Smithers Pira – Barrier coatings for plastic packaging to grow 5.2% annually
UK • The global market value of barrier coatings for plastic packaging is projected at USD 1.37 billion in 2016 and is forecast to grow at an annual rate of 5.2% during the five-year period to 2021 to USD 1.76 billion. Smithers Pira’s new report, “The Future of Functional Additives and Barrier Coatings for Plastic Packaging to 2021”, details the demand for functional additives and barrier coatings for plastic packaging.
Food is by far the largest end-use sector for functional additives and barrier coatings in plastic packaging, accounting for a projected share of just over 60.0% of market value in 2016. Non-food is the second largest market accounting for just less than 20.0% of market value, followed by beverages with an 18.5% value share. Pet food represents just 1.5% of total market value.