Published: Aug, 2018
The global market for barrier resins shows a highly competitive landscape due to the presence of large number of small payers in the market challenging the prominent players in the market, as analyzed by Transparency Market Research (TMR). The increasing demand for packaged products over the non-packaged products will boost the market for barrier resins market. However, increasing concerns related to packaged food products that take long time to reach the potential customer may deteriorate its freshness. There the barrier resins are used that helps in preventing permeation of oxygen and retain flavor of eatables. Some of the key players in the barriers resins market are Asahi Kasei Corporation, Honeywell International Inc., Invista, Mitsubishi Gas Chemical Inc., E.I.DU PONT DE Nemours and Company, Kuraray Co. Ltd., The Dow Chemicals Company, Solvay S.A, and INEO Group Ltd.
According to the TMR analysis, the barrier resins market is estimated to expand at a 4.4% of CAGR during the forecast period starting from 2017 to 2025. The market valuation is expected to grow up to US$ 3.9 bn by the end of 2025, which was US$ 2.7 bn in 2016. On the basis of application, the food and beverage segment led the market by holding 54.8% shares. Additionally, medical and cosmetic and personal care segment is also expected to increase evidently because of various development-taking place in them. As per the regional analysis, North America lead the market with highest number of shares in the global barrier resins market as of 2016.
Growing Demand for Packaged Food to Boost the Market
Globally packaged food products are highly preferred among the huge population. Manufactures are making continuous efforts to keep the flavor of the food content intact during the process of transportation, until it reaches the final consumer. Sealing materials and food grade packaging are being widely used by the manufactures to preserve the packaged food from degrading. Additionally, manufactures have reduced usage of polyvinyl chloride (PVC), which has also significantly benefited the market. Moreover, increasing preference for high quality packaged food will further boost the demand for barrier resins market. The increasing food and beverage segment also denotes the high use of packed food among the increasing population that will further grow the barrier resins market globally.
Developed Nations to Maintain their Dominance in Barrier Resins Market
Developed nations have high consumption of packaged food that significantly increased the demand for barrier resins market. Increased work life, higher preference towards packaged food rather than non-packaged food, and rising awareness for healthcare have helped the barrier resins market to experience high growth prospects during the forecast period. North America is the leading region followed by Europe for the barrier resins market globally. Moreover, emerging economies are also showing high preference towards packaged food, which will create additional revenue for the barrier resins market in coming years.
The information presented in this review is based on a TMR report, titled “Barrier Resins Market (Material Type - Nylon, EVOH, and PVDC; Application - Food & Beverage, Medical, Cosmetics & Personal Care, Chemical Industry & Agriculture) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”
The Global Barrier Resins Market is segmented based on:
Global Barrier Resins Market Segmentation: By Material Type:
Global Barrier Resins Market Segmentation: By Application Type:
- Food & Beverage
- Cosmetics and Personal Care
- Chemical Industry
Global Barrier Resins Market Segmentation: By Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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