Barrier Resins Market | Key players operating in the market include LyondellBasell, Kuraray, Exxon Mobil, Dow

According to recent market research "Barrier Resins Market by Type (PVDC, EVOH, PEN), Application (Food & Beverage, Pharmaceutical & Medical, Cosmetics, Agriculture, Industrial), and Region (Asia-Pacific, North America, Europe, South America, Middle East & Africa) - Global Forecast to 2026", published by MarketsandMarkets, The barrier resins market exhibits high growth potential and is projected to reach a market size of USD 16.6 billion by 2026 from USD 12.4 billion in 2021, at a CAGR of 5.9 %. The market growth is being lead by the ease of use and customization of barrier resins products. APAC region is the largest market for barrier resins.

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PVDC has been a staple part of food packaging for a long time but in recent years alternatives for PVDC has been developed which are more sustainable and less harmful. PVDC disintegrates at a comparatively lower temperature which creates an issue in recycling. EU recently banned or restricted the use of PVDC in various regions. The latest G7 summit focused on reducing carbon footprint and sustainable practices, even with the concerns PVDC markets shows growth driven by high barrier properties and the reduced waste in supply chain. The increase in flexible food packaging increases the demand of PVDC resins.

Advancement in manufacturing techniques and continuous development in the barrier resins have resulted in increasing demand of barrier resins in the pharmaceutical industry. This growth is expected to be the highest in the emerging economies such as Brazil, India, and China, as it is supported by increase in wealth and growing consciousness about improved healthcare facilities and healthier lifestyles. The COVID-19 outbreak increased the demand of single use and packaged medical products which resulted in increased demand of barrier resins as well.

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The barrier resins market exhibits high growth potential and is projected to reach a market size of USD 16.6 billion by 2026 from USD 12.4 billion in 2021, at a CAGR of 5.9 %. The market growth is being led by the ease of use and customization of barrier resins products. They provide great protection against moisture, UV rays, heat and many more external factors. They do not react with the chemicals being stored in them and protects their integrity. The growing demand in the packaging industry specially in food & beverage. APAC region is the largest market for barrier resins. Barrier resins are preferred over traditional packaging for being lightweight, customizable, moisture and leak-proof qualities, and ease of use. The only major concern was the environmental impact of non-biodegradable films which is getting slowly settled by the introduction of bio-based barrier resins.

These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, and partnership & agreement, to grow in the market. Investment & expansion and merger & acquisition were the key strategies adopted by the major players between 2018 and 2021. This strategy helped companies increasing their global presence, product portfolio, and market shares.

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Kuraray Co Ltd. is second in leading the barrier resins market. The company started with a purpose of commercializing synthetic rayon. The company has business in fibers & textiles and chemical segments. It produces barrier resins for agriculture, food & beverage, automotive, electronics, and other end-use industries. The company has business in APAC region and slowly developing in Europe.

Asahi Kasei Corporation is the leading company in the producing, processing, and selling of chemical products. It sells barrier resins through their subsidiary Asahi Kasei Chemical Corporation (Japan) as the leading producer of PVDC resins. It operates in various business segments including chemicals & fibers, homes & construction materials, electronics, health care, and others. The company serves customers in Japan & China mainly. The company is focused on developing global customer reach as an initiative they are building new plants including one in Changshu, Jiangsu, China. It has a wide range of barrier resins for applications, such as food, pharmaceuticals, and industrial. The company’s growth is driven by the flexible packaging market, which, in turn, drives the demand for barrier resins.

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