K-Resin Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1771
K-Resin Market size will grow at a consistent pace during the forecast time frame. The material is a styrene butadiene copolymer. Its various grades are used in extrusion blow molding, film extrusion, heat molding and injections. It is known as transparent material of remarkable brilliance. The compound is recognized for its unique combination of clarity, stiffness and exceptional gloss. It provides good cycle time and design flexibility in various products such as toys, hangers and medical application.
Upsurge in food packaging industry by over 3% annually will accelerate the k-resin market. It is widely adopted in food packaging for product clarity, gloss and durability to meet customer demand. Its wide application in candy twist wrap, single food services and packaging increases its demand in packed food industry. The product is harmless to humans as polymerization process used in formulating the product is very effective at monomer utilization, thus residual monomer level is quite limited, that eliminates any possibility of health hazard.
Pharmaceutical industry is anticipated to grow over 10% in the forecast period. The product is highly used in medical devices and protects them from accidental breakage. The routine breakage can be time consuming, expensive and hazardous, the product identifies it accurate content and condition. Easy process ability of the compound, provides design versatility, and thermal stability that permits recycling of scrap and gives tested biological performance.
Supply chain of k-resin market starts with chemical laboratory, after its formulation it is transported to various locations for its usage. The major customers of the product are pharmaceutical, toys, and packed food industries.
Restrains of k-resin market are the limitation on the product usage. It is not preferable for all the medical devices, certain applications demand higher chemical and stress crack resistance, that is unbearable for the product. Many devices have fixtures attached to PVC tubing which if directly contacts with the product can have various range of effects such as swelling, stress whitening, to complete dissolution of the part.
The k-resin market is segmented into types that include KR01, KR3, KR10, KR11, KR52, KR53, KR5, KR38 and KR40. Industries using the resin include pharmaceuticals, toy and packed food.
Various applications in these industries include food packaging, medical devices, labeling, twist, shrink film and flooring system.
North America, led by US is world’s most recognized pharmaceutical industry. It contributes over 40% in the global pharmaceutical industry. It hosts major companies that are contributing in the medical industry on a global basis. The product is widely used in medical devices to prevent it from accidental breakage. Flourishing pharmaceutical industry will surge the k-resin market simultaneously in the forecasted time frame. Europe will register a decent growth in the k-resin market. Convenience plays a vital role in consumption pattern, busy work schedule and changing lifestyle has boosted the packed food industry. Growing packed food industry is further contributing in the k-resin market. The product is used in packaging of food materials that provide longer shelf life and clarity to the packed food. MEA, led by Niger will depict noticeable growth in k-resin market. The country has the highest birth rate of over 6% that has increased the demand for toys in the country.
Prominent manufacturers in k-resin market are Kamdar Plastics, Chevron Philips Chemicals, INEOS Styrolution, Amco International, Lanzhou Qianmiaonuo Trading Company, Xinle City Hongyuan Carbon Black sales center, B.K Plant, Shanghai Tankii Alloy Material Co. Ltd., China MK group and HongKong Baijin International Trading Co.Ltd. INEOS Styrolution acquired Chevron Philips Chemicals, the acquisition was to offer a broad selection of SBC products customers across the world. The company wanted to strengthen itself to offer various kinds of product and to follow triple growth strategy.
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