Valley Cottage, NY -- (SBWIRE) -- 12/04/2017 -- High barrier films to maintain status quo during 2017-2027
High barrier films are relatively flexible which inhibit the entry of light, oxygen, water and few other elements and are widely used in various packaging applications such as pouches, bags, blister packaging and forming webs and lidding. High barrier segment by barrier type is expected to witness higher market share by the end of the forecasted period. This segment dominated the global market in 2016, with respect to value share.
According to the packaging barrier films market research study, this segment is poised to continued dominance throughout the period of forecast to reflect a high value of more than US$ 13 Bn by the end of 2027 from a value of about US$ 7.8 Bn in 2016. Moreover, it is anticipated to grow at a steady growth rate to reflect a CAGR projection of 5.44% throughout the period of assessment 2017-2027.
By barrier type, the ultra-high barrier segment is projected to grow at a high CAGR compared to other segments, to reach 5.62% during the assessment period. This segment stands second with respect to market share, followed by low barrier segment. Ultra-high barrier segment is also anticipated to gain an additional 70 BPS during the 2017-2027 assessment period. Medium barrier and low barrier segments are expected to witness slow growth compared to high and ultra-high barrier segments, owing to higher demand of these barrier types.
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High barrier films to remain dominant barrier type segment in Asia Pacific
The APAC region is highly attractive for all the barrier types. The high barrier segment is expected to emerge as the most attractive market segment by barrier type in the APAC packaging barrier films market over the forecast period 2017-2027. The high barrier segment is anticipated to create a total incremental opportunity of US$ 1,750.8 Mn and an average absolute $ opportunity of US$ 159.2 Mn between 2016 and 2027.
Global Packaging Barrier Films Market: Top Regional Markets
The global packaging barrier films market is estimated to reach a market evaluation of above US$ 26 Bn by the end of 2027 from a value estimation of about US$ 15.8 Bn in 2017, growing at a steady growth rate to reflect a CAGR of 5.22% throughout the period of forecast. With respect to geography, Asia Pacific (APAC) region is the most lucrative region for the growth of the global packaging barrier films market. This region can be marked as a fast consumer region for packaging barrier films, as demand for packaging barrier films has been increasing since recent past. Based on the analysis of the global packaging barrier films market, the Asia Pacific region is expected to show a robust growth rate during the assessment period to reach a high CAGR of 6.0% by value in this period.
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Moreover, the Asia Pacific regions is estimated to reflect a high market value of about US$ 7.7 Bn by the end of 2027 from a value of about US$ 4 Bn in 2016. Following Asia Pacific region, North America is the second most attractive region, growing at a steady rate to reflect a CAGR above 5% during the period of forecast and is estimated to reach an evaluation of around US$ 7.5 Bn by the end of 2027.
Middle East and Africa also shows higher rate of growth during the assessment period, whereas Europe also shows significant value share but slow growth as compared to APAC, North America and MEA.