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Tie Layer Resin Market size to exceed USD 12 Billion by 2030

  • Published Date: September 12, 2022

Tie Layer Resin Market is estimated to be valued at over USD 12 billion by 2030, as per a new research report published by Global Market Insights Inc.

Multi-layer composite pipes are utilized for a variety of applications, such as potable water, and heating. The outside portion of the tube is made using polyethylene, which gives solidity and strength to the pipe. Furthermore, the composite pipes can sustain higher temperatures, is cost-effective, easy to install, and the aluminum layer inside the pipe offers a barrier from oxygen, thereby preventing corrosion. The growing consumption of multi-layer composite pipes will thereby drive the layer resin industry statisitcs.

Broad application range of LDPE-based resin to augment industry demand

According to base resin, the tie layer resin market is bifurcated into LLDPE, LDPE, HDPE, EVA, PP, and others. The LDPE-based resin segment is projected to register a valuation of USD 2.5 billion by 2030. LDPE resins have high bubble stability and low meting index and are often deployed in blown film applications. These resins are also used in cast and sheet applications. In addition to the LLDPE- and EVA-based TLRs, LDPE resins are also utilized for packaging applications as they are odorless and tasteless, which increases the shelf life of the product.

Growing demand for flexible packaging to stimulate market forecasts

In terms of application, the industry is divided into rigid packaging, flexible packaging, compounding, and others. The flexible packaging application segment will account for a 49% share in the tie layer resin market by 2030. This high market share can be credited to the growing demand for flexible packaging across varied industrial verticals. TLR is used for flexible packaging in foods, especially in meat and cheese, for its characteristics viz., heat resistance, aroma resistance, oxygen barrier characteristics, and moisture resistance. Additionally, escalating living standards of consumers across the world have enabled people to prefer packaged food owing to its long shelf life, thus bolstering the demand for tie layer resins.

Rising applicability of non-reactive resins to stimulate market expansion

Based on resin type, the tie layer resin market is fragmented into reactive and non-reactive resins. The non-reactive TLR segment is expected to depict a CAGR of 5% through the forecast period. Ethylene vinyl acetate (EVA) and ethylene methyl acrylate (EMA) are some non-reactive tie-layer resins. EMA has thermal stability and hence, finds usage in a variety of applications, such as molding, extrusion coating, films, pipe profile extrusion, and blow molding, which will support segmental demand in the years ahead.

Booming food & beverage sector in Europe to stimulate industry outlook

Based on region, the Europe tie layer resin market will capture a share of more than 19% in the global industry by 2030. The market growth will be driven by the proliferating food & beverage sector in the region. In 2021, the European food & beverage sector was valued at nearly USD 11,326 million. Additionally, the growing demand for office stationery products will significantly enhance the regional market dynamics.

Strategic acquisitions from key players to define the market landscape

Some of the 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. Companies are undertaking strategic acquisitions that reinforce their business footprint.

Authors: Kiran Pulidindi, Hiralkumar Patel