PUNE, India, November 9, 2015 /PRNewswire/ --
The report "Barrier Materials Market by Type (PVDC, EVOH, PEN and Others), by End-Use Industry (Food & Beverage, Pharmaceutical, Cosmetic, Agriculture, and Others) - Global Forecast to 2020", published by MarketsandMarkets, The Global Barrier Material Market is expected to reach USD 2.64 Billion by 2020, at a CAGR of 7.26%, between 2015 and 2020.
Browse 93 market data Tables with 54 Figures across 142 Pages and in-depth TOC on "Barrier Materials Market"
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Asia-Pacific - The most dominant region in the barrier material market
The Barrier Material Market in Asia-Pacific is one of the fastest-growing markets and is projected to continue domination in the near future. Asia-Pacific is also the biggest market of barrier materials that accounted for a share of more than 42.37% of the total market, in terms of volume, in 2014, which was mainly due to China's contribution. India is the fastest-growing market of barrier materials in the region owing to growing population, vast economies-developed as well as developing, favourable investment policies, and government initiatives to promote industrial growth.
PVDC - The biggest market and EVOH, the fastest-growing type segment in the barrier material market
PVDC is the largest type-segment of barrier material. Asia-Pacific is currently the largest market of PVDC, which accounted for a share of 42.74% of the total market in 2014. EVOH is a highly flexible thermoplastic barrier material that has major applications in food & beverage and pharmaceutical packaging as it is highly transparent; weather, oil & solvent resistant; moldable and recyclable.
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Food & beverage end-user industry - the fastest-growing market of barrier materials
The food & beverage segment is one of the fastest-growing end-use industries of barrier materials, which is projected to grow at a CAGR of 7.51% between 2015 and 2020. The barrier material market has a high growth potential in the next five years. Currently, the demand for barrier materials is driven by the dynamic growth in the food & beverage industry in Asia-Pacific and RoW regions.
The U.S. and China are at the forefront of barrier materials demand and Germany, France, India, Japan, and U.K. are the other key markets. China is the key market in Asia-Pacific, accounting for more than half of the demand for the barrier materials, followed by India, Japan, and Taiwan, where the demand is growing at a steady rate. Increase in the demand for PVDC, EVOH, and PEN has been observed in Asia-Pacific due to continued industrialization and growth of the manufacturing sector in the region. Food & beverage is projected to be the fastest-growing end-user industry, followed by the cosmetic-segment between 2015 and 2020.
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The major market players of barrier materials include Kuraray Co., Ltd (Japan), The Dow Chemical Company (U.S.), E.I. DuPont de Numerous and Co. (U.S.), Solvay SA (Belgium), and Chang Chun Petrochemical Co., Ltd (Taiwan).
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