Packaging Coating Additives Market Overview to 2023:
Packaging coating materials are used to package foods, consumer goods, medical equipment, and industrial products. These packaging materials are prone to friction and possess less chemical stability. Additives are added to improve its performance, anti-microbial properties, water-repellency, pH stability, and provides less friction surface.
Increasing purchasing power of the middle-class population is expected to be the major driver of the Global Packaging Coating Additives Market. Growing consumption of packaged products is anticipated to favor the Packaging Coating Additives Market growth. Furthermore, rising health awareness among the growing population is anticipated to boost the market growth. Emerging markets in developing countries is expected to provide strong growth opportunities to the market players. In addition to this, rising demand for bio-based slip additives is likely to provide ample opportunities to the market players. Packaging leads to plastic waste which poses a major challenge to the market players.
However, stringent government and environmental regulations are expected to hamper the market growth. In addition to this, fluctuating raw material prices is anticipated to further restrain the market.
Some of the key players operating in the Global Packaging Coating Additives Market are Croda International PLC (UK), BASF SE (Germany), Clariant (Switzerland), 3M (US), Lonza Group (Switzerland), Arkema Group (France), Solvay (Belgium), Evonik Industries AG (Germany), Daikin Industries, Ltd. (Japan), Akzo Nobel N.V. (The Netherlands), and KAO Corporation (Japan).
The Global Packaging Coating Additives Market has been segmented on the basis of Function, Formulation, Application and Region.
Based on Function, the Global Packaging Coating Additives Market has been categorized into slip, anti-static, anti-fog, anti-block, and antimicrobial.
By Formulation, the Global Packaging Coating Additives Market has been classified into water-based, solvent-based, and powder-based.
On the basis of Application, the Global Packaging Coating Additives Market has been divided into food packaging, industrial packaging, healthcare packaging, consumer packaging, and others.
The Global Packaging Coating Additives Market has been studied across five key regions namely, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Global Packaging Coating Additives Market has been segmented into five key regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia-Pacific market dominated the Packaging Coating Additives Market in 2017 and is estimated to register the highest CAGR during the forecast period. This is attributed to growing demand from packaging application. Factors such as easy availability of raw materials, changing lifestyles, and rapid industrialization is favoring the market growth in the region. China is the leading country in the region followed by Japan, India, and Indonesia. The North American market accounted for the second-largest market share in 2017 due to rising health awareness for food packaging application and growing technological advancements in the region. The US is the major contributor in the region due to rising focus on bio-based slip additives. The European market held a significant market share in 2017 and is expected to grow at a moderate CAGR during the review period owing to the stringent government regulations on ban of plastic products for packaging. Germany is the leading country in the region due to its product innovation and presence of major manufacturing companies such as BASF SE and Evonik Industries AG in the region. The Middle East & Africa held a moderate market share in 2017 owing to favorable government rules in the region. South Africa is the major contributor in the region. The Latin American market is estimated to grow at a steady CAGR in the coming years owing to the growing packaging applications in consumer goods. Brazil, Mexico, and Argentina are the regional contributors.
Traders and distributors of packaging coating additives
Packaging coating additives manufacturers
Production process industries
Raw material suppliers
Impact of COVID-19 on Recycled Polyethylene Terephthalate Market @ https://www.marketresearchfuture.com/report/covid-19-impact-recycled-polyethylene-terephthalate-market
Impact of COVID-19 on Automotive Coolant Market @ https://www.marketresearchfuture.com/report/covid-19-impact-automotive-coolant-market