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Packaging Coatings Market Report by Substrate (Plastic, Metal, Paper, Glass, and Others), Resin (Epoxy, Acrylic, Polyurethane, Polyester, and Others), Formulation (Water-Based, Solvent-Based, Radiation-Cured, Powder-Based), Application (Beverages, Food Products, Caps and Closures, Monobloc and Tubes, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A1833
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Global Packaging Coatings Market:
The global packaging coatings market size reached US$ 3.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.1 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032. The rising demand for packaged food and beverages to ensure product safety is stimulating the market.
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Report Attribute
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Key Statistics
|
|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 3.7 Billion |
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Market Forecast in 2032
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US$ 5.1 Billion |
| Market Growth Rate 2024-2032 | 3.7% |
Packaging Coatings Market Analysis:
- Major Market Drivers: The growing focus on sustainable packaging solutions to reduce environmental impact is propelling the market.
- Key Market Trends: The increasing consumer preference for visually appealing packaging is raising the use of decorative and specialty coatings, acting as a significant growth-inducing factor.
- Competitive Landscape: Some of the major market companies include Akzo Nobel N.V., Arkema Group, Axalta Coating Systems LLC, BASF SE, Mantrose-Haeuser Co. Inc., PPG Industries Inc., Sun Coating Company, The Dow Chemical Company, The Valspar Corporation, and Wacker Chemie AG Ltd., among many others.
- Geographical Trends: Rapid industrialization, growing food and beverage sectors, and increasing demand for eco-friendly packaging solutions are augmenting the market in Asia Pacific.
- Challenges and Opportunities: The environmental concerns over harmful chemicals are hindering the market. However, developing more sustainable, eco-friendly coating alternatives will continue to strengthen the market over the forecasted period.
Packaging Coatings Market Trends:
Growing Demand for Eco-Friendly Packaging Solutions
Consumers and industries are increasingly prioritizing sustainable packaging to reduce environmental impact. In contrast, this shift is driving the development and adoption of coatings that are biodegradable, recyclable, and free from harmful chemicals, thereby aligning with global sustainability goals and the packaging coatings market dynamics. For instance, in July 2024, Smart Planet Technologies launched HyperBarrier, a ternary nanocomposite coating for paper-based flexible packaging. It offers improved oxygen and moisture barriers, enhanced recyclability, reduced plastic use, and cost efficiency. Thus, making it an eco-friendly alternative to traditional polyethylene coatings in food packaging.
Increasing Regulations for Safer Materials
Stricter regulations on the use of harmful substances in packaging materials are encouraging manufacturers to develop safer, compliant coatings. Moreover, these coatings must meet international food safety standards and environmental guidelines, thereby encouraging innovation in the creation of non-toxic, bisphenol-free, and PFAS-free coatings. For instance, in September 2024, AkzoNobel launched Accelshield 300, an FDA-approved internal coating for beverage cans. It is free from bisphenols, styrene, PFAS, and formaldehyde, offers advanced corrosion protection, and meets current and future EU regulations. Hence providing a safe, flexible, and high-performance solution for the packaging coatings industry outlook.
Advancements in Coating Technologies for Enhanced Performance
Continuous innovations in coating technologies are improving packaging functionality, such as better resistance to moisture, oxygen, and grease. Furthermore, these advancements are providing more durable, versatile solutions while also enhancing the aesthetic appeal of packaging, thereby contributing to improved product protection and longer shelf life. For instance, in March 2024, Archroma introduced Cartaseal OGB F10, a PFAS-free, recyclable barrier coating for oil and grease applications, with FDA and BfR approved. The water-based coating replaces fluoro-based substances and polyethylene, ensuring superior resistance and sustainability. Thus, supporting eco-friendly packaging for food and non-food contact.
Global Packaging Coatings Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with the packaging coatings market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on substrate, resin, formulation, and application.
Breakup by Substrate:
- Plastic
- Metal
- Paper
- Glass
- Others
Metal currently holds the largest packaging coatings market share
The report has provided a detailed breakup and analysis of the market based on the substrate. This includes plastic, metal, paper, glass, and others. According to the report, metal represented the largest market segmentation.
Metal is a widely used substrate for packaging coatings, offering durability and resistance to corrosion. On contrary, coatings like epoxy or polyester are applied to metal cans and containers, providing protection against moisture and chemicals, thereby ensuring product safety.
Breakup by Resin:
- Epoxy
- Acrylic
- Polyurethane
- Polyester
- Others
Epoxy currently holds the largest packaging coatings market demand
The report has provided a detailed breakup and analysis of the market based on the resin. This includes epoxy, acrylic, polyurethane, polyester, and others. According to the report, epoxy represented the largest market segmentation.
Epoxy resins are widely used in packaging coatings due to their excellent adhesion, chemical resistance, and durability. In addition, these resins are commonly applied in metal cans, such as for food and beverage containers, to prevent corrosion and maintain product integrity, thereby ensuring long shelf life.
Breakup by Formulation:
- Water-Based
- Solvent-Based
- Radiation-Cured
- Powder-Based
Water-based currently holds the largest packaging coatings market statistics
The report has provided a detailed breakup and analysis of the market based on the formulation. This includes water-based, solvent-based, radiation-cured, and power-based. According to the report, water-based represented the largest market segmentation.
Water-based packaging coatings are gaining popularity for their eco-friendly formulations, offering alternatives to solvent-based options. For example, Archroma's Cartaseal OGB F10 demonstrates high oil and grease resistance, recyclable capabilities, and is PFAS-free, thereby making them ideal for food and non-food packaging applications.
Breakup by Application:
- Beverages
- Food Products
- Caps and Closures
- Monobloc and Tubes
- Others
Food products currently hold the largest packaging coatings market revenue
The report has provided a detailed breakup and analysis of the market based on the application. This includes beverages, food products, caps and closures, monobloc and tubes, and others. According to the report, food products represented the largest market segmentation.
Packaging coatings for food products enhance durability and safety by providing moisture, oil, and grease resistance. For instance, AkzoNobel's Securshield 500 Series ensure eco-friendly, compliant solutions that maintain freshness, especially in cans and paper-based food packaging, reflecting significant packaging coatings market highlights.
Breakup by Region:
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- North America
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Others
- Middle East and Africa
- Turkey
- Saudi Arabia
- Iran
- United Arab Emirates
- Others
Asia Pacific currently dominates the packaging coatings market outlook
The packaging coatings market research report has also provided a comprehensive analysis of all the major regional markets, which include Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); North America (the United States and Canada); Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru and others); and the Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, and others). According to the report, Asia Pacific accounted for the largest market share.
As per the packaging coatings market insights, Asia Pacific leads the market due to rapid industrial growth, increased demand for packaged food, and a strong manufacturing base. In contrast, the region's focus on sustainable solutions, coupled with rising consumer awareness, drives innovation in eco-friendly coatings. For example, AkzoNobel’s launch of the Securshield series, highlight the region’s focus on innovative and eco-friendly coatings for food and beverage packaging, thereby strengthening its market dominance.
Competitive Landscape:
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market include:
- Akzo Nobel N.V.
- Arkema Group
- Axalta Coating Systems LLC
- BASF SE
- Mantrose-Haeuser Co. Inc.
- PPG Industries Inc.
- Sun Coating Company
- The Dow Chemical Company
- The Valspar Corporation
- Wacker Chemie AG Ltd.
(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
Packaging Coatings Market Recent Developments:
- September 2024: Solenis and HEIDELBERG collaborated to develop print-applied, eco-friendly barrier coatings for paper packaging. This innovation integrates Solenis' coatings into HEIDELBERG's flexographic printing process, improving production efficiency and sustainability.
- July 2024: AkzoNobel Packaging Coatings launched the Securshield 500 Series, a PVC-free and Bisphenol-free internal coating for food can ends that meets regulatory standards, enhances sustainability, and offering improved chemical resistance for various metal food packaging types.
- March 2024: DataLase launched laser-active clear-to-white coatings for packaging applications, as they offer high-contrast white prints, improved recyclability, and enhanced scuff resistance. Along with this, they work on substrates like PET and shrink film.
Packaging Coatings Industry Report Scope:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
|
| Substrates Covered | Plastic, Metal, Paper, Glass, Others |
| Resins Covered | Epoxy, Acrylic, Polyurethane, Polyester, Others |
| Formulations Covered | Water-Based, Solvent-Based, Radiation-Cured, Powder-Based |
| Applications Covered | Beverages, Food Products, Caps and Closures, Monobloc and Tubes, Others |
| Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Argentina, Colombia, Chile, Peru, Turkey, Saudi Arabia, Iran, United Arab Emirates |
| Companies Covered | Akzo Nobel N.V., Arkema Group, Axalta Coating Systems LLC, BASF SE, Mantrose-Haeuser Co. Inc., PPG Industries Inc., Sun Coating Company, The Dow Chemical Company, The Valspar Corporation, Wacker Chemie AG Ltd., etc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC's industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the packaging coatings market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the global packaging coatings market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the packaging coatings industry and its attractiveness.
- The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.
The global packaging coatings market was valued at US$ 3.7 Billion in 2023.
We expect the global packaging coatings market to exhibit a CAGR of 3.7% during 2024-2032.
The rising demand for packaging coatings across various industries, such as consumer goods, personal care, healthcare, etc., as they are chemical resistance, ensure the safety of the products, extend the shelf life of contents, etc., is primarily driving the global packaging coatings market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for packaging coatings.
Based on the substrate, the global packaging coatings market has been divided into plastic, metal, paper, glass, and others, where metal currently exhibits a clear dominance in the market.
Based on the resin, the global packaging coatings market can be categorized into epoxy, acrylic, polyurethane, polyester, and others. Currently, epoxy accounts for the majority of the global market share.
Based on the formulation, the global packaging coatings market has been segregated into water-based, solvent-based, radiation-cured, and powder-based. Among these, water-based currently exhibits a clear dominance in the market.
Based on the application, the global packaging coatings market can be bifurcated into beverages, food products, caps and closures, monobloc and tubes, and others. Currently, food products hold the largest market share.
On a regional level, the market has been classified into Europe, Asia Pacific, North America, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global packaging coatings market include Akzo Nobel N.V., Arkema Group, Axalta Coating Systems LLC, BASF SE, Mantrose-Haeuser Co. Inc., PPG Industries Inc., Sun Coating Company, The Dow Chemical Company, The Valspar Corporation, Wacker Chemie AG Ltd., etc.
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