Tie Layer Resin Market - By Base Resin (LLDPE, LDPE, HDPE, EVA, PP), By Application (Flexible Packaging, Rigid Packaging, Compounding), By Resin Type (Reactive, Non-reactive) & Forecast, 2022-2030

Industry Overview

Tie Layer Resin Market size was valued at more than USD 8 billion in 2021. Due to its increased usage in multi-layered packaging, the industry is projected to grow at a CAGR of over 5% through 2030.
 

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Tie layer resin (TLR) is primarily used in multi-layer packaging. It is also used as a barrier resin that can increase the product’s shelf life. Multi-layer packaging is increasingly used in the meat, food, and pharmaceutical industries, thereby fueling product demand. Packaging is a key area of application of tie resins and its demand is poised to increase over the coming years with the rising consumption of packaged food products across the world.
 

Robust characteristics of LLDPE to increase the market size

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In terms of the base resin, the tie layer resin market is bifurcated into LLDPE, LDPE, HDPE, EVA, PP, and others. The LLDPE segment is set to be valued at over USD 5 billion by 2030. This can be attributed to the robust characteristics of LLDPE-based resins. These resins are increasingly used in automotive tank gases and the packaging sector, which is driving the market statistics. Furthermore, LLDPE resins have adhesive properties, such as better dimensional stability, adhesiveness, and strength. With such wide-ranged properties, these resins are replacing the LDPE and EVA resins and contributing significantly to overall market progress.
 

Surging usage of reactive resins in food packaging to expedite industry growth

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Considering the resin type, the tie layer resin market is segmented into reactive and non-reactive resins. The reactive resin segment will hold a significant market share of more than 60% by 2030. Anhydride Modified Polyethylene (AMP) is a widely used and adopted reactive TLRs. This tie-layer resin is primarily used when polyamides, such as EVOH (ethylene vinyl alcohol copolymers) or polyamides (Nylons) need to be linked to polyolefins. EVOH is utilized in food packaging as it offers efficient barrier characteristics against moisture, oxygen, nitrogen, and other environmental elements, which is driving product demand.
 

Robust properties of rigid packaging to accelerate industry expansion

Application-wise, the tie layer resin market is divided into rigid packaging, flexible packaging, composites, and others. In 2021, the rigid packaging segment exceeded a valuation of USD 2 billion and is anticipated to exhibit a CAGR of over 5% through 2030. TLRs have key properties, such as barrier properties, crack resistance, flexibility, and toughness, as well as cold and heat characteristics, which enable them to be used in rigid packaging applications, including multi-layered containers for medicines, pesticides, milk, and juices.
 

Growing demand for flexible packaging in North America to expedite regional market expansion

North America  tie layer resin market will hold a 16% share in the global industry by 2030. Growing product demand for flexible packaging will be responsible for regional market demand. Additionally, surging agricultural exports will augment industry uptake over the stipulated timeframe. Moreover, the soaring online grocery sales channels will witness significant product adoption in packaging materials. Citing an instance, in 2020, the U.S. digital grocery channels witnessed a 42.6% rise in buyers, which in turn benefited tie layer resin consumption.
 

Surging business activities by prominent players to define the industry landscape

Some key players involved in the tie layer resin market include LyondellBasell, Mitsui Chemicals, Exxon Mobil, Eastman Chemical, DuPont, The Dow Chemical Company, Arkema, Westlake Chemicals, Mitsubishi Chemical, and Addivant. Prominent players are actively involved in strategic business activities to expand their footprint. For instance, in July 2022, Arkema improved its position in the South African adhesive business with the acquisition of Permoseal. With this move, Arkema’s presence in the construction, industrial, and DIY markets in Sub-Saharan Africa and South Africa was intended to be reinforced through its popular brands, such as Alcolin, and a wide range of high-performance adhesive solutions.
 

Impact of COVID-19 on tie layer resin market trends

The COVID-19 pandemic impacted a variety of industries, including the food packaging sector. Meat packaging was severely affected by the outbreak in the short term, which caused some consumer shortages. Simultaneously, there was an increase in demand for fast-food outlets. With the closure of outdoor activities, such as concerts and sporting events, the demand for food packaging declined, which impacted product utilization for making multi-layered packaging and in effect, the tie layer resin industry growth. However, with the resumption of outdoor activities, the demand for packaged food will witness an upward trend and in turn propel the market share.
 

The tie layer resin market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2018 to 2030 for the following segments:

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By Base Resin

• LLDPE
• LDPE
• HDPE
• EVA
• PP
• Others

By Product Type

• Reactive
• Non-reactive

By Application

• Flexible Packaging
• Rigid Packaging
• Compounding
• Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE