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Packaging Coatings Market Trends

  • Report ID: GMI11374
  • Published Date: Sep 2024
  • Report Format: PDF

Packaging Coatings Market Trends

The market is increasingly focusing on sustainability and eco-friendliness. Companies are developing and adopting coatings derived from renewable resources and biodegradable materials to meet growing environmental regulations and consumer preferences. Innovations, such as bio-based coatings that replace conventional petrochemical-based options, are becoming more prevalent. These advancements not only enhance the environmental footprint of packaging but also address the global push toward reducing plastic waste and improving recyclability.
 

Another notable trend is the integration of advanced functionalities into packaging coatings. Modern coatings are being engineered to provide enhanced barrier properties, such as resistance to oxygen, moisture, and fats, improving the shelf life and safety of packaged goods. Additionally, there is a growing emphasis on coatings that offer better printability and aesthetic appeal, helping brands to differentiate their products and engage the consumers more effectively.
 

For instance, in June 2024, Mondi and traceless entered a partnership to develop a bio-circular packaging coating derived from agricultural byproducts. The new coating, which boasts resistance to oxygen, water, and fat aims to replace traditional plastic coatings and significantly reduce greenhouse gas emissions. Industrial-scale production of this new coating is expected to commence soon.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Packaging coatings industry size was worth USD 4,865.2 million in 2023 and will grow at a 5% CAGR between 2024 and 2032 due to the growing demand for sustainable and eco-friendly packaging solutions.

The water-based segment will achieve USD 3 billion by 2032, driven by its environmental benefits and growing demand for sustainable solutions.

North America industry captured 25% share in 2023, attributed to its advanced manufacturing infrastructure and high demand for innovative packaging solutions.

Prominent players operating in the industry are Akzo Nobel N.V., Axalta Coating Systems, BASF SE, PPG Industries, Inc., Saudi Basic Industries Corporation (SABIC), Sherwin-Williams Company, and The Dow Chemical Company, among others.

Packaging Coatings Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 24
  • Tables & Figures: 350
  • Countries covered: 21
  • Pages: 230
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