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Increasing Demand for Epoxy Thermoset Coatings providing high growth opportunities to the overall Packaging Coatings Market.

HYDERABAD, TELANGANA, INDIA, November 28, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Packaging Coatings Market size is forecast to reach $4.0 billion by 2026, after growing at a CAGR of 4.6% during 2021-2026 due to rise in the consumption of plastic bottles and containers. International Bottled Water Association (IBWA), Americans consumed 13.8 billion gallons of bottled water in 2018. The packaging coatings give protection and prevent oxygen, light, and moisture to the end product. Growing food & beverages packaging, personal care and cosmetics industry are the major driving factor to increasing the demand for packaging products. Epoxy thermoset, urethane, acrylic, and polyester are the most common type which is available for packaging coatings. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Packaging-Coatings-Market-Research-501486

Key takeaways:

This IndustryARC report on the Packaging Coatings Market highlights the following areas -

1. Asia-Pacific dominates the packaging coatings market owing to increasing demand from an application such as food & beverages, marine, architectural, packaging, and healthcare industries.

2. According to the India Brand Equity Foundation (IBEF), the demand for plastic bottles continues to expand in India.

3. The growing popularity of new plastic technologies to develop recyclable and sustainable solutions that include specific properties such as light puncture, moisture, and chemical resistance, is likely to aid in the market growth of the packaging coatings market.

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Segmental Analysis:

1. Epoxy thermoset segment held the largest share in the packaging coatings market in 2020 as they provide a high level of protection against abrasion, turbulence, and extreme temperatures. Epoxy thermoset exhibit high strength and low shrinkage during curing, are known for their toughness and resistance to both chemical and environmental damage.

2. Asia Pacific dominated the largest share of the packaging coatings market in 2020 with 30% due to the increasing demand for packed food and beverages in the region and construction activities developing countries such as China and India are projected to make this region an ideal destination for the packaging coatings market.

3. Liquid formulation is the most lucrative segment in the packaging coating market in 2020 owing to the increasing demand for liquid coatings in metal cans, and PET bottles. The liquid coating has superior benefits such as lower VOCs, extremely stable, and improved heat resistance.

4. Food & beverage packaging application segment dominated largest share for the packaging coatings market in 2020 and is growing a CAGR of 4.8% during 2021-2026 due to growing changes in lifestyle and consumption for packed food, water cans, cold drinks, and beverage cans, which is expected to a growing packaging coating market.

Competitive Landscape:

The top 5 players in the Packaging Coatings Industry are -

1. Akzo Nobel N. V.,
2. ARKEMA GROUP,
3. Axalta Coating System LLC,
4. BASF SE,
5. Montrose- Haeuser, Co. Inc.,

Click on the following link to buy the Packaging Coatings Market Report:
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Related Reports:

A. Europe Wood Coatings Market
https://www.industryarc.com/Report/18220/europe-wood-coatings-market.html

B. Argentina Architectural Coatings Market
https://www.industryarc.com/Report/18819/argentina-architectural-coatings-market

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