Overview and Scope
Packaging coatings refer to special coatings applied to various packaging materials, such as metal, glass, plastic, and paper, to enhance their performance, protection, and visual appearance. These coatings provide resistance against moisture, corrosion, UV rays, and chemicals, and they are used to improve printability and offer barrier protection.
Sizing and Forecast
The packaging coatings market size has grown strongly in recent years. It will grow from $4.33 billion in 2023 to $4.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increasing consumer goods demand, advancements in material science, stringent regulatory requirements, urbanization and changing lifestyles, sustainability initiatives.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the packaging coatings market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the packaging coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the packaging coatings market report are BASF SE, The Sherwin-Williams Company, Evonik Industries AG, PPG Industries Inc., Solvay S.A., Arkema S.A., Akzo Nobel N.V., Eastman Chemical Company, Nippon Paint Holdings Co. Ltd., Wacker Chemie AG, Masco Corporation, Kansai Paint Co. Ltd., RPM International Inc., DIC Corporation, The Lubrizol Corporation, Sun Coating Company, Axalta Coating Systems LLC, The Valspar Corporation, Hempel A/S, Toyo Ink SC Holdings Co. Ltd., Jotun, ALTANA AG, DAW SE, Siegwerk Druckfarben AG & Co. KGaA, T&K TOKA Co. Ltd., ColorMatrix Group, CROMOS TINTAS GRAFICAS S.A
The packaging coatings market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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