Global Barrier Resin Market: Overview
Globally, food and beverage industry is the largest application segment of the barrier resin market. The features of barrier resins such as providing extended shelf life to the eatables, maintaining quality and flavor of food, preventing damage through oxygen and other odors are the reasons due to which they are utilized on such a large scale in the food and beverage industry. The use of barrier resins provides flexibility in packaging which is one of the major attraction owing to which the demand for barrier resin is rising in the market. The raw material that is used in the manufacturing of barrier resin is feedstock which includes crude oil, raw material such as vinylidene chloride, alkylacrylates, vinyl chloride, ethylene, naphthalene-2, 6 dicarboxylate, vinyl alcohol, ethylene glycol, dimethyl terephthalate and caprolactum among others. EVOH, PEN and other types of barrier resins are available in the market among which EVOH is the fastest growing type. The growth in the barrier resin market is driven by the demands visible in the developing regions.
Global Barrier Resin Market: Segmentation
The global barrier resin market is segmented into its type, application, and region. Based on the type, the global barrier resin market is divided into EVOH, PVDC, PEN and others. On the basis of application, the segregation is seen into sectors such as pharmaceutical and medical, food and beverage, cosmetic, agricultural, industrial sector and others. The global barrier resin market is diversified into regions such as Asia Pacific, Europe, South America, North America and the Middle East and Africa.
Global Barrier Resin Market: Growth Factors
The growth in the global barrier resin market is mainly owing to 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 available in barrier resin, EVOH is the fastest growing type. Its demand is increasing globally from end-use industries in the developed and emerging countries.
Global Barrier Resin Market: Regional Analysis
Asia-Pacific is the fastest growing market for barrier resin. It is seeing a phase of rapid growth owing to reasons such as stability in economic growth and infrastructural developments. Asia-Pacific is the major center for sourcing out barrier resin globally. In addition, growth for barrier resin is visible in the markets of Europe, North America, South America, and the Middle East and Africa.
Global Barrier Resin Market: Competitive Players
Some of the key companies in the global barrier resin market are Chang Chun Petrochemical Co., Ltd., Asahi Kasei Corporation, INVISTA, E.I. du Pont de Nemours and Company, Kureha Corporation, Kuraray Co., Ltd., Teijin Limited, Solvay S. A., The Nippon Synthetic Chemical Industry Co. Ltd., The Dow Chemical Company, Zhejiang Juhua Co. Ltd., Ineos Group Ltd. and Honeywell International, Inc.
Global Barrier Resin Market: Regional Segment Analysis
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