Barrier Films Market Worth 28.58 Billion USD by 2022
PUNE, India, January 31, 2018 /PRNewswire/ --
The report "Barrier Films Market by Material (PE, PET, PP, PA, Organic Coatings, Inorganic Coatings), End-Use Industry (Food & Beverage Packaging, Pharmaceutical Packaging, Agriculture), Region (Asia Pacific, North America, Europe) - Global Forecast to 2022" published by MarketsandMarkets™, the market is estimated to be USD 22.44 Billion in 2017 and is projected to reach USD 28.58 Billion by 2022, at a CAGR of 5.0% from 2017 to 2022. The growth of the Barrier Films Market can be attributed to the increasing demand for barrier films in various end-use industries, such as food & beverage packaging, pharmaceutical packaging, and agriculture. The increased use of barrier films in flexible electronics is also contributing to the growth of the Barrier Films Market.
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Browse 77 market data Tables and 36 Figures spread through 132 Pages and in-depth TOC on "Barrier Films Market"
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Based on material, the inorganic oxide coatings segment is projected to grow at the highest CAGR during the forecast period.
Inorganic oxide coatings, such as Ethylene Vinyl Alcohol (EVOH) and Polyvinylidene Chloride (PVDC), are used in the development of barrier films. Based on material, the inorganic oxide coatings segment of the Barrier Films Market is projected to grow at the highest CAGR during the forecast period both, in terms of value and volume. This growth can be attributed to the superior properties of EVOH that include improved flexibility and excellent barrier against oxygen, nitrogen, and carbon dioxide. PVDC prevents oxidation, moisture loss, and aroma and odor transfer. These characteristics of EVOH and PVDC make them suitable materials for packaging applications, especially in the food & beverage, pharmaceutical, and agriculture industries, thereby contributing to the growth of the inorganic oxide coatings segment.
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Based on end-use industry, the agriculture segment is expected to grow at the highest CAGR during the forecast period.
Based on end-use industry, the agriculture segment of the Barrier Films Market is projected to grow at the highest CAGR between 2017 and 2022 both, in terms of value and volume. This growth can be attributed to the increasing use of barrier films for fumigation. The food & beverage packaging and pharmaceutical packaging segments are also projected to witness growth, owing to the high demand for barrier films in packaging applications.
The Barrier Films Market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period.
Asia Pacific is estimated to be the fastest-growing regional market for barrier films in 2017, owing to the presence of key players, such as Jindal Poly Films, Cosmo Films, and Uflex. The Barrier Films Market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period both, in terms of value and volume. This growth is mainly driven by the increasing applicability of barrier films in various end-use industries, such as food & beverage packaging and pharmaceutical packaging. The agriculture end-use industry in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period both, in terms of value and volume. This growth can be attributed to the high demand for silage films and mulch films from the agriculture sector.
Key players in the Barrier Films Market
Key companies operating in the Barrier Films Market include Amcor (Australia), Sealed Air (US), Bemis (US), Toppan Printing (Russia), Cosmo Films (India), Jindal Poly Films (India), and Berry Global (US).
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