Resin is a natural element found in many plants, especially in coniferous trees. In polymer chemistry, resin is a viscous material which is typically convertible into polymers. Such viscous substances can be plant-derived or synthetic by nature. More often, resins are mixtures of organic compounds. Plants mainly produce resin in response to injury. The resin thus acts as a protective bandage that protects the plant from parasites and other pathogens. In commercial business, resin is used as a synthetic material to make varnishes, food glazing, adhesives, nail paints and perfumes etc.
The global market for barrier resin is expected to grow at a double-digit CAGR for the forecast period. Rise in pharmaceutical packaging industry in developing economies, improved shelf life of packaged food products, growing urbanization and changing patterns of lifestyle continue to drive the food packaging market. However, increasing costs, strict regulatory standards, environmental and political norms are the major obstacles in the barrier resins market.
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Application-wise, the barrier resin global market is segmented into Food & Beverage. It is the largest segment where resin is primarily used in the packaging of food & beverage products such as meat, fish, beer, wine, carbonated soft drinks, and canned milk. Barrier resins used for food & beverage packaging provides enhanced shelf life, food quality, prevents odor and UV rays from penetrating the package and thus protects vitamin content.
The barrier resin global market is segmented on the basis of type which includes Ethylene vinyl alcohol (EVOH) and Polyvinylidene chloride (PVDC). PVDC is highly effective polymer and is the only reason it is preferred as an excellent material against fat, vapor and gases.
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