As per a new report published by Fact.MR – a market research and competitive intelligence provider, the global packaging coating market is anticipated to exceed a valuation of US$ 3.1 Bn in 2021, and expand at an impressive CAGR of more than 6% over the forecast period of 2021 to 2031.
The market is in the growth phase of its lifecycle, having registered annual growth of 4.6% during 2016 – 2020. Fact.MR anticipates significant potential in the market, owing to factors such as increasing consumption of packaged food and growing demand for fancy packaging in several applications.
Use of coatings in the packaging industry has been the talk of the town. On a good notes, coatings have played a prominent role in ensuring packaging quality and preserving food flavour. However, in the past, the coating industry utilized synthetic coatings that tend to diffuse with the food causing long-term health problems, which has become a reason to worry.
For More Insights Into The Market, Request a Sample of this Report –https://www.factmr.com/connectus/sample?flag=S&rep_id=262
To deal with this pressing issue, over the past half-decade, manufacturers have invested billions of dollars on bio-based coatings that are human- as well as environmental-friendly.
However, bio-based coatings are expensive as compared to conventional coatings. To overcome this issue, regional governments are focussing on gradual banning of conventional non eco-friendly packaging coatings, bolstering the adoption of bio-based coatings.
Aside from the high coverage of food packaging coatings, demand for electronics packaging and semiconductor coating is also on the rise. It is anticipated that this will open new avenues for packaging manufacturers. Demand from this end-use industry is also driven by the advent of temperature-sensitive packaging coatings for high performance applications.
Key Takeaways from Market Study
- North America accounted for a major chunk of the market at over 27% market share.
- The U.S. is projected to create an incremental opportunity of over US$ 450 million during 2021-2031.
- Europe’s market for packaging coatings is likely to be the second-largest market during the forecast period.
- Fluoropolymer coatings are likely to be one of the highly preferred packaging coating types. Towards the end of 2031, fluropolymer coatings are estimated to reach close to US$ 690 million in revenue.
- Polyester coatings are also expected to experience robust demand growth during 2021-2031.
“Food packaging to provide strong demand growth for packaging coatings,” says a Fact.MR analyst.
Access Research Methodology Prepared By Experts – https://www.factmr.com/connectus/sample?flag=RM&rep_id=262
Market Segments Covered in Packaging Coatings Industry Analysis
By Coating Type
- Acrylic Packaging Coatings
- Epoxy Thermoset Packaging Coatings
- Fluoropolymer Packaging Coatings
- Plastisol Packaging Coatings
- Polyester Packaging Coatings
- Polyurethane Packaging Coatings
By Packaging Type
- Metal Can Packaging Coatings
- PET Bottles Packaging Coatings
- Glass Packaging Coatings
- Flexible Plastic Packaging Coatings
- Rigid Plastic Packaging Coatings
- Liquid Carton Packaging Coatings
- Food & Beverage Packaging Coatings
- Consumer Product Packaging Coatings
- Chemical Packaging Coatings
- Paint and Coating Packaging Coatings
- Industrial Product Packaging Coatings
- Semiconductor and Electronics Packaging Coatings
- Coil & Sheet Packaging Coatings
- Roll Packaging Coatings
- Spray Packaging Coatings
- Functional Packaging Coatings
For in-depth competitive analysis, Buy Now – https://www.factmr.com/checkout/262
Reasons to choose Fact.MR:
- Exhaustive research regarding the market to offer A to Z information.
- Digital technologies to provide innovative business solutions to the clients.
- 24/7 availability of services.
- Interaction with suppliers, vendors, and service providers for precise market landscape.
- Reports tailored as per the requirements of the clients.
For More Insight- https://www.einpresswire.com/article/557298123/demand-for-independent-front-suspension-is-estimated-to-remain-high-owing-to-the-system-of-better-handling-stability
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analysed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Visit Our Website: https://www.factmr.com