Packaging Coatings Market Overview: Market Size, Major Drivers And Trends
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The packaging coatings market has witnessed strong growth, rising from $4.33 billion in 2023 to $4.58 billion in 2024, with a CAGR of 5.8%. Historical drivers include increasing consumer goods demand, material science advancements, stringent regulations, urbanization, and sustainability drives. Projecting to 2028, the market is expected to sustain its strong growth, reaching $5.71 billion, fueled by factors such as food and beverage industry expansion, flexible packaging demand, health and safety considerations, e-commerce growth, and global supply chain dynamics. Key trends include technological innovations, sustainable coatings, intelligent coatings, bio-based solutions, and personalized printing.
The packaging coatings market is positioned for expansion, driven by the pervasive nature of e-commerce activities. E-commerce has become integral to modern commerce, transforming how goods are bought and sold globally. In this context, packaging coatings play a crucial role by providing protective and visually appealing finishes to products, ensuring their integrity during transportation and delivery. Notably, retail e-commerce sales in the United States experienced a significant increase in the third quarter of 2023, reflecting a 2.3% growth compared to the previous quarter, as per the U.S. Census Bureau. As e-commerce continues to proliferate, the demand for packaging coatings is expected to rise, driven by the necessity for effective product protection and presentation in the online retail sphere.
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What Are The Key Trends That Influence Packaging Coatings Market Share Analysis?
Major companies are developing innovative eco-friendly products such as oxygen barrier coatings to enhance their market position. These coatings are applied to packaging surfaces to prevent oxygen permeation, thereby extending the shelf life and preserving the freshness of packaged goods. For instance, Hubergroup Print Solutions, a US-based provider of printing inks and coatings, launched the HYDRO-LAC GA oxygen barrier coating in March 202 This product provides a high barrier against oxygen and water vapor, supporting recyclable packaging and ensuring the freshness of food products.
Which Market Players Are Driving Growth In The Packaging Coatings Market?
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.
How Is The Global Packaging Coatings Market Segmented?
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
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The Packaging Coatings Global Market Report 2024 provides an overview of the packaging coatingsmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The packaging coatings market forecast analyzes packaging coatings market size, packaging coatings market share, leading competitor and their market positions.
The Table Of Content For The Packaging Coatings Market Include
1. Packaging Coatings Market Executive Summary
2. Packaging Coatings Market Segments
3. Packaging Coatings Market Size And Template Market Growth Rate
4. Key Packaging Coatings Market Trends
5. Major Packaging Coatings Market Drivers
……
25. Key Mergers And Acquisitions In The Packaging Coatings Market
26. Top Packaging Coatings Companies
27. Packaging Coatings Market Opportunities And Strategies
28. Packaging Coatings Market, Conclusions And Recommendations
29. Appendix
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