Barrier Materials Market size estimated to hit $2.50 billion by 2021

Barrier Materials Market size estimated to hit $2.50 billion by 2021
Barrier Materials Market
Barrier Materials Market

According to the report, the global barrier materials market was valued at USD 1.70 billion in 2014 and is expected to generate revenue of USD 2.50 billion by end of 2020, growing at a CAGR of 7.0% between 2015 and 2020. In terms of volume, the global barrier materials market stood at 121.83 kilotons in 2014. Zion Market Research has published a new report titled “Barrier Materials Market by Type (PEN, PVDC, EVOH, and Others) for Agriculture, Pharmaceuticals, Food & Beverage Industry and Others Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.”

Material that plays important role in packaging process to avoid contamination is known as the barrier material. This material helps to protect and prevent various elements such as water, air, bacteria, dirt, dust, radiation, and heat present in product’s surrounding. In developed countries, the government implements regulations and policies for maintaining the state and quality of food material. This material maintains the quality of the product and provides longer durability in such scenario.

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The barrier materials market is primarily driven by growing demand from flexible packaging industry. Barrier materials are in demand for various end products packaging as it offers resistance and high flexibility. Shifting preference towards canned and tetra packaging is likely to accelerate the demand for barrier materials. However, stringent rules and regulations may impede the growth of the market. Moreover, growing demand for bio-based barrier materials is likely to offer new opportunities to the major participants of the market.

Market segmented on the basis of material type into PEN, PVDC, EVOH, and others. In 2014, PVDC was the one of major the segment which had dominance over the other segments. It accounted for more than 40% share of the market.

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EVOH is especially used for food and beverages packaging because it is highly flexible and sustainable. It maintains the hygiene, temperature, and moisture required for food products. Therefore, it is expected to propel the growth of the market on account of growing food and beverage industry.

Agriculture, pharmaceuticals, food and beverages industry and others are the key applications for the global barrier materials market. Food and beverages are the foremost application that accounts around 45% share of the total volume consumed in 2014. Growing demand for packed food and beverages especially in developed regions is expected to fuel the demand for barrier materials. Hence, food and beverages packaging industry segment are expected to remain to prolong application during the years to come. However, the pharmaceutical industry is also expected to witness splendid growth due to increasing health issues across the globe.

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With the largest share, Asia Pacific was a leading regional market for barrier materials in 2014. Further, it is expected to continue this trend due to the changing dynamics such as urbanization coupled with rising disposable income. Emerging countries like China, India, and Japan is foreseen to trigger the growth of barrier materials market during the forecast. North America and Europe is expected to have remarkable growth during the years to come.

Some of the key players of the global barrier materials market include Asahi Kasei Chemicals Corporation, Chang Chun Petrochemical Co., Ltd, the Dow Chemical Company, E. I. Du Pont de Numerous and Co., Solvay SA, Kuraray Co., Ltd and Teijin Limited amongst others.