Increasing Demand for Packaged Food Products and Launch New Products to Augment Growth of High Barrier Film and Coatings Market

 

High Barrier Film and Coatings Market

High barrier film and coatings are used in preservation and protection of packaged products against moisture, heat, or light. They are also used in manufacture of printed electronics. High-barrier films are used in many industries and environments to control the entry of certain particles, gases or liquids. These barriers can be produced from a variety of materials including polyethylene, polycarbonate, polypropylene, or silver nitride. They are also used for the control of temperature in many industrial processes and to protect sensitive equipment from damage. The protective nature of these films means that they are often applied to enclosed areas, such as ductwork, or to non-pressurized surfaces, such as tanks or pipes.

Market Dynamics                  

Increasing demand for packaged food products is expected to propel growth of the global high barrier film and coatings market. For instance, according to the U.S Department of Agriculture, export of prepared food from U.S. increased from US$ 5, 849 million in 2015 to US$ 6,682 million in 2019. Moreover, launch of new products is also expected to aid in growth of the market. For instance, in February 2021, Toyobo Co., Ltd. reported development of a new biaxially oriented polypropylene film with high gas barrier function for mono-material packaging.

Increasing demand for fast moving consumer goods (FMCG) is expected to offer lucrative growth opportunities for players in the global high barrier film and coatings market. For instance, according to India Brand Equity Foundation, FMCG market in India is expected to grow at a CAGR of 27.86 per cent and is expected to reach US$ 103.70 billion by 2020 from US$ 52.75 billion in FY18.

Among regions, Asia Pacific is expected to witness significant growth in the high barrier film and coatings market, owing to growing electronics sector in the region. For instance, according to India Brand Equity Foundation, the electronics market in India is expected to witness a CAGR of 24.4% during 2012–20. 

Competitive Analysis

Major players operating in the global high barrier film and coatings market include, Bemis Company Inc., Amcor Limited, Berry Global Group PLC, Mondi Group, ACG, Glenroy, Inc., Cosmo Films, Innovia Films Limited, AMPAC Holdings, LLC, and Winpak Ltd.

Major players operating in the global high barrier film and coatings market are focused on launching new products to expand their product portfolio. For instance, in June 2019, Innovia Films Limited launched Strata SL, a new range of transparent high barrier packaging films. 

Comments

Post a Comment

Popular posts from this blog

Bourbon Whiskey Is the Most Popular Whiskey in America and In Many Other Countries around the World

Image
  Whiskey or single malt whiskey is simply a form of distilled beverage made by distilling alcohol from grain mash or even by blending both. Different grains are utilized for different types, such as corn, barley, rye, and wheat. In Scotland, they call their whiskey black tea, a lighter caramel scotch, Irish cream, and liqueur. Whichever form is utilized, the result is usually a flavorful and smooth drink that has a distinct taste, and many people prefer a whiskey with a lower alcohol content. For example, single malt whiskey is the least expensive. The highest price however is the least distilled; that is Bourbon whiskey. Bourbon whiskey is the most popular whiskey in America and in many other countries around the world. Its price range is very wide, starting from as low as about US$ 12 a bottle to over a hundred dollars. So the price definitely varies. Whichever class you belong to, there is always a whiskey that will suit your preference. Single malt scotch whiskey is made ...
Read more

Viral Vectors And Plasmid DNA Manufacturing Market Is Gaining Major Traction With Oxford Biomedica Plc Entering Into A 3-Year Agreement With Boehringer Ingelheim For The Manufacture And Supply Of Various Types Of Viral Vectors

Image
  Viral Vectors are proteins that have been discovered to be essential for the spread of various viruses and infectious agents. These proteins can cause serious health risks if they are improperly introduced or if a wrong agent is used to fight them off. Viral vectors have often been used in various gene therapy procedures with the ultimate objective of curing various ailments in the biological fields of neurology, gene therapy, cancer, and metabolic disorder. Clinical studies regarding viral vectors remain one of the key factors in the manufacturing of viral vectors. Plasmids are used to deliver DNA contain genes for antibiotic resistance. In fact, scientists have developed many uses of plasmids and created software to record the DNA sequences of plasmids for applications in various techniques. Thus, such continuous R&D activities can potentially stimulate growth of the viral vectors and plasmid DNA manufacturing market . Recently, in April 2021, Oxford Biomedica plc entered...
Read more

Hard Surface Flooring Market Is Expected To Witness Robust Growth As Mohawk Industries Introduces Newly Imagined 30,000-Square Foot Floor Space At The International Surface Event (TISE)

Image
  There are many reasons why people choose hard surface floors over other types of flooring. Hard surfaces offer a level of durability and are very aesthetically pleasing. Unfortunately, choosing this type of flooring can be confusing and costly. There are four main hard surface varieties namely vinyl plank, laminate, solid hardwood, and engineered wood. Each has their own style strengths and provide different advantages. Increasing population coupled with rapid urbanization is expected to drive growth of the global hard surface flooring market . According to the United Nations (UN), by 2050, around 68% of the global population is expected to live in urban areas, increasing from 55% in 2018. According to the same source, in 2018, around 4.2 billion people were living in urban areas, increasing from 751 million in 1950. Furthermore, according to the World Bank, in 2019, the global population reached 7.674 billion, increasing from 6.84 billion in 2009. As a result of this, building...
Read more