Functional Additives And Barrier Coatings Market Helps to Extend the Product Life as well as Improves the Appearance by Removing the Extra Oxygen in the Closed Packed Product

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Packaging is the largest industry that uses functional additives and barrier coatings; they are used in packaging as they improve processing and manufacturing performance, and provide materials to have the assortment of enhanced properties. The functional additives and barrier coatings modify the packaging properties to give desired functions. There are various types of functional additives and barrier coatings such as antioxidants, blowing agents, anti-block agents, clarifying agents, impact modifiers, UV stabilizers, antimicrobial agents, and brightness agents. The oxygen scavenger functional additives and barrier coatings are the widely used in packaging which helps to extend the product life as well as improves the appearance by removing the extra oxygen in the closed packed product. UV stabilizer functional additives and barrier coatings are added to packaging to protect the packaging and content from UV along with infrared radiations from sunlight. The antistatic functional additives and barrier coatings are added to packaging to avoid or lessen the effect of static electricity on the content.

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Global Functional Additives and Barrier Coatings Market: Market Dynamics

The upsurge in demand for global functional additives and barrier coatings market is due to the various functions provided by functional additives and barrier coatings such as antistatic, protection from harmful rays, antimicrobial, and much more. The demand for functional additives and barrier coatings is rising faster than plastic packaging as the manufacturers are looking for low-cost solutions that are provided by functional additives and barrier coatings. The functional additives and barrier coatings market is expected to rise as growth in the consumer’s demand for greater protection of the products. Moreover, increasing demand for PET bottles that provides UV protection which in turn expand the demand for functional additives and barrier coatings in the near future. Enhancement in the innovative technological and expanding packaging industry is driving the functional additives and barrier coatings market.

Global Functional Additives and Barrier Coatings Market: Market segmentation

The global functional additives and barrier coatings market has been classified by product type, application, and end user.

Based on product type, the global functional additives and barrier coatings market is segmented into following:

Oxygen Scavenger

UV Stabilizer

Antistatic Additives

Antimicrobial Agent

Antioxidant Additive

By application, the global functional additives and barrier coatings market is segmented into following:

Polyolefin

Styrene

PVC

Elastomers & Latex

Based on end users, the global functional additives and barrier coatings market is segmented into following:

Food & Beverage Industry

Pharmaceutical Industry

Cosmetic and Personal Care

Healthcare

Global Functional Additives and Barrier Coatings Market: Overview

Food & beverage industry has the higher rate of usage of functional additives and barrier coatings for plastic products. Based on product type, oxygen scavenger functional additives and barrier coatings are the widely preferred among others owing to its advanced properties. Based on the geographies, the global functional additives and barrier coatings market is classified into seven key regions include North America, Latin America, Eastern Europe, and Western Europe, Asia Pacific except Japan, Japan, and Middle East & Africa. Among the regions mentioned above, Asia Pacific except Japan is the largest consumer of functional additives and barrier coatings followed by Western Europe is expected to continue to be the highest growing market for functional additives and barrier coatings market for the forecast period. North America and Eastern Europe is projected to have a steady growth. Japan and Latin America is expected to show a sluggish growth rate during the forecast period. The global functional additives and barrier coatings market is projected to have a positive growth owing to growth in cosmetic and personal care as well as the healthcare industry.

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Global Functional Additives and Barrier Coatings Market: Key Players

Some of the market participants identified in the global functional additives and barrier coatings market include DuPont, Clariant Chemicals Ltd., Addivant USA, LLC, Cytec Solvay Group, SONGWON Industrial Co., Ltd., BASF Corporation, and others.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
Prospects of each segment
Overall current and possible future size of the market
Growth pace of the market
Competitive landscape and key players’ strategies

The main aim of the report is to:

Enable key stakeholder’s in the market bet right on it
Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution

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