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Packaging Coatings Market (Substrate Type - Metal, Rigid Plastic, Glass, Liquid Cartoons, Paper Based Containers, Flexible Packaging, and Others; Type - Epoxy Thermoset, Urethane, UV-curable, BPA Free and Soft Touch; Application - Beverage Cans, Aerosols & Tubes, Caps & Closures, Food Cans, Promotional Packaging, Specialty Packaging, and Industrial Packaging; End-user - Food & Beverages, Cosmetics, Consumer Electronics, Automotive Components, and Pharmaceuticals): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

Packaging Coatings Market (Substrate Type - Metal, Rigid Plastic, Glass, Liquid Cartoons, Paper Based Containers, Flexible Packaging, and Others; Type - Epoxy Thermoset, Urethane, UV-curable, BPA Free and Soft Touch; Application - Beverage Cans, Aerosols & Tubes, Caps & Closures, Food Cans, Promotional Packaging, Specialty Packaging, and Industrial Packaging; End-user - Food & Beverages, Cosmetics, Consumer Electronics, Automotive Components, and Pharmaceuticals): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

Report Code: CGP0034 Category: Consumer Goods and Packaging Published: June, 2022

A recent report published by Infinium Global Research on the packaging coatings market provides an in-depth analysis of segments and sub-segments in the global as well as regional packaging coatings market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional packaging coatings market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global packaging coatings market. According to the report, the global packaging coatings market is projected to grow at a CAGR of over 4% over the forecast period of 2022-2028.

 

Market Insight

The revenue generated by the market was around USD 3.5 billion in 2022 and is expected to reach nearly USD 5 billion in 2028 and is expected to grow with a CAGR of over 4% over the forecast period 2022-2028. Packaging coatings are special coatings used on the interiors and exteriors of packages for long-term preservation of content inside and safe storage, transportation, or simple enhancement of the package aesthetics. It is an area that requires high technology as the functionality for long-term storing of contents, especially inside food cans, is very important for customer health. According to the publisher, the global packaging coatings market is expected to witness growth at a significant rate during the forecast period. Eco-friendly coatings are further expected to drive the global packaging coatings market. Apart from the food industry, other industries like personal care, healthcare, and chemical also consume packaging coatings for the functional as well as aesthetic aspects these coatings possess. Flexible packaging is a growing sector that uses packaging coatings in the forecast period.


Packaging Coatings Market

 

Packaging coatings are used for protection, performance, and decoration purposes for plastic tubes, metal cans, or any other substrate used in packaging. Packaging coatings are used for protection, performance, and decoration purposes for plastic tubes, metal cans, or any other substrate used in packaging. The major factor driving the market studied is the growing coatings usage in developing markets. On the flip side, increasing regulations are expected to hinder the growth of the market studied. The growing demand for coatings for high-speed packaging lines is enhancing the use of solid acrylics. Solid acrylic resins in packaging coating applications offer properties such as wet & dry adhesion, early water resistance, corrosion & chemical resistance, hardness, good inter-coat adhesion, and excellent exterior durability. These properties make acrylic resin a perfect suitable coating for applications like beverage cans, solid cans, etc. The prime reason for the growth of this market is the increasing food & beverage industry. Acrylics in packaging coatings are used heavily for packaging FMCG products owing to their innovative & visual appeal for customer attraction and convenience. The growth in lifestyle and consumption patterns has increased the demand for packaged products resulting in growing packaging industry.   COVID-19 was an incomparable global public health emergency that has affected almost every industry and is projected to impact these various industry growths during the forecast period. During the Covid-19, pandemic people were compelled to stay in their homes. The governments of many countries turned their focus to healthcare from other industries. This significantly disrupted their supply chain operations and manufacturing as lockdowns were imposed by the respective governments. Manufacturing facilities were all shut down due to the pandemic in almost every country across the globe. Logistical restrictions, manpower shortage, material unavailability, and other restrictions had reduced the growth of the industry.  

 

The report provides a regional outlook covering geographies such as North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific holds command over the global packaging coatings market and is expected to dominate the overall market during the forecast period. China has the biggest manufacturing sector globally and the largest consumer base. Being the most populated country, China makes it the largest consumer of various goods. Owing to various reasons, the packaging coatings market is one of the fastest-growing markets in the Chinese economy. China has the largest share in the e-commerce market. Sales in China account for more than 30% of the total e-commerce sales. China is one of the fastest-growing e-commerce markets in the world, and it is home to the e-commerce giant, Alibaba. The applications of coatings on various products have grown significantly in recent times. The increasing need for decorative and attractive packaging has led to an increase in the demand for coatings for packaging. Such factors can adversely affect the market for packaging coatings. These factors have also been a blessing in disguise, as companies have quickly adapted to various eco-friendly alternatives. Other than this North America holds a significant position in the market globally, US drives the growth of the market in this region.

 

Segment Covered

The report on the global packaging coatings market covers segments such as substrate type, type, application, and end-user. On the basis of substrate type, the sub-markets include metal, rigid plastic, glass, liquid cartoons, paper based containers, flexible packaging, and others. On the basis of type, the sub-markets include epoxy thermoset, urethane, UV-curable, BPA free, and soft touch. On the basis of application, the sub-markets include beverage cans, aerosols & tubes, caps & closures, food cans, promotional packaging, specialty packaging, and industrial packaging. On the basis of end-user, the sub-markets include food & beverages, cosmetics, consumer electronics, automotive components, and pharmaceuticals.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Axalta Coating Systems, Akzo Nobel NV, ALUMAX INDUSTRIAL CO. LTD, ALLNEX NETHERLANDS BV, Arkema Group, Asian paints, BASF SE, Berger Paints India Limited, CARPOLY, and Chemetall.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the packaging coatings market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. 


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