Global Packaging Coating Market: Geographical Expansion & Development Status Recorded during 2017-20
The global packaging coating market is expected to represent a value of over US$ 4,000 Mn by the end of 2022.
[USPRwire, Thu Jan 17 2019] The packaged food and beverages industry is one of the key end-use industries that has been influenced by the changing dynamics of the packaging coating market. The differing consumer demand for preservation of taste, aroma, and nutrition across a wide variety of food products has been defining product developments in the packaging coating market. Several prominent providers of packaging coating applications are engaged in extensively testing new technologies for food and beverages packaging. This has accelerated the development of better functional coatings for various types of packaging materials, such as improvements in acrylic coatings, which is fueling the expansion of the packaging coating market.
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The end-use industry is projected to reach worth of US$400 Mn by the end of 2022 end, rising at a substantial CAGR. The segment is expected to garner the dominant revenue growth in the global packaging coating market. Meanwhile, the industrial product segment is prognosticated to garner the most attractive CAGR during 2017–2022.
Evolving Demand in Construction Industry to see New Varieties of Water-proof and Corrosion-resistant Packaging Coatings
A range of packaging coating is gaining popularity for meeting the needs for durability and resistance of architectural membranes in the building and construction industry. The rising demand for better packaging coatings that can impart protection for aluminum coils and steel materials is a notable factor bringing improved products in the packaging coatings market. The growing popularity of energy-efficient as well as aesthetically pleasing roofs for modern buildings is also fueling the expansion of the packaging coatings market. The growing use of metal roof coatings based on fluoropolymers to ensure the benefits of UV and chemical resistance is a promising development in the packaging coating market for the construction end-use industry. The rising use of thermoplastics in the construction machinery used such as power tools, gear wheels, and cupboard hinges is bolstering the uptake of protective packaging coating in the industry.
Apart from the extensive adoption of packaging coatings in the building and construction industry, the rising demand for coatings for semiconductor and electronics packaging is also making rapid strides. This is expected to open lucrative avenues in the packaging coating market. The demand in this end-use industry is also fueled by the advent of high-performance coatings, such as temperature-sensitive packaging coatings.
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About the Report
The report titled “Packaging Coating Market Forecast, Trend Analysis & Competition Tracking – Global Market insights 2017 to 2022”, takes an incisive look at the various aspects of the dynamics of the global packaging coating market. Insights into the drivers and restraints, promising avenues, evolving needs of end-use industries, global competitive dynamics, and promising product launches in recent years are among the various aspects covered in the report on the global packaging coating market. The study offers a critical overview of the current outlook and future growth trajectories by making detailed estimations of the packaging coating market and its segments. Furthermore, the report offers projections of various segments which help shed light on emerging opportunities and the technology areas of packaging coating in which investors in various parts of the world will be interested. The demand dynamics of various coating types analyzed in the report include evaluation of prospects of acrylic coatings, epoxy coatings, fluoropolymer coating, plastisol coatings, plastisol coatings, and polyurethane coatings. The study takes a closer look at advances in various substrate types in the packaging coating market, such as metal can, PET bottles, glass, flexible plastic, rigid plastic, and liquid carton.
Over the past few decades, packaging has undergone several exciting transformations in end-use industries with respect to the broad functionality and aesthetics demands packaging applications are expected to meet. These shifts have been influenced by the changing demands for safety and protection for a variety of packaging types in various horizontal verticals, including food and beverages, consumer product, chemical packaging, paints and coating, semiconductor and electronics, and industrial product. The rapid evolution made by the packaging coating market is increasingly underpinned by these changes. The advent of new packaging coating technologies and emerging needs of end-use industry verticals will present new avenues in the packaging coating market.
Assessment of Strategic Landscape of Packaging Coating Market
Some of the prominent players who will garner increased attention of stakeholders over the coming years are Axalta Coating Systems, DuPont, Solvay S.A., Nippon paint, Kansai Paints, Evonik Industries, BASF SE, Sherwin Williams, AkzoNobel, and PPG Industries.
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