Global Barrier Film Market Analysis, By Type (PE, PET, PP, Organic Coatings, Polyamide, Inorganic Oxide Coatings) By End-Use (Food & Beverage Packaging, Pharmaceutical Packaging, Personal care, others), By Grade (Single-layer, Multi-layer) By Region, Competition Forecast & Opportunities, 2015-2030
Global High Barrier Film demand stood at 1.05 Million Tonnes in 2020 and is forecast to reach 2.10 Million Tonnes by 2030, growing at a healthy CAGR of 6.59% until 2030. High barrier films are flexible films that prevent oxygen water, light and other elements from entering or exiting a product’s packaging. The added advantage over conventional films such as resealable zippers & sliders, faster machining speed, increased heat tolerance, extend shelf life, etc are making it a preferred material for packaging application. Packaging demand is highly influenced by economic cycle. By end use, the market is segmented into Food & Beverage, Pharmaceutical, Agriculture, Others. Consumer spending on food and beverage market provides higher stability over economy cycle and thus compared to non-food application making it a dominating segment in global barrier film end use market. Based on material, the market is segmented into PE, PET, PP, Organic Coatings, Polyamide, Inorganic Oxide Coatings. Due to its excellent moisture barrier properties PE holds the major share in the global barrier film market. Multi-layer film barriers generally are preferred over single layered in the application where special applications are required such as pharmaceutical products where specific environment conditions are must.
Due to the outbreak of COVID-19 in 2020, the world economy was disrupted. The market was affected drastically, and production and manufacturing units were shut down. Furthermore, the major market players intentionally halted the production keeping their employee’s health and wellness in mind. With imposed new regulations of the COVID-19 and proper precautions, the market is anticipated to regain its growth in the years to come. The pandemic is slowly being subsided and the effects are tried to be overcome by various methods. Once the market regains the full function of its production unit, the market is bound to show a robust growth in the forecast period. Although, the widespread of Covid-19 pandemic also created a sudden surge in the demand of Film barrier from Pharmaceutical packaging. Also, for non-food & beverage application, the demand of film barrier is expected to rise from cosmetics and pharmaceuticals for the forecasted period that probably would recover the setback and regain the growth rate of the market.
Asia Pacific accounted for the largest share of global barrier film market. Packaging industry has grown rapidly in last decade from emerging nations such as China, India, Indonesia and is further expected to grow at healthy rate on account of growing affluent middle class, more preference for ready to eat foods, smaller packaging unit and booming online shopping market. Enhanced product portfolio from major consumer goods companies in the region is expected to further propel the market for the forecasted period.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
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