Covina, April 18, 2022 (GLOBE NEWSWIRE) — Every manufacturing process necessitates the use of packaging which drives the market of packaging coating. Packaging is receiving special attention from manufacturers and packers in order to ensure product safety, supply chain efficiency, sales promotion, and customer convenience. As a result, packaging coatings play an important role in refining the packing process in order to achieve the above-mentioned characteristics. Packaging coatings not only improve the package process by adding protection, corrosion resistance, and a variety of chemical properties, but they also improve the overall aesthetics of the packaging form. The worldwide packaging coatings industry is expected to profit from the rising application areas of packaging. The food and beverage sector, which is a prominent application area for the worldwide packaging coating market, is expected to grow as a result of changing lifestyles and eating habits. The rise in PET bottle usage and production is expected to be a major growth driver for the worldwide packaging coating industry.
Region Analysis:
Due to the rise in food packaging methods, particularly in the can segment, North America is expected to be the largest market for global packaging coatings. Due to rising demand for packaging coatings in the packaged food and consumer products industries in the area, Asia is expected to contribute considerably to the global packaging coatings market’s growth in the coming years. After Asia Pacific, Latin America is expected to be the largest consumer of packaging coatings. The market in Latin America is projected to be followed by the market in Europe. In the worldwide packaging coatings industry, the Middle East and Africa market is expected to grow slowly.
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Key Development:
Crown Beverage Packaging, a North American corporation, launched a new graphic studio for beverage cans in 2019. The goal of the project was to use visual graphics to attract customers.
In September 2017, Akzonobel bought Disa Technology, a French business. Together, the two companies created a global footprint by offering novel performance coatings.
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Segmentation:
Global Packaging Coating Market accounted for US$ 3331.9 million in 2020 and is estimated to be US$ 5141.37 million by 2030 and is anticipated to register a CAGR of 4.50%. The Global Packaging Coating Market is segmented by Type, Substrate, Application, End-User and Region.
By Type, the Global Packaging Coating Market is segmented into Epoxy Thermoset, Urethane, UV-Curable, BPA Free, and Soft Touch UV-Curable & Urethane.
By Substrate, the Global Packaging Coating Market is segmented into Metal, Rigid Plastic, Glass, Liquid Cartons, Paper-based …
