Market Research Future (MRFR) has published on the “Global High Barrier Packaging Plastics Market”.
The High Barrier Packaging Plastics market is estimated to register a CAGR of 4.51% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global High Barrier Packaging Plastics market—Amcor, MONDI, Sealed Air Corp, Winpak, Huhtamaki Oyj, Jindal Poly Films, Uflex, Cosmo Films, Glenroy Inc., and Dummore Corporation.
High Barrier Packaging Plastics Market Highlights
The global High Barrier Packaging Plastics market is accounted for to register a CAGR of 4.51% during the forecast period and is estimated to reach USD 4,67,405 Million by 2032.
The global High Barrier Packaging Plastics market is expected to be driven by the the increasing demand for High Barrier Packaging Plastics in food and beverages. High-barrier packaging plastics are a specialized category of materials engineered to offer exceptional resistance to external elements such as moisture, gases, light, and aromas. These polymers have excellent barrier qualities that guarantee the preservation and protection of the contents of the packaging, increasing shelf life and preserving product quality. They are the perfect option for packaging delicate goods that need to maintain their freshness and stability for an extended period because they are designed to function as a barrier against the absorption of oxygen, water vapor, carbon dioxide, and other gases. High barrier packaging plastics have special barrier qualities that are a result of their structure and composition.
These polymers are more resistant to outside influences because they frequently have multiple layers or contain sophisticated coatings and additives. Polyethylene (PE), Polypropylene (PP), Polyethylene Terephthalate (PET), Ethylene Vinyl Alcohol (EVOH), and other materials are frequently utilized in high-barrier packaging plastics. When these materials are combined in certain ways, a strong barrier is formed that keeps the contents of the package safe from contamination, spoiling, and deterioration from exposure to the elements. High-barrier packaging polymers are used in a wide range of sectors because of their adaptable protective qualities. They are often used in the food business to package perishable items such as meats, cheeses, snacks, and baked goods. By increasing the contents' shelf life and reducing waste, these polymers aid in maintaining the freshness of the contents.
The pharmaceutical and medical industries use high-barrier packaging plastics to preserve the safety and effectiveness of medications, medical equipment, and delicate healthcare products. High-barrier plastics are also used in the electronics sector to package delicate electronic parts so that gases and moisture don't interfere with their operation. Furthermore, high-barrier plastics are utilized in the beverage industry to package products like wines, spirits, and juices. The taste and quality of the beverages are preserved by these plastics, which protect them from light and oxygen. In the cosmetic and personal care sector, high-barrier packaging polymers are also widely used to package lotions, creams, and other beauty goods, shielding them from outside influences that can compromise their quality.
Segment Analysis
The global High Barrier Packaging Plastics market has been segmented based on type, product type, End Use, and Region.
Based on type, the global High Barrier Packaging Plastics market is segmented into Polyethylene (PE), Polypropylene (PP), Polyethylene Terephthalate (PET), Ethylene Vinyl Alcohol (EVOH), Others. The polypropylene segment accounted for the market share of ~37% in 2021. PP has a low water vapor transmission rate (WVTR), which means that it does not allow moisture to pass through it easily. This makes it a good choice for packaging foods and other products that need to be protected from moisture. PP is a transparent material, which means that it allows consumers to see the product inside the packaging. This is important for many food and beverage products.
Based on product type, the global High Barrier Packaging Plastics market is segmented into Bags and pouches, Containers, Lids, and Others. The containers segment accounted for the largest market share of ~62.7% in 2021. Containers for packaging can be manufactured using a variety of plastics, depending on the specific requirements of the packaging, such as durability, flexibility, and transparency. The growing demand for packaging containers can be attributed to various factors, including population growth, urbanization, e-commerce expansion, and increased consumer awareness of sustainability. As more products are shipped and sold online, the need for efficient and protective packaging has risen significantly.
Based on End Use, the global High Barrier Packaging Plastics market is segmented into Food and beverages, Pharmaceuticals, Chemicals, and Others. The food & beverages segment accounted for the largest market share of ~38.4% in 2021. High barrier plastic packaging offers a number of benefits for food and beverages, including extended shelf life, maintained quality, enhanced product safety, and reduced costs.
Regional Analysis
The global High Barrier Packaging Plastics market is segmented by region into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. The Asia-Pacific region is expected to account for the largest share of the market in 2032, due to the increasing demand for High Barrier Packaging Plastics in a variety of End Uses.
The sizable High Barrier Packaging Plastics industry in Asia-Pacific is likely to make the region the largest expanding global market for High Barrier Packaging Plastics. The North America high barrier plastics market is a strong and growing market with a number of opportunities for growth. However, the market also faces a number of challenges, such as high costs of raw materials, technical challenges, and environmental concerns. High barrier plastics manufacturers need to be aware of these challenges and develop strategies to overcome them in order to succeed in the market.
Key Findings of the Study
- The global High Barrier Packaging Plastics market is expected to reach USD 2,64,155.3 Million by 2032, at a CAGR of 5.26% during the forecast period.
- Asia-Pacific held the largest market share of 62.25 % in 2022.
- Based on type, the primary segment was attributed to holding the largest market in 2022, with an approximate market share of 87.12%.
- Based on product type, the flat-rolled segment was attributed to holding the largest market in 2022, with an approximate market share of 37.91%.
- Based on End Use, the automotive & transportation segment was attributed to holding the largest market in 2022, with an approximate market share of 25.73%.
- Alcoa Corporation, Century High Barrier Packaging Plastics Company, JW High Barrier Packaging Plastics, Kaiser High Barrier Packaging Plastics, Novelis High Barrier Packaging Plastics, C-KOE Metals, Norsk Hydro ASA, Rusal, Rio Tinto Group, Hindalco Industries Limited, NALCO, and National High Barrier Packaging Plastics Extrusion LLC
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Companies Covered | 15 |
Pages | 128 |
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