The latest report by IMARC Group, titled “Packaging Coating Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global packaging coating additives market is expected to grow at 4.53% during the forecast period (2022-2027). Packaging coating additives refer to specialized substances used to enhance the physical, chemical, mechanical, and thermal properties of packaging products. They are combined with solvents and applied using various methods, such as coating, dipping, and spraying, for varnishing layers of paper, cans, containers, and boxes. They possess superior corrosion resistance, water repellency, pH stability, and antimicrobial properties. They help minimize surface friction, ensure product safety, reduce the risk of external contamination, and improve package manufacturing and processing performance. As a result, packaging coating additives find extensive applications in packaging consumer goods, medical equipment, and industrial products.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Packaging Coating Additives Market Trends:
The surging health consciousness among consumers due to the rising incidences of nosocomial infection represents the primary factor driving the market growth. Additionally, the recent coronavirus disease (COVID-19) outbreak has strengthened the need for non-toxic and antimicrobial packing solutions, such as packaging coating additives, across various industries. In line with this, the growing consumption of ready-to-eat (RTE) and processed foods owing to the changing consumer preferences, elevating income levels, and hectic lifestyles have encouraged product adoption to prevent food spoilage or leakage and extend its shelf life. Besides this, the increasing popularity of anti-fog packaging coating additives to maintain the clarity and transparency of the packaging is another major growth-inducing factor. Furthermore, the leading manufacturers are engaging in research and development (R&D) activities and utilizing aseptic processing in manufacturing stages to enhance product performance. Along with this, the launch of bio-based slip additives to reduce plastic waste has augmented product demand. Other factors, including the expanding food and beverage (F&B) sector, shifting preferences toward flexible coating additives, rising consumer concerns regarding the spread of infectious diseases, and surging penetration of online food delivery services, are also providing a positive thrust to the market growth.
- Based on the formulation, the market has been classified into water-, solvent-, and powder-based.
- On the basis of the function, the market has been segmented into slip, anti-static, anti-fog, anti-block, and antimicrobial.
- The market has been divided based on the application into food and beverage, industrial, healthcare, consumer, and other packaging.
- Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being 3M Company, Akzo Nobel N.V., Altana AG, Arkema S.A., BASF SE, Clariant AG, Croda International Plc, Daikin Industries Ltd., DIC Corporation, Evonik Industries AG, Lonza Group AG, PPG Industries Inc., Solvay S.A., and The Sherwin-Williams Company
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