The packaging coatings market is projected to grow from USD 4.21 billion in 2024 to USD 5.37 billion by 2029, at a CAGR of 5.0% between 2024 and 2029. The report includes information on market trends and development, packaging coatings growth drivers, emerging technologies, and the investment structure of the market. The packaging coatings industry is growing and promising, as consumer demand for better product protection, looks, and ecological friendliness is rising year by year. Packaging coatings, which can be used as a standalone, are used to enhance the material properties such as metal, plastic, glass, and paper by making them to have barrier properties and to be more durable and attractive. The application of the products of the market is found in industries such as Food & beverages, Pharmaceuticals, personal & industrial care products where the packaging that is safe, durable and aesthetically appealing goes hand in hand with the product.
Some of the major factors that have triggered this growth include There is an enhanced demand for packaged products which is attributed to; Today, most consumers are living in urban areas and their purchasing power is on an upward trend, Due to enhanced B2C electronic commerce. The increased adoption of environmentally friendly packaging materials has also forced packaging coating providers to come up with environmentally friendly water borne and bio-based coatings. Novelty in the coating solutions such as antimicrobial and UV immunity coating solutions is also enhancing market expansion.
The paper packaging segment is still growing at the highest CAGR in the packaging coatings market because of several factors. First, packaging consumers across the world are gradually turning to environmentally friendly packaging, which has been accelerated by legislation on reducing the use of plastics. Paper is degradable and reusable hence has turned to be a favorite as a packaging material especially when compared to plastic. This trend is quite apparent in the food & beverage and personal care categories, which have fast realized that sustainability is a competitive advantage.
Also, the advancement of e-commerce foods and deliveries has shifted its demand toward stronger, protective paper-based packaging board like corrugated boxes, cartons, and paperboard containers. These need coatings, over the base material, designed to improve barrier characteristics that include moisture, grease, and abrasion resistance to spearhead protection of products during warehousing and transportation. This is also because clients involved in paper packaging to enhance the visibility of their brands will be served well by the coatings as they equally enhance the printability of the product.
The packaging coatings market has various small, medium, and large players. Some of the major market players are The Sherwin-Williams Company (US), PPG Industries, Inc. (US), AkzoNobel N.V. (The Netherlands), Altana Group (Germany), Axalta Coating Systems, LLC (US), DIC Corporation (Japan), and Stahl Holdings B.V. (The Netherlands) Inc. among others, have framed their strategies to penetrate and create bases in these emerging markets. Furthermore, companies are concentrating on strengthening their R&D facilities to provide efficient and sustainable products. These products are manufactured considering regulations implemented by associations and governments.
PPG Industries, Inc.: PPG Industries was established in 1883 in the US as the Pittsburgh Plate Glass Company and now it is a world’s largest manufacturers and suppliers of Paints, Coating, optical products and Specialty Materials. PPG is a Fortune 500 corporation that runs more than 70 countries across the globe. The company is structured into two key segments: Performance Coatings, and industrial coatings for consumer products, transportation and general industrial uses; Architectural Coatings for home and business use. PPG is currently headed in Pittsburgh, Pennsylvania and has robust configurations of manufactures all around Asia-Pacific, Europe, Middle East, Africa, Latin America, and North America famous for its exquisite values of innovation, sustainability, and commitment for tailor -made solutions.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=25179867
In January 2024, PPG announced its plan to invest in the advanced manufacturing facility in Tennessee, focusing more onto the coatings produced for automotive industry, along with those required in packaging industry as well.
AkzoNobel N.V.: AkzoNobel N.V. is a multinational Chemical company that deals primarily in providing of paints and coatings. It operates through two main divisions: Decorative and Performance Coatings. Decorative Paints segment is centered to produce diverse range of interior and exterior paints and other related protective coating goods for both professional and retail users. The Performance Coatings segment is focused mainly on coatings for auto, aerospace, marine and industrial businesses and business of powder coatings. It was founded in 1911, AkzoNobel operates in Amsterdam, Netherlands, with a unique record in production coatings.
Related Reports:
Aluminum Foil Packaging Market
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/packaging-coatings-market-25179867.html
