According to IMARC Group's latest research report, titled "Packaging Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights into the packaging coatings market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global packaging coatings market size reached US$ 3.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.8% during 2023-2028.
Packaging Coatings Market Overview:
Packaging coatings involve a wide range of materials that are applied to the surfaces of various packaging materials to improve their functional and aesthetic properties. These coatings provide a variety of functions, such as safeguarding the packed goods, extending their shelf life, boosting their aesthetic appeal, and offering consumers the information they require. There are numerous varieties of packaging coatings, including films, laminates, lacquers, varnishes, and inks, each of which is created to meet a particular packaging need. Additionally, they function as an impermeable barrier to keep dangerous germs or microbes out while preserving the nutritional content, flavour, and freshness of food and drinks. These coatings serve as a barrier against elements that can damage the product's quality or shorten its shelf life, such as moisture, oxygen, light, and other irritants.
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Packaging Coatings Market Growth:
Significant growth in the retail and e-commerce industries majorly drives the global market. This can be attributed to the rising utilization of flexible packaging solutions to store a wide range of consumer goods, including aerosol cans for personal care products. Thus, the requirement of protective coatings to ensure the integrity of their contents is significantly supporting the market. Along with this, the growing popularity of acrylic-based coatings due to their exceptional properties, such as high transparency, durability, and resistance to stains, blistering, heat, and cracking, is positively influencing the market. Therefore, various consumer goods manufacturers are adopting acrylic variants to improve the performance and aesthetics of their products, which is acting as another growth-inducing factor. Furthermore, the development of sustainable and more effective packaging coatings to address environmental concerns is creating a positive market outlook.
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