The global packaging coatings market size reached US$ 3.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.8% during 2023-2028.
Packaging coatings refer to various specialized chemical agents that are applied inside or on the surface of packaging products. They are applied to various metal, plastic and paper-based containers, cans, closures, and industrial packaging products. Epoxy resins, acrylic resins, polyester and polyurethane resins, are the most commonly available resins used for packaging coatings. These coatings aid in increasing the product shelf-life and provide additional protection, corrosion resistance and aesthetic appeal. Owing to this, they find extensive applications in the food and beverages, personal care and healthcare industries.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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The growing retail and e-commerce industries, along with the rapid industrialization and urbanization across the globe, is one of the key factors driving the growth of the market. There is a growing demand for flexible packaging to store various consumer goods, such as aerosol cans for personal care products, which use coatings to protect the contents. Furthermore, the increasing utilization of acrylic-based coatings is also creating a positive impact on the market. Acrylic variants offer high transparency, durability and resistance to stains, blistering, heat and cracking to various consumer goods products. Additionally, the growing demand for canned food and beverages is also providing a boost to the market growth. Other factors, including the increasing consumer preference for attractive packaging, various technological advancements and extensive research and development (R&D) activities to develop sustainable and more effective packaging coatings, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global packaging coatings market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on substrate, resin, formulation and application.
Breakup by Substrate:
Plastic
Metal
Paper
Glass
Others
Breakup by Resin:
Epoxy
Acrylic
Polyurethane
Polyester
Others
Breakup by Formulation:
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Water-Based
Solvent-Based
Radiation-Cured
Powder-Based
Breakup by Application:
Beverages
Food Products
Caps and Closures
Monobloc and Tubes
Others
Breakup by Region:
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Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
North America
United States
Canada
Latin America
Brazil
Mexico
Argentina
Colombia
Chile
Peru
Others
Middle East and Africa
Turkey
Saudi Arabia
Iran
United Arab Emirates
Others
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being 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, Wacker Chemie AG Ltd., etc.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Substrate, Resin, Formulation, 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, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates
Companies Covered
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 Ltd.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 2499
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Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global packaging coatings market was valued at US$ 3.5 Billion in 2022.
We expect the global packaging coatings market to exhibit a CAGR of 3.8% during 2023-2028.
The rising demand for packaging coatings across various industries, such as consumer goods, personal care, healthcare, etc., as they are chemical resistance, ensure the safety of the products, extend the shelf life of contents, etc., is primarily driving the global packaging coatings market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for packaging coatings.
Based on the substrate, the global packaging coatings market has been divided into plastic, metal, paper, glass, and others, where metal currently exhibits a clear dominance in the market.
Based on the resin, the global packaging coatings market can be categorized into epoxy, acrylic, polyurethane, polyester, and others. Currently, epoxy accounts for the majority of the global market share.
Based on the formulation, the global packaging coatings market has been segregated into water-based, solvent-based, radiation-cured, and powder-based. Among these, water-based currently exhibits a clear dominance in the market.
Based on the application, the global packaging coatings market can be bifurcated into beverages, food products, caps and closures, monobloc and tubes, and others. Currently, food products hold the largest market share.
On a regional level, the market has been classified into Europe, Asia Pacific, North America, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global packaging coatings market 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, Wacker Chemie AG Ltd., etc.
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