The latest report by IMARC Group, titled “Packaging Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global packaging coatings market report exhibited moderate growth during 2015-2020. Packaging coatings are functional and aesthetic media that protect and prevent the packaged product from oxygen, light, and moisture. Epoxy thermoset, urethane, acrylic, and polyester are some of the widely used packaging coatings. They help ease the supply chain, promote sales, and extend the shelf life of contents. They also offer chemical resistance, corrosion protection and ensure the safety of the products. As a result, packaging coatings find application in the consumer goods, personal care, healthcare, chemical, and food and beverage industries.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Packaging Coatings Market Trends:
The global packaging coatings market is primarily driven by their growing demand from the food sector to maintain original quality and taste and prevent contamination of food content by foreign agents. Besides this, the expanding e-commerce industry has increased the need for various metal, plastic and paper-based containers, cans, closures, and industrial packaging products. Consequently, this has led to the growing adoption of packaging coatings across the industry. In addition to this, with rising environmental concerns, manufacturers are shifting toward solvent-borne, waterborne, and powder-based epoxy and acrylic resin products. These acrylic packaging coatings offer excellent transparency and high durability to stains, blistering, heat and cracking to various packed products. Furthermore, research and development (R&D) activities have introduced sustainable and more effective packaging coatings, which, in turn, is significantly fueling the market growth. Looking forward, the market is expected to grow at a CAGR of around 4% during the forecast period (2021-2026).
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Akzo Nobel N.V.
- Arkema Group
- Axalta Coating Systems LLC
- BASF SE
- Mantrose-Haeuser Co. Inc.
- PPG Industries Inc.
- Sun Coating Company
- The Dow Chemical Company
- The Valspar Corporation
- Wacker Chemie AG Ltd.
Packaging Coatings Market Segmentation:
Our report has categorized the market based on region, substrate, resin, formulation and application.
Market Breakup by Substrate:
Market Breakup by Resin:
Market Breakup by Formulation:
Market Breakup by Application:
- Food Products
- Caps and Closures
- Monobloc and Tubes
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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