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Barrier Resins Market Share, Growth, Size 2022 Outlook 2031: Top Companies, Trends and, Factors Details for Business Development

Kenneth Research recently added a report on Barrier Resins Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that, Europe is the second largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years. In the year 2018, out of the top 10 chemical producing countries in the world, two countries belonged to Europe that generated a sales revenue of 19.1% of the total sales revenue globally. Moreover, the sales of chemicals in Europe grew from 2017 by 2.8% in 2018.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Barrier Resins Market products.

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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.

The Barrier Resins Market is predicted to grow with a robust CAGR during the forecast period. Some of the significant factors that are anticipated to drive the market are the growing investments from the multinational companies in several nations worldwide to develop production facilities that can promote the production growth, backed by the rising need for chemicals from several end-user industries for different end-use purposes. According to the statistical report titled “Global Chemicals Outlook II”, published by the United Nations Environment Programme, the global chemical industry’s production capacity almost doubled to reach 2.3 billion tonnes in the year 2017 from 1.2 billion tonnes in the year 2000. Moreover, increasing spending on research and innovation (R&I) for the development of advanced chemicals is also anticipated to drive the growth of the market over the forecast period.

Product Overview
Resin is a natural element found in various plants in coniferous trees. In polymer chemistry, resin is a thick and sticky material which can be converted into polymers. Such thick and sticky substances can be plant derived or synthetic by nature. More frequently, resins are combinations of organic compounds. Plants generally produce resin in order to save themselves from injury. The resin thus acts as a protecting cover that protects the plant from parasites and other microorganisms. In business trade, organic compound is used as an artificial material that used produce food glazing, adhesives, varnishes, nail paints and perfumes etc.

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Market Size and Forecast
The global barrier resins market is projected to grow at a CAGR around 5% from 2017 to 2027 in terms of value. It is anticipated to reach around 6 Bn by end of 2027.

The global barrier resins market can be segmented on the basis of product type, application and by region. Moreover, on the basis of application it is further sub segmented into agricultural industrial, chemical industries, food & beverage, personal care & cosmetics and pharmaceutical & medical. The growth in the pharmaceutical packaging industry in emerging economies is fueled by improved shelf life of packaged food product, rising urbanization and changing lifestyles, parallel boosting the demand for barriers resins.

By region, global barrier resins market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. Asia-Pacific barrier resins market hold largest share globally. The high product demand across the region can be attributed to stable economic growth along with expansion in food and agriculture industry. The changing demographic and income trends along with changing food habits are key factors driving regional demand. Middle East & Africa is expected to witness considerable growth rate in forecast period on the account of development in packaging industry. The shift in retailer view towards packaging as promoting tool rather than product protection will provide positive outlook for product demand. The expansion in cosmetics industry on the account of rising consumer demand will drive barrier resins market size.
Market Segmentation
Our in-depth analysis segmented the global barrier resins market in the following segments:

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By Product Type
EVOH (Ethylene vinyl alcohol)
PEN(Polyethylene naphthalate)
PVDC (Polyvinylidene chloride)

By Application Type
Agricultural Industrial
Chemical Industries
Food & Beverage
Personal Care & Cosmetics
Pharmaceutical & Medical

By Region
Global barrier resins market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis

Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.
Growth Drivers and Challenges

The growth in the consumer goods industry is propelling the demand for barrier resins all across the globe. FMCG are the products that are sold quickly and comparatively at a low cost are anticipated to support the development of the barrier resins market. The increasing consumer consciousness concerning healthy eating and buying of fresh foods merchandise with increased safety packaging is that the most vital driver for the barrier organic compound market. Increased shelf life and safety packaging of processed food products coupled with rising urbanization, which in turn, is the main driving factor for the barrier resins market. Growing research and development activities has created large space for improvement in barriers resin market. Many scientist and researchers are creating new polymer that more effective and budget friendly. The growth in the barrier resin market is fueled by increasing demand from commercial and packaging industry.

Key Players
Asahi Kasei Corporation
Du pont de nemours and company
Chang chun petrochemical co. ltd
Kurray Co. Solvay S.A
INVISTA
Teijin Limited
The Nippon synthetic chemical industry co Ltd
Zheijang Juhua Co, Ltd,
Honeywell international Inc
Ineos Group Limited.

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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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