"Binding Intellectual insights for your Business"
Packaging coatings are used for protection, decoration & performance for plastic tubes, metal cans, or any other substrate used in packaging. These coatings provide an aesthetic appeal to products in various consumer goods, healthcare, chemicals, food & beverages, personal care, and other sectors. Moreover, as they offer protection against corrosion & environmental factors, as well as chemical resistance and attractive appearance, they are gaining huge demand.
The positive growth of the e-commerce industry and the increasing demand for flexible packaging from the consumer goods industry drive the packaging coatings market growth. Additionally, the need for canned food & beverages worldwide fosters market growth. Moreover, manufacturers' increased demand for environment-friendly coatings and key developments provides lucrative opportunities to the packaging coatings industry.
The growing demand for canned food and beverages is a key factor that boosts the market growth. Other factors, such as the growing consumer preference for attractive packaging, along with several technological advancements and increasing focus on research & development activities to develop sustainable & effective packaging coatings, propel the market growth. Furthermore, the growing spending on infrastructure development and rising inclination towards modern lifestyle in developed and developing economies accelerate the demand for packaging coatings, thus boosting packaging coatings market growth.
Stringent government rules & regulations, coupled with the harmful VOC emissions during the production process, impede the growth of the packaging coatings market. Additionally, the strict restrictions imposed by several governments for using plastic, chemicals, and other harmful raw materials in food packaging, also restrains the market growth. Moreover, the rising concerns about the amount of Bisphenol-A in packaging coatings are anticipated to negatively impact the packaging coatings market in the forthcoming years.
COVID-19 harmed the global packaging coatings market. Large-scale supply chain disruptions that led to halting production were observed in the early stages of the pandemic. During the outbreak of COVID-19, people were compelled to stay in their homes. Disruptions in the manufacturing units impacted the packaging coating industry worldwide. The growth of the market was stunted due to the government's imposed shutdowns and lockdowns. However, the market is anticipated to witness the massive growth in the post-pandemic era due to the increasing demand for food and beverages worldwide.
The packaging coatings report will cover the following key insights:
Based on the resin type, the market is segmented into epoxy, acrylic, polyurethane, UV-curable, rosin, and others. Acrylic resins dominate the growth of the packaging coatings market as it offers transparency and is a fast dye that can be used with these coatings. The resins' weather resistance tendency and stability make them suitable for coating applications such as foodstuff, wine coatings, and others.
Based on the substrates, the market is segmented into plastic, metal, glass, and paper. Metal substrates hold the largest market share of the packaging coatings market. Metal dominates the market as it is one of the most chosen packaging solutions to preserve food & beverage products in the form of metal cans and containers.
Based on the application, the market is segmented into containers, cans, caps & closures, aerosols & tubes, and others. Cans are the most dominating segment of the global packaging coatings market. The surge in demand for processed foods such as canned soups, vegetables & beverage cans has rippled through the food industry’s supply chain. As the cans prevent corrosion and spoilage, they are used widely for packaged foods and beverages, thus boosting segment growth.
Based on the end user, the market is segmented into food & beverages, pharmaceuticals, personal care & cosmetics, automotive, and others. The food and beverage industry is witnessing the highest demand for packaging coatings due to the fast-growing consumption of packaged food across the globe. Growing requirement for essential consumer products globally is driving demand for packaging coatings.
To gain extensive insights into the market, Request for Customization
The packaging coatings market has been studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the dominating region of the global market. The high adoption of packaging coatings products due to the increasing demand in the packaged food & beverage and consumer goods sector drives regional growth. North America is witnessing fast growth owing to its economy's fast-paced growth, changing lifestyles, and consumer inclination toward packaged food and beverages. Increasing manufacturers' investments boost the packaging coatings market in the European region. The need for decorative and attractive packaging has increased the demand for packaging coatings in Latin America and the Middle East.
By Resins Type | By Substrates | By Application | By End User | By Geography |
|
|
|
|
|
US +1 833 909 2966 ( Toll Free )