Future Market Insights (FMI) predicts a robust future for
the packaging coating market. This growth is primarily driven by
the growing trend of urbanization and its impact on lifestyles.
This trend signifies a rising demand for packaged goods, creating
ample opportunities for the market to expand. FMI's report
highlights the increasing popularity of sustainable packaging
solutions, with bio-based coatings derived from natural sources
emerging as a preferred alternative to conventional coatings. This
focus on sustainability is expected to be a key driver of market
growth in the coming years.
NEWARK, Del., April 30, 2024 /PRNewswire/ -- The global
packaging coating market will reach a valuation of
US$ 5.4 billion in 2024,
attributed to factors such as urbanization as well as lifestyles.
The trend is set to create new opportunities for the market,
leading to a projected CAGR of 5.4% between 2024 and 2034,
and reaching a total valuation of approximately US$ 9.2 billion by 2034.
Download the Sample PDF report to explore key market
insights and trends:
https://www.futuremarketinsights.com/reports/sample/rep-gb-19541
Metal packaging, including cans and aerosol containers, is
experiencing a resurgence due to its sustainability credentials and
recyclability. Coatings that provide corrosion resistance,
decorative finishes, and brand differentiation for metal substrates
will to witness increased demand.
Nano coatings, which utilize nanotechnology to impart unique
properties including enhanced barrier properties, and antimicrobial
effects, are emerging as a promising area of innovation in the
packaging coating market. The coatings offer superior performance
in terms of durability and functionality.
The shift towards bio-based materials and renewable resources is
driving the demand for bio-based coatings derived from natural
sources such as plant-based polymers, starches, and waxes. The
coatings offer a more sustainable alternative to conventional
petroleum-based coatings.
Smart packaging solutions equipped with sensors, RFID tags, and
NFC technology enable real time monitoring of product freshness,
integrity, and location throughout the supply chain. Coatings
compatible with smart packaging applications, such as printable
electronics and conductive inks, enable the integration of
intelligent features into packaging designs.
Increasing consumer awareness of environmental issues is driving
demand for plant-based and renewable packaging materials. Coatings
derived from renewable sources, such as bio-based polymers and
natural resins, are aligned with this trend and offer sustainable
alternatives to conventional coatings.
The transition towards a circular economy model, where materials
are reused, recycled, or repurposed at the end of their lifecycle,
is influencing packaging design and material selection.
Coatings that facilitate the recyclability and compatibility of
packaging materials with existing recycling infrastructure support
the circular economy agenda. Coatings that enable downgauging of
packaging materials while maintaining performance characteristics,
such as strength and barrier properties, contribute to
sustainability efforts and cost savings.
Report Scope
Attribute
|
Details
|
Estimated Market
Size in 2024
|
US$ 5.4
billion
|
Projected Market
Valuation in 2034
|
US$ 9.2
billion
|
Value-based CAGR
2024 to 2034
|
5.4 %
|
Forecast
Period
|
2024 to 2034
|
Historical Data
Available for
|
2019 to 2023
|
Market
Analysis
|
Value in US$
Billion
|
Key Market Segments
Covered
|
By Type:
- Epoxy Thermoset
- Urethane
- UV Curable
- BPA Free
- Soft Touch UV Curable and Urethane
By Application:
- Food Cans
- Beverage Cans
- Caps and Closures
- Aerosols and Tubes
- Industrial Packaging
- Promotional Packaging
- Specialty Packaging
By End User:
- Food and Beverages
- Cosmetics
- Pharmaceuticals
- Consumer Electronics
- Automotive Components
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
|
Key Countries
Profiled
|
- The United States
- Canada
- Brazil
- Mexico
- Germany
- France
- France
- Spain
|
- Italy
- Russia
- Poland
- Czech Republic
- Romania
- India
- Bangladesh
- Australia
|
- New Zealand
- China
- Japan
- South Korea
- GCC countries
- South Africa
- Israel
|
Key Coverage in the
Packaging Coating Industry Report
|
- Packaging coating trends
- Coating solutions for packaging
- Sustainable packaging coatings
- Innovative packaging coating
technologies
- Protective coatings for packaging
- Printing Inks Market
- Adhesives and Sealants Market
- Flexible Packaging Market
|
Key Takeaways from the Market Study
- Global packaging coating market was valued at US$ 5.1 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of
7.1%.
