The new report by Expert Market Research titled, ‘Global Ultra-high Barrier Films Market Analysis, Size, Share, Scope, Report and Forecast 2023-2028’, gives an in-depth analysis of the global ultra-high barrier films market, assessing the market based on its segments like material types, packaging formats, end-uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 1.6 Billion
- Forecast CAGR (2023-2028): 4.0%
The increasing demand for ultra-high barrier films in the food packaging industry, owing to the rising sales of premium packaged food and beverage products, is driving the market growth. The increasing consciousness pertaining to the hazards of environmental contaminants and personal hygiene is another key factor for the market growth.
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Over the forecast period, the anticipated increase in demand for high-performance barriers from various industries, such as agriculture and chemical, is likely to accelerate the market growth. In terms of region, the Asia Pacific region accounts for a significant share of the market owing to the high opportunities offered to the packaging industry, which can be attributed to the high economic performance of countries like India and China, coupled with the large population based in the region.
Ultra-high Barrier Films Industry Definition and Major Segments
Ultra-high barrier films are defined as the type of films0 which protect the packaging of the product from external elements, such as wind, water, and sunrays, among others. Ultra-high barrier films are used in various applications, such as purse, bags, and pouches, among others. Moreover, these films have a high tolerance to heat, and additional strength as compared to its traditional counterparts.
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On the basis of material type, the market can be segmented into:
Based on packaging format, the market has been bifurcated into:
- Tray Lidding Films
- Forming Webs
- Wrapping Films
- Blister Pack Base Webs
The significant end-uses of the product are as follows:
- Electronic Devices
- Medical Devices
The regional markets for ultra-high barrier films include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Ultra-high Barrier Films Market Trends
The key trends in the ultra-high barrier films market include the growing research and development activities in the pharmaceutical sector, which are navigating the development of chemically sensitive medicines and drugs. This is likely to accelerate the demand for ultra-high barrier films for greater protection and safety of the consumers.
The thriving e-commerce industry is anticipated to propel the sales of food and beverage, chemical, and pharmaceutical products, which is anticipated to be a crucial trend in the market. Moreover, the increasing disposable income, and rising population across the emerging economies are likely to provide significant impetus to the market in the coming years.
Key Market Players
The major players in the market are Cosmo Films Ltd., Jindal Poly Films Limited, Toray Plastics (America), Inc., KP Holding GmbH & Co. KG, Taghleef Industries SpA, Treofan Group, Amcor plc, Celplast Metallized Products Limited, and Honeywell International Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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