DUBLIN, Dec. 09, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/jsvwqp/barrier_materials) has announced the addition of the "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" report to their offering.
The global barrier material market was valued at USD 1.74 Billion in 2014 and is expected to reach USD 2.64 Billion by 2020, at a CAGR of 7.26%, between 2015 and 2020
The barrier materials market has witnessed a significant growth in the recent years, which is projected to persist in the coming years. Owing to their properties of resistance against water vapor, atmospheric gases, and aroma, barrier materials are used in a wide range of end-use industries such as food & beverage, pharmaceutical, cosmetic, and agriculture packaging applications.
The major types of barrier materials include PVDC, EVOH, and PEN. The demand for barrier materials is expected to be high across industries such as food & beverage, pharmaceutical, cosmetic, and agriculture.
The barrier material market is observing a huge number of opportunities from which future growth is expected. The Supply-demand gap in raw materials and safeguarding against counterfeit products are the major challenges in the barrier materials market.
Currently, Asia-Pacific is the biggest market of barrier materials, accounting for nearly 42.37% of the total market size, in terms of value, in 2014. China dominates the barrier materials market, globally, which had the maximum market share in 2014, closely followed by the U.S. PVDC is the largest consumed type of barrier material, followed by EVOH.
On the basis of end-user industry, the barrier materials market is further categorized into food & beverage, pharmaceutical, cosmetic, and agriculture, and others. In terms of volume, the food & beverage segment accounted for the largest share of 48.13% of the barrier materials market in 2014, while, the market share for pharmaceutical was estimated to be 24.35%. The food & beverage end-user application of barrier materials is projected to grow at the highest CAGR of 5.20% between 2015 and 2020, in terms of volume. The growth in end user-segment is primarily driven by the growing food & beverage and pharmaceutical industries, mainly in the developing nations.
The increasing demand from emerging economies, such as China and India for barrier materials, enhanced shelf-life of packaged food products and upward growth for pharmaceutical packaging industry are factors that drive the barrier materials market in the Asia-Pacific region. In contrast to this, increasing to overall packaged products and stringent health regulatory compliance standards, environmental, and political norms act as major restraining factors hampering its market growth.
- Ashahi Kasei Corporation
- Chang Chun Petrochemical Co., Ltd.
- E. I. Du Pont De Nemours and Company
- Kuraray Co., Ltd.
- Kureha Corporation
- Solvay SA
- Teijin Limited
- The Dow Chemical Company
- The Nippon Synthetic Chemical Industry Co., Ltd. (Nippon Gohsei)
- Zhejiang Juhua Co., Ltd.
For more information visit http://www.researchandmarkets.com/research/jsvwqp/barrier_materials
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SOURCE Research and Markets