iCrowdNewswire Jan 28, 2021 5:00 AM ET
The global barrier films market is forecast to reach USD 36.88 Billion by 2026, according to a new report by Reports and Data. Barrier films are materials used for the packaging of goods. These goods need to be protected not only from contaminants like gas and moisture but also insects and spillage. They also offer insulation and offer certain properties like their lightweight nature, robust build, and uncompromising effect on the substrate. They are flexible and printable and hence makes them available for a wide array of applications.
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Leading Players Profiled in the Report Include:
3M, Honeywell International Inc., Eastman Chemical Company, Alcan Packaging, Fraunhofer-Gesellschaft, Centre for Process Innovation Limited, Beneq, Toppan Printing Co. Ltd., Sigma Technologies Int’l. LLC, and General Electric Company, among others.
The market for barrier films is influenced by the rising demand for convenient food products, the evolution of environment friendly chemicals required by food and beverage industries, and development of packaging industries, which require large protective films. Apart from edibles, these packaging products are used in pharmaceutical industries and for toiletries. They are also in high demand from the agricultural industry where the transportation of goods is very important.
The afore-mentioned factors collectively create drivers for the market growth while factors such as derogatory effects of barrier films pose limitations in the market. These unfavorable factors include the susceptibility to deformation and degradation, along with the inconsistent market prices for raw materials used in production. These factors bring in restraints for the market growth, which are being overcome with further research in the field along with higher commercialization of these products in the general consensus.
The population of Asia Pacific has been shifting towards the youth, and the young population is dependent highly on the packaged food and beverage industry. The developing countries are looking at China and India as global market leaders. The requirement is not only restricted to a single industry but also spread across a vast spectra with the likes of agricultural, as well as, electronics industry both of which are booming in this region These countries consists of over 35% population across the globe and application of packaging films in this region will grow with a very high rate.
Further key findings from the report suggest
The polyethylene segment is expected to observe the highest CAGR of 5.5% during the forecast period. Films of this material helps in the protection of shelf products from oxygen degradation. Oxygen degradation causes undesirable smell, taste, and color. This increases the shelf life of products and hence customer acceptability of the shelved goods.
Inorganic Oxide Coatings have been seen to have held a market share of 8% in the year 2018. These coatings prevent corrosion of the substrate. These coatings can be applied with or without electrical support and serve as a better protector than paints.
Moisture protection barrier films are set to witness a CAGR of 4.9% during the forecast period. These films are used in the manufacturing of drugs that are to be ingested and also for the packaging of water sensitive products. They are dissolved rapidly once ingested and also increase the shelf life of the products.
Asia Pacific is forecasted to observe the highest CAGR of 5.1% during the forecast period. Countries like India, Japan, and China are quickly catching up with the growth in the barriers films market. The advent of packaged food and beverage industries because of the urbanization in the lives of the residents of this region shall propel the market growth here.
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For the purpose of this report, Reports and Data have segmented into the global Barrier Films Market on the basis of contaminant type, material type, end-users, and region:
Contaminant Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 20162026)
- Oxygen and Other Gas
Material Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Polyethylene Terephthalate
- Organic Coatings
- Inorganic Oxide Coatings
End-Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Food & Beverage Packaging
- Pharmaceutical Packaging
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- North America
- Asia Pacific
- Latin America
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Barrier Films Market Segmentation & Impact Analysis
4.1. Barrier Films Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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