Packaging coatings are an integral part of packaging industry and will continue gaining importance as they are designed to provide maximum protection & performance to the products. These mainly include barrier properties, antistatic capabilities, and attractive appearance.

According to a new report published by Allied Market Research titled, Packaging Coatings Market by Type, Substrate, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global packaging coatings market was valued at $2,830 million in 2016, and is projected to reach $3,865 million by 2023, growing at a CAGR of 4.6% from 2017 to 2023. Asia-Pacific held one-third share of the global market in 2016.

In 2015, Asia-Pacific and Europe collectively accounted for two-thirds share of the global packaging coating market, and are expected to continue this trend. China, India, and other developing countries are expected to witness high growth rate in the Asia-Pacific during the forecast period.

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The major companies profiled in the report include 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, and Wacker Chemie AG, Allnex Belgium SA/NV, and FlintGroup.
Packaging coatings are the materials closely related to the packaging industry that help protect the content of the package, augment the durability of the package, and enhance the products appearance making it more appealing & attractive.

Increase in number of applications in various industries, such as food & beverage, consumer goods, and others drive the market. In addition, demand for flexible packaging coatings, growth of food & beverage industry, and increase in trend for E-commerce also fuel the market. Asia-Pacific is the leading region, in terms of growth, due to massive urbanization, growth in income of people living in urban areas, and rapid industrial development.

The global packaging coatings market is segmented by type, substrate, application, end user, and geography. By type, the market is classified into epoxy thermoset, urethane, UV-curable, BPA free, and soft touch UV-curable & urethane. By substrate, it is categorized into metal, rigid plastic, glass, liquid cartons, paper-based containers, flexible packaging, and others. By application, it is divided into food cans, beverage cans, caps & closures, aerosols & tubes, industrial packaging, promotional packaging, and specialty packaging. By end user, it is segmented into food & beverages, cosmetics, pharmaceuticals, consumer electronics, and automotive components. By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Nevertheless, stringent government regulations and harmful VOC emissions during production limits the market growth and direct companies to look for alternatives. Growth in demand from emerging economies such as China & India and continuous advancements in packaging industry coupled with ongoing R&D activities to develop sustainable and more effective packaging coatings are some of the great opportunities for the market expansion.

Key Benefits:

• This report provides an extensive analysis of the current trends and emerging estimations & dynamics of the global packaging coatings market.
• Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
• Detailed analysis of the industry based on the type and application help understand the trending product type and potential applications.
• Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• Extensive analysis of the market is conducted by following key product positioning and monitoring of top players within the market framework.