The Business Research Company’s Barrier Resins Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON , UK, May 12, 2022 /EINPresswire.com/ — The development of organic resins is a key trend gaining popularity in the global barrier resins market. Major companies operating in the barrier resin market are focused on developing new organic resins that are environmentally friendly and sustainable. For instance, in December 2020, Netherlands-based Royal DSM, a key science-based company involved in health, nutrition, and materials, launched Discovery resins for the packaging industry that are sustainable and plant-based. The SP-6400XP is a part of DSM’s Discovery range of resins and emits fewer VOCs and carbon emissions for the printing and packaging industry.
According to the barrier resins market report, increasing demand for the longer shelf life of food products is contributing to the growth of the market. There has been an increasing demand for food products with a longer shelf life. Barrier resins are used in the food and beverage packaging industry to protect packed goods from moisture and to prevent gas penetration. They provide enhanced shelf life, consistency, and prevent odor and UV rays from entering the container, thus protecting the vitamin content of the food. In 2020, UAE-based FMCG company, Truebell, saw a threefold increase in demand for long-shelf-life products. The company saw an increase in the popularity of long-shelf life food products and baking ingredients, along with an increase in the consumption of home-cooked meals. Thus, the growing demand for a longer shelf life of food products will drive the growth of the barrier resin market.
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The global barrier resins market size is expected to grow from $3.23 billion in 2021 to $3.41 billion in 2022 at a compound annual growth rate (CAGR) of 5.75%. The growth in the market is mainly due to the companies’ rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global barrier resin market share is expected to reach $4.24 billion in 2026 at a CAGR of 5.58%.
Major players covered in the global barrier resins industry are Kuraray Co., Ltd., The Dow Chemical Company, Tenjin Limited, Asahi Kasei Corporation, Solvay International, El du Pont de Nemours and Company, Ineos, Lyondellbasell Industries, Honeywell International Inc., Mitsui Chemicals, Inc., LG Chem, INVISTA, Chang Chun Petrochemical Co., Ltd., Mitsubishi Chemical Corporation, Valspar Corporation, Sabic, Borealis Ag, Sinopec, Braskem S.A., Hanwha Total Petroleum, NOVA Chemicals Corporation, EVAL Europe N.V, Zheijang Juhua Co., Ltd., Toray Industries and Mitsubishi Gas Chemical Company Inc.
TBRC’s global barrier resins market segmentation is divided by packaging type into flexible packaging, rigid packaging, by resin type into polyvinylidene chloride, ethylene vinyl alcohol, polyethylene naphthalate, polyamide, polyethylene terephthalate, polyethylene, polypropylene, polyvinyl alcohol, others, by application into food and beverage, pharmaceutical and medical, cosmetics, agriculture, industrial, others.
Barrier Resins Global Market Report 2022 – By Packaging Type (Flexible Packaging, Rigid Packaging), By Resin Type (Polyvinylidene Chloride, Ethylene Vinyl Alcohol, Polyethylene Naphthalate, Polyamide, Polyethylene Terephthalate, Polyethylene, Polypropylene, Polyvinyl Alcohol, Other Resin Types), By Application (Food And Beverage, Pharmaceutical And Medical, Cosmetics, Agriculture, Industrial, Other Applications) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a barrier resins market overview, barrier resins market forecast barrier resins market size, and barrier resins market growth for the whole market, barrier resins market segments, geographies, barrier resins market trends, barrier resins market drivers, barrier resins market restraints, leading competitors’ revenues, profiles, and market shares.
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