2020 Analysis and Review: Packaging Barrier Films Market by Barrier Type – Low Barrier, Medium Barrier, High Barrier, and Ultra High Barrier for 2020 - 2030
The packaging barrier films market is anticipated to surpass a valuation of US$ 13 Bn by the conclusion of the assessment period in 2027. The packaging barrier films market is expected to face a number of challenges owing to the coronavirus pandemic as costs of labor, raw materials, power, and transport has increased. On the other hand, while demand for packaging barrier films has fallen marginally, many countries have designated packaging films as essential items, which has proven useful to sustain operations throughout the crisis period.
"Stand-up pouches made from barrier films are rapidly replacing plastic and glass packaging alternatives owing to lower costs and higher convenience levels. Further, packaging barrier films use lesser materials and are lighter than rigid packaging options, thereby boosting adoption and revenues," says the FMI analyst.
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Packaging Barrier Films - Key Takeaways
Pharmaceutical applications are anticipated to contribute significantly to revenues, driven by higher investments in healthcare and drug formulations that require protection from contaminants.
PET based packaging films are highly sought after owing to superior barrier characteristics against oxygen and water vapor.
Asia Pacific is displaying high production and consumption of packaging barrier films owing to extensive pharma and processed food packaging applications.
Packaging Barrier Films - Driving Factors
Niche applications of barrier films in packaging of electronic items such as OLED and photovoltaic material generates lucrative opportunities.
Cost benefits for end user industries in logistics and material costs are a key factor that drive the adoption of packaging barrier films.
Packaging Barrier Films - Key Constraints
Environmental concerns associated with the production and disposal of conventional packaging barrier films hurt market prospects.
Lack of adequate recycling facilities and technologies for flexible packaging formats hold back market growth.
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The Anticipated Impact of Coronavirus
The coronavirus pandemic will negatively impact the packaging barrier films market owing to high production costs from fluctuating raw material supplies, and shortage of manpower. In addition, the lockdown has caused suspension of production, and disrupted supply chains in the short term. However, the designation of barrier packaging films as essential items, and applications in FMCG sector will help players to sustain operations and partially cut losses during the crisis period.
Leading players in the packaging barrier films market include but are not limited to KOROZO Ambalaj San.ve Tic A.S, Amcor Ltd., VF Verpackungen GmbH, Bemis Company Inc., Lietpak, Uflex Ltd., Flexopack SA, Sealed Air Corp., Sudpack Verpackungen GmbH & Co. KG, Mondi plc, Supravis Group SA, and Huhtamaki Oyj.
Manufacturers are primarily pushing for circular economy initiatives to set up recycling facilities and developing recyclable or biodegradable packaging barrier film options, to bolster portfolios and meet consumer bias towards eco-friendly products.
For instance, Mondi plc has collaborated with Hutthaler for the development of a completely recyclable, mono-material, thermoforming barrier film for meat packaging applications. Innovia Films has collaborated with Wildcorn for fully recyclable packaging barrier film pouches for its popcorn products. Also, Amcor Ltd. has unveiled AmLite, a polyolefin, ultra-recyclable packaging film for food, personal care, and pharma packaging applications.
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More About the Report
The FMI's market research report offers detailed insights on packaging barrier films. The market is scrutinized on the basis of application (pouches, blister pack base web, shrink films, stretch wrap, sachets, and lids), material (PE, BOPET, PP, Aluminum, Inorganic oxides, nylon, PVDC, EVOH, and others), barrier type (low, medium, high, and ultra-high), end use (food & beverages, pharmaceuticals, personal care, home care, and electronics) and film type (metallized films, inorganic oxide coated films, organic coated, and coextruded films), across five key regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Name: Abhishek Budholiya
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Organization: Future Market Insights
Release ID: 89005498