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Barrier Resins Global Market Report 2024 - By Size, Demand, Share And Trends, Forecast To 2033
Barrier Resins Market
As per the report, the barrier resins market size has grown strongly in recent years. It will grow from $3.64 billion in 2023 to $3.88 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The barrier resins market size is expected to see strong growth in the next few years. It will grow to $5.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
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Prolonged Food Freshness Drives Growth In The Barrier Resins Market
An increase in demand for the longer shelf life of food products is contributing to the growth of the barrier resins market. There has been an increasing demand for food products with a longer shelf life. Barrier resins are used in the food and beverage packaging industry to protect packed goods from moisture and to prevent gas penetration. They provide enhanced shelf life and consistency and prevent odours and UV rays from entering the container, thus protecting the vitamin content of the food. In UAE-based FMCG company Truebell saw a threefold increase in demand for long-shelf-life products. The company saw an increase in the popularity of long-shelf-life food products and baking ingredients, along with an increase in the consumption of home-cooked meals. Thus, the growth in demand for a longer shelf life of food products will drive the growth of the barrier resins market.
Covestro'S Decovery Cq 6010 Resin Reshaping The Barrier Resins Market
Major companies operating in the barrier resins are innovating new products such as Decovery CQ 6010 to increase their profitability in the market. Decovery CQ 6010 is a partially bio-based resin. For instance, in May 2023, Covestro AG, a Germany-based material company launched Decovery CQ 6010. It is suited for a variety of culinary applications since it is made to withstand oil and grease and protect moisture barriers. The resin is openly obtained from maize, castor beans, and bark, making about 37% of its composition. Decovery CQ 6010 has a much less carbon footprint than virgin PE and conventional fossil-based coatings.
The barrier resins market covered in this report is segmented -
1) By Packaging Type: Flexible Packaging, Rigid Packaging
2) By Resin Type: Polyvinylidene Chloride, Ethylene Vinyl Alcohol, Polyethylene Naphthalate, Polyamide, Polyethylene Terephthalate, Polyethylene, Polypropylene, Polyvinyl Alcohol, Other Resin Types
3) By Application: Food And Beverage, Pharmaceutical And Medical, Cosmetics, Agriculture, Industrial, Other Applications
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Major companies operating in the barrier resins market include Kuraray Co. Ltd., The Dow Chemical Company, Tenjin Limited, Asahi Kasei Corporation, Solvay International SA, E.I. du Pont de Nemours and Company, Nspec Ethylene Oxide and Specialities, LyondellBasell Industries NV, Honeywell International Inc., Mitsui Chemicals Inc., LG Chem Ltd., INVISTA Textiles UK Ltd., Chang Chun Petrochemical Co. Ltd., Mitsubishi Chemical Corporation, Valspar Corporation, Saudi Basic Industries Corporation, Borealis Ag, China Petroleum & Chemical Corporation, Braskem S.A., Hanwha TotalEnergies Petrochemical Co. Ltd., NOVA Chemicals Corporation, EVAL Europe N.V, Zhejiang Juhua Co. Ltd., Toray Industries Inc., Mitsubishi Gas Chemical Company Inc., Elion Technology Co. Ltd., Kureha Corporation, Kuraray America Inc., Eastman Chemical Company, Exxon Corporation., Chevron Phillips Chemical Company LLC, Berry Global Inc., Sealed Air Corporation, Amcor Limited, Bemis Company Inc., Sumitomo Chemical Co. Ltd., Daikin Industries Ltd.
Contents of the report:
1. Executive Summary
2. Barrier Resins Market Report Structure
3. Barrier Resins Market Trends And Strategies
4. Barrier Resins Market - Macro Economic Scenario
5. Barrier Resins Market Size And Growth
…..
27. Barrier Resins Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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