Dublin, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The "Paint Packaging Market By Material, By Product, By End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The global paint packaging market, valued at $20.6 billion in 2022, is poised for substantial growth, with a projected CAGR of 4.1% from 2023 to 2032.
Paints play a crucial role in protecting buildings and structures from environmental factors and harsh weather conditions, and flexible packaging is instrumental in preserving water-based paints, coatings, inks, and wood preservation varnishes while minimizing waste and environmental impact.
Factors Driving Market Growth
Several key factors are contributing to the growth of the paint packaging market:
- Protection Against Harsh Weather: The surge in the use of paint to shield exterior building surfaces from adverse weather conditions is driving demand.
- Variety of Exterior Paints: The availability of a wide spectrum of exterior paints is bolstering market growth.
- Advanced Packaging Properties: The need for packaging with advanced properties such as tear puncture resistance, reusability, and recyclability is boosting market demand.
- Growth in Construction: The building and construction sector's expansion is a significant driver, particularly due to rapid urbanization and rising living standards.
However, the market also faces challenges related to cost-effective high-quality product offerings.
Market Segmentation
The paint packaging market is segmented based on material, product, end-use industry, and region:
- Material: Metals, polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), and others.
- Product: Cans and pails, pouches, bottles, and others.
- End-Use Industry: Professional and consumer.
- Region: North America (U.S., Canada, Mexico), Europe (Germany, UK, France, Spain, Italy, rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, rest of LAMEA).
Key Players
Leading players in the global paint packaging market include Berry Global Inc., Dow, Mold-Tek Packaging Ltd., Smurfit Kappa, Hitech Group, BWAY Corporation, KARSHNI PACKS PRIVATE LIMITED, International Paper, Mondi, and WestRock Company.
Key Benefits for Stakeholders
- Quantitative analysis of market segments, trends, and dynamics from 2022 to 2032.
- Insights into key drivers, restraints, and opportunities.
- Porter's five forces analysis for strategic decision-making.
- In-depth analysis of market segmentation for identifying opportunities.
- Regional mapping of revenue contributions.
- Market player positioning for benchmarking.
- Analysis of global and regional trends, key players, market segments, application areas, and growth strategies.
Market Dynamics
Drivers
- Surge in Construction Activities
- Innovations in Packaging of Products
Restraints
- Fluctuations in Raw Materials Prices
Opportunities
- Concerns Regarding Environment Leading to Sustainable Packaging Solutions
For more information about this report visit https://www.researchandmarkets.com/r/gj757p
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