Tie Layer Resin Market Analysis

Tie Layer Resin Market Analysis

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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.
 

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.
 

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.
 

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.