London, 10 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the packaging coatings market in APAC 2015-2019, which is expected to grow at a CAGR of 4.85% during the forecast period of 2014-2019, in terms of revenue.
The rise in the consumption of beer in countries such as Singapore, Malaysia, Australia, Japan, China, India, Korea, and Thailand will increase the demand for can coatings products. Growing end-user markets and healthy economic conditions in the region are the favorable factors that boost the consumption of packaging coatings by the various end-user industries in the region.
“The emergence of direct gravure coater, reverse gravure coater, offset gravure coater, and smooth roll coater is much more effective and efficient in terms of performance and cost than other flexible packaging coatings technologies,” says Faisal Ghaus, Vice President of Technavio.
“Advancements in coatings technology benefits in cost savings, thus increasing the profit margins. Thus packaging coatings manufacturers are striving toward developing new technologies, for bringing in eco-friendly product innovations, cost savings, and end-user friendly products.”
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
- Akzo Nobel NV
- PPG Industries Inc.
- Valspar Corp.
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%…
