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.
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.
Our in-depth analysis segmented the global barrier resins market in the following segments:
By Product Type
By Application Type
Global barrier resins market is further classified on the basis of region as follows:
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.
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