Flex Pack Coatings Market to Expand with Significant CAGR During 2027
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Flex Pack Coatings Market: Market Drivers
Flex pack coatings market growth is correlated with the demand for flexible packaging products. The flexible packaging industry is expected to grow at a CAGR of 3% over the forecasted period. Some of the factors for the growth of the flex pack coatings market is the need for storing products through longer shipping cycles and increasing the shelf life of the product. Moreover, the growing demand for lightweight and compact items along with increased preference of e-commerce for procuring goods is also influencing the flex pack coating market. However, food and pharmaceuticals are the most dominating sectors in the flex pack coatings market.
As the awareness for the environment protection is increasing, consumers now prefer to purchase products which are labeled environment-friendly. So the demand for the sustainable flex pack coatings market is expected to grow significantly. The low price to performance ratio has encouraged the packaging providers to adapt for flex pack coatings. Innovations such as use of bio-based solutions and nanotechnology may provide significant opportunities in the flex pack coatings market.
Flex Pack Coatings Market: Market Restraints
The rising concern amongst regulatory bodies across the globe regarding plastic waste caused by the extensive use of flex pack coatings, acts as a restraint for the flex pack coatings market. The inability of the flexible packaging to compete with the rigid packaging in terms of product protection from physical hazards can reduce its demand. Interaction of the flex pack coating material especially in the case of the reactive product can also be the factor for limiting the growth of the flex pack coatings market.
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Flex Pack Coatings Market: Market Segmentation
Flex pack coatings market can be segmented by packaging type, materials, and end-use industry.
Based on the by packaging type flex pack coatings market is segmented into:
Based on the material, flex pack coatings market is segmented into:
Based on the end use industry, flex pack coatings market is segmented into:
Food and Beverage
Personal Care & Cosmetics
Oil & Lubricants
Flex Pack Coatings Market Regional Outlook
Regionally Flex Pack Coatings market can be segmented as
Asia-Pacific, excluding Japan (APEJ)
Middle East & Africa (MEA)
The demand for the flex pack coatings is expected to grow at a steady rate in the period of 2016- 2024. North America is expected lead in term of demand for flex pack coating. In Latin America & APEJ flex pack coatings market is expected to grow due to increased consumer preference for lightweight products. There is a significant increase in the number of modern retail formats in Latin America and APEJ region. The growth for Flex pack coatings in Eastern and Western Europe is almost negligible. There would be a minor increase in the use of flex pack coatings in Japan due to increase in shipment values in Japanese region.
Some Key players of Flex Pack Coatings Market
Some of the key players of Flex pack coatings are FPS Pty Ltd, Innovative FlexPak LLC, Flex Film Ltd, LEIPA Georg Leinfelder GmbH, Balmer Lawrie & Co. Ltd, Uflex Ltd, Bemis Co. Inc., Sigma Plastics Group, Sealed Air Corp, Berry Plastics Corp., DuPont Co, Winpak Ltd, etc.
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