Packaging Coatings Market Analysis APAC - Size and Forecast 2024-2028

APAC Packaging Coatings Market Size 2024-2028

The APAC packaging coatings market size is forecast to increase by USD 452.6 million at a CAGR of 4.66% between 2023 and 2028.

• The market is witnessing significant growth due to the increasing demand for protective coatings in various end-use industries. Rigid plastic packaging, metal cans, and aluminum are key areas where protective coatings are extensively used. The trend towards eco-friendly coatings is gaining momentum, with antimicrobial coatings and nanocoatings being popular choices. In the food industry, canned food and pouches are commonly coated for preservation and shelf life extension. Flexible packaging, including single-use plastic bags, also utilizes protective coatings for enhanced durability and product protection. The e-commerce sector's growth is driving the demand for protective packaging solutions for consumer electronics, personal care products, cosmetics, and caps and closures.
• Steel and glass packaging also require protective coatings for improved product protection and shelf life. UV-cured coatings and nano coatings are gaining popularity due to their superior properties, such as faster curing times and enhanced resistance to scratches and chemicals. However, the high capital investments required for the implementation of these advanced coating technologies may pose a challenge to market growth.

What will be the size of the APAC Packaging Coatings Market during the forecast period?

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• The market is experiencing significant growth, driven by the increasing demand for protective, functional, and aesthetically appealing coatings in various packaging applications. Coatings are utilized across diverse substrates such as metals, plastics, paper, and glass, in sectors like consumer goods, healthcare, personal care, chemicals, flexible packaging, consumer electronics, and more. Durability, safety, and aesthetic appeal are key factors driving the market's expansion. Coatings provide enhanced protection against environmental factors, ensuring product preservation and extended shelf life. Functional coatings, including water-based and solvent-free options, cater to specific industry requirements, such as moisture resistance, chemical resistance, and UV protection. Aesthetic finishes, including gloss and matte, are increasingly popular for metal cans, plastic tubes, and other packaging formats, as they improve brand recognition and consumer appeal.
• The market's size and direction are influenced by factors like increasing consumer preferences for sustainable packaging solutions, advancements in coating technologies, and the growing demand for eco-friendly, low-emission coatings.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Technology
  • Solvent-borne
  • Waterborne
  • Powdered coatings
  • Others
• Product
  • Acrylic
  • Epoxy
  • Polyurethane
  • Polyester
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea

By Technology Insights

• The solvent-borne segment is estimated to witness significant growth during the forecast period.

Packaging coatings in APAC are utilized across various sectors, including consumer goods, healthcare, chemicals, and industrial packaging, among others. These coatings are applied on packaging materials such as metals, plastics, paper, and glass to enhance durability, safety, and aesthetic appeal. The functions of packaging coatings include barrier properties against moisture, oxygen, and UV radiation, ensuring product shelf life and quality. The market for packaging coatings in APAC is driven by population growth, changing lifestyles, urbanization, and consumer preferences for convenience packaging and e-commerce. Protective packaging coatings, such as epoxy thermosets, urethane, UV-Curable, and bio-based coatings, are gaining popularity due to their protective capabilities and eco-friendliness.

Environmental concerns are also influencing the market, with a shift towards recyclable and biodegradable coatings, waste reduction, and emissions reduction. Hubergroup Print Solutions, among others, are leading innovators in monomaterial flexible packaging, plastic tubes, metal cans, