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Packaging Coatings industry Size
WILMINGTON, DE, UNITED STATES, September 25, 2024 /EINPresswire / -- A recent report published by Allied
market Research titled“Packaging Coatings Market by Application, Type, End-user, and Substrate: Global Opportunity Analysis and Industry Forecast, 2021–2030” reveals that the global packaging coatings industry, which was valued at $3.2 billion in 2020, is expected to reach $4.9 billion by 2030, registering a CAGR of 4.7% from 2021 to 2030.
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Key Drivers and Opportunities:
- Growth Factors: The increasing demand for flexible packaging coatings and expansion of the food & beverage industry are key factors propelling market growth.
- Challenges: Strict environmental regulations related to packaging safety present challenges for the market.
- Opportunities: The rapid growth of the packaging industry offers significant opportunities for future development.
Segment Insights:
- Application: The food cans segment accounted for the largest market share in 2020, with more than one-fourth of the total revenue. Canned foods' popularity as a convenient, nutrient-dense option drives this segment. The industrial packaging segment, however, is expected to grow at the highest CAGR of 5.6% during the forecast period.
- Type: The epoxy thermoset segment led the market in 2020, contributing over 40% of the total share, due to its superior thermal and mechanical properties. The UV-curable segment is anticipated to grow at the fastest CAGR of 6.1% due to its usage of high-intensity UV light for curing.
Regional Highlights:
Asia-Pacific (followed by Europe and North America) held the largest share in 2020, accounting for almost 40% of global revenue. The region is also expected to witness the highest CAGR of 5.3% due to rapid urbanization and industrialization.
Leading Companies:
Key players in the packaging coatings market include:
- 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
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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
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.