The Packaging Coatings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Packaging Coatings Market:
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According to The Business Research Company’s Packaging Coatings Global Market Report 2024, The packaging coatings market size is expected to see strong growth in the next few years. It will grow to $5.71 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to rapid growth in food and beverage industry, rising demand for flexible packaging, increasing health and safety concerns, rise of e-commerce, globalization of supply chains. Major trends in the forecast period include technological innovations, sustainable coating solutions, smart and intelligent coatings, bio-based and biodegradable coatings, digital printing and personalization.
Growing e-commerce activities are expected to propel the growth of the packaging coatings market. E-commerce activities encompass online buying and selling, digital payments, and diverse transaction models, revolutionizing commerce through the Internet. Packaging coatings provide protective, durable, and visually appealing finishes, ensuring the integrity and presentation of products during e-commerce activities. For instance, in November 2023, according to a report published by the U.S. Census Bureau, a division of the United States Department of Commerce, in the third quarter of 2023, retail e-commerce sales in the United States amounted to approximately $284.1 billion, reflecting a growth of 2.3% compared to the second quarter of 2023. Therefore, the rapid growth in e-commerce activities will drive the growth of the packaging coatings market.
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The packaging coatings market covered in this report is segmented –
1) By Type: Epoxy Thermoset, Acrylics, Amino, Alkyd, Polyester, Vinyl Coating, Urethane, Phenolic, Polyurethane, Other Types
2) By Substrate: Metal, Glass, Paper, Plastic, Other Substrates
3) By Application: Containers, Caps And Closures, Cans, Aerosols And Tubes, Other Applications
4) By End-Use Industry: Food And Beverage, Consumer Product, Chemical, Paints And Coatings, Industrial Product, Semiconductor And Electronics, Other End-Use Industries
Major companies operating in the packaging coatings market are focused on developing innovative eco-friendly coating products, such as oxygen barrier coatings, to strengthen their position in the market. Oxygen barrier coating refers to a type of protective material applied to packaging surfaces to prevent or minimize the permeation of oxygen, enhance the shelf life, and preserve the freshness of packaged products. For instance, in March 2022, Hubergroup Print Solutions, a US-based provider of printing inks and coatings, launched the HYDRO-LAC GA oxygen barrier coating for flexible food packaging. This coating enables a protective barrier on monomaterial film, supporting more recyclable packaging. The HYDRO-LAC GA coating is designed to provide a high barrier against oxygen and water vapors, ensuring the freshness of food products. Hubergroup’s innovative oxygen barrier coating enables food manufacturers to utilize pure mono-materials in their packaging, offering a sustainable solution to safeguard oxygen-sensitive foods like muesli or nuts from atmospheric oxygen within modern and recyclable packaging.
The packaging coatings market report table of contents includes:
1. Executive Summary
2.Packaging Coatings Market Characteristics
3.Packaging Coatings Market Trends And Strategies
4.Packaging Coatings Market analysis
5.Packaging Coatings Market Size And Growth
6. Packaging CoatingsSegmentation
7.Packaging Coatings Regional And Country Analysis
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27.Packaging Coatings Competitive Landscape And Company Profiles
28.Packaging Coatings Key Mergers And Acquisitions
29.Packaging Coatings Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- BASF SE
- The Sherwin-Williams Company
- Evonik Industries AG
- PPG Industries Inc.
- Solvay S.A.
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