Use of UV Stabilizers as Packaging Additives Shielding
Products from Sun-induced Damage to Preserve Integrity and
Longevity
ROCKVILLE, Md., May 27, 2024 /PRNewswire/ -- Based on a
newly published research report by Fact.MR, worldwide revenue from
the sales of packaging additives is poised to reach US$ 574.8 million in 2024 and further
increase at a CAGR of 4.5% from 2024 to 2034.
Packaging speaks volumes about a company, and more firms are
investing substantially in improving their packaging by making it
more environmentally friendly. Medicines in the pharmaceutical
sector must be sealed to protect them from contamination or
exposure to UV. These chemicals are added to boost the packaging's
durability. Improved durability allows the drug to be sealed,
making it safe for consumption.
Companies have spent considerably on antimicrobial chemicals to
prevent microorganisms from forming around packaging. These
additives are commonly used in the pharmaceutical business to
protect pharmaceuticals from hazardous bacteria and viruses.
Ultraviolet stabilizers are applied during manufacture to protect
products and packaging from the Sun's damaging rays.
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The popularity of packaged food rose as a consequence of a focus
on the convenience of preparation and protection from external
elements to prevent microbial action. Packaged foods are convenient
to handle and prepare. They are becoming more popular as urban
inhabitants in both developed and developing countries discover
their benefits.
Key Takeaways from the Market Study
- The global market for packaging additives is forecasted to
reach a valuation of US$ 892.6
million by the end of 2034.
- North America is evaluated to
hold 24.3% of the global market share by 2034.
- The market in East Asia is
projected to expand at a CAGR of 4.8% from 2024 to 2034
- The market in Mexico is
evaluated to increase at a CAGR of 3.7% from 2024 to 2034.
- Japan is analyzed to occupy a
market share of 29.4% in the East
Asia region by 2034.
- Based on product type, antimicrobial agents are estimated to
account for a market share of 18.6% in 2024.
"Need for sealed packaging in the pharmaceutical sector to
ensure drug safety and efficacy is driving demand for additives
that enhance durability and protection against UV
exposure," says a Fact.MR analyst.
Key Players Profiled in this Report:
BASF SE; Evonik; Croda International PLC; ADEKA Corporation;
Corbion; Dow; Ampacet Corporation; Arkema; PolyOne Corporation; PMC
Group Inc; AkzoNobel NV; ALTANA Group; PPG Industries; Sun Chemical
Corporation; Lubrizol Corporation; Colormatrix Group; Henkel.
Growing Emphasis on Biodegradable Packaging Materials
Biodegradable packaging is created by combining several
substances such as additives, antioxidants, and stabilizers.
However, this raises the possibility of chemical migration,
resulting in human exposure to these chemicals. During the
production phase, several test techniques are used to analyze the
in-vitro toxicity of such packaging materials to ensure their human
safety.
Modified atmospheric packaging (MAP) is a common application
approach for biodegradable packaging. It is a commonly used
sophisticated packaging technology for preserving agricultural
products, particularly fruits and vegetables. It operates by
changing the gaseous composition of the package's headspace. This
innovative technique works by drastically reducing the ripening
process of fruits. This is generally accomplished by precisely
changing the quantities of oxygen (O2) and carbon
dioxide (CO2).
Competitive Analysis:
In a dynamic industry like packaging additives, staying ahead of
the competition requires ongoing innovation. To maintain their
market leadership, prominent corporations are constantly seeking
innovation. These industrial behemoths are heavily spending in
R&D to develop revolutionary packaging additives that improve
functionality and performance. Key companies in the packaging
additive market are adjusting to changing industry trends, such as
the use of packaging adhesives and coatings.
Despite the highly competitive nature of the packaging additive
business, there are various investment opportunities for newcomers.
As the need for sustainable and eco-friendly packaging increases,
there is a need for innovative additives that give environmental
benefits while being functional.
In April 2021, Avient Corporation, a
well-known name in sustainable solutions, announced the
introduction of a new food packaging ingredient. The innovative
antifog component is appropriate for thermoformed and transparent
food packaging applications. The new ingredient, CESA Nofog Plus,
will also assist extend the shelf life of packed products by
minimising moisture buildup.
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Country-wise Analysis:
The market in the United States
is driven by technological advancements and a focus on innovation.
Rising customer desire for convenient and sustainable packaging
options and the strong presence of prominent firms are important
market trends in the country. The emphasis on sophisticated
packaging techniques, enhanced barrier qualities, and prolonged
shelf life are driving demand for advanced and effective packaging
additives.
China is a major industrial
powerhouse in Asia. The country is
well-known for its manufacturing industry and is a highly
profitable market for all plastic and packaging item manufacturers.
China is an important market for
packaging additive providers due to its abundant raw material
supply.
Explore More Related Studies Published by Fact.MR
Research:
Packaging Adhesives Market is forecasted to
advance at a high-value CAGR of 7.5% over the next
ten years, growing from its present market valuation
of US$ 12.8
billion to US$ 26.5
billion by 2033.
Packaging Coating Market was anticipated to be
valued at US$ 3.5
billion in 2023 and it is anticipated to grow at a
CAGR of 6.8% to reach US$ 6.8 billion by the end of 2033.
Biodegradable Packaging Material Market was
estimated at USD 88 Billion in
2022 and is forecast to surpass USD 169
Billion by 2032, growing at a CAGR of 6.8% from
2022 to 2032.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of
the packaging additive market for 2019 to 2023 and forecast
statistics for 2024 to 2034.
The study divulges essential insights into the market based
on packaging additive market study by substrate (plastic,
paper & paperboard, metal, others), product type
(antimicrobial agents, antistatic agents, oxygen scavengers,
antifog agents, clarifying agents, UV stabilizers), packaging type
(rigid packaging, flexible packaging), and application (food
industry, beverage industry, cosmetics & personal
care industry, others), across seven major regions of the
world (North America, Latin America, Eastern Europe, Western Europe, East
Asia, South Asia &
Pacific, and MEA).
About Fact.MR:
Fact.MR is a distinguished market research company renowned
for its comprehensive market reports and invaluable business
insights. As a prominent player in business intelligence, we
deliver deep analysis, uncovering market trends, growth paths, and
competitive landscapes. Renowned for its commitment to accuracy and
reliability, we empower businesses with crucial data and strategic
recommendations, facilitating informed decision-making and
enhancing market positioning. With its unwavering dedication to
providing reliable market intelligence, FACT.MR continues to assist
companies in navigating dynamic market challenges with confidence
and achieving long-term success. With a global presence and a team
of experienced analysts, FACT.MR ensures its clients receive
actionable insights to capitalize on emerging opportunities and
stay ahead in the competitive landscape.
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