USD 4.90 billion
Packaging Coatings Market Size, Share, Growth Analysis, By Type(Solvent-based Coatings and Water-based Coatings), By Material(Plastics and Paper), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2197 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
59
|Figures:
75
Packaging Coatings Market Insights
Global Packaging Coatings Market size was valued at USD 4.90 billion in 2022 and is poised to grow from USD 5.16 billion in 2023 to USD 7.87 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).
The global packaging coating market is expected to experience significant growth in the coming years. The increasing demand for packaged foods and beverages and the growing e-commerce industry are key drivers of the market. Additionally, the rising concerns over environmental sustainability have led to the development of eco-friendly packaging coatings. Moreover, the increasing demand for packaged goods across various industries, including food and beverages, pharmaceuticals, and consumer goods, drives market growth. The rising population, urbanization, and changing lifestyle patterns have led to a surge in packaged food and beverage consumption, boosting the need for effective packaging coatings. The growing focus on sustainability and eco-friendly packaging solutions has also stimulated the demand for bio-based and environmentally friendly coatings. Consumers are increasingly conscious of the environmental impact of packaging materials and actively seek greener alternatives, prompting manufacturers to develop coatings with reduced carbon footprint and enhanced recyclability. Moreover, stringent food safety and hygiene regulations have compelled manufacturers to invest in high-quality packaging materials and coatings. Packaging coatings are crucial in preventing contamination, preserving product integrity, and complying with regulatory standards.
The global packaging coatings market is witnessing robust growth due to the increasing demand for packaged goods, stringent regulations, sustainability concerns, and expanding industrial sectors. The market is characterized by a wide range of product types and intense competition among key players. With the continuous development of advanced coatings and a growing emphasis on eco-friendly solutions, the packaging coatings market is expected to thrive in the coming years.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Solvent-based Coatings
Fastest Growth
Solvent-based Coatings
Growth Rate
5.4% CAGR
Global Packaging Machinery Market 2021-2030 ($ Bn)
Country Share for APAC Region- 2021 (%)
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Packaging Coatings Market Segmental Analysis
Global Packaging Coatings market is segmented by type, material, and region. Based on type, the market can be segmented into solvent-based coatings and water-based coatings. Based on Material, the market is segmented into plastics and paper. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Packaging Coatings Market Analysis by Type
By type, the market can be segmented into solvent-based coatings and water-based coatings. Solvent-based coatings dominated the global packaging coating market. These coatings have been widely used in packaging due to their excellent adhesion and durability properties. Solvent-based coatings provide a strong protective layer to packaging materials, enhancing their resistance to moisture, chemicals, and physical damage. They are known for adhering well to various substrates such as paper, metal, and plastic, making them versatile for different packaging types.
Water-based coatings are experiencing rapid growth in the global packaging coating market. These coatings have gained popularity due to their eco-friendly nature and lower VOC emissions compared to solvent-based alternatives. Water-based coatings use water as the carrier, making them more sustainable and aligned with the increasing demand for environmentally conscious packaging solutions.
Global Packaging Coatings Market Analysis by Material
By Material, the market can be segmented into plastics and paper. Plastics dominated the global packaging coating market in terms of material. Plastics are widely used in packaging due to their versatility, lightweight nature, and ability to provide excellent barrier properties. Plastics offer various advantages such as durability, flexibility, and cost-effectiveness, making them suitable for a wide range of packaging applications across industries.
Paper is the fastest growing segment in the global packaging coating market. The increasing focus on sustainability, environmental concerns, and the preference for recyclable and biodegradable packaging materials have contributed to the growth of paper-based packaging coatings. Paper packaging offers several advantages such as being renewable, easily recyclable, and having a lower carbon footprint compared to plastics.
Global Packaging Coatings Market Size By Type, 2021 (%)
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Packaging Coatings Market Regional Insights
The Asia-Pacific (APAC) region is the largest and fastest-growing market for packaging coatings globally. This is due to the increasing demand for packaged food and beverages, a growing population, and a rising middle class with higher disposable income in countries such as China, India, Japan, and South Korea.
North America is a rapidly growing region of a packaging coatings market, with a strong focus on sustainability and eco-friendly solutions. The region is home to several leading companies in the packaging coating industry, and the demand for eco-friendly packaging coatings is expected to drive the market growth. The US and Canada are major markets for packaging coatings in North America.
Global Packaging Coatings Market By Geography, 2021-2030
- Largest
- Fastest
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Packaging Coatings Market Dynamics
Global Packaging Coatings Market Drivers
Increasing demand for packaged food and beverages
- One key driver of the global packaging coating market is the increasing demand for packaged food and beverages. The growth of the food and beverage industry, coupled with changing consumer preferences towards convenient and ready-to-eat products, is driving the demand for packaging coatings. These coatings protect and enhance the appearance of various packaging materials, helping to ensure the quality and safety of packaged products. The rising popularity of e-commerce and online food delivery services is also expected to drive the demand for packaging coatings, as products need to be protected during transportation and delivery.
