New York, NY, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Packaging Coating Additives Market by Function (Slip, Anti-Fog, Anti-Static, Antimicrobial, and Anti-Block), by Formulation (Powder-Based, Water-Based, and Solvent-Based), and by Application (Food, Healthcare, Industrial, and Consumer): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, the global packaging coating additives market was valued at USD 657millionin 2017 and is expected to reach USD 917millionby 2024, growing at a CAGR of 4.6% between 2018 and 2024.
The global market for packaging coating additives is likely to benefit from the growing packaging industry across the globe. The new developments in packaging materials and product designs are further projected to boost the demand for packaging coating additives market.
Browse through 88 Tables & 39 Figures spread over 110 Pages and in-depth TOC on “Global Packaging Coating Additives Market Size & Share 2017 Report: By Type, Industry Demand, Scope, Analysis and Forecast to 2024”.
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The increasing demand from the food industry for packaging coating additives is expected to drive the market growth of packaging coating additives globally. Strong growth witnessed across the food industry globally further likely to be the prime growth driver for packaging coating additives market. Environmental factors, such as recycling, health concerns, and air pollution, affect the technology of packaging coatings and additives. Higher raw material accessibility is further anticipated to propel the packaging coating additives market growth. The fluctuating prices of raw materials and increasing costs of production might hamper the growth of the packaging coating additives market within the forecast period. Manufacturing companies are focusing on making innovative products that are likely to open new growth avenues for the packaging coating additives market in the near future.
By function, the packaging coating additives market includes slip, anti-fog, anti-static, antimicrobial, and anti-block. Anti-block segment is anticipated to grow at the highest CAGR in the upcoming years. This segment helps in preventing the layers’ adhesion during processing or storage. Growing population, rising standards of living, and changing lifestyles favoring easy made packaged foods are the key drivers that are likely to fuel the demand for anti-block additives in the upcoming years. By formulation, water-based formulation held the largest market share in 2017. Water-based formulations offer more benefits as compared to conventional solvent-based inks, such as greater press stability, lower volatile organic compound content, lowered fire/safety hazards, improved wash-up time, and better heat resistance. The food application segment held the largest market share in 2017. It accounted for more than 27%market shares in 2017, as they have different mechanical properties, such as high durability and weathering resistance. Furthermore, increasing demand for packaging coating additives in industrial applications projected to propel the packaging coating additives market growth over the years to come.
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In 2017, Asia Pacific held the largest share for the packaging coating additives market and accounted for 33% of the overall market share. Region wise, China, Japan, India, and Indonesia are the major markets for packaging coating additives in the region. These countries have around 60% of the world’s population, causing the progression of the manufacturing and industrial sectors. This region’s growth is primarily attributed to the rising product demand in the packaged food sector. In addition, supportive government policies are expected to support the demand for packaging coating additives in the region.
In 2017, North America was the second largest market for packaging coating additives and held around 27% share of the packaging coating additives market. Moreover, the rising demand for packaging coating additives in healthcare and food sectors in the U.S. and Canada is anticipated to enhance the market earnings in the forecast time period. The growth of the packaging coating additives market can also be attributed to the increasing demand for consumer products in the region.
Browse the full "Packaging Coating Additives Market by Function (Slip, Anti-Fog, Anti-Static, Antimicrobial, and Anti-Block), by Formulation (Powder-Based, Water-Based, and Solvent-Based), and by Application (Food, Healthcare, Industrial, and Consumer): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/packaging-coating-additives-market
In 2017, Europe accounted for 27% share of the packaging coating additives market and is projected to witness sustainable growth in the forecast time period. Moreover, increasing industrial activities are witnessing an above-average growth rate, due to the growing use of packaging materials in the region. In Europe, stringent regulations due to environmental concerns are further expected to boost the overall demand for packaging coating additives market in the upcoming years.
In Latin America and the Middle East and Africa, packaging coating additives market is likely to experience decent growth in the upcoming years. The investments made by international companies in the packaging coating additives projects across these regions are projected to help the market gain traction in the next few years. Growing population and the improving lifestyle, along with rapid urbanization witnessed in Brazil and Colombia is likely to drive the demand for the packaging coating additives in the region.
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Some major players of the global packaging coating additives market include Croda International Plc, BASF SE, Clariant AG, Lonza Group, 3M Company, Arkema Group, Evonik Industries AG, and Solvay S.A. among others.
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This report segments the global packaging coating additives market as follows:
Global Packaging Coating Additives Market: Function Analysis
- Slip
- Anti-fog
- Anti-Static
- Antimicrobial
- Anti-block
Global Packaging Coating Additives Market: Formulation Analysis
- Powder-based
- Water-based
- Solvent-based
Global Packaging Coating Additives Market: Application Analysis
- Food
- Healthcare
- Industrial
- Consumer
Global Packaging Coating Additives Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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