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Barrier Resins Market 2024 To Register Extensive Size, Growth Via Pharmaceutical Packaging Industry

Author : Ronak Bora | Published Date : 2019-05-27 

Global Market Insights, Inc. added Barrier Resins Market Report provides an analytical assessment of the prime challenges faced by this Market currently and in the coming years, which helps market participants in understanding the problems they may face while operating in this market over a longer period.

Barrier resins market is segmented based on product as bio-based and synthetic products. Bio-based material will witness notable gains in forecast period due to increasing consumer preference for ecofriendly substitutes. These resins derive their carbon molecules from the renewable feed stocks and offer minimal carbon footprint impact. Enhanced physical performance and shelf life are other factors supporting product demand.

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Barrier Resins Market size will witness significant growth rate from 2017 to 2024. Growth in pharmaceutical packaging industry along with increasing penetration of bio-based material will drive the industry growth. Effective protection against moisture, light, oxygen, physical damage, counterfeit and contamination are key properties fueling product scope.

Strong outlook in food & beverages, cosmetics, industrial and agriculture industry will propel barrier resin market growth. Improved shelf life of packaged food coupled with rising demand for convenience food products are among major factors driving industry demand. Increasing consumer awareness regarding health & safety coupled with hectic life schedules have enhanced packaged food demand.

Shifting trend towards small households due to changing lifestyles and rapid urbanization will support barrier resins market growth. Increasing product usage in packaging food & beverages including bakery & confectionery, dairy products, fruits & vegetables, meat products, sauces and condiments will drive business growth.

Expansion in overall pharmaceuticals industry owing to increasing disease incidences and growing medical expenditure are among key factors fueling product demand. Technological advancement in blister packaging and drug delivery devices will support the barrier resins market. Emergence of nano-technology has enhanced pharmaceutical packaging industry.

Rapid globalization and strengthening economic conditions have enhanced the living standards globally. Increasing consumer spending on cosmetic products including skin care, hair care and makeup products will drive barrier resin market. Easy to store, carry and apply properties offered by cosmetic packaging solutions will support product penetration. Increasing cosmetic consumption in smaller packaging sizes has further enhanced the industry growth.

Barrier resins market is segmented based on end-use into pharmaceuticals, food & beverages, agriculture, cosmetics, and industrial. Food & beverage is anticipated to remain largest revenue share over the forecast timeframe primarily owing to high product usage in packaging food products including meat, fish, beer, canned milk & vegetables. Extended shelf life, long-lasting flavor, food quality, and prevention of odors are among major properties fueling product penetration.

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Asia Pacific barrier resins market hold notable share in overall industry size. High product demand across the region can be attributed to stable economic growth along with expansion in food and agriculture industry. Changing demographic and income trends along with changing food habits are key factors driving regional demand.

North America is expected to witness notable gains in forecast period due to growth in packaging industry. Shifting retailer perception towards packaging as promoting tool rather than product protection will provide positive outlook for product demand. Expansion in cosmetics industry due to rising consumer demand will drive barrier resin market size.

Global industry share is highly fragmented and competitive due to presence of numerous international and regional manufacturers. Dow Chemicals Company, Kuraray, INEO Group, Honeywell International, Asahi Kasei Corporation, Invista, Solvay, du Pont de Nemours, Zhejiang Juhua, Teijin, Kureha Corporation, and Nippon Synthetic Chemical are among prominent players in barrier resins market. Mergers & acquisitions, supply agreements and product portfolio expansion are among major strategies adopted by manufacturers to strength their foothold. For instance, in April 2015, Kuraray announced acquisition of Plantic Technologies for expansion into bio-based barrier materials for industrial and food packaging applications.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- ronak.b[email protected] | https://twitter.com/RonakBora26

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