Global Barrier Resin Market, By Type (Polyvinylidene Chloride, Ethylene Vinyl Alcohol, Polyethylene Naphthalate, Polyamide, Polyethylene Terephthalate, Polyethylene, Polypropylene, Polyvinyl Alcohol, Others ), Resin (Flexible packaging, Rigid packaging), Application (Food and Beverage, Pharmaceutical and Medical, Cosmetics, Agriculture, Industrial, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
There has been huge demand for barrier resin as it is massively used in the medical field to protect drugs and tablets. Additionally, the Indian pharmaceutical market grew at 17.7% yearly in August 2021, 4% more than it did in July 2020. Further, the demand for packaging and protective materials rises as the demand for medical devices and products does.
Global barrier resin market was valued at USD 12.40 billion in 2021 and is expected to reach USD 19.62 billion by 2029, registering a CAGR of 5.90% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Polyvinylidene Chloride, Ethylene Vinyl Alcohol, Polyethylene Naphthalate, Polyamide, Polyethylene Terephthalate, Polyethylene, Polypropylene, Polyvinyl Alcohol, Others ), Resin (Flexible packaging, Rigid packaging), Application (Food and Beverage, Pharmaceutical and Medical, Cosmetics, Agriculture, Industrial, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Corporate.Evonik (Germany), Arkema (France), Hexion (U.S.), Huntsman International LLC (U.S.), Cardolite Corporation (U.S.), BASF SE(Germany), Cardolite Corporation (U.S.), Kukdo Chemical Co., Ltd., (South Korea), Dupont (U.S.), DAIKIN (Japan), Bostik (France), H.B. Fuller Company (U.S.), Sika AG (Switzerland), Freudenberg SE (Germany), Aditya Birla Group Chemicals (India), Mitsubishi Chemical Corporation (Japan), DOW (U.S.), SOLVAY (Belgium), Air Products, Inc., (U.S.) and Momentive (U.S.)
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Market Opportunities
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Market Definition
Resin is a naturally occurring substance that can be found in a variety of coniferous plants. However, resins are regarded as a viscous substance in the chemical industry and can either be sourced from plants or be synthetic. Because many plants manufacture natural resins, external forces can cause harm to the outer layer that serves as the plant's defence against parasites and other pathogens. The resin is a synthetic substance that is used commercially to create products including varnish, food glazing, adhesives, nail polish, and scents.
Barrier Resin Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Lower Costs and Production Waste
The decrease in production costs and waste is the main element boosting the market for barrier resin. Manufacturers can make more packaging with less waste by using barrier resin. For instance, aseptic filling can create plastic barrier structures, which use less energy. Additionally, because of its modest weight, it can convey more items without needing extra packaging. Additionally, practical packaging that is also reasonably priced aids in expanding the market for high-quality goods. Barrier resins are increasingly being utilized in manufacturing to reduce waste since they provide these benefits, which has fueled the expansion of the barrier resin market.
- Increased Utilization across Food and Beverages
The barrier resins have significantly aided in the expansion of this market due to their ability to replace glass and cans in the food and beverage sectors. Barrier resins can also be shaped and made to fit any size and are also readily moldable. The shelf life of foods including canned food, meat, dairy goods, and carbonated beverages is also improved by barrier resins.
Furthermore, numerous medications have been developed as a result of the expansion of improved production techniques supported by technical innovation and greater player consolidation, directly driving up demand for pharmaceutical packaging. Globally, this has accelerated the expansion of barrier resins. Pharmaceutical products such pouches, labels for bottled pharmaceuticals, and push-through packs are typically protected with barrier resins like PVDC and EVOH from light, moisture, oxygen, biological contamination, mechanical damage, and counterfeiting.
Opportunities
- Boost in New Technologies and Techniques
Furthermore, the top businesses are increasing the output of barrier resin manufacturing due to the increased demand for technologically sophisticated packaging materials from emerging economies around the world. In order to enhance the barrier resins' qualities and broaden their uses, industry companies are creating new technologies and techniques. Additionally, numerous initiatives are made to lessen these barriers' negative environmental effects, further extending profitable opportunities to the market players in the forecast period of 2022 to 2029.
- Burgeoning Demand for Customer-Friendly Packaging
Additionally, the barrier resins are most commonly employed in packaging solutions to offer customer-friendly packaging to various end-user sectors. Agrochemicals and other products used in agriculture must be packaged in non-reactive materials that do not alter their chemical makeup. Barrier resins allow packing materials to maintain their chemical structure and texture while providing suitable protection against external environmental factors. Barrier resin manufacturers have seen their market share increase as a result of participants in the agrochemical and agricultural industries choosing to export their goods in these containers due to a number of appealing qualities of these materials. This factor is anticipated to further expand the future growth of the barrier resin market.
