Top 5 Recent Development in Barrier Films Market

Browse 109 market data Tables and 67 Figures spread through 180 Pages and in-depth TOC on "Barrier Films Market"

The global barrier films market size is estimated at USD 30.1 billion in 2020 and is projected to reach USD 40.1 billion by 2025, at a CAGR of 5.3%, between 2020 and 2025. Barrier films are single-layered or multi-layered films, which are manufactured from polymeric materials such as PE (polyethylene), PP (polypropylene), PVC (polyvinyl chloride), PET (polyethylene terephthalate), BOPET (biaxially-oriented polyethylene terephthalate), PS (polystyrene), EVOH (ethylene vinyl alcohol), inorganic oxides, aluminum, and polyamide. These films are specifically used for the packaging of food materials to ensure longer shelf life of products. These are also used in agriculture, aerospace, pharmaceutical, automotive and electronics industries. These films provide barrier against gas, aroma, vapor, and moisture.

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Recent Developments

• In March 2020, Berry Global Inc. planned to invest USD 30 million for upgrades and new lines to existing assets in nine of the company’s North American locations. This investment is to increase the production capacity of ultra-high performance stretch films. This organic growth strategy was adopted to cater to the growing demand for stretch films and fortify position in the North America market.
• In September 2020, Amcor Plc developed first recyclable retort flexible packaging with improved environmental footprint of packaging to 60% (approximately). This will allow recycling of high-performance packaging, such as wet pet food, ready-meals, baby foods, and pre-cooked soups. This new product development will help the company cater to the growing demand for sustainable packaging products and expand its packaging product portfolio.
• In January 2020, Amcor Plc signed partnership with Moda Vaccum Packaging System (New Zealand) to provide innovative packaging solution. With the synergy of Amcor’s rollstock film and shrink bag for cheese & meat with Moda’s packaging system, producers can drive total cost saving and operational efficiency.
• In August 2020, Raven Industries Inc. launched new product in its plastic film line, BioFlex I-series. It is used in personal protection equipment (PPE). This film is latex-free and used to prevent hospital acquired infections (HAIs) in hospital and laboratories. This product strengthens the company’s product portfolio.
• In November 2020, Raven Industries Inc. started new facility named Raven Applied Technology’s Canadian Headquarters at Regina, Canada. This new facility is focused on autonomous and precision agricultural innovation, training, and service for Raven Canada. This new expansion will increase and strengthen the company’s presence in North America.

APAC is the largest market for barrier films market and is expected to register the highest CAGR, owing to strong demand from end-use industries, such as food & beverage packaging and agriculture, in the region. This dominance is attributed to the high demand from food & beverage, pharmaceutical, and agriculture end-use industries in China, Japan, and India, among others. The rising demand from emerging economies and trend toward sustainability are creating growth opportunities for the market.

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