- The market in Korea to expand at a CAGR of 6.9% through
2034.
- By type, the epoxy thermoset segment to account for a CAGR of
5.2% through 2034.
- The market in China will
expand at a CAGR of 6.2% through 2034.
- In terms of end user, the food and beverage segment to account
for a CAGR of 5.0% through 2034.
"There is a growing demand for lightweight packaging
solutions, as manufacturers seek to reduce packaging waste and
transportation costs," says Ismail
Sutaria (Lead Consultant, Packaging and Materials at
Future Market Insights, Inc.).
Competitive Landscape
Prominent players in the packaging coating market are Akzo Nobel
N.V., PPG Industries, Inc., Sherwin-Williams Company, Axalta
Coating Systems, RPM International Inc., Kansai Paint Co., Ltd.,
Jotun Group, Tikkurila Oyj, Nippon Paint Holdings Co., Ltd., Altana
AG, Fujikura Kasei Co., Ltd., Toyo Ink SC Holdings Co., Ltd., Dymax
Corporation, Michelman, Inc., and Follmann GmbH & Co. KG.,
among others.
Company Portfolio
- Toyo Ink SC Holdings Co. Ltd. is a Japanese company
specializing in printing inks, coatings, and related products. It
offers packaging coatings for various substrates, including paper,
plastic, and metal, serving the Asia
Pacific region.
- Michelman Inc. is a United
States based manufacturer of coatings, surface modifiers,
and additives for packaging, printing, and industrial applications.
The company serves customers across North
America, Europe, and
Asia Pacific regions.
Purchase now and gain full access to
the Packaging Coating Industry report, featuring comprehensive
Market Forecast, Company Share Analysis, Competition Intelligence,
DROT Analysis, Market Dynamics and Challenges, and Strategic Growth
Initiatives.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global
packaging coating market, providing historical data for 2019 to
2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the packaging coating market, the
market is segmented on the basis of type (epoxy thermoset,
urethane, UV curable, BPA free, soft touch UV curable and
urethane), application (food cans, beverage cans, caps and
closures, aerosols and tubes, industrial packaging, promotional
packaging, specialty packaging), and end user (food and beverages,
cosmetics, pharmaceuticals, consumer electronics, automotive
components), across seven major regions (North America, Latin
America, Western Europe,
Eastern Europe, South Asia & Pacific, East Asia, and the Middle East & Africa).
About the Packaging Division at Future Market
Insights
The packaging team at Future Market Insights offers expert
analysis, time efficient research, and strategic recommendations
with the objective to provide authentic insights and accurate
results to help clients worldwide. With a repertoire of over 100+
reports and 1 Billion+ data points, the team has been analyzing the
market lucidly in 50+ countries for over a decade. The team
provides a brief analysis on key trends including competitive
landscape, profit margin, and research development efforts.
About the Author:
Ismail Sutaria (Lead Consultant,
Packaging and Materials) has over 8 years of experience in market
research and consulting in the packaging & materials industry.
Ismail's strength lies in identifying key challenges faced by the
client and offering logical and actionable insights to equip the
clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational
consulting assignments. His key skills include competitive
benchmarking, opportunity assessment, macroeconomic analysis, and
business transformation advisory. Ismail is an MBA holder in
Marketing and has a Bachelor's Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has
been widely covered in electronic and print media. He is a Speaker
at our upcoming Talk show - Rise of the Intelligent Packaging.
Ismail has been quoted in leading publications, including the
European Pharmaceutical Review and the European Adhesive Tape
Association.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading market intelligence
and consulting service provider, serving clients in over 150
countries. FMI is headquartered in Dubai and has delivery centers in the UK, the
U.S., and India. FMI's latest
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