driven by the Packaging sector as they provide convenience, safety as well as reduced packaging forces and is anticipated to grow at significant rate in the forecast period.
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Peelable Seal Resin is also gaining popularity as a substitute to synthetic lacquer coatings as during processing there is a negligible emission of volatile organic compounds. On the basis of end use, Peelable Seal Resin market is segmented into Film to tray, Film to Paperboard, Film to Film, Film to Paper and Film to Foil. Among these, Film to Tray followed by Film to Film accounted for the dominant share in the market. Despite the covid crisis in the first half of 2020, a slight effect was witnessed in the demand of Peelable Seal Resin demand due to the strong demand from packaging industry. Packaging industry observed a significant growth in recent years due to the inclination toward e-commerce as well as rising demand of packed food, consequently driving the global market for Peelable Seal Resins.
Major players for Peelable Seal Resin globally include Lyondell Basell Industries Ltd, Arkema Functional Polymers, Dupont Packaging & Industrial Polymers, Mitsubishi Chemicals, Yashura Chemical Company Ltd.