Worldwide Barrier Resins Market to 2028: Promising Demand from Packaging Industry

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Feb 11, 2023, 10:30 ET

DUBLIN, Feb. 11, 2023 /PRNewswire/ -- The "Barrier Resins Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Polyvinylidene Chloride (PVDC), Ethylene Vinyl Alcohol (EVOH), Polyethylene Naphthalate (PEN)), By Application, By Region, and Competition" report has been added to ResearchAndMarkets.com's offering.

The Global Barrier Resins Market is projected to grow at an impressive rate through 2028. In September 2022, the production volume of processed paper and cardboard in China was approximately 11.1 million metric tons.

Companies Mentioned:

Asahi Kasei Corporation
Chang Chun Petrochemical Co. Ltd.
Du Pont de Nemours
Honeywell International, Inc.
Mitsui Chemicals Inc.
LG Chem
Teijin Limited
The Dow Chemical Company
The Nippon Synthetic Chemical Industry Co., Ltd
Kuraray Co., Ltd

However, the main challenges facing the market for barrier resins are rising prices, tight regulatory requirements, environmental regulations, and political standards. The demand for Barrier Resins is also anticipated to increase during the projected period as more application sectors choose sustainable packaging solutions due to regulatory restrictions.

The market for barrier resin is expanding as consumers desire food goods to last longer on the shelf. The demand for food goods with extended shelf lives has been rising. In food and beverage packaging, barrier resins seal out gases and protect items from moisture.

They give the food a longer shelf life and better consistency, shield it from UV radiation and odors, and safeguard the food's nutrient content in the process.

Promising Demand from Packaging Industry

The global market for barrier resin is segmented into various application categories; however, demand for packaging from food and beverage is a promising driving factor. The packaging of food and drink items such as meat, fish, beer, wine, carbonated soft drinks, and canned milk is the main application of resin in this industry, which is the largest.

Barrier resins are used in food and beverage packaging to protect vitamin content, increase shelf life, and improve food quality. They also stop odor and UV light penetration.

There is a greater need for packaging due to growing urban populations, increasing demand for FMCGs, pharmaceuticals, and other consumer durables, and developing health and hygienic packaging issues.

Due to its capacity to provide creative solutions to numerous packaging problems, the packaging is in high demand. IBEF adds that one of the most significant industries in the nation is food processing, which generates 70% of its revenue from retail and accounts for 32% of the country's overall food market while ranking fifth in production, consumption, and exports.

Growing Technological Advancement for Sustainable Development

Many plants, particularly coniferous trees, naturally contain resin. Resin is a viscous substance that often transforms into polymers in polymer chemistry. Such dense compounds can be naturally occurring, manufactured, or plant derived. Resins are often blends of organic substances. Creating more ecologically friendly barrier resins is one of the significant trends in barrier resin technology.

This is because conventional barrier resins are made using potentially hazardous petroleum-based materials. Environmentally friendly barrier resins are produced in various forms, including those derived from plant-based substances. During the predicted timeframe, sustainability tendencies are expected to increase. Because of how plastic is made, sustainability will always be a challenge.

However, recycling, and other development streams will help to balance out such sustainability concerns. For instance, the Coca-Cola European partners promised to recycle 50% of the plastic used in PET bottles by 2025 and to collect all packaging in Western Europe. In the European region, PepsiCo declared a long-term goal of using 50% recycled plastic in its bottles by 2030 and a short-term target of about 45% by 2025.

Market Segmentation

By Type:

Polyvinylidene Chloride (PVDC)
Ethylene Vinyl Alcohol (EVOH)
Polyethylene Naphthalate (PEN)

By Application:

Food & Beverage
Pharmaceutical & Medical
Cosmetics
Agriculture
Others

By Region:

North America
United States
Canada
Mexico
Europe
France
Germany
United Kingdom
Italy
Spain
Asia-Pacific
China
India
Japan
Taiwan
South Korea
Australia
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
Turkey
Egypt

For more information about this report visit https://www.researchandmarkets.com/r/1fj0sf-resins?w=5

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SOURCE Research and Markets