Packaging Coatings Industry is Booming Worldwide | Gaining Revolution In Eyes of Global Exposure

Rise in demand for flexible packaging coatings and the growth of the food & beverage industry drive the growth of the global packaging coatings market.

WILMINGTON, DE, UNITED STATES, December 13, 2024 /EINPresswire.com/ -- Allied Market Research has published a report titled, “Packaging Coatings Market by Application, Type, End-user, and Substrate: Global Opportunity Analysis and Industry Forecast, 2021–2030”. According to the report, the global packaging coatings market was valued at $3.2 billion in 2020 and is projected to reach $4.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/2030

Key Market Drivers and Opportunities

Growth Drivers:

- Increased demand for flexible packaging coatings.

- Expansion of the food and beverage industry.

Challenges:

- Stringent environmental regulations related to packaging safety.

Opportunities:

- Rapid growth of the global packaging industry creates new avenues for market expansion.

Segment Highlights

By Application:

- The food cans segment accounted for the largest market share in 2020, contributing to more than 25% of the global revenue. The segment's growth is fueled by the convenience and nutritional benefits of canned foods.

- The industrial packaging segment is forecasted to grow at the highest CAGR of 5.6% during the forecast period, driven by its critical role in supply chain operations.

By Type:

- The epoxy thermoset segment dominated in 2020, holding over 40% of the market share. Its popularity stems from superior thermal and mechanical properties and dimensional stability.

- The UV-curable segment is projected to witness the highest CAGR of 6.1% through 2030, owing to the advantages of high-intensity ultraviolet light in the curing process.

By Region:

Asia-Pacific emerged as the leading region in 2020, generating nearly 40% of global revenue, followed by Europe and North America. The region is also expected to grow at the fastest CAGR of 5.3%, driven by rapid urbanization and industrialization.

Leading Market Players

The competitive landscape of the packaging coatings market includes prominent players such as:

- Akzo Nobel N.V.

- Axalta Coating Systems

- BASF SE

- Eastman Chemical Company

- Kemira

- PPG Industries, Inc.

- Sun Coating Company

- The Lubrizol Corporation

- The Sherwin-Williams Company

- Wacker Chemie AG

Conclusion:

The global packaging coatings market is poised for steady growth, driven by rising demand in key sectors and advancements in coating technologies. Despite challenges posed by environmental regulations and the pandemic, opportunities in emerging economies and innovative applications are expected to fuel the market’s expansion.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/packaging-coatings-market/purchase-options

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X