Restraints/Challenges
- Negative Effects on the Environment
The majority of barrier resins on the market today are comprised of plastic. They are extremely stable and have a very long half-life in the environment after being disposed. The degradation process is slowed down even further by the makers' inclusion of antioxidants, which shield the material from acidic attacks. In addition to this, the manufacture of plastics releases numerous harmful chemicals into the environment, including trichloroethane, acetone, methylene chloride, methyl ethyl ketone, styrene, toluene, and benzene. Additionally, the resins may migrate from the containers in which they are stored into food, eventually being consumed by people or animals and leading to major health issues. Consequently, this factor will hinder the market growth.
- Volatility in Raw Material Prices
The raw constituents including naphtha, natural gas, monoethylene glycol, and crude oil are used to make plastic resins. Most of the world's polyethylene resin comes from crude oil, although natural gas is the main source in the US. Polyethylene terephthalate resins' primary raw ingredient is mono ethylene glycol (MEG). The US Energy Information Administration (EIA) estimates that the average spot price for natural gas was USD 2.22 per million Btu in 2020, a considerable decrease from USD 2.82 per million Btu in 2019. Therefore, the will challenge the barrier resin market growth rate.
Moreover, the stringent regulations set by various governments and the growing demand pf bio-based and sustainable barrier resins are also expected to hamper growth of the global barrier resin market.
This barrier resin market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the barrier resin market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Barrier Resin Market
The recent outbreak of coronavirus had a negative impact on the barrier resin market. The COVID-19 pandemic disrupted the world economy throughout the year 2020, and the pharmaceutical industry in particular had to fast adjust to reduce the impact on its operations and the global supply chain of medicines. Prices for raw materials and additives have risen as a result of decreased availability, postponed industrial plans, and shutdowns in some nations. The fundamental issue facing all industry sectors has been the limitation on logistics. When the coronavirus outbreak was at its worst, the countries were largely isolated. There were severe limitations on how much people and things could move. People and cargo were divided between provinces, cities, towns, and even villages in an effort to confine the epidemic. In certain nations, the railways were also suspended, and in those that continued to run, the loading and unloading were hampered by a labor shortage.
The cost of resins and raw materials has skyrocketed during the COVID-19 pandemic due to various restrictions on air travel and a lack of efficiency in the supply chain.
Recent Development
- In June 2021, The second prototype of the hybrid Seagull water landing aircraft, scheduled to take to the skies in late 2021, will be built using materials from Solvay's range of thermoset, thermoplastic composite, and adhesive materials, according to a partnership between the two companies.
Global Barrier Resin Market Scope
The barrier resin market is segmented on the basis of type, resin and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Polyvinylidene Chloride
- Ethylene Vinyl Alcohol
- Polyethylene Naphthalate
- Polyamide
- Polyethylene Terephthalate
- Polyethylene
- Polypropylene
- Polyvinyl Alcohol
- Others
Resin
- Flexible Packaging
- Rigid Packaging
Application
- Food and Beverage
- Pharmaceutical and Medical
- Cosmetics
- Agriculture
- Industrial
- Others
Barrier Resin Market Regional Analysis/Insights
The barrier resin market is analysed and market size insights and trends are provided by country, type, resin and application as referenced above.
The countries covered in the barrier resin market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the growing food and beverage industry in countries such as China and India within the region.
North America on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing spending on research and development within the emerging economies in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Barrier Resin Market Share Analysis
The barrier resin market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to barrier resin market.
Some of the major players operating in the barrier resin market are
- Corporate.Evonik (Germany)
- Arkema (France)
- Hexion (U.S.)
- Huntsman International LLC (U.S.)
- Cardolite Corporation (U.S.)
- BASF SE (Germany)
- Cardolite Corporation (U.S.)
- Kukdo Chemical Co., Ltd., (South Korea)
- Dupont (U.S.)
- DAIKIN (Japan)
- Bostik (France)
- H.B. Fuller Company (U.S.)
- Sika AG (Switzerland)
- Freudenberg SE (Germany)
- Aditya Birla Group Chemicals (India)
- Mitsubishi Chemical Corporation (Japan)
- DOW (U.S.)
- SOLVAY (Belgium)
- Air Products, Inc., (U.S.)
- Momentive (U.S.)
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