"Overview of Moisture Barrier Bags Market"
Moisture Barrier Bags Market was valued at the US $ 399.3M in 2018 and is expected to witness a CAGR of 4.6% during the forecast period (2019-2027)
Customers like a packaging format which is attractive, convenient and eco-friendly. Moisture Barrier Bags are made up of very effective packaging materials which are used to protect and preserve products. The key factor that has enhanced the demand for moisture barrier bags in the market is its ability to protect against corrosive damage caused by humidity, oxygen, light and airborne contamination. The barrier property of moisture bags enables retailers and vendors to dispatch products to a longer distance conveniently. Various industries are using these bags to ensure the safety of their products. Many sizes are available from 4MM to 50kg bags used for packing various products such as electrical chips, cement, etc. Various features of Moisture Barrier Bags have boosted their demand and are expected to support growth during the forecast period (2019-2027).
In addition to this, these bags are witnessing high demand in the market as these create low waste when compared to other alternative packaging formats. These can be reused and do not end up in a landfill. Manufacturers in this market are bringing more variety of moisture-proof packaging such as bags, pouches, etc to satisfy consumer's needs. Recently, PE pouches have been launched and are witnessing rising demands in various end-use markets. Designed on the basis of specific shelf life needs, these bags are used for packaging of various products such as electronics, circuit boards, and dry and frozen foods. Multi-layers Moisture Barrier bags have been introduced to avoid moisture, puncture, pests and occupy space restrained areas in households and other day-to-day usages.
By Application, Electronics Industry is expected to witness high demand during the forecast period
Electronic Industry had accounted for a significant share of 33% in 2018 and is expected to remain dominant during the forecast period.
Moisture Barrier Bags have gained immense popularity in the Electronic industry Growing consumer’s dissatisfaction towards damaged electronic appliances has driven the growth of Moisture Barrier Bags. Whether the electronics are shipped to be delivered or to be stored, barrier Bags are widely used to secure them against humidity, pests, air contamination, and electrostatic discharge.
The majority of consumers tend to buy well-packaged products as electronics are exorbitant and delicate. From computer chips to PCB (printed circuit board) all of these components need barrier bags to ensure safety from moisture, dust and electrostatic discharge. Therefore, the products are vacuum sealed and heat-sealed with a moisture tester packed inside. Moisture Barrier Bags are expected to witness a boost in the demand during the forecast period as there are many barrier bags products which are widely used in the market such as static shielding moisture barrier bags, foil Barrier Bags, and others.
By Product Type, Static Shielding Moisture Barrier Bags are expected to witness high demand. These are expected to grow at a CAGR of 6% during the forecast period.
Static Shielding Moisture Barrier Bags are designed especially for dry packaging to reduce friction produced by bag or product inside during shipment. These bags are expected to witness high growth owing to various benefits offered by these. Static Shielding Moisture Barrier Bags have a dual inner aluminum shielding layer which provides EMI-RFI ensuring maximum strength and durability. These bags are particularly designed on the basis of product size ranging from 0-4.0 Mil to 0-7.0 Mil owing to their rapid growth in the market. Static Shielding Moisture. However, a drawback of static shielding moisture barrier bags is that when these bags are highly punctured, crumpled and folded, they lose their static shielding properties to an extent. This might hamper the growth of this segment.
North America accounted for a significant share of XX % in 2018 and is expected to remain dominant during the forecast period
Geographically, North America had accounted for a prominent share of 33% in the moisture barrier bags market. Manufacturing activities in North America and Latin America have drawn the attention of new market players to invest in this market. Although the European market is expected to grow at a significant pace during the forecast period.
Regionally, Asia-Pacific moisture barrier bags market is expected to grow rapidly in the upcoming years at a CAGR of 3.9% over the forecasted period. India and China are expected to hold a relatively high share of revenue by the end of the forecast period.
Competitive Landscape Analysis
Moisture Barrier Bags Market is a rather underrated one but key market players are benefitting from their strategic acquisition, collaboration and joint ventures.
Moreover, due to the increasing reliability of Moisture Barrier Bags over other packaging formats has led companies to exercise further research and development on a global and regional basis. The key players in Moisture Barrier Bags market are Flexopack SA, Amcor Plc, SCG Packaging Public Company Ltd, ProAmpac LLC, Nordic Paper Holdings AB, Billerudkorsnas AB, Advantek, IMPAK Corp, Protective Packaging Corporation, Action Circuits (UK) Ltd, Dou Yee Enterprises (S), Suzhou Star New Material Co. Ltd, 3M, Z-Mar Technology Inc., Eurostat Group.
Moisture Barrier Bags Market Segmentation:
- Consumer goods
- Food industry
- Chemical industry
- Aluminum Foil
- Static Shielding Moisture Barrier Bags
- Foil Moisture Barrier Bags
- Alufoil Moisture Barrier Bags
- Vacuum Moisture Barrier Bags
- High Barrier Bag
- North America
- Latin America
- Asia Pacific
- Middle East and Africa