Global Packaging Coatings Market Restraints
Increasing focus on sustainable and eco-friendly packaging solutions
- One significant restraint on the global packaging coating market is the increasing focus on sustainable and eco-friendly packaging solutions. Many governments and consumers are becoming more aware of the environmental impact of packaging materials, leading to a shift towards more sustainable and biodegradable materials. This shift in consumer preferences is expected to drive down the demand for traditional packaging coatings that are not eco-friendly. Additionally, the higher cost of developing and implementing sustainable packaging solutions may pose a challenge for smaller players in the packaging coating market.
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Packaging Coatings Market Competitive Landscape
The global packaging coating market is highly competitive, with several players vying for market share. Companies in the market are focusing on innovation and developing sustainable solutions to meet the changing demands of consumers. Many companies are also expanding their global footprint through strategic partnerships and acquisitions. The market is characterized by intense competition, with players competing on factors such as product quality, price, and environmental sustainability. The increasing focus on sustainable packaging solutions is expected to lead to further innovation and competition in the market.
Top Player’s Company Profiles in Global Packaging Coatings Market
- PPG Industries (US)
- AkzoNobel N.V. (Netherlands)
- Axalta Coating Systems LLC (US)
- The Valspar Corporation (US)
- Kansai Paint Co., Ltd. (Japan)
- RPM International Inc. (US)
- Wacker Chemie AG (Germany)
- BASF SE (Germany)
- DIC Corporation (Japan)
- Altana AG (Germany)
- Arkema S.A. (France)
- Pexa Ltd (UK)
- The Chemours Company (US)
- Teknos Group Oy (Finland)
- Jotun A/S (Norway)
- Yung Chi Paint & Varnish Mfg. Co., Ltd. (Taiwan)
- IGP Powder Coatings (Switzerland)
- Eastman Chemical Company (US)
- Royal DSM N.V. (Netherlands)
Global Packaging Coatings Market Recent Developments
-
PPG will begin providing electrocoating (e-coat) services for original equipment manufacturer (OEM) aviation parts in 2023 thanks to a partnership with Satys, a French industrial organization that specializes in sealing, painting, and surface treatment for aircraft.
-
November 2022 For efficient recyclability, Henkel and Siegwerk created an oxygen barrier layer for flexible monomaterial plastic food packaging. Without sacrificing shelf life, "industrially validated oxygen barrier coating" is made possible by the flexible monomaterial packaging. Increased circularity and recyclability are made possible by the product. Because it restricts environmental leakage and maintains resources in the cycle, this has a favorable environmental impact.
-
The top coatings producer Nippon Paint China and BASF introduced an environmentally friendly industrial packaging in August 2022, which was incorporated into the Nippon Paint dry-mixed mortar family of products. With the introduction, China saw the first application of BASF's water-based barrier coatings in industrial packaging.
-
Hubergroup Print Solutions unveiled a brand-new HYDRO-LAC GA Oxygen Barrier Coating in May 2022. The novel covering allows for mono-material packaging while shielding the food within from air. The new coating can be recycled more easily and put back into the material cycle.
Packaging Coatings Key Market Trends
- One key trend in the global packaging coating market is the increasing adoption of digital printing technology for packaging. Digital printing allows for more personalized and flexible packaging designs, with faster turnaround times and lower costs compared to traditional printing methods. The technology is particularly popular in the food and beverage industry, where companies are using it to create customized packaging for limited-time promotions or seasonal products. The trend is expected to continue to grow, with the technology becoming more sophisticated and widely adopted in the packaging industry.
Packaging Coatings Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global packaging coating market analysis, the market is driven by the increasing demand for packaged food and beverages, coupled with the rising focus on sustainable and eco-friendly packaging solutions. The Asia-Pacific region dominated the market. The market is highly competitive, with companies focusing on innovation and developing sustainable solutions. One key trend in the market is the adoption of digital printing technology for packaging, allowing for more personalized and flexible packaging designs. However, the shift towards sustainable packaging solutions may pose a challenge for smaller players in the market. Overall, the packaging coating market is expected to grow in the coming years, driven by the increasing demand for eco-friendly and innovative packaging solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.90 billion |
| Market size value in 2031 | USD 7.87 billion |
| Growth Rate | 5.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Packaging Coatings Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Packaging Coatings Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Packaging Coatings Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Packaging Coatings Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Packaging Coatings Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Packaging Coatings Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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