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“The barrier films market is projected to grow at a CAGR of 5.0% during the forecast period, in terms of value.”
The barrier films market is estimated to be USD 22.44 billion in 2017 and is projected to reach USD 28.58 billion by 2022, at a CAGR of 5.0% from 2017 to 2022. The growth of barrier films market can be attributed to the rising demand for barrier films from various end-use industries, such as food & beverage packaging, pharmaceutical packaging, and agriculture. Increase in the number of retail chains in Asia Pacific, Europe, and North America is projected to drive the growth of the barrier films market. However, volatile prices of raw materials are acting as a restraint to the growth of the barrier films market.
“Based on end-use industry, the agriculture segment is projected to grow at the highest CAGR during the forecast period both, in terms of value and volume.”
Based on end-use industry, the agriculture segment of the barrier films market is projected to grow at the highest CAGR between 2017 and 2022 both, in terms of value and volume. This growth can be attributed to the increasing demand for mulch and silage films from the agriculture industry. Silage films help maintain the nutritional value of plants. These films assist in the protection and storage of plants, thereby maintaining optimum humidity to control fermentation. The use of mulch films in agricultural farms helps reduce the water usage up to 75%, as these films reduce evaporation, prevent the growth of weeds, and increase penetration of rainwater. These advantages of mulch films are expected to drive the demand for barrier films in the agriculture industry.
“The barrier films market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period.”
The Asia Pacific region led the barrier films market in 2016, owing to the increased demand for barrier films in packaging applications, especially in the food & beverage industry. Increase in the number of retail chains and the demand for customer-friendly packaging are additional factors projected to drive the growth of the barrier films market in the Asia Pacific region. Rising income levels of consumers and increasing population are also contributing to the growth of the barrier films market in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted as follows:
- By Company Type: Tier 1 (43%), Tier 2 (36%), and Tier 3 (21%)
- By Designation: C-Level (21%), D-Level (29%), and Others (50%)
- By Region: North America (36%), Europe (36%), Asia Pacific (21%), Middle East & Africa (7%)
Key players profiled in the report include Amcor (Australia), Sealed Air (US), Bemis (US), Toppan Printing (Russia), Cosmo Films (India), Jindal Poly Films (India), Berry Global (US), DuPont Teijin Films (US), Uflex (India), Sumitomo Chemical Co. (Japan), Mitsubishi Chemical Holdings Corporation (Tokyo), and Honeywell International (US).
The report estimates the barrier films market, in terms of volume and value, and forecasts the market size till 2022. It includes market segmentation based on material, end-use industry, and region. The report also provides company profiles and competitive strategies adopted by key players in the barrier films market.
Key Benefits of Buying the Report:
This research report is focused on various levels of analysis?industry trends, market share analysis of key players, supply chain analysis, and company profiles, which together comprise and discuss overall views on the competitive landscape; emerging and high-growth segments of the barrier films market; high-growth regions; and market drivers, restraints, opportunities, and challenges.