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The global packaging coating additives market is expected to exhibit a CAGR of 4.53% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Packaging coating additives refer to customized packing substances that are combined with solvents and then applied to various packaging solutions to improve their physical, chemical, mechanical, and thermal characteristics. They involve coating, dipping, and spraying as some of the common methods used for varnishing layers of papers, cans, containers and boxes. Packaging coating additives assist in reducing surface friction, ensuring product safety, eliminating the risk of external contamination, and optimizing the manufacturing and processing performance of packages. Apart from this, they exhibit corrosion-resistance, antimicrobial and water-repellency properties, due to which they are extensively used in packaging consumer goods, medical equipment, and industrial products. At present, packaging coating additives are commercially available in water, solvent, and powder-based formulation types.
The increasing prevalence of nosocomial infection, along with the rising consumer concerns regarding the spread of various communicable diseases, is facilitating the need for non-toxic and antimicrobial packing solutions, such as packaging coating additives, across various industrial verticals. This, along with the sudden outbreak of coronavirus disease (COVID-19) pandemic is primarily driving the market growth. Moreover, the rapid expansion in the food and beverage (F&B) sector and the escalating sales of ready-to-eat (RTE) meals due to the hectic lifestyle and evolving consumer preferences have intensified the uptake of packaging coating additives to prevent food spoilage or leakage, which is supporting the market growth. Additionally, the deployment of aseptic processing in manufacturing stages and the introduction of bio-based slip additives to reduce plastic wastes are propelling the market growth. Other factors, such as the rising demand for flexible coating additives, continuous research and development (R&D) activities to enhance product performance, and the extensive use of anti-fog packaging coating additives to help maintain clarity and transparency of the packaging, are positively stimulating the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global packaging coating additives market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on formulation, function and application.
Breakup by Formulation:
Breakup by Function:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles 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.
|Base Year of the Analysis||2021|
|Segment Coverage||Formulation, Function, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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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We expect the global packaging coating additives market to exhibit a CAGR of 4.53% during 2022-2027.
The growing application of packaging coating additives in packaging consumer goods, medical equipment, and industrial products, owing to their corrosion-resistance, antimicrobial, and water-repellency properties is primarily driving the global packaging coating additives market.
The sudden outbreak of the COVID-19 pandemic has led to the rising demand for non-toxic and antimicrobial packing solutions, such as packaging coating additives, across several end-use industries to combat the spread of the coronavirus infection among individuals.
Based on the formulation, the global packaging coating additives market can be segmented into water-based, solvent-based, and powder-based. Currently, water-based holds the majority of the total market share.
Based on the function, the global packaging coating additives market has been divided into slip, anti-static, anti-fog, anti-block, and antimicrobial. Among these, anti-block currently exhibits a clear dominance in the market.
Based on the application, the global packaging coating additives market can be categorized into food and beverage packaging, industrial packaging, healthcare packaging, consumer packaging, and others. Currently, food and beverage packaging accounts for the majority of the global market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global packaging coating additives market include 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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