According to the latest report by IMARC Group, titled "Barrier Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global barrier materials market grew at a CAGR of around 7% during 2014-2019. Barrier materials are coatings and packaging solutions that are used to prevent the diffusion of gases and the permeability of liquids and radiations. These materials are usually transparent and flexible in nature and are employed in the production of thin films and sheets for food packaging. Their usage obstructs the entry of atmospheric air, thereby preserving the quality of the packaged food. Apart from being used in the food industry to improve the shelf life and thermal stability of the products, they are also utilized across other industry verticals, such as cosmetics, pharmaceutical, automotive and agriculture, for a vast array of applications.
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Global Barrier Materials Market Trends:
The market is primarily driven by the significant growth in the food industry across the globe. This can be attributed to the escalating sales of processed, packaged and on-the-go food products majorly due to the hectic lifestyles led by the masses, along with their inflating disposable incomes and the shifting dietary patterns. Consequently, there is an increasing need for packaging solutions that prevent contamination and spoilage of these products in an efficient manner. This is further supported by the stringent regulations imposed by several government agencies, including the US Food and Drug Administration (FDA), to extend the shelf life of consumables. Apart from this, efficient barrier materials are widely utilized in the pharmaceutical industry to prevent the spoilage or spillage of temperature-sensitive drugs. These materials offer improved scratch and abrasion resistance when compared to conventionally used packaging solutions, thereby providing an impetus to the market growth. The market is further driven by extensive research and development (R&D) activities conducted by the players in an attempt to introduce innovative product variants in the market. This has led to the launch of bio-based barrier materials that are recyclable, compostable and biodegradable in nature. Consequently, these materials are extensively being preferred by end users on account of the enhanced focus on sustainable development. Some of the other factors contributing to the market growth include the rising expenditure capacities of the consumers and the growing awareness regarding food safety among the masses. Looking forward, the market is anticipated to witness moderate growth during 2020-2025.
- On the basis of the type, the market has been divided into Polyvinylidene Chloride (PVDC), Ethylene Vinyl Alcohol (EVOH), Polyethylene Naphthalate (PEN), and others.
- Based on the end use industry, the market has been classified into pharmaceutical, food and beverage, agriculture, cosmetics, automotive and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include 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.
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