The report "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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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.

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.

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Companies, such as BASF SE (Germany), Songwon Industrial Co. Ltd. (South Korea), Cytec- Solvay Group (U.S.), Clariant Corp. (Switzerland), and Addivant (U.S.) are the dominant market players in the global packaging additives (functional additives and barrier coatings) market.

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