Rigid Plastic Packaging Market Outlook to 2025: Top Manufacturer Analysis, Industry Overview and Forecast Report

Posted on 2020-04-13 by researchinsights in Industrial // 0 Comments

13^th Apr 2020 – The Global Rigid Plastic Packaging Market is subject to witness a substantial growth due to the soaring need for environment friendly and sustainable packaging solutions. Metal composites of aluminum, steel and plastic grades like polyethylene terephthalate (PET) & polyethylene (PE), glass, and paper are adopted for various packaging applications.

Rapid industrialization in BRICS economies such as Brazil, Russia, India, China and South Africa is expected to stimulate market growth of rigid packaging in the upcoming years. Globally, the market is predicted to grow at CAGR of 5.57% in the forecast period providing numerous opportunities for market players to invest for research and development in the rigid plastic packaging market.

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The recent technological advancement in the manufacturing sector coupled with development of advanced packaging solution are anticipated to boost market growth over the forecast period. In addition, growing manufacturing sector in South East Asian economies such as Singapore, South Korea, Taiwan and Malaysia is projected to escalate the growth of the market in the upcoming years. Rigid plastic packaging are largely utilized in various manufacturing and retail applications. Increasing adoption of the rigid plastic packaging materials is credited to their lightweight and eco-friendly nature, thus rocketing the demand of rigid plastic packaging market, in recent years.

Additionally, metal, glass and paper can be easily recycled for multiple use due to their flexibility. These factors drive the demand for rigid plastic in the packaging sector. Other factors such as ease of use, simple operation and cost-effectiveness are complementing market growth in the recent years. Paper & paperboard and glass packaging is biodegradable thus limiting environmental hazards. Paper and glass packaging is an ideal substitute for plastics in the packaging & manufacturing sector. These factors are largely influencing the market growth thus creating lucrative opportunities for industry players during this period.

Furthermore, increasing consumer awareness about environmental hazards with excessive use of plastic and complete ban on the use of the lightweight plastic materials in few countries are expected to amplify the growth of metal and paper packaging over the forecast period. Improved financial condition and growing concerns regarding environmental hazards among developing and developed economies are anticipated to escalate market value of rigid plastic packaging industry in near future.

Leading Players Analysis

OKI
ALPLA Werke
Amcor
Bemis
Berry Plastics
Silgan Holdings
RPC
Coveris
Graham Packaging
Greiner Packaging
Plastipak
Printpack
Resilux
Pactiv
Winpak

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The market is divided by region such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the growing demand form from various manufacturing industries, strict government laws & regulations to promote environment friendly packaging solutions, and existence of well-established manufacturing sector in the region.

Asia-Pacific region is predicted to hold major market share in the rigid plastic packaging market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rapid industrialization, ever-growing population, rising number of manufacturing units and substantial investment by leading industry players considering potential opportunities in the region.

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