Packaging may be defined as an economical means of providing presentation, protection, identification, containment, convenience, and compliance for a product during storage, transportation, display, and usage. Packaging coatings are considered as special coatings applied on the interior and exterior surfaces of cans for long-term preservation of content in the food and beverage industries. These coatings are applied on areas that require high technology as the functionality for long-term storage of can content, which is very important for customer health.
Packaging coatings are being increasingly embraced in industries as they possess multiple properties such as providing corrosion resistance and improvement in overall packaging aesthetics. Moreover, packaging manufacturers are increasingly concerned about product safety and providing a satisfied consumer appearance. Therefore, coatings play a major role in addressing the aforementioned concerns.
This report projects the trends and opportunities of the global packaging coatings market. This research study includes a qualitative and quantitative analysis with comprehensive research methodologies and reliable projections to understand the present overview and predict the market behavior during the forecast period. Our research teams have used various secondary resources and directories such as industrial databases, journals, magazines, and primary resources coupled with industry oriented measures, which include industry-related expert interviews to obtain key information and valuables that makes it an asset for players in the market.
The increasing application areas of packaging coatings are the primary factor that fuels the growth of the market. Globalization, changing lifestyles, and food habits lead to the growth of the food and beverage industry, which is a major end-use industry for the global packaging coatings market. In addition, a rise in the consumption and manufacture of PET bottles is another factor that leads to the market growth. In the food and beverage industry, the need to maintain food quality and taste as well as keep a check on contamination urges manufacturers to use packaging coatings, which in turn will provide an impetus for the market growth.
In addition, the rapidly rising e-commerce industry further leads to the market growth. However, stringent environmental regulations on packaging safety, majorly in the food and beverage industry are expected to restrict the growth of the market. Furthermore, increasing concerns and awareness among leading players and end-users regarding the side effects of chemicals used in coatings of cans and bottles is expected to further restrain the market growth.
The global packaging coatings market is segmented by resin type, formulation, substrate type, end-use industry, application, and geography. By resin type, the market is segmented into epoxy, acrylic, fluoropolymers, polyester, polyurethane, polyethylene terephthalate, and others (plastisols and amino reins). By formulation, the market is segmented into powder, solvent borne, water borne, and UV coatings. By substrate type, the market is segmented into glass, metal, plastic, and paper.
By application, the market is segmented into carton boards, sandwich shells, wrapping paper & bags, drinking cups, food cans & aerosols, personal care products, pharmaceutical products, and others (drums, tubes, & containers). By end use industry, the market is segmented into food & beverage, personal care, pharmaceuticals, paints, chemicals, and others (transportation & logistics). Geographically, the packaging coatings market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Key market players in this sector include Industrial Packaging Limited, AkzoNobel N.V., BASF SE, Axalta Coating Systems, Wacker Chemie AG, Sun Coating Company, Valspar Corporation, and Sun Chemical.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the current trends, estimations, and dynamics through 2016-2023, which will assist in identifying prevailing market opportunities.
- Major countries in each region are mapped as per individual market revenue.
- The region-wise and country-wise packaging coatings market conditions have been comprehensively analyzed in the report.
- Key players of the packaging coatings market have been listed.
- This study evaluates the competitive landscape and value chain to understand the competitive environment across geographies.
- An in-depth analysis of segmentation of the packaging coatings market within the market is provided that will assist in prevailing market opportunities.
Packaging Coatings Market Key Segments
By Resin Type
- Polyurethane (PU)
- Polyethylene Terephthalate (PET)
- Others (Plastisol, Amino, etc.)
- Radiation Cured
By Substrate Type
- Carton Boards
- Sandwich Shells
- Wrapping Paper and Bags
- Drinking Cups
- Food Cans
- Personal Care Products
- Pharmaceutical Products
- Others (Drums, Tubes and Containers, etc.)
By End Use Industry
- Food and Beverages
- Personal Care
- Others (Transportation, Logistics)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa