Antioxidant: The fastest-growing type for functional additives

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

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 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.

Organic liquid coatings: The fastest-growing type for barrier coatings

Organic liquid coatings provide protection against moisture, oxidation, aroma, and flavor loss, and oil and grease permeation. These coatings are generally combined with plastic resins in duplex and triplex structure. These coatings include ethylene-vinyl alcohol (EVOH) copolymer, polyvinylidene chloride (PVDC), and polyvinyl alcohol (PVOH). Organic liquid coating, including PVDC, provide excellent barrier against oxygen and water vapor in comparison to other coatings. PVDC is used in high-performance packaging films owing to its effective barrier properties. Organic liquid coatings are typically best suited for food and pharmaceutical packaging applications owing to their regulatory compliance or acceptance.

Asia-Pacific and Europe were the largest and second largest markets for packaging additives (functional additives and barrier coatings) in 2015

Asia-Pacific is the largest market, with major developments and investments undertaken in China and India. Europe and Asia-Pacific together accounted for a major portion of demand for packaging additives (functional additives and barrier coatings) in 2015. These two regions are estimated to dominate the global market by 2020, with advanced technological developments in these additives and coatings for end users. Asia-Pacific is projected to remain the major market till 2020, with high investments in food and pharmaceutical & healthcare applications owing to growing population and demand. Europe is the second largest market for packaging additives (functional additives and barrier coatings).

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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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