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Packaging Additives (Functional Additives and Barrier Coatings) Market to grow at highest CAGR till 2020

The global Packaging Additives (Functional Additives and Barrier Coatings) Marketis estimated to reach USD 4.90 Billion by 2020 at a CAGR of 5.5% from 2015 to 2020. This growth is fuelled by the increased use of packaging material, especially in Asia-Pacific, owing to changes in lifestyle, higher population, and rapid urbanization.

 Browse 158 tables and 57 figures spread through 191 Pages and in-depth TOC on "Packaging Additives (Functional Additives and Barrier Coatings) Market by Type (Antioxidants, UV Stabilizers, Antimicrobials, Metalized Coatings, and Organic Liquid Coatings), by Application (Food, Beverage, Cosmetic & Personal Care), and by Region - Global Trends & Forecast 2020"

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Food Packaging: The major market for packaging additives (functional additives and barrier coatings)

Food packaging is the largest application of the packaging additives (functional additives and barrier coatings) market. It is an important segment of the packaging industry. It accounts for more than 60% of the global consumer plastic packaging market. Plastic resins play a major role in food packaging owing to their low cost, mechanical strength, and ease of processing and manufacturing. Packaging additives (functional additives and barrier coatings) are added in plastic resins to strengthen the desired physical, mechanical, and barrier properties.

Antioxidant: The fastest-growing type for functional additives

Antioxidants slow down the oxidation cycle, usually by scavenging free radicals, preventing degradation of the polymer, and retaining the color development, mechanical, and physical properties according to the required standards. Antioxidants improve chemical resistance of the plastics. These are generally used in hydrocarbon polymers such as polypropylene, polyethylene, polystyrene, and ABS. Antioxidant additives find application in food & beverage applications.

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Functional additives are classified into seven types including antioxidants, UV stabilizers, anti-block, clarifying agents, anti-static, anti-fog, and antimicrobial.  Barrier coatings include metalized coatings, organic liquid coatings, and inorganic oxide coatings. In terms of volume, antioxidant is the largest segment followed by anti-block. However, in terms of value, antimicrobial additives were the largest type segment in 2015. For barrier coatings, the metalized coatings segment accounted for the largest share, both in terms of value and volume, in 2015.

Currently, Asia-Pacific is the largest packaging additives (functional additives and barrier coatings) market, accounting for more than two-fifth of the global market size, in terms of value, in 2015. Among all the countries, China dominates the market, closely followed by the U.S. Presence of a large number of global as well as regional market players, well-established packaging industry, high population, increased levels of disposable income, and changing lifestyle are the key factors driving the market in China.

Major players, such as BASF SE (Germany), Songwon Industrial Co. Ltd. (South Korea), Cytec- Solvay Group (U.S.), Clariant Corp. (Switzerland), and Addivant (U.S.) have adopted development strategies, such as capacity expansions, acquisitions, and new product developments to achieve growth in the global market.

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on March 5 at 9:43

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