Future Market Insights
It is almost 50 years of research and development that has made plastics and polymers an extensively used product for the packaging applications worldwide. The polymers and plastics have several useful attributes such as low cost, flexibility, transparency or clarity, ease of transportation and a good shelf appeal. Still, the foremost application for the food & beverage industry is supplying goods which are safe and fresh to the consumers. This often involves good manufacturing practices right from the production to the eventual consumption of these goods.
When food products are left in open atmosphere, they react with oxygen and form by-products which hamper the properties of the product. Barrier resins belong to the polymer group. As they act as an unbreakable barrier to oxygen, they are most widely used by the packaging division for the packaging of perishable food and eatable products. Furthermore, the use of these barrier resins in packaging structures limit the passage of flavour, odour permeation and oxygen. Barrier resins can be extruded into bottles, sheets, films which are effective and economical for the storage of goods and the life of the products is also increased considerably. Also, barrier resins offer better thermal stability when manufactured and designed under appropriate processing conditions. The high barrier properties of the barrier resins, even after their extended usage, has allowed barrier resins to deliver up to 50 percent moisture barrier improvement over conventional technology.
EVOH (Ethylene Vinyl Alcohol) is a copolymer formed from vinyl alcohol and ethylene and is the most commonly used barrier resin in the market presently. EVOH is easily co-extruded from all types of polyamides, polyolefins and other polymers with the use of standard extrusion equipment. EVOH is a hydrophilic substance, hence it must be thoroughly dried before extrusion processing. The scrap produced after the co-extrusion process is usually recycled as layers in bottle and sheet applications. It can also be recycled after post-consumer use. The market is estimated to grow for Barrier Resins as these products can be recycled even after extended usage by consumers and industries. Moreover, the fact that these barrier resins can be moulded and used in almost all shapes and sizes will also fuel the growth of the Barrier resins market in near future.
Barrier Resins Market dynamics:
Growth in the consumer packaged goods (CPG) and fast-moving consumer goods (FMCG) -- these are the products that are sold quickly and relatively at a low cost -- is anticipated to support the growth of the barrier resins market. Moreover, the growth in the pharmaceutical packaging division in developing countries and the improved shelf life of packaged eatables and beverage products achieved through the use of barrier resins is further driving the growth of the barrier resins market. The growing consumer awareness about healthy purchasing and increasing preference for fresh food products with proper packaging is the most important driver for the barrier resin market. Rapid urbanization and increased life of processed food products with the use of barrier resins is driving the food packaging market, which in turn, is the main driving factor for the barrier resins market. Barrier Resins Market has a lot of scope in research and development division since the researchers and the scientists are coming up with new polymers which are more efficient and economical. The market for the Barrier Resins is anticipated to grow at a healthy CAGR in coming future. Furthermore, the growing applications of packaging in all industrial and commercial sectors is expected to propel the growth of the Barrier Resins market in near future.
Barrier Resins Market segmentation:
Barrier Resins can be segmented on the basis of type of chemicals and applications.
By Product type, the barrier resins market can be segmented into:
On the basis of applications,the barrier resins market can be segmented into:
Barrier Resins: Regional Outlook:
Barrier Resins can be divided into seven different geographical regions/divisions -- North America, Latin America, Western and Eastern Europe, Asia-Pacific Excluding Japan (APEJ), Japan, Middle East and Africa. The North America and European countries have presence across all industrial and commercial sectors, alongside the existence of globally prominent players, which is a boon for the Barrier Resins market in these regions. The rapid industrialization in the Asia pacific region, especially in China and India, is estimated to fuel the growth of the Barrier Resins market. The use of barrier resins is becoming easier and economical owing to the new inventions and advances being made in technology. Therefore, it is expected that the Barrier Resins market will see rapid growth in all the developed and developing countries in future.
Barrier Resins: Market Participants
Some of the market participants in the Barrier Resins market are:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.