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July 28, 2020, 6:44 a.m. EDT

Packaging Coatings Market 2020 Size, Demand, Rising Impact of COVID-19, Competitive Insights- Axalta Coating Systems, Akzo Nobel NV, ALUMAX INDUSTRIAL CO. LTD, ALLNEX NETHERLANDS BV, Arkema Group

Jul 28, 2020 (Market Insight Reports) -- The report presents an in-depth assessment of the Global Packaging Coatings including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles, and strategies. The report also presents forecasts for Global Packaging Coatings investments from 2020 till 2025.

The market for packaging coatings is expected to expand at a CAGR of more than 5% during the forecast period. The major factor driving the market studied is the growing coatings usage in developing markets. On the flip side, increasing regulations are expected to hinder the growth of the market studied.

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Top Leading Manufactures-

Axalta Coating Systems, Akzo Nobel NV, ALUMAX INDUSTRIAL CO. LTD, ALLNEX NETHERLANDS BV, Arkema Group, Asian paints, BASF SE, Berger Paints India Limited, CAROLYN, Chemetall, Chugoku Marine Paints Ltd, Diamond Vogel, DowDuPont, Evonik Industries AG, HEMPEL A/S, Henkel AG & Co. KGaA, Jotun, Kansai Paint Co. Ltd, Masco Corporation, NIPPON PAINT Co. Ltd, PPG Industries Inc., RPM International Inc., SACAL INTERNATIONAL GROUP LTD, The Sherwin-Williams Company, Sika AG, Solvay, Wacker Chemie AG, Yip’s Chemical Holdings Limited

Market Overview
– Swiftly shifting the market to eco-friendly coatings is likely to act as an opportunity in the future.
– Asia-Pacific dominated the market across the world with the largest consumption from countries, such as China, India, and Japan.

Key Market Trends

Increasing Demand for Acrylics

– Acrylic resins are segmented into thermoplastic and thermosetting plastic substances. They are produced from acrylic acid, methacrylic acid, or other acryl-based acids.
– Acrylic resins possess characteristics like excellent transparency and durability and are used in coatings. Due to its features like durability and weatherability as coating materials, these resins are used extensively in packaging applications such as beverage cans, food cans, etc.
– Additionally, they are also resistant to stains, blistering, and cracking. These unique characteristics make acrylic resins a noble choice as a coating material.
– The growing demand for coatings for high-speed packaging lines is enhancing the use of solid acrylics. Solid acrylic resins in packaging coating applications offer properties such as wet & dry adhesion, early water resistance, corrosion & chemical resistance, hardness, good inter-coat adhesion, and excellent exterior durability. These properties make acrylic resin a perfect suitable coating for applications like beverage cans, solid cans, etc.
– The packaging industry plays a crucial role, adding value to various FMCG products such as beverage and food cans, caps & aerosols, etc. The prime reason for the growth of this market is increasing the food & beverage industry. Acrylics in packaging coatings are used heavily for packaging FMCG products owing to its innovative & visual appeal for customer attraction and convenience. The growth in lifestyle and consumption patterns has increased the demand for packaged products resulting in the growing packaging industry.
– Acrylic resin coatings are now leading the market of paints and coatings industry. They are known for their properties of color retention and inertness to environmental conditions.
– Presently, the industries are shifting to the waterborne acrylic resins from solvent-based acrylic resins, owing to the growing environmental concerns and governmental regulations.
– Such positive growth for acrylics is likely to increase the demand for packaging coatings market during the forecast period.

China to Dominate the Asia-Pacific Region

– China has the biggest manufacturing sector in the world and the largest consumer base. Being the most populated country, China makes it the largest consumer of various goods. Owing to various reasons, the packaging coatings market is one of the fastest-growing markets in the Chinese economy.
– The applications of coatings on various products have grown significantly in recent times. The increasing need for decorative and attractive packaging has led to an increase in the demand for coatings for packaging.
– China has the largest share in the e-commerce market. Sales in China account for more than 30% of the total e-commerce sales. China is one of the fastest-growing e-commerce markets in the world, and it is home to the e-commerce giant, Alibaba.
– The growth in the e-commerce market has led to a huge increase in demand for the packaging industry, and consequently the packaging coatings industry. The food and beverage packaging is the fastest-growing sector among them.
– In China, the recent rise in awareness regarding environment and pollution has led to the formation of regulations regarding harmful chemicals (such as VOCs).
– Such factors can adversely affect the market for packaging coatings. These factors have also been a blessing in disguise, as companies have quickly adapted to various eco-friendly alternatives.
– The aforementioned factors are contributing to the increasing demand for packaging coatings consumption in the country, during the forecast period.

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What are the market factors that are explained in the report?

- Key Strategic Developments : The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

- Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

- Analytical Tools: Global Packaging Coatings Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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