Overview and Scope
Barrier resins refer to plastics that are used in packaging to prevent the penetration of gases, vapors (water or solvent), or liquids. Barrier resins are plastics used in packaging to prevent the passage of gases (oxygen, carbon dioxide, and nitrogen), vapor (water or solvent), or liquid.
Sizing and Forecast
The barrier resins market size has grown strongly in recent years. It will grow from $3.64 billion in 2023 to $3.88 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to rise in demand for food packaging, rise in consumer awareness about food safety, regulatory compliance, growth of the pharmaceutical industry, market globalization.
The barrier resins market size is expected to see strong growth in the next few years. It will grow to $5.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to e-commerce growth, increasing demand in the agriculture sector, growing packaging industry, rise in disposable income. Major trends in the forecast period include digital printing on barrier packaging, antimicrobial barrier coatings, biodegradable barrier resins, recyclable barrier materials, high-barrier films.
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Segmentation & Regional Insights
The barrier resins market covered in this report is segmented –
1) By Packaging Type: Flexible Packaging, Rigid Packaging
2) By Resin Type: Polyvinylidene Chloride, Ethylene Vinyl Alcohol, Polyethylene Naphthalate, Polyamide, Polyethylene Terephthalate, Polyethylene, Polypropylene, Polyvinyl Alcohol, Other Resin Types
3) By Application: Food And Beverage, Pharmaceutical And Medical, Cosmetics, Agriculture, Industrial, Other Applications
Asia-Pacific was the largest region in the barrier resins market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the barrier resins market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
An increase in demand for the longer shelf life of food products is contributing to the growth of the barrier resins market. There has been an increasing demand for food products with a longer shelf life. Barrier resins are used in the food and beverage packaging industry to protect packed goods from moisture and to prevent gas penetration. They provide enhanced shelf life and consistency and prevent odours and UV rays from entering the container, thus protecting the vitamin content of the food. In UAE-based FMCG company Truebell saw a threefold increase in demand for long-shelf-life products. The company saw an increase in the popularity of long-shelf-life food products and baking ingredients, along with an increase in the consumption of home-cooked meals. Thus, the growth in demand for a longer shelf life of food products will drive the growth of the barrier resins market.
Key Industry Players
Major companies operating in the barrier resins market include Kuraray Co. Ltd., The Dow Chemical Company, Tenjin Limited, Asahi Kasei Corporation, Solvay International SA, E.I. du Pont de Nemours and Company, Nspec Ethylene Oxide and Specialities, LyondellBasell Industries NV, Honeywell International Inc., Mitsui Chemicals Inc., LG Chem Ltd., INVISTA Textiles UK Ltd., Chang Chun Petrochemical Co. Ltd., Mitsubishi Chemical Corporation, Valspar Corporation, Saudi Basic Industries Corporation, Borealis Ag, China Petroleum & Chemical Corporation, Braskem S.A., Hanwha TotalEnergies Petrochemical Co. Ltd., NOVA Chemicals Corporation, EVAL Europe N.V, Zhejiang Juhua Co. Ltd., Toray Industries Inc., Mitsubishi Gas Chemical Company Inc., Elion Technology Co. Ltd., Kureha Corporation, Kuraray America Inc., Eastman Chemical Company, Exxon Corporation., Chevron Phillips Chemical Company LLC, Berry Global Inc., Sealed Air Corporation, Amcor Limited, Bemis Company Inc., Sumitomo Chemical Co. Ltd., Daikin Industries Ltd.
The barrier resins market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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