According to a new market report published by Lucintel, the future of the global packaging coatings industry looks good with increasing demand of metal packaging. The global packaging coatings industry is forecast to grow at a CAGR of 4.2% from 2015 to 2020. The major growth drivers for this market are increasing applications of packaging coatings in different end-markets and increasing use of packaged products.
Major applications of coatings are in metal, plastic, glass, and paper packaging. Lucintel predicts that metal packaging coating is expected to remain the largest segment with highest growth rate during the forecast period due to its continuous increasing demand for metal food and beverage cans.
Within the packaging coating industry, by formulation type, water-based coatings are expected to remain the largest segment by value. Epoxy coating is expected to remain the largest segment in the packaging coating by resin type.
Asia Pacific is expected to witness highest growth and will remain the largest market due to increase in consumption of packaged goods in China and India.
For market expansion, the report suggests innovation and new product development to reduce volatile organic compounds (VOC), to improve the recyclability of the packaging materials, and to maintain flavor neutrality. The report further suggests development of partnerships with customers to create win-win situations and the development of low-cost solutions for end users.
Emerging trends, which have a direct impact on the dynamics of the industry, include adoption of non-BPA (Bisphenol-A) coatings in metal packaging, edible coating in food packaging, and development of bio-based coatings in metal packaging. Valspar Corporation, PPG Industries, AkzoNobel NV, Altana AG, and W.R Grace & Company are some of the major suppliers of packaging coatings.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global packaging coating industry by substrate, formulation type, resin type, and region and has come up with a comprehensive research report, “Global Packaging Coating Industry 2015-2020: Trend, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides comprehensive data and an analysis on trends, key drivers, and directions. The study includes the forecast for the global packaging coating industry through 2020, segmented by substrate type, formulation type, resin type, and region as follows:
By substrate type [value ($ million) shipment from 2009 to 2020]:
By formulation type [value ($ million) shipment from 2009 to 2020]:
• Water-Based Coating
• Solvent-Based Coating
• Radiation-Cured Coating
• Powder Coating
By resin type [value ($ million) shipment from 2009 to 2020]:
By region [value ($ million) shipment from 2009 to 2020]:
• North America
• Asia Pacific
• Rest of World
This 124-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.