Growing Recycling Rate Drives the Packaging Coatings Market | Technavio

LONDON–(BUSINESS WIRE)–#Chemicals–The global
packaging coatings market is expected to grow at a CAGR of close to
5% from 2017-2021, according to a new market research report by
Technavio.

Global packaging coatings market segmentation by substrate and
end-user

Technavio’s report on the global packaging coatings market analyses the
business dimensions and presents a comprehensive breakdown in terms of
market segmentation by substrate, including paper and board, flexible
packaging, rigid packaging, and metal packaging. As projected in 2016,
around 32% of the market share originated from paper and board.

Based on end-user, the global packaging
coatings market has been segmented into food, beverages,
pharmaceutical, and personal care. As of 2016, around 51% of the market
share came from food.

“The growing necessity for flexible, rigid, and paper and board
packaging to pack foods is expected to drive the demand. Packaging
coatings enhance the shelf life, performance, and processability of the
food. It also improves the aesthetics of the packaging. Such coatings
can keep the food fresh and retain nutritional value for longer periods.
The increasing consumer demand for raw and processed foods is driving
the need for food packaging coating,” says Hitesh Bhatia, a lead
analyst at Technavio for paints,
coatings, and pigments research.

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Global packaging coatings market: competitive vendor landscape

The global packaging coatings market is fragmented due to the presence
of many major and regional vendors. The major vendors in the market are
Akzo Nobel, Arkema, PPG Industries, The Sherwin-Williams Company, and
Wacker Chemie. Some regional vendors are mostly operative in emerging
regions such as Latin America and APAC. The growing industrialization
and urbanization rates in developing countries such as India, Brazil,
Mexico, Indonesia, and China have increased the entry and growth rate of
domestic vendors.

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Other topics covered in the report:

Market drivers:

• Growth in the packaging industry
• Increasing usage of flexible packaging coating

Market challenges:

• Volatility in raw material prices
• Growing concerns of plastic packaging

Market trends:

• Growing preference for bio-based packaging coating
• Growing recycling rate

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packaging coatings market report free of cost

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