Nanotechnology drives global antimicrobial packaging materials market
The global antimicrobial packaging materials market is forecast to grow at a compound annual growth rate (CAGR) of 5.26 percent from 2017 to 2021, according to a Research and Markets report. Vendors are developing new packaging materials with high barrier properties using polymer nanocomposites. These nanocomposites are being used in novel applications in packaging of processed foods such as processed meats, cheese, confectionary and cereals.
Another driver in the market is the need for extended shelf life in the food packaging sector. Antimicrobial packaging materials are used in the form of thin films and sheets for food packaging.
A challenge cited for the market is the risks associated with raw material procurement. For packaging vendors, the cost of raw materials is a significant part of the production cost. Manufacturers of antimicrobial packaging products use raw materials such as solvents, epoxy, and other resins. Most of the raw materials are petroleum-based.
Global fluoropolymer market expected to reach $10.49B in 2022
The global fluoropolymer market was valued at $7.39 billion in 2016 and is expected to reach $10.49 billion in 2021 growing at a CAGR of 6 percent between 2017 and 2022.
According to a report by Zion Market Research, the industrial equipment segment accounted for the largest market share of approximately 28 percent of the global market share for fluoropolymers in 2016. Fluoropolymers are popular in industrial processing industries owing to their chemical- and oil-resistant properties.
By product segment, the PTFE market dominated the global fluoropolymers industry accounting for approximately 60 percent of overall volume in 2016. Enhanced wear resistance and chemical stability are key properties of PTFE for use in the manufacturing of gaskets, linings, washers, pump interiors, seals and spacers for industrial applications.
Asia-Pacific was the leading market for fluoropolymers accounting for the maximum market share in 2016 and is expected to continue this trend in the forecast period.
Organic acid market to grow through 2022
South America’s organic acid market is expected to reach $427 million by 2026, according to a recently published TechSci Research report titled, “South America Organic Acid Market by Type, By End Use, By Country, Competition Forecast and Opportunities, 2012-2026.” The region’s agriculture sector is growing swiftly, fueled by expanding population and growing demand for food. This is having a positive influence on the South America organic acid market.