Some of the major players operating in the tie layer resin industry are LyondellBasell, Mitsui Chemicals, Exxon Mobil, Eastman Chemical, DuPont, The Dow Chemical Company, Arkema, Westlake Chemicals, Mitsubishi Chemical, and Addivant.
SELBYVILLE, Del., Sept. 14, 2022 /PRNewswire/ -- The Tie Layer Resin Market is anticipated to be worth over 12 billion by 2030, according to a new research report by Global Market Insights Inc.
Tie layer resins are used in the automotive industry for coextruded plastic fuel tanks for lightweight, fuel-efficient, and affordable vehicles, which is driving industry growth. TLRs are effective in building blocking laminates and tie layers that offer high-quality finishes on visible surfaces of fiber-reinforced composites in molds, marine composite materials, water park composites, and acrylic spa pool moldings. The presence of a broad-spectrum applicability range will foster the product demand through 2030.
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Rising adoption of bio-based tie layer resin to result in lucrative market growth opportunities
The bio-based TLRs are made using renewable feedstocks instead of non-renewable petroleum precursors. This packaging is eco-friendly, lighter, renewable, and more sustainable than conventional TLR packaging. For instance, Yparex, a tie-layer resin supplier for various applications, has unveiled a bio-based adhesive TLR. Consistent and innovative business strategies undertaken by companies will create massive growth potential for the tie layer resin market demand.
Robust properties of EVA to bolster product demand
In terms of the base resin, the EVA segment is set to be valued at over USD 950 million by 2030. The segment growth is backed by the robust characteristics of EVA, including malleability, lower temperature, and flexibility. Lower-level EVA resins are used for creating harder, flexible films whereas higher EVA level resins are primarily used as soft, flexible adhesives, which is further stimulating market statistics.
Growing adoption of non-reactive TLRs to bolster industry expansion
Based on resin type, the non-reactive tie layer resin market will reach USD 4.5 billion in revenue by 2030. This can be credited to the thermal stability of ethylene vinyl acetate (EVA), which allows it to be used for applications such as molding, extrusion coating, films, pipe profile extrusion, and blow molding, among others. As per the report, the segment may account for 35% of the industry share by 2030.
Browse key industry insights spread across 320 pages with 418 market data tables & 20 figures & charts from the report, "Tie Layer Resin Market Size By Base Resin (LLDPE, LDPE, HDPE, EVA, PP), By Application (Flexible Packaging, Rigid Packaging, Compounding), By Resin Type (Reactive, Non-reactive), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2022 - 2030" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/tie-layer-resin-market
Increased demand for wood plastic composites to propel market trend
Application-wise, the compounding segment will account for 16% of the tie layer resin market share by 2030. The segment growth can be credited to the rising usage of TLR as a coupling agent for nylon modification and for producing wood-plastic composites. Wood-plastic composites can withstand decay, mold, and rot in comparison to wood, which is a vital factor augmenting industry landscape.
Surging usage in the automotive industry to stimulate APAC market expansion
Asia Pacific tie layer resin market will hold a dominant share of 50% by 2030. This share can be credited to the growing adoption of these resins in the automotive sector. TLRs are used to make multi-layer fuel tanks that reduce weight and increase the flexibility of vehicles. Increasing disposable income of consumers, coupled with the rising demand for fuel-efficient vehicles, will drive APAC industry forecasts.
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Acquisitions from prominent players to propel industry outlook
Top contenders operating 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.
About Global Market Insights
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