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.
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Key players:
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).
Segmentation
analysis:
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.
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Regional Analysis:
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.
Target
Audience:
- Traders and distributors of packaging coating
additives
- Packaging coating additives manufacturers
- Potential investors
- Production process industries
- Raw material suppliers
- Nationalized laboratories
- Government bodies
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