New York, United States , Jan. 31, 2024 (GLOBE NEWSWIRE) -- The Global Barrier Resins Market Size to Grow from USD 3.1 Billion in 2023 to USD 4.7 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.25% during the forecast period.
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Barrier resins are essential in industries such as food and beverage, pharmaceuticals, and healthcare for protecting objects from external influences such as moisture, oxygen, and other gases. This not only ensures that the contents are fresh and effective, but it also corresponds with the rising emphasis on environmentally friendly packaging practices. As packaging technology advances, so does the demand for complex materials. Barrier resins are on the cutting edge of innovation, providing solutions to industries such as food and beverage, pharmaceuticals, and healthcare.
Barrier Resins Market Value Chain Analysis
The value chain begins with suppliers who supply the raw materials needed to manufacture barrier resins. Polymer resins, additives, and other materials may be used. Following that are the companies that make barrier resins. This includes polymerization processes, formulation, and R&D to improve the barrier properties of the resins. The barrier resins are subsequently delivered to the package manufacturers. These companies use resins to make various packaging materials such as films, bottles, and containers. The packaging materials are then transported to converters, who shape and personalise them into final package items. Such operations include printing, moulding, and extrusion. Food producers and pharmaceutical companies, for example, include barrier resin-based packaging into their products.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Barrier Resins Market Size By Product (PVDC, EVOH, PEN, Software), By Application (Food And Beverage, Pharmaceutical, Cosmetic, Agriculture), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033."
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Insights by Product
The software segment accounted for the largest market share over the forecast period 2023 to 2033. Packaging software might include design tools, supply chain management systems, quality control software, and even product lifecycle management solutions. These software applications aid in the efficiency, design, and general management of the packaging process. Quality control is crucial in the packaging industry for satisfying regulatory standards and guaranteeing product safety. Monitoring and management of packaging materials and operations is aided by quality control software.
Insights by Application
The food and beverage segment accounted for the largest market share over the forecast period 2023 to 2033. The food and beverage industry faces perishability issues. Barrier resins help to extend product shelf life, reduce food waste, and improve overall supply chain efficiency. The demand for imaginative and simple packaging solutions is driving the use of barrier resins. Manufacturers are using these materials to create packaging that not only ensures product safety but also meets consumer demands for simple-to-use and environmentally responsible solutions. E-commerce growth in the food and beverage business necessitates robust packaging solutions. Barrier resins help to produce packaging materials that protect products during transportation and handling in the e-commerce supply chain.
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Insights by Region
North America is anticipated to dominate the Barrier Resins Market from 2023 to 2033. The area's significant manufacturing and packaging industries contribute to the market's size, which is expected to increase further due to technological advancements and changing client demands. In North America, barrier resins are in high demand in the food and beverage, pharmaceutical, healthcare, and other industries. The demand for novel packaging solutions that enable extended shelf life and product protection will rise as these industries develop. The performance of the Barrier Resins Market is dependent on economic stability and the strength of North America's industrial sector. Economic factors can influence R&D investment, production capacity, and overall market dynamics.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. Asia Pacific is a manufacturing powerhouse, and the region's fast industrialization has significantly increased demand for barrier resins. The demand for new packaging solutions, particularly those comprising barrier resins, grows in tandem with the expansion of manufacturing operations. The growing middle-class population in many Asia Pacific countries leads to increased buying power and a shift in consumer choices. Sophisticated packaging solutions are in high demand as consumers seek items with a longer shelf life and higher quality. The expansion of e-commerce in Asia Pacific has boosted demand for safe and long-lasting packaging. Barrier resins play a significant role in safeguarding product integrity during transit, which adds to market growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Key Vendors in the Global Barrier Resins Market Size Include Solvay, Dow Chemical, INEOS, Kuraray, Teijin DuPont Films, Asahi Kasei, ChangChun Group, INVISTA, KUREHA CORPORATION, LG Chem, MITSUBISHI GAS CHEMICAL, The Nippon Synthetic Chemical Industry, Valspar and Other Key Vendors.
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Recent Market Developments
- In June 2021, Dow Chemicals revealed a mass-balance strategy to developing revolutionary polyurethane solutions based on a circular feedstock obtained from a waste product of the transportation sector, which will replace virgin fossil-fuel-based feedstock.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Barrier Resins Market, Product Analysis
- PVDC
- EVOH
- PEN
- Software
Barrier Resins Market, Application Analysis
- Food And Beverage
- Pharmaceutical
- Cosmetic
- Agriculture
Barrier Resins Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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