Packaging Coating Additives Market by Function (Slip, Anti-Static, Anti-fog, Anti-block, Antimicrobial), Formulation (Water-based, Solvent-based, Powder-based), Application (Food, Industrial, Healthcare, Consumer), and Region - Global forecast to 2023
“The packaging coating additives market is projected to grow at a CAGR of 4.9% from 2018 to 2023.”
The packaging coating additives market is projected to grow from USD 688.4 million in 2018 to USD 874.5 million by 2023, at a CAGR of 4.9% from 2018 to 2023. The packaging coating additives market is expected to witness growth owing to the increasing demand from packaging applications such as food packaging, consumer packaging, and industrial packaging. Rising competition and increasing concerns regarding environmental safety are encouraging manufacturers to develop packaging which is cost-effective, requires fewer resources, and provides better protection. However, stringent government regulations regarding the use of plastics are expected to hamper the growth of the packaging coating additives market. Volatility in raw material prices might adversely affect the overall cost of production incurred by the packaging coating additives manufacturers.
“The food packaging segment is expected to hold the largest share of the packaging coating additives market during the forecast period.”
The food packaging application segment accounted for the largest share of the packaging coating additives market in 2017. It is also estimated to be the fastest-growing market during the forecast period 2018-2023. Significant rise in the income of the middle-class population of economies such as China and India resulting in an improvement in the living standards, and increased demand for packaged food is resulting in the growth of the food packaging application.
“Asia Pacific packaging coating additives market is estimated to grow at the highest CAGR during the forecast period.”
The Asia Pacific packaging coating additives market has been studied for China, Japan, India, Indonesia, and the Rest of Asia Pacific. The Asia Pacific region is an emerging and lucrative market for packaging coating additives owing to the increasing demand for food packaging and improving economic conditions. Product innovations, new research and development projects, and increasing demand from consumer and industrial application have also fueled the demand for metal packaging coating additives in Asia Pacific.
Profile break-up of primary participants for the report:
By Company Type: Tier 1 - 35 %, Tier 2 - 41%, Tier 3 - 24%
By Designation: C level - 56%, Director level - 28%, Others - 16%
By Region: Asia Pacific - 33%, North America - 27%, Europe - 20%, Middle East & Africa - 13%, South America - 7%
As a part of qualitative analysis, the research provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by market players, such as Croda International Plc (UK), BASF SE (Germany), Clariant AG (Switzerland), Lonza Group (Switzerland), 3M Company (US), Arkema Group (France), Evonik Industries AG (Germany), and Solvay S.A. (Belgium), among others.
The report defines, segments, and projects the packaging coating additives market based on function, formulation, application, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers and opportunities. It also strategically profiles key players and comprehensively analyzes their market shares and core competencies. The report analyzes competitive developments, such as new product developments, expansions, and acquisitions undertaken by key players to achieve growth in the market.
Reasons to Buy the Report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of revenue numbers for the overall packaging coating additive market and its subsegments. This report will help stakeholders better understand the competitive landscape and gain insights to better position their businesses and make suitable go-to-market strategies. It will also help stakeholders understand the pulse of the market and provide information on key market drivers, restraints, and opportunities.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook