Press release
Packaging Coatings Market Size Expansion to Drive Significant Revenues in the Future
Packaging Coatings Market
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Key Highlights:
The global Packaging Coatings industry generated $3.2 billion in 2020, with an anticipated increase to $4.9 billion by 2030, at a CAGR of 4.7% from 2021 to 2030.
The rise in demand for flexible packaging coatings and the growth of the food & beverage industry are major drivers.
Stringent environmental regulations and disruptions in the supply chain due to the COVID-19 pandemic have hindered market growth.
The food cans segment, accounting for over one-fourth of the market, is expected to maintain its leadership status.
The epoxy thermoset segment, contributing more than two-fifths of the market, is projected to maintain its lead position.
Asia-Pacific, Europe, and North America are key regions, with Asia-Pacific expected to witness the fastest CAGR during the forecast period.
Key market players include Akzo Nobel N.V., Axalta Coating Systems, BASF SE, Eastman Chemical Company, Kemira, PPG Industries, Inc., Sun Coating Company, The Lubrizol Corporation, The Sherwin-Williams Company, and Wacker Chemie AG.
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