According to a new report, published by KBV research, The Global Packaging Coatings Market size is expected to reach $5.7 billion by 2031, rising at a market growth of 4.5% CAGR during the forecast period. In the year 2023, the market attained a volume of 1,534.1 kilo tonnes experiencing a growth of 21.0% (2020-2023).
Packaging coatings play a pivotal role in safeguarding products, enhancing aesthetics, and prolonging shelf life across diverse industries. The adoption of packaging coatings has witnessed a steady rise in recent years, propelled by a confluence of factors, including evolving consumer preferences, stringent regulatory standards, and advancements in coating technologies. Across various industries such as food and beverage, pharmaceuticals, cosmetics, and automotive, the demand for packaging coatings remains robust, driven by the need for protective, functional, and visually appealing packaging solutions.
The Flexible Packaging is registering a CAGR of 4.1 % during the forecast period. The growing emphasis on sustainability and environmental responsibility has propelled the adoption of flexible packaging as an eco-friendlier alternative to traditional rigid packaging formats such as glass, metal, and paperboard.
The Food & Beverages segment led the Global Packaging Coatings Market by End-use in 2023; thereby, achieving a market value of $1.6 billion by 2031. The demand for packaging coatings in the food and beverage sector has experienced steady expansion, driven by the need for protective, functional, and aesthetically appealing packaging solutions that ensure product safety, quality, and shelf appeal.
The Epoxies segment is growing at a CAGR of 3.6 % during the forecast period. Epoxies are renowned for their excellent adhesion to various substrates, including metal, plastic, and composite materials. They provide a protective barrier shielding packaged goods from environmental hazards, mechanical stress, and chemical exposure.
Full Report: https://www.kbvresearch.com/packaging-coatings-market/
The Asia Pacific region dominated the Global Packaging Coatings Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2.2 billion by 2031. The North America region is anticipated to grow at a CAGR of 4.1% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 4.3% during (2024 - 2031).
By Packaging Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By End-use (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Resins (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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