IMARC Group’s latest research report, titled “Packaging Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, offers a comprehensive analysis of the industry, which comprises insights into the packaging coatings market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global packaging coatings market size reached US$ 3.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.8% during 2023-2028.
Packaging Coatings Market Overview:
Packaging coatings are specialized materials applied to the surface of packaging materials, such as metals, paper, and plastics, to serve functional and aesthetic purposes. These coatings are formulated to provide properties such as resistance to moisture, UV light, and abrasion, while also improving the tactile feel and visual appeal of the packaging.
The coatings often consist of resins, additives, and pigments that work in synergy to achieve desired performance characteristics. With their ability to extend the shelf life of packaged goods and enhance printing capabilities, packaging coatings are becoming indispensable in various sectors, including food and beverage, pharmaceuticals, and consumer goods.
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Packaging Coatings Market Growth:
The global market is primarily influenced by the growing need for extended shelf life of consumer products. In line with this, the demand for coatings that adhere to regulatory standards is contributing to market momentum. Moreover, the increasing use of sustainable and recyclable materials in packaging is fostering market growth. In addition to this, advancements in nanotechnology applied to coatings offer enhanced protective features, thereby encouraging higher investments.
Besides this, heightened consumer awareness of product safety is creating new market opportunities. Also, the influence of emerging economies with growing consumer markets is positively affecting the sector. The market is further propelled by the rise in e-commerce, which requires durable and visually appealing packaging. Apart from this, an expanding food and beverage industry calls for specialized coatings that meet hygiene standards. Some other contributing factors include the trend toward customization in packaging design and the intensive research and development activities aimed at creating advanced coating solutions.
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Competitive Landscape:
- 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.
Key Market Segmentation:
Breakup by Substrate:
- Plastic
- Metal
- Paper
- Glass
- Others
Breakup by Resin:
- Epoxy
- Acrylic
- Polyurethane
- Polyester
- Others
Breakup by Formulation:
- Water-Based
- Solvent-Based
- Radiation-Cured
- Powder-Based
Breakup by Application:
- Beverages
- Food Products
- Caps and Closures
- Monobloc and Tubes
- Others
Breakup by Region:
- North America (United States, Canada)
- Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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