19-Oct-2021 | Zion Market Research
Major companies in the Barrier Resin Market The Dow Chemical Company, INVISTA, Kuraray Co., Teijin Limited, The Nippon Synthetic Chemical Industry Co. Ltd., Zheijang Juhua Co. Ltd., Honeywell International Inc., Ineos Group Ltd., Exxon Mobil Corporation, E.I. du Pont de Nemours and Company, LyondellBasell Industries and Solvay S. A. among others. These players are set to bolster the development of the global Barrier Resin Market.
According to analysts at Zion Market Research, the Barrier Resin market accounted for 11,600.5 Million in 2020 and is expected to reach USD 17,878.1 Million by 2028, growing at a CAGR of 5.8% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Barrier Resin Market By Type (Ethylene Vinyl Alcohol (EVOH), Polyethylene Naphthalate (PEN), Polyvinylidene Chloride (PVDC), Polyamide (PA), Polyethylene (PE) and Others), By End-use Industry (Food and Beverage, Pharmaceutical and Medical, Personal Care and Cosmetics, Agricultural and Others), and By Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Escalating Demand from the Food and Beverage Industry to Enhance Growth
The growth in the global barrier resin market is mainly owing to the large-scale demand from the food and beverage industry. Barrier Resin is utilized in packaging not just in the food and beverage industry but also in the pharmaceutical and medical industry. Consumption in these two sectors is the driving factor in the growth of demand for Barrier Resin in the market.
Other factors contributing towards the growth are the lower costs and visual attractiveness. Among the different types of Barrier Resins, EVOH is the fastest growing type. Its demand is increasing due to the growth of end-use industries such as food and beverage, pharmaceutical and medical industries among others, in developed and emerging countries.
Economic Growth, Rapid Industrialization and Enhanced Lifestyle Standards in the Region to Assist Asia Pacific Growth
Asia Pacific is dominating the global Barrier Resin market and it is expected to maintain its dominant position, during the forecast period. This dominance can be attributed to the region’s economic growth, rapid industrialization and enhanced lifestyle standards.
Countries like India and China are experiencing changes in their demographics and income trends. Owing to these changes, the region is seeing economic growth, rise in their industrial sector and enhanced infrastructure. These changes have promoted the rise in disposable incomes and standard of living. This further contributes to changes in eating and living habits, promoting the growth of consumer goods, packed products, food and beverages, personal care and healthcare products. All these end-use industries utilize Barrier Resins, enhancing their demand and usage.
Browse the full “Barrier Resin Market By Type (Ethylene Vinyl Alcohol (EVOH), Polyethylene Naphthalate (PEN), Polyvinylidene Chloride (PVDC), Polyamide (PA), Polyethylene (PE) and Others), By End-use Industry (Food and Beverage, Pharmaceutical and Medical, Personal Care and Cosmetics, Agricultural and Others), and By region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/barrier-resin-market
The Global Barrier Resin Market is segmented as follows:
By End-use Industry
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