Global Barrier Materials Market Surges to $3.0 Billion in 2022, Fueled by Growing Demand for Effective Packaging Solutions
Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "Barrier Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to * ResearchAndMarkets.com's* offering.
The global barrier materials market, which reached a size of US$ 3.0 billion in 2022, is forecasted to experience significant growth in the coming years. The market is expected to reach US$ 4.1 billion by 2028, reflecting a Compound Annual Growth Rate (CAGR) of 5.4% during the period from 2023 to 2028.
Barrier materials are various packaging and enclosure solutions designed to reduce or prevent the permeability of gases, liquids, or radiation. These materials effectively block oxygen, nitrogen, carbon dioxide, water vapors, aroma compounds, and light, preserving the quality of the packaged contents.
Commonly used barrier materials include glass, metal, plastic, and laminated films, often combined with materials like polypropylene, polyethylene, polyamide, ethylene vinyl alcohol, polylactic acid, and ethylene-vinyl acetate to enhance sealing, optical clarity, and mechanical and barrier properties. Barrier materials find applications across diverse industries, including food and beverage, pharmaceuticals, cosmetics, automotive, and agriculture.
*Key Factors Driving Market Growth*
· *Packaging Industry Growth*: The significant expansion of the packaging industry worldwide is a key driver for the market. The demand for effective packaging solutions from the pharmaceutical, food and beverage, and other industries is fueling market growth. Rising awareness of food safety has led to the use of barrier materials in the manufacturing of packaging materials with extended shelf-life. These materials protect products like meat, fish, dairy, and agricultural produce from contamination and quality deterioration.
· *Product Innovations*: Ongoing product innovations, such as the development of bio-based barrier materials, are contributing to market growth. Bio-barriers are recyclable, compostable, and biodegradable compared to traditional materials. Manufacturers are also working on colorful prints and innovative adhesives to bond layers together. Rising consumer spending capacity and increased research and development (R&D) activities for the production of scratch and abrasion-resistant materials are expected to further drive the market.
*Market Segmentation*
The global barrier materials market is segmented based on type and end-use industry:
*Type:*
· Polyvinylidene Chloride (PVDC)
· Ethylene Vinyl Alcohol (EVOH)
· Polyethylene Naphthalate (PEN)
· Others
*End-Use Industry:*
· Pharmaceutical
· Food and Beverage
· Agriculture
· Cosmetics
· Automotive
· Others
*Regions:*
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East and Africa
*Competitive Landscape*
The report offers a comprehensive analysis of the competitive landscape, featuring key market players such as 3M Company, Arkema Group, Asahi Kasei Corporation, Chang Chun Petrochemical Co., Ltd., Kuraray Co., Ltd., Kureha Corporation, Mondi plc, Solvay SA, Teijin Limited, and The Dow Chemical Company.
*Key Questions Addressed in the Report*
1. How has the global barrier materials market performed so far, and what is its expected performance in the coming years?
2. What impact has COVID-19 had on the global barrier materials market?
3. What are the key regional markets in the global barrier materials industry?
4. What is the market share based on type and end-use industry?
5. What are the primary drivers and challenges affecting industry growth?
6. Who are the major players in the global barrier materials market, and what is their competitive positioning?
7. What is the level of competition in the global barrier materials industry?
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 137
Forecast Period 2022 - 2028
Estimated Market Value (USD) in 2022 $3 Billion
Forecasted Market Value (USD) by 2028 $4.1 Billion
Compound Annual Growth Rate 5.3%
Regions Covered Global
For more information about this report visit https://www.researchandmarkets.com/r/f4jcfd
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*Attachment*
· Global Barrier Materials Market
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