Shaping Sustainable Packaging: Trends in the Rigid Plastic Industry 2024-2030

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Shaping Sustainable Packaging: Trends in the Rigid Plastic Industry 2024-2030

Aishwarya Bhasme

17 Jan 2024 • 234 Views

Rigid Plastic Packaging Market size was valued at USD 215.45 Billion in 2023 and the total revenue is expected to grow at a CAGR of 4.9 % from 2024 to 2030, reaching nearly USD 301.14 Billion by 2030.

Rigid Plastic Packaging Market Overview:

The Rigid Plastic Packaging market is witnessing a dynamic shift driven by evolving industrial demands and technological advancements. As industries increasingly prioritize the enhancement of metal properties such as corrosion resistance, durability, and aesthetics, the Rigid Plastic Packaging sector plays a pivotal role in meeting these requirements. Key players in the market are continually innovating to develop cutting-edge surface treatment solutions that not only meet stringent industry standards but also address environmental concerns. The growing emphasis on sustainable and eco-friendly practices has led to the development of novel Rigid Plastic Packaging techniques that minimize the use of hazardous substances. This market evolution reflects a broader industry commitment to achieving a balance between performance, longevity, and environmental responsibility in metal finishing processes.

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Rigid Plastic Packaging Market Scope:

The scope of the Rigid Plastic Packaging market is expanding as industries recognize the crucial role played by surface treatments in enhancing the performance and longevity of metal components. With applications ranging across various sectors such as automotive, aerospace, electronics, and construction, the market is witnessing a surge in demand for advanced metal finishing solutions. The escalating need for corrosion-resistant coatings, improved conductivity, and aesthetic appeal is propelling the growth of the Rigid Plastic Packaging sector. Moreover, the advent of innovative technologies and processes is broadening the scope by offering tailored solutions to meet the diverse requirements of different industries. As manufacturers seek to optimize their production processes and meet stringent quality standards, the Rigid Plastic Packaging market is poised for continued expansion, driven by advancements in materials science and a growing awareness of the benefits of high-quality surface treatments.

Rigid Plastic Packaging Market Segmentation:

The growing need for convenient and eco-friendly packaging options is driving the growth of the bottles and jars segment, which holds a significant market share in rigid plastic packaging. The food and beverage, cosmetics, and healthcare industries are major contributors to the growth of this segment, which has made it a dominant one. Rigid bulk products are important players in the market, catering to industries that need sturdy packaging on a bigger scale. Their robustness and protective qualities place them in a key role in protecting large quantities, making them a lucrative market.

The market is significantly impacted by the extrusion process, especially when it comes to the production of films, sheets, and profiles. It is a prominent player in the rigid plastic packaging market because of its affordability and adaptability in producing a range of packaging formats. Injection molding is widely used for complex and detailed packaging components because it is effective in large quantities and provides material flexibility. Its prominence makes it a booming segment and adds to the market's diversity. Blow molding is especially common in the bottle and container industry and offers benefits like lightweight designs and cost effectiveness.

Demand for bioplastics is higher as sustainability becomes more and more important. This environmentally friendly material meets the needs of consumers and businesses who care about the environment, which has a big impact on the growth of the rigid plastic packaging market. Bioplastics represent a burgeoning industry with enormous market potential. PE is a highly versatile and durable material that finds extensive use in a wide range of packaging applications. It is particularly prevalent in bottles, containers, and films. PET is becoming a more popular bottle material, especially in the beverage industry because of its recyclable, lightweight, and clear nature. PET is the market leader in terms of segment share. PS, which has insulating qualities and is frequently used in packaging, is utilized in trays, cups, and other disposable items. In the market for rigid plastic packaging, PS is a rising category.

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Rigid Plastic Packaging Market Key Players:

Secondary research is used to identify market Rigid Plastic Packagingers, while primary and secondary research is used to establish market revenue. Secondary research comprised a review of the Rigid Plastic Packaginging manufacturers' annual and financial reports, whilst primary research included thorough interviews with key opinion Rigid Plastic Packagingers and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are used to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then validated using primary sources.

The biggest players in the Rigid Plastic Packaging market are as follows:

Major Global Key Players:
1. Tetra Pak International S.A. (Switzerland) - Global Presence
2. Sealed Air Corporation (United States) - Global Presence
3. Reynolds Group Holdings Limited (New Zealand) - Global Presence
4. Bemis Company, Inc. (United States) - Global Presence
5. Coveris Holdings S.A. (Luxembourg) - Global Presence

Leading Key Players in North America:
1. T Amcor plc (Australia)
2. Berry Global Group, Inc. (United States)
3. Ball Corporation (United States)
4. Sonoco Products Company (United States)
5. Silgan Holdings Inc. (United States)

Market Follower key Players in Europe:
1. RPC Group Plc (United Kingdom)
2. ALPLA Werke Alwin Lehner GmbH Co KG (Austria)
3. Gerresheimer AG (Germany)
4. Constantia Flexibles Group GmbH (Austria)
5. Coveris Holdings S.A. (Luxembourg)

Prominent Key player Asia Pacific:
1. Toyo Seikan Group Holdings, Ltd. (Japan)
2. Huhtamaki Oyj (Finland)
3. Cosmopak Pty Ltd (Australia)
4. Zhuhai Zhongfu Enterprise Co., Ltd. (China)
5. UFlex Limited (India)

Leading key player in Middle East Africa:
1. Nampak Limited (South Africa)
2. Saudi Basic Industries Corporation (SABIC) (Saudi Arabia)
3. PACCOR (Germany) - has a significant presence in the Middle East
4. ALPLA Werke Alwin Lehner GmbH Co KG (Austria) - with operations in Africa
5. BWAY Corporation (United States) - operates in the Middle East

Growing Companies in South America:
1. Graham Packaging Company (United States) - operates in South America
2. Plásticos Novel S/A (Brazil)
3. Rigolleau S.A. (Argentina)
4. Greif, Inc. (United States) - has a presence in South America
5. Embalagens Flexíveis Flexoprint Ltda. (Brazil)

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Rigid Plastic Packaging Market Regional Analysis:

Individual market influencing components and changes in market legislation that affect current and future market trends are also covered in the Rigid Plastic Packaging market study's regional overview. Current and future trends are investigated in order to analyze the overall market potential and find profitable patterns in order to get a more firm footing. The geographical market evaluation is based on the current environment and anticipated trends.

COVID-19 Impact Analysis on Rigid Plastic Packaging Market:

End-user industries where Rigid Plastic Packaging are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Rigid Plastic Packaging manufacturers, affecting the Rigid Plastic Packaging market's growth in 2020. End-user business demand for Rigid Plastic Packaging has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.

Key Questions Answered in the Rigid Plastic Packaging Market Report are:

In 2021, which segment accounted for the most share of the Rigid Plastic Packaging market?
What is the competitive landscape of the Rigid Plastic Packaging market?
What are the key factors influencing Rigid Plastic Packaging market growth?
In the Rigid Plastic Packaging market, which region has the most market share?
What will be the CAGR of the Rigid Plastic Packaging market during the forecast period (2022-2027)?

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Aishwarya Bhasme

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