Barrier Resins Market By Type (PEN, PVDC, EVOH, Bio-based, Others), By Application (Food And Beverage, Cosmetics, Pharmaceutical And Medicine, Agriculture, Industrial), And Region for 2024-2031

Barrier Resins Market Valuation – 2024-2031

The Barrier Resins Market was valued to be around USD 13.76 Billion in 2023 and is predicted to reach USD 22.09 Billion by 2031. This growth is driven by several factors increasing demand for pharmaceutical packaging in new markets, changes in people’s lifestyles, and a greater focus on healthy products by consumers. These factors are surging the application of barrier resins to help batteries perform better and safer.

Also, the increasing use of batteries in the majority of industries including consumer goods, automobiles, telecommunication, chemical, manufacturing, and others is stirring up the sales of barrier resins. This rising demand for barrier resins across various industries is expected to help the market grow at a CAGR of 5.4% annually from 2024 to 2031, offering continued opportunities for expansion.

Barrier Resins MarketDefinition/Overview

Barrier resins serve as essential components in packaging, forming a protective barrier against gases, vapors, and liquids. They can be sourced from natural materials like plants or synthesized, finding widespread use in products such as perfumes, adhesives, and food packaging. With varieties like Polyvinylidene Chloride (PVDC), Ethylene Vinyl Alcohol (EVOH), and Polyethylene Naphthalate (PEN), these resins cater to specific needs across diverse sectors like food and beverage, pharmaceuticals, cosmetics, and agriculture.

The growth prospects for barrier resins are promising, driven by expanding pharmaceutical packaging demands in developing regions and evolving consumer lifestyles. As urbanization progresses and preferences shift towards longer-lasting food items, the market for these resins is poised for further expansion. Moreover, rising consumer awareness regarding health and the demand for fresh, well-packaged food products are key drivers propelling market growth. Despite challenges like production costs and regulatory standards, the indispensability of barrier resins in ensuring product safety and quality across industries is expected to sustain their demand.

What Factors are Driving the Growth of the Barrier Resins Market?

Increasing demand for high-quality packaging in the pharmaceutical and cosmetic industry for protection and shelf-life extension is resulting in spurring up the use of barrier resins. Similarly, the growing application of barrier resins in industrial and agricultural sectors for specific needs such as chemical resistance and containment will further drive the market.

Additionally, the changing lifestyle patterns of the consumers along with rising disposable income and flourishing e-commerce industry in developing countries such as India, China, and others are fueling demand for longer-lasting and better-packaged products. Besides this, heightened consumer awareness regarding health consciousness is further boosting the demand for barrier resins, particularly in the food and beverage industry where fresh and properly packaged products are preferred.

Stringent regulations and consumer awareness regarding food safety and environmental consciousness is driving demand for robust and bio-based, recyclable barrier resins to prevent contamination and ensure product integrity. Also, growing concerns about foodborne illnesses are highlighting the need for effective packaging solutions to lower risks, and practicing regulations against non-recyclable and environmentally harmful materials creates opportunities for sustainable alternatives.

Also, the integration of nanotechnology and other innovative technologies helps develop lighter, stronger, versatile, cost-effective, and more efficient barrier solutions.

As urban areas attract more inhabitants, there is an increasing need for products with enhanced packaging capabilities to ensure their preservation. In response to this, the advancements in packaging technology are likely to enable innovation in barrier resin solutions tailored to specific industry requirements. Overall, these factors combined contribute to the steady expansion of the Barrier Resins Market.

What Factors are Contributing to the Declining Sales of the Barrier Resins Market?

Growing awareness about environmental concerns is propelling focus on sustainability, thereby lowering the use of conventional barrier resins such as PVDC owing to their non-biodegradability and potential health risks. Thus, the growing need for alternative sources is proving challenging for the market. Likewise, stringent regulations regarding food safety and material restrictions are creating compliance challenges for manufacturers, leading to an upsurge in cost and development timelines.

The upfront cost of the high-performance barrier resins is making it infeasible for all applications or price-sensitive consumers. Thus, striking the balance between material cost and desired barrier performance is projected to play a crucial factor.

Despite advancements in recyclable barrier resins, the global recycling infrastructure for these materials is still underdeveloped, hindering their widespread adoption. Also, the difficulty associated with the production of personalized, adaptable, and flawless barrier resins is increasing uncertainty in the growth of the market.

Moreover, heightened competition from alternative packaging materials and solutions is further affecting the market’s sales performance. Furthermore, economic downturns and uncertainties in certain industries are also playing a role in the decline of sales for barrier resins. Collectively, these factors are driving the decreased sales of barrier resins in the market.

Category-Wise Acumens

What Product Type Category Dominates the Barrier Resins Market in Terms of Market Share?

Ethylene Vinyl Alcohol (EVOH) is currently estimated to hold a major portion of the Barrier Resins Market during the forecast period. Its gas barrier properties, especially against oxygen, are enhancing the application of EVOH as a component in multilayer packaging films for increasing the shelf life of food and beverages. Thus, the high demand for this component in packaging applications to improve preservation of product quality and freshness is majorly contributing to the growth of the Barrier Resins Market.

