Rockville, WA -- (SBWire) -- 07/26/2018 --Packaging coating is characterized as a medium to give utilitarian and also stylish interest to different products identified with shopper merchandise, individual care, medicinal services, synthetics, food and beverages, and other such businesses. These grant extra highlights by giving substance opposition, erosion insurance, alluring appearance, assurance against different ecological elements, and the sky is the limit from there. The coatings are connected to different materials that are utilized amid packaging running from paper to jars. Likewise, the broad uses of packaging coatings relies on the sort of gum and added substances utilized as a part of these materials. The previously mentioned characteristics make packaging coatings vital for all producers as it guarantees wellbeing, advancement, ease in supply, and comfort and customization for consumers.
Increment in use in different enterprises, for example, food and beverage jars, vaporizers, and others drive the market. Moreover, interest for adaptable packaging coatings, quick development of the food and refreshment industry, and ascend in incline for E-commerce likewise fuel the market.
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According to a recent report published by Fact.MR, the global packaging coating market is expected to represent a value of over US$ 4,000 Mn by the end of 2022. The market is expected to rise at a 5.5% CAGR over the forecast period of 2017 to 2025.
Flexible Plastic Segment to Emerge Dominant Among Packaging Types
With the surge in need for protective packaging in the construction and electronic industry increases, manufacturers are increasingly inclined toward the use of acrylic packaging coating. Acrylic coating as compared to other coatings is expected to witness the highest revenue growth, representing over US$ 400 Mn by the end of 2022. However, fluoropolymer coating is expected to register the highest CAGR in the global market throughout 2022.
On the basis of packaging type, the flexible plastic segment is expected to witness the highest revenue growth, followed by the metal can segment. The flexible plastic segment is expected to represent a value of over US$ 200 Mn by the end of 2017. However, the liquid carton segment is expected to register the highest CAGR in the global packaging coating market.
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Food and beverages segment as compared to other end users is expected to witness the highest revenue growth, representing a value of over US$ 400 Mn by 2022. The industrial product segment is expected to register the highest CAGR growth in the global market through 2022.
Coil & Sheet Coating is expected to witness the highest revenue growth as compared to other coating technology, accounting for a value of US$ 700 Mn by the end of 2017. However, spray coating and roll coating is expected to register the highest CAGR in the global packaging coating market through 2022.
Multitude of Applications Impel Growth of Packaging Coating Market
The developing scope of packaging in different products, particularly in consumer goods and the food and beverages sector, is assessed to additionally drive development of the internationally packaging coatings market in the coming years. The expanding requirement for keeping up unique quality and taste rising awareness to avoid pollution are pushing manufacturers to utilize packaging coatings, particularly in the food and beverages market.
In any case, stringent government controls and hurtful VOC discharges amid the generation procedure are a few factors that could hamper the market development and direct organizations to search for substitution. Development sought after from rising economies, for example, China and India and constant progressions in packaging industry combined with continuous R&D exercises to create maintainable and more successful packaging coatings speak to lucrative open doors for the market growth.
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Global Packaging Coating Market to Expand at 5.5% CAGR, Aided by Demand from Consumer Goods, F&B Industry
Construction industry continues to witness considerable demand for packaging coating in order to protect aluminium coils and steel materials used during construction. Moreover, electronic appliances and roof coatings witness considerable demand in the construction industry.