As per a new report published by Fact.MR – a market research and competitive intelligence provider, the global packaging coating market is anticipated to exceed a valuation of US$ 3.1 Bn in 2021, and expand at an impressive CAGR of more than 6% over the forecast period of 2021 to 2031.
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The market is in the growth phase of its lifecycle, having registered annual growth of 4.6% during 2016 – 2020. Fact.MR anticipates significant potential in the market, owing to factors such as increasing consumption of packaged food and growing demand for fancy packaging in several applications.
Use of coatings in the packaging industry has been the talk of the town. On a good notes, coatings have played a prominent role in ensuring packaging quality and preserving food flavour. However, in the past, the coating industry utilized synthetic coatings that tend to diffuse with the food causing long-term health problems, which has become a reason to worry.
To deal with this pressing issue, over the past half-decade, manufacturers have invested billions of dollars on bio-based coatings that are human- as well as environmental-friendly.
However, bio-based coatings are expensive as compared to conventional coatings. To overcome this issue, regional governments are focussing on gradual banning of conventional non eco-friendly packaging coatings, bolstering the adoption of bio-based coatings.
Aside from the high coverage of food packaging coatings, demand for electronics packaging and semiconductor coating is also on the rise. It is anticipated that this will open new avenues for packaging manufacturers. Demand from this end-use industry is also driven by the advent of temperature-sensitive packaging coatings for high performance applications.
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Market Segments Covered in Packaging Coatings Industry Analysis
- By Coating Type
- Acrylic Packaging Coatings
- Epoxy Thermoset Packaging Coatings
- Fluoropolymer Packaging Coatings
- Plastisol Packaging Coatings
- Polyester Packaging Coatings
- Polyurethane Packaging Coatings
- By Packaging Type
- Metal Can Packaging Coatings
- PET Bottles Packaging Coatings
- Glass Packaging Coatings
- Flexible Plastic Packaging Coatings
- Rigid Plastic Packaging Coatings
- Liquid Carton Packaging Coatings
- By End-Use
- Food & Beverage Packaging Coatings
- Consumer Product Packaging Coatings
- Chemical Packaging Coatings
- Paint and Coating Packaging Coatings
- Industrial Product Packaging Coatings
- Semiconductor and Electronics Packaging Coatings
- By Technology
- Coil & Sheet Packaging Coatings
- Roll Packaging Coatings
- Spray Packaging Coatings
- Functional Packaging Coatings
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Key Takeaways from Market Study
- North America accounted for a major chunk of the market at over 27% market share.
- The U.S. is projected to create an incremental opportunity of over US$ 450 million during 2021-2031.
- Europe’s market for packaging coatings is likely to be the second-largest market during the forecast period.
- Fluoropolymer coatings are likely to be one of the highly preferred packaging coating types. Towards the end of 2031, fluropolymer coatings are estimated to reach close to US$ 690 million in revenue.
- Polyester coatings are also expected to experience robust demand growth during 2021-2031.
“Food packaging to provide strong demand growth for packaging coatings,” says a Fact.MR analyst.
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The report covers following Packaging Coating Market insights and assessment that are helpful for all participants involved in the Intradermal Injections market:
- Data on recently introduced regulations and their impact on key industries and on demand in Intradermal Injections
- Latest industry Analysis on Packaging Coating Market, with key analysis of market drivers, trends, and influencing factors
- Key trends Analysis of Packaging Coating Market and changing consumer preferences in major industries.
- Changing Intradermal Injections demand and consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Intradermal Injections major players
- Packaging Coating Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Intradermal Injections demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
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