In addition to this, the use of EVOH in conjunction with other barrier resins, such as polyethylene (PE) or polyethylene terephthalate (PET), in multilayer structures helps form a synergistic effect, creating high barrier performance in packaging materials. While EVOH might be currently dominant, PEN is experiencing the fastest growth due to its sustainability benefits and expanding applications.

Will the Food and Beverage Sector Emerge as the Central Driver of Growth in the Barrier Resins Market?

The Food & Beverage segment is anticipated to be subject to experience the fastest growth in the market within the forecast period High demand for maintenance of freshness and food quality along with the extension of the shelf life of food and beverages are bolstering the need for effective packaging to prevent the ingress of gases and moisture. Additionally, the packaging also helps prevent odors from permeating, thus maintaining the integrity and flavor of the products.

Furthermore, barrier resins provide a shield against UV rays, thereby safeguarding the packaged items from degradation and preserving their nutritional content, including essential vitamins. With these combined benefits, barrier resins are increasingly regarded as indispensable in the food and beverage industry, thereby positioning this sector as a significant driver of growth in the Barrier Resins Market.

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Country/Region-wise Acumens

Could the Asia Pacific Drive an Increase in the Sales within the Barrier Resins Market?

The sales of barrier resins in the Asia Pacific are expected to stir up leading to an increase in market share in this region. This expectation arises from factors such as changing consumer preferences, ongoing infrastructure development, and sustained economic growth observed across the region. Evolving consumer tastes contribute to the increasing demand for products packaged with barrier resins to maintain freshness and quality, thereby expanding the market. Additionally, investments in infrastructure development initiatives, including transportation and logistics networks, are enhancing supply chain efficiencies and facilitating the distribution of barrier resin products throughout the region.

Moreover, the stable economic growth in the Asia Pacific is bolstering market prospects for barrier resins. With robust economic performance and rising disposable incomes, consumers are more inclined to purchase packaged goods, driving further demand for barrier resin-based packaging solutions. The presence of a large population base in countries like China and India presents significant market opportunities for manufacturers and suppliers of barrier resins. Consequently, this region is positioned to emerge as a key driver of growth within the Barrier Resins Market, exerting considerable influence on market dynamics in the foreseeable future.

Will the Sales of Barrier Resins Fare Well in North America?

North America is projected to follow Asia Pacific with its mature market emphasizing sustainability and innovation. This region is projected to hold the second position in the Barrier Resins Market. Established industries in need of barrier resin packaging solutions are prevalent in the region, bolstering its market presence. Furthermore, early adoption of technological advancements is driving innovation in the sector, leading to an increase in demand for barrier resins.

With a growing focus on stringent regulatory standards in ensuring high-quality packaging materials, the sales of these resins in North America are likely to enable hold a prominent position. Additionally, the region benefits from a robust infrastructure supporting efficient distribution networks and a well-developed consumer base with high purchasing power. The focus on sustainability and eco-friendly packaging practices further solidifies its position in the Barrier Resins Market.

Competitive Landscape

Understanding the competitive landscape of the Barrier Resins Market is essential for grasping the industry’s dynamics. These vital components play a crucial role in various packaging applications for maintaining product quality and extending shelf life. This research aims to analyze the competitive landscape, focusing on key players, market trends, innovations, and strategies. By examining these factors, this study aims to provide valuable insights to industry stakeholders, helping them navigate the competitive environment effectively and seize emerging opportunities.

Some of the prominent players operating in the Barrier Resins Market include

Solvay, Dow Chemical, INEOS, Kuraray, Teijin DuPont Films, Asahi Kasei, Ashland Global Holdings Inc., Changchun Group, INVISTA, KUREHA CORPORATION, LG Chem, MITSUBISHI GAS CHEMICAL, The Nippon Synthetic Chemical Industry, Valspar.

Latest Developments

• In January 2024, Dow Chemical announced a mass-balance strategy to develop sustainable polyurethane solutions using circular feedstock from a waste product of the transportation sector.
• In October 2023, Ashland Global Holdings Inc. introduced a new low-density polyethylene (LDPE) resin with enhanced barrier properties for flexible food packaging, offering extended shelf life while reducing material usage.
• In November 2023, INEOS Styrolution Group completed the acquisition of the global styrene business of BASF, positioning them as a major player in the polystyrene (PS) market, which is utilized in barrier resin blends.

Report Scope

Barrier Resins Market, By Category

Type

• Polyethylene Naphthalate (PEN)
• Polyvinylidene Chloride (PVDC)
• Ethylene Vinyl Alcohol Copolymer (EVOH)
  1. Cyclic Olefin Copolymer (COC)
  2. Polyethylene Terephthalate
  3. Polypropylene
  4. Nylon
  5. Others
• Biobased Barrier Resins
• Others

Application

• Food & Beverage
• Cosmetics
• Pharmaceutical & Medicine
• Agriculture
• Industrial
• Others

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support.

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