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 refer to various specialized chemical agents that are applied inside or on the surface of packaging products. They are applied to various metal, plastic and paper-based containers, cans, closures, and industrial packaging products. Epoxy resins, acrylic resins, polyester and polyurethane resins, are the most commonly available resins used for packaging coatings. These coatings aid in increasing the product shelf-life and provide additional protection, corrosion resistance and aesthetic appeal. Owing to this, they find extensive applications in the food and beverages, personal care and healthcare industries.
The growing retail and e-commerce industries, along with the rapid industrialization and urbanization across the globe, is one of the key factors driving the growth of the market. There is a growing demand for flexible packaging to store various consumer goods, such as aerosol cans for personal care products, which use coatings to protect the contents. Furthermore, the increasing utilization of acrylic-based coatings is also creating a positive impact on the market. Acrylic variants offer high transparency, durability and resistance to stains, blistering, heat and cracking to various consumer goods products. Additionally, the growing demand for canned food and beverages is also providing a boost to the market growth. Other factors, including the increasing consumer preference for attractive packaging, various technological advancements and extensive research and development (R&D) activities to develop sustainable and more effective packaging coatings, are projected to drive the market further.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global packaging coatings market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on substrate, resin, formulation and application.
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:
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- North America
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Others
- Middle East and Africa
- Turkey
- Saudi Arabia
- Iran
- United Arab Emirates
- Others
Competitive Landscape:
- The competitive landscape of the industry has also been examined with some of the key players being 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., etc.
Key Questions Answered in This Report:
- How has the global packaging coatings market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global packaging coatings market?
- What are the key regional markets?
- What is the breakup of the market based on the substrate?
- What is the breakup of the market based on the resin?
- What is the breakup of the market based on the formulation?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the market?
- What is the structure of the global packaging coatings market and who are the key players?
- What is the degree of competition in the market?