.jpg?width=2000&height=400&name=D01_TGC_Frost%20Radar_Polymers%20for%20Packaging_2500x500_092524_JY%20(1).jpg "Competitive Benchmarking: Frost Radar™ for Packaging Plastics, 2024")
How are top companies in the packaging plastics industry integrating sustainability to maximize their success?
The perception of plastics is undergoing a positive shift, as consumers increasingly recognize their potential as a sustainable material, especially given their high recyclability. This evolving customer preference has ignited a renewed era of disruptive technologies and business model transformation within the packaging plastics industry.
Today, major polyethylene (PE), polypropylene (PP), and polyethylene terephthalate (PET) producers are making significant investments to expand production capacity and meet rising demand. Leading manufacturers are also prioritizing sustainability by investing in chemical and organic recycling technologies and implementing eco-friendly processes to support food-grade packaging requirements. Similarly, strategic alliances between producers and feedstock suppliers are catalyzing greener alternatives like bioplastics.
Despite the emerging growth opportunities, key industry leaders are finding it challenging to respond effectively to increasing competitive intensity in packaging plastics. However, they can leverage perspectives from this Frost Radar™ to build an optimal strategy that will set them up for sustained growth.
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| Growth Scenario Revealed: Packaging Plastics | ||
|---|---|---|
| Polyethylene (PE) | Polyethylene Terephthalate (PET) | Polypropylene (PP) |
- Global revenue: $19.12 billion
|
- Global revenue: $31.82 billion
|
- Global revenue: $15.12 billion
|
Which strategic imperatives are reshaping the packaging plastics industry?
Innovative Business Models
To reduce waste and support sustainable packaging practices, companies are embracing business models focused on refillable and reusable solutions. From deposit return schemes to at-home refill stations, these innovations are driving a shift toward zero-waste packaging systems.
Geopolitical Chaos
Global polymer supply is being influenced by geopolitical events such as the Russo-Ukraine conflict and economic shifts in Europe. Companies are setting up local manufacturing and mapping regulatory shifts as political climates evolve due to many countries undergoing national elections in 2024.
Industry Convergence
Partnerships between plastics producers and food packaging companies are building synergy across the value chain, particularly in areas like bioplastics and alternative feedstocks, which are gaining momentum in the sustainability drive.
Is your company poised to leverage these strategic imperatives for success in the packaging plastics domain?
Frost Radar™ is an advanced analytical tool designed for a thorough ‘Growth Audit’ across industries, assessing key companies based on crucial innovation and growth criteria. Our aim is to help clients drive innovation and accelerate growth. Leverage this unique benchmarking tool to significantly enhance your future growth potential.
Frost & Sullivan has identified the top 14 companies excelling in growth and innovation in the packaging plastics industries, across the PE, PP, and PET segments.
Companies on the Frost Radar™: Borealis AG, Braskem S.A., Chevron Phillips Chemical, ExxonMobil Corporation, Formosa Plastics Corporation, INEOS Group Limited, LyondellBasell Industries N.V., Mitsui Chemicals Inc., Reliance Industries Limited, SABIC, SCG Chemicals, The Dow Chemical Company, TotalEnergies SE, Versalis.
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