Selbyville, Delaware, May 23, 2024 (GLOBE NEWSWIRE) -- Barrier Films Market is projected to surpass USD 40 billion by 2032, as per a recent study by Global Market Insights Inc.
Technological strides in barrier film materials and manufacturing processes, in tandem with a growing demand for sustainable packaging solutions, will fuel business growth over 2024–2032. As industries prioritize environmentally friendly options, innovative films offering enhanced protection while reducing environmental impact gain traction. This dual focus on performance and sustainability drives investment in research and development, fostering the evolution of barrier films to meet evolving consumer and regulatory demands, thereby expanding the market size and reach.
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For instance, in March 2024, Toppan and Toppan Speciality Films (TSF) collaborated to create GL-SP, a new barrier film utilizing a biaxially oriented polypropylene (BOPP) substrate. Production and sales will commence in April 2024, expanding Toppan’s GL Barrier series.
Pharmaceutical and medical to persist as a significant end-use segment
The barrier films market size from pharmaceutical and medical segment will establish a considerable foothold between 2024 and 2032, propelled by stringent regulations and increasing focus on healthcare. Barrier films play a crucial role in preserving the integrity of pharmaceutical and medical products, protecting them from moisture, oxygen, and other contaminants. As advancements in medical technology drive further innovation, the demand for specialized barrier films tailored to the unique requirements of this segment will escalate, solidifying its dominance in the market.
Bags to witness widespread adoption
The bags segment will gain a strong presence by 2032. With a wide array of applications ranging from food packaging to industrial uses, bags made from barrier films offer superior protection against moisture, oxygen, and other contaminants. The growing demand for convenient and durable packaging solutions, coupled with increasing consumer awareness regarding food safety and sustainability, is driving the dominance of the bags segment in the market.
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North America to secure high revenue share
North America barrier films market will expand at a notable CAGR from 2024 to 2032 due to a robust manufacturing sector, stringent regulatory standards, and high demand for packaging solutions. Factors such as technological upgrades and increasing consumer awareness will further bolster this position. As major players continue to invest in innovation and sustainability initiatives, North America will stand as a pivotal contributor to the evolution of the market.
Barrier Films Market Players
Prominent companies operating in the barrier films market include Amcor Plc, Berry Global Inc., Sealed Air Corporation, Cosmo Films Ltd, Toppan, DuPont Teijin Films, and Jindal Poly Films, among others.
These key industry players are actively bolstering their presence through strategic initiatives. They are investing substantially in research and development to introduce innovative products that meet evolving consumer demands. Additionally, strategic collaborations, mergers, and acquisitions enable them to expand their market reach and gain a competitive edge. By focusing on enhancing product quality, sustainability, and cost-effectiveness, these players are solidifying their positions and driving growth in the barrier films market.
In March 2024, Jindal Films introduced BICOR 25 and 30 MBH568 films, innovative mono-material barrier solutions. These polypropylene (PP) and polyethylene (PE) films support packaging companies in adhering to upcoming European mechanical recycling standards.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
