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Barrier Resins Market Trends

Report ID: GMI7800
Published Date: Jan 2024
Report Format: PDF

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Barrier Resins Market Trends

Current trends in the market showcase a dynamic landscape shaped by technological advancements and changing consumer preferences. A notable trend involves the increasing focus on sustainable and recyclable barrier resins, reflecting the industry's response to growing environmental concerns. Manufacturers are investing in the development of eco-friendly formulations to align with global sustainability goals.

Additionally, there is a rising demand for high-performance barrier resins in flexible and rigid packaging, driven by the expanding food and beverage, pharmaceutical, and cosmetic industries. The market is witnessing innovations in barrier technologies, enhancing product functionality and versatility. Collaborations and strategic partnerships among key players are becoming prevalent, fostering a collaborative environment for research and development. Overall, the market is evolving to meet the dual challenges of environmental responsibility and heightened performance expectations from diverse end-use sectors.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Barrier resins industry was valued at around USD 13.76 billion in 2023 and is estimated to reach USD 22,098.2 Million by the end of 2032 driven by the increasing demand for extended shelf life and enhanced preservation of products in these industries.

Ethylene Vinyl Alcohol (EVOH) segment held a market value of USD 3.49 billion in 2023 and will grow significantly through 2032 due to the increasing demand for advanced packaging solutions, particularly in the food & beverage industry.

The U.S. barrier resins market revenue was USD 1.06 billion in 2023, with expectations of continued expansion from 2024 to 2032 owing to the robust and technologically advanced packaging industry in the U.S., which is a major consumer of barrier resins.

Berry Global Inc., Borealis AG, China Petroleum & Chemical Corporation, Exxon Mobil Corporation, Formosa Plastics Group, INEOS, LG Chem, LyondellBasell Industries, Mitsubishi Chemical Corporation, SABIC, Solvay, The Dow Chemical Company, Toyo Seikan Group Holdings Co., Ltd., and Westlake Chemical Corporation.