Packaging Inks and Coatings Global Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Packaging Inks and Coatings Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The packaging inks and coatings market size has grown strongly in recent years. It will grow from $4.68 billion in 2023 to $4.98 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to development of new printing technologies and coating formulations, evolving environmental and safety regulations, growing awareness and demand for sustainable and eco-friendly packaging solutions, increasing global movement of goods.

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Market Drivers and Trends:

The growing popularity of e-commerce is expected to propel the growth of the packaging ink and coatings market going forward. E-commerce refers to the buying and selling of goods and services over the Internet, encompassing online retail platforms, digital payment systems, and electronic transactions. Packaging inks and coatings in e-commerce are primarily used to ensure product protection, brand visibility, and consumer satisfaction through durable and visually appealing packaging solutions. For instance, in November 2023, according to the US Census Bureau, a US-based Department of Commerce, US retail e-commerce sales reached approximately $271.7 billion in the third quarter of 2023, showing a 0.9% growth from the previous quarter. Further, E-commerce sales accounted for 14.9% of total sales in the third quarter of 2023. Therefore, the growing popularity of e-commerce is driving the growth of the packaging ink and coatings market.

Major companies operating in the packaging ink and coatings market are increasing its focus on introducing solvent-based ink to gain a competitive edge in the market. The solvent-based ink is a printing ink formulation that uses organic solvents as the liquid carrier or vehicle. For instance, in September 2021, Flint Group US LLC, a US-based manufacturer of conventional and UV printing inks, launched its ONECode solvent-based ink and coating range for flexible packaging in Europe. As part of this range, the company introduced ONECode Universal Bases, which are designed to provide the ultimate print flexibility and efficiency in the gravure print process. By simplifying the flexible packaging printing process, improving print quality, and reducing ink consumption and waste, the ONECode range aims to make the printing process more efficient.

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Major Key Players of the Market:

Fujifilm Corporation, PPG Industries Inc., Arkema S.A, Axalta Coatings Systems, Sun Chemical, ALTANA AG, Flint Group, Sakata INX Corporation, Siegwerk Druckfarben AG & Co. KGaA, Dainichiseika Color & Chemicals Mfg. Co. Ltd., Toyo Ink SC Holdings Co. Ltd., Huber Group, Colorcon, T&K TOKA Corporation, Tokyo Printing Ink Mfg. Co. Ltd., Zeller+Gmelin GmbH & Co. KG, Nazdar Company, Wikoff Color Corporation, INX International Ink Co., Marabu GmbH & Co. KG, Epple Druckfarben AG, Doneck Euroflex S.A., Paragon Inks, Van Son Holland Ink Corporation, Pulse Roll Label Products Ltd., BCM Inks, RUCO Druckfarben

Packaging Inks and Coatings Market 2024 Key Insights:

• The packaging inks and coatings market is expected to grow to $6.28 billion in 2028 at a compound annual growth rate (CAGR) of 6%.
• E-commerce In Driving Growth In The Packaging Ink And Coating Market
• Increasing Emphasis On Solvent-Based Inks In The Packaging Industry
• North America was the largest region in the packaging inks and coatings market in 2023

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