MARKET OVERVIEW- GLOBAL BARRIER MATERIALS MARKET
Barrier materials are plastic coatings or multilayer combinations intended to minimize the diffusion of water and gas into and out of a flexible or rigid package. The EVOH, PVDC, PEN, PP, and PE are some of the examples of the barrier materials. These materials are effective against nitrogen, water vapors, oxygen, carbon dioxide, light and aroma compounds, and preserve the quality of the packaged products. Also, these materials are transparent and flexible and can be used in packaging applications in industries such as the food and beverage, pharmaceutical, and cosmetic industry. The market for barrier materials is on the rise as they have been widely adopted in numerous applications on account of their unique properties such as thermal stability, long shelf life, and high-performance levels. Moreover, barrier materials finds its applications in individual moisture barrier packing, air barrier packing, and vapor barrier packing applications. Thus increased adoption of barrier materials in applications such as food ingredients, dried food, resins, pharmaceuticals and cosmetics, automotive coatings, pigments and animal feed is further improving the market growth at rapid pace.
A surge in the demand for packaged food products increases the demand for barrier materials for food packaging applications. Food is an integral part of daily life. Sustainability, counterfeit protection, efficiency, convenience, traceability, and flexibility are some of the main parameters associated with packaging solutions. For consumers, sustainable and easy-to-use packaging is becoming a priority now than ever before. Thus, factors such as growing demand of the consumer for packaged food owing to changing eating habits and improving lifestyle, high disposable income of the consumers, increasing population, demand for high quality and natural food with increased shelf life are propelling the growth of the market. Moreover, factors such as a surge in the demand for blister packaging and drug delivery systems, growing technological advancements, adoption of new regulatory standards and increased health awareness, and increasing demand for primary pharmaceutical packaging are again impelling the growth of the market.
The need for barrier films in the food and beverage industry is increasing, which will boost the market growth in the upcoming years. The expansion of packaged food items has been assisted by changes in lifestyle and increased expenditure on healthy and nutritious food. Also, growing food safety awareness and technological improvements towards the creation efficient and bio-based barrier material is expected to create lucrative opportunities for the market.
However, rising packaging costs will hinder market expansion, and rigorous health regulatory compliance standards, environmental regulations, and political norms are likely to constrain market expansion for packaged items as a whole.
MARKET GROWTH CHALLENGES
The Covid-19 pandemic hampered the growth of the market to a major extent, which has created a major challenge for market growth. In the upcoming years, bridging the gap between raw material supply and demand and preventing goods are expected to be the main challenge in the market.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of barrier material market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With rising demand for packaged food products increases the demand for barrier materials for food packaging applications is fuelling the growth of the market and is expected to witness the growth at a CAGR at specific CAGR from 2021-2028.
BARRIER MATERIALS MARKET SEGMENTAL OVERVIEW
The barrier material market comprises of different market segment like category, type, industry and geography.
BARRIER MATERIALS MARKET BY CATEGORY
By category, the barrier material includes key segment of
- High Barrier
- Moderate to Low Barrier
High barrier are expected to dominate the market over the forecast period. The difference between these segmentations are indicatively based on the outcome of the barrier properties on the shelf life of the packaged products. The factors such as increased use of these high, moderate and low barrier materials in various end-use industries for applications such as flexible packaging, barrier coating and lamination, surge in the demand for high barrier packaging materials and increasing production of these materials are attributed to the growth of market.
BARRIER MATERIALS MARKET BY TYPE
By type, the barrier material includes key segment of
- Ethylene Vinyl Alcohol
- Polyvinylidene Chloride
- Polyethylene Naphthalate
Aluminum is anticipated to lead the market, gaining the majority of the market share in 2021, and is expected to maintain its dominance over the estimated time period. Increasing application of aluminium in packaging applications mostly in food, pharmaceutical, and cosmetics, and surge in the use of aluminium as a barrier material owing to its several benefiting properties are major contributing factors behind the market growth.
BARRIER MATERIALS MARKET BY INDUSTRY
By industry, the barrier material includes key segment of
- Food and Beverage
Food and beverage are expected to dominate the market over the forecast period. Increased production and consumption of various food products such as dairy products, meat products, fruits and vegetable, and many other beverages, a surge in the demand for healthy, processed, and packaged food products, rising adoption of food products by online shopping method during COVID-19 pandemic, and growing awareness of the consumers regarding health are key benefiting factors behind the growth of the market.
BARRIER MATERIALS MARKET BY GEOGRAPHY
By geography, the barrier material includes key segment of
- North America
Asia Pacific is likely to hold the dominant position and is also expected to be the fastest growing regional market in global barrier materials market during the forecast period owing to improving lifestyle of the people, rising industrialization and urbanization, rising expenditure on nutritious and healthy products, increasing population, rapid growth in the automotive industry in economies such as China and India in the region.
COVID-19 IMPACT ANALYSIS ON GLOBAL BARRIER MATERIALS MARKET
Covid19, drastically affects the world supply chain and industrial sector growth. At the initial stages of the pandemic, the world experienced, ‘supply shocks’. China who plays a major role in the world’s supply chain was severely affected. There were disruptions to the availability of goods supplied from China. Supply of both finished and unfinished goods reduced. Day by day as the situation worsened, quarantines, social distance practices were imposed and nations begun instituting lockdowns. Following this the supply chains experienced demand shocks. The shutdown of economic activities affected all the sectors. Manufacturing and mining industry’s sluggish growth in turn affected the barrier materials market.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of barrier materials market is majorly focused on expanding the global growth of barrier materials market with new product innovation, business expansion, increasing presence of range of manufacturer operating in the market has led the growing demand for the market. Besides, the market offers range of products to fulfil the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
- Kuraray Co., Ltd
- The Dow Chemical Company
- Solvay S.A
- Chang Chun Petrochemical Co., Ltd
- DuPont de Nemours, Inc.
- Kureha Corporation
- Asahi Kasei Corporation
- Teijin Limited
- Nippon Synthetic Chem Industry Co., Ltd.
- Zhejiang Juhua Co., Ltd
- Mondi Group plc
- Toppan Printing CO. Ltd