Global market for plastics additves and barrier coatings to hit US$752 million by 2014: study
The global market for plastics additives and barrier coatings is expected to grow at an annual rate of 4.6 per...
July 31, 2010 by Canadian Plastics
The global market for plastics additives and barrier coatings is expected to grow at an annual rate of 4.6 per cent to total US$752m by 2014, according to a new report from market research firm Pira International.
The report identifies a range of factors expected to drive the predicted growth in the additives and coatings market, including global recession impacting the structure of end-user demand, growing demand for barrier-coated PET bottles, the activity of large retail chains in developing markets, and mounting pressure on brand owners and retailers to reduce the environmental impact of their packaging.
“Reducing packaging weight by switching to thinner materials is one likely response, which will in turn drive demand for functional additives,” the report said. “The use of barrier coatings is also expected to increase thanks to its relative easy of recycling as opposed to older technologies such as multilayer bottles.”
According to Pira, the largest current user of functional additives and barrier coatings for plastic packaging is the non-food market – mainly electricals and electronics. In second place is snack foods. Both industries are poised to remain in the lead in the coming five years.
The study also condluded that, gelgraphically, growth rates in western Europe and North American will be slower than the global average. Not surprisngly, the highest growth rates are in China and India, each at more than 10 per cent.
For more information about the study, click on this link.