Zion Market Research has published a new report titled “Barrier Materials Market by Type (PEN, PVDC, EVOH, and Others) for Agriculture, Pharmaceuticals, Food & Beverage Industry and Others Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.” According to the report, the global barrier materials market was valued at USD 1.70 billion in 2014 and is expected to generate revenue of USD 2.50 billion by end of 2020, growing at a CAGR of 7.0% between 2015 and 2020. In terms of volume, the global barrier materials market stood at 121.83-kilo tons in 2014.
The barrier material is special kind of material that primarily employed in the packaging industry to stop access to liquids, gases, dust, dirt or radiation. As the name suggests, barrier material acts as a barrier and prevents contamination from various elements and helps to maintain the quality of the products for a longer time. Therefore, this material has the broad range of applications that include consumer goods, food and beverages, pharmaceuticals, and automotive amongst others.
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Based on the material type, barrier materials market is segmented as PEN, PVDC, EVOH and others. Among all, PVDC is the dominating material segment that accounted over 40% share of the overall market in 2014. In addition, EVOH is another promising material that is predicted to have lucrative growth during the years to come as it offers strong flexibility and transparency. Due to this attributes, this material will have strong demand especially from food and beverage sector as well as pharmaceuticals industry.
Agriculture, pharmaceuticals, food and beverages industry and others are some major end applications of the global barrier materials market. Food and beverages industry sector was leading segment that accounted around 45% share of the total market in 2014. Further it is expected to remain prolong application due to growing demand for the packed food and support from regulatory bodies such as FDA. Moreover, pharmaceutical is also important application that is projected to grow at strong CAGR during the forecast period.
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In terms of region, Asia Pacific was largest market for barrier materials in 2014. China generated major revenue in Asia Pacific region, and also demand from India and Japan is significantly growing. North America and Europe are also expected to fuel market growth for barrier materials due to strong demand of packed foods and fruits.
Some of the key players of the global barrier materials market include Asahi Kasei Chemicals Corporation, Chang Chun Petrochemical Co., Ltd, the Dow Chemical Company, E. I. Du Pont de Numerous and Co., Solvay SA, Kuraray Co., Ltd and Teijin Limited amongst others.
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