Packaging Coatings Market held USD 3361.9 million in 2020 and is to grow with a CAGR of 4.40% from 2020-2030. In any manufacturing process, packaging plays an important role. Not only packing and coating enhance the packaging process, but also provides additional protection, resistance to corrosion and various chemical attributes, and also helps improve the overall aesthetic characteristics of the packaging form. These factors are likely to boost the packaging coatings market growth.
Market Dynamics and Factors:
The global packaging coatings demand is mainly driven by the growth in the packaging industry. It is projected that improvements in lifestyle and food preferences are the key reasons for the growth in the food and beverages industry, which is one of the major applications boosting the global packaging coatings market size. Also, growing in PET bottles use and manufacturing is also expected to contribute to the global packaging coating demand. Manufacturers are constantly focusing to use packaging coatings, especially in the food and beverages industry to preserve the original quality and taste and to control contamination is likely to fuel the global packaging coatings market growth over the forecast period. On the other hand, stringent regulations and government rules, especially with regard to food and beverage packaging, are expected to limit the global packaging coatings market in future years. In addition, there is an increasing concern and awareness among producers and end users of the secondary effects of chemicals used in can and bottle coatings, which will curb the global packaging coating market size.
Market Segmentation:
Based on the type, the global packaging coatings industry is segmented into urethane, uv-curable, soft touch uv-curable & urethane, epoxy thermoset, and bpa free. On the basis of substrate, the packaging coatings market is segmented into, glass, metal, rigid plastic paper-based containers, flexible packaging, liquid cartons and others. Depending upon the end user, the global packaging coatings market is bifurcated into automotive components, cosmetics, food & beverages, consumer electronics, and pharmaceuticals. Based upon applications, global packaging coatings market is divided into beverage cans, food cans, aerosols & tubes, caps & closures, industrial packaging, promotional packaging, and specialty packaging Geographic bifurcation of global packaging coatings market share includes North America, Europe, Asia-Pacific, and RoW.
Geographic Analysis:
North America, in particular, is expected to be the largest global packaging coatings market share holder due to increasing food packaging practices. Asia is expected to make a major contribution to the global packaging coatings market in the coming years, because of the rising demand for packaging coatings on the packaging food and consumer goods sectors in the region. Latin America is considered to be the leading consumer after Asia-Pacific for packaging coatings market. The European market is expected to follow the Latin American market and is projected that the Middle East and Africa market are slowly emerging in global packaging coatings market.
Competitive Scenario:
The global nanocoatings market, which is highly competitive, consists of a few major players. In terms of market share, few of the major players currently dominate the market. The key players of global nanocoatings market are The Valspar Corporation. , PPG Industries, Inc., Allnex Belgium SA/NV, Akzo Nobel N.V., BASF SE, Wacker Chemie AG, ARKEMA GROUP, W. R. Grace and Company, Axalta Coating Systems, LLC, Mantrose-Haeuser Co., Inc., Sun Coating Company. and The Dow Chemical Company
Packaging Coatings Market Report Scope
| Report Attribute | Details |
| Analysis Period | 2020–2030 |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Market Size Estimation | Million (USD) |
| Growth Rate (CAGR%) | 4.4 % |
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| by Type (Epoxy Thermoset, Urethane, UV-Curable, BPA Free, and Soft Touch UV-Curable & Urethane), Substrate (Metal, Rigid Plastic, Glass, Liquid Cartons, Paper-based Containers, Flexible Packaging, and Others), Application (Food Cans, Beverage Cans, Caps & Closures, Aerosols & Tubes, Industrial Packaging, Promotional Packaging, and Specialty Packaging), and End User (Food & Beverages, Cosmetics, Pharmaceuticals, Consumer Electronics, and Automotive Components) |
| Geographical Segmentation | North America (U.S., Canada, Mexico) Europe (UK, Germany, Italy, France, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), South America (Brazil, Argentina, Rest of SA), MEA (UAE, Saudi Arabia, South Africa) |
| Key Companies Profiled | The Valspar Corporation. , PPG Industries, Inc., Allnex Belgium SA/NV, Akzo Nobel N.V., BASF SE, Wacker Chemie AG, ARKEMA GROUP, W. R. Grace and Company, Axalta Coating Systems, LLC, Mantrose-Haeuser Co., Inc., Sun Coating Company. and The Dow Chemical Company |
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