London, 13 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global packaging coatings market 2015-2019, which is expected to grow at a CAGR of 4.20% during the forecast period of 2014-2019.
Rapid growth in the global packaging industry is expected to boost the prospects of growth in the packaging coatings market. Factors such as increasing demand from the end-user segment, growing demand for solvent-free coatings, and the introduction of recyclable coatings are the major factors that fuel the rapid adoption of packaging coatings.
“The increase in consumer preference for eco-friendly products is an important trend being witnessed in the global packaging coatings market. The manufacturers of packaging coatings, which include beverage packaging and food packaging, and are developing new and eco-friendly coatings to comply with regulations and to meet the increasing demand for sustainable products that do not harm the ecosystem,” says Faisal Ghaus, Vice President of Technavio.
“The VTT technical research center has developed technology for recyclable and eco-friendly packaging coatings solutions. These coatings help in the manufacture of thin, lightweight, fully recyclable, and airtight packaging materials. They use the atomic layer deposition (ALD) method, which is helpful in food and pharmaceutical packaging.”
Key Market Drivers:
- Growth of Packaging Industry.
- Growing Demand for Solvent-free Coatings.
- Growing Demand from End-user Markets.
Key Market Trends:
- Recyclable Coatings.
- Emergence of New Coating Technologies.
- Demand for Plastic Packaging Products.
Key Market Vendors:
- AkzoNobel NV
- PPG Industries Inc.
- Valspar
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
