HIGH BARRIER FILM AND COATINGS MARKET ANALYSIS

High Barrier Film And Coatings MarketSize and Trends

MARKET DYNAMICS

• Multiple advantages associated with high barrier film and coatings over traditional films such as higher heat tolerance, strength, and ability to incorporate zippers or sliders among others are driving growth of the global high barrier film and coatings market. Moreover, high Barrier Film and coatings offer excellent gloss, extend shelf life of packaged products and reduce the need for preservatives.
• High production cost and technical difficulties in recycling of multi layered packaging is a major challenge for manufacturers operating in the high barrier film & coating market. However, technological advancement in packaging industries & introduction of bio-based films is projected to reduce impact of this challenge over the forecast period.
• Growing importance of sustainable solutions to reduce environmental impact of packaging is shifting manufacturers' preference towards bio-based high barrier packaging films. In 2018, NatureWorks, Nippon Gohsei, Eurotech Extrusion Company and Sukano joined together to offer multilayer transparent bio-based high Barrier Film for food packaging.

MARKET OUTLOOK

• Among application, the food & beverages segment held a major share in the global high Barrier Film and coatings market in 2018. In the food & beverage industry, high Barrier Film and coatings are extensively adopted to overcome common challenges such as preservation and protection of packaged products against moisture, heat, or light.
• Asia Pacific is expected to emerge as the fastest growing region in the global high Barrier Film and coatings market over the forecast period. Favorable growth of fast moving consumer goods (FMCG) industries in the region is creating lucrative opportunities for market players to expand their footprint. For instance, according to the India Brand Equity Foundation Report, the FMCG market in India is expected to reach US$ 103 billion by end of 2020.