The market is expected to generate an incremental $ opportunity of US$ 10,132.2 Mn between 2022 and 2032
Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00193 Format: PDF Pages: 300
Global Barrier Resin Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Barrier Resins Market was worth US$ 1,39.87.0 Mn and is expected to grow at a CAGR of 5.6% over the forecast period. The market has shown extensive growth as compared to the CAGR of 4.7% during the period 2017-2021. The market is expected to hit US$ 2,41,19.2 Mn by 2032 end.
Barrier resins are used to cover up anything that will be packaged (especially food). In recent years, awareness regarding health has risen quite well. For that reason, consumers want to consume packaged food that is less harmful.
And in food packaging, the barrier resins play a vital role. Medical, textile, and polythene industries in this sector and many more industries needed them.
DEMAND FOR BETTER& SAFE PACKAGING DRIVES THE MARKET
The growth of advanced manufacturing processes supported by technological innovation and increased consolidation of players has led to the invention of several drugs that directly boost the pharmaceutical packaging industry. This boost has fueled the growth of barrier resins globally. Barrier resins such as PVDC and EVOH are primarily used to protect pharmaceutical products such as sachets, bottle drug labels, and extrusion packaging against light, moisture, oxygen, biological contamination, mechanical damage, and counterfeiting.
VOLATILE RAW MATERIAL IS HAMPERING THE MARKET
These resins are made from diesel, natural gas, mono-ethylene glycol, and petroleum. These materials are too volatile. The unpredictable nature of the raw materials is pulling back the market growth because high-rated production is not possible till now for the evaporative nature of these raw.
Market Segments Covered in Report
By Nature Type:
By Composition Type:
By Region and Country:
Why is the food & beverages sector expected to have a larger market share during the projected period?
According to the study, barrier resins are neutral to the sunlight and other atmospheric conditions; and
It protects the subjected material or substances from any environmental contamination. Moreover, it does not react to hot food. The food delivery companies depend on these resins for their easy availability and low cost.
Developing countries have a high consumption of packaged foods, which has generously expanded the barrier resin market premium. Extended working life higher tendency toward packaged foods instead of fresh foods have driven the market.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
Market participants are improving their supply chains to remain competitive. The competitive landscape section includes key development strategies, market share analysis, and international market positioning analysis of the competitors.
Some of the key developments that have taken place in the Barrier Resins Market include:
A list of some of the key suppliers present in the market are:
Global Barrier Resins Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||Nature Type, Composition Type, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|