Barrier Resins Market Anticipated for Progressive CAGR Growth During 2017-2027
One of the key drivers for barrier resins stems from the need for high-performance barriers in packaging. Barrier protection is essential in flavor preservation and in maintaining the freshness of food. One of the key industries where the drive is prominent is the food industry, which is benefitting from ethylene-vinyl alcohol (EVOH) copolymers. In this regard, EVOH as barrier resins is gathering steam in flavor-sensitive foods including refrigerated foods in developed countries. Demand for barrier resins for coffee is a case in point, as producers and packaging companies aim to keeping aroma intact. They are gathering demand in the packaging of chilled beverages. There is a popular demand for barrier films that meet coextrusion and coinjection requirements. Moreover, the use of barrier resins helps in steering the sensitive food products away from harmful oxygen and moisture, and provides barrier against organic solvents. These functions appear as key propositions in packaging consisting of multilayer structures. The barrier resins market is also benefitting from the drive of packaging companies to reduce the materials used. The trend is especially noticeable in the packaging horizontals of medical, pharmaceutical, and cosmetics.
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Exciting prospects in the barrier resins market will be unlocked by the efforts to make barrier resins recyclable and renewable. For instance, the recycling of these resins must not emit toxic emissions or metal residues harmful to the ecology. An important factor here is easy energy recovery from the waste. Development of such barrier resins has gathered steam on account of reducing the environmental footprint of packaging in the industries of food, medical, and pharmaceutical.
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.
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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:
- Agricultural Industrial
- Chemical Industries
- Food & Beverage
- Personal Care & Cosmetics
- Pharmaceutical & Medical
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:
- NOVA Chemicals Corporation
- Valspar Corporation
- Mitsui Chemicals, Inc.
- EVAL Europe N.V
- Honeywell International, Inc.
- The Dow Chemical Company
- Kuraray Co., Ltd
- Asahi Kasei Corporation
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