Global Paints Packaging Market 2019-2023
About this market
Rising demand for customization to drive growth in the market. The increasing competition in the market and the strong presence of established vendors in the market are encouraging the vendors to customize their products. Technavio’s analysts have predicted that the paints packaging market will register a CAGR of close to 5% by 2023.
Rising demand for metal cans
The reusability of metal cans compared with plastic products is the major advantage of metal cans. Moreover, the strict regulations on plastic packaging in many countries have increased the demand for metal cans in paints packaging.
High market competition
The global paints packaging market experiences intense competition, which is a major challenge for many small players in the market.
For the detailed list of factors that will drive and challenge the growth of the paints packaging market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Amcor and Berry Global the competitive environment is quite intense. Factors such as the rising demand for customization and the rising demand for metal cans, will provide considerable growth opportunities to paints packaging manufactures. Amcor, Berry Global, Mondi, RPC, and Silgan are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Paints Packaging Market 2019-2023
Technavio recognizes the following companies as the key players in the global paints packaging market: Amcor, Berry Global, Mondi, RPC, and Silgan.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the rising demand for customization.”
According to the report, one of the major drivers for this market is the rising demand for metal cans.
Further, the report states that one of the major factors hindering the growth of this market is the high market competition.