According to IMARC Group's latest research report, titled "Packaging Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights into the market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global packaging coatings market size reached US$ 3.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.8% during 2023-2028.
Packaging Coatings Market Outlook:
Packaging coatings refer to numerous specialized chemical agents that are applied inside or on the surface of packaging products. They are usually used in several metals, plastic, and paper-based containers, closures, cans, industrial packaging products, etc. In addition to this, epoxy resins, acrylic resins, polyester, and polyurethane resins are some of the commonly available resins utilized for packaging coatings. They also aid in increasing the shelf-life of products and provide additional protection, corrosion resistance, aesthetic appeal, etc. Consequently, packaging coatings find extensive applications in various sectors, such as food and beverage (F&B), personal care, healthcare, etc., across the globe.
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Packaging Coatings Market Growth:
The expanding retail and e-commerce industries and the rising levels of industrialization are among the key factors stimulating the packaging coatings market. Moreover, the escalating demand for flexible packaging to store various consumer goods, including aerosol cans for personal care products, which use these agents to protect the contents, is acting as another significant growth-inducing factor. Besides this, the increasing usage of acrylic-based coatings is positively influencing the global market. Furthermore, they generally offer high transparency, durability, resistance to stains, blistering, heat, and cracking, etc., to products, which is propelling the market growth. Apart from this, the widespread adoption of canned food and beverages is also catalyzing the global market. Additionally, the growing consumer inclination towards attractive packaging solutions, continuous technological advancements, and extensive R&D activities by leading manufacturers to develop sustainable and more effective agents are anticipated to fuel the packaging coatings market over the forecasted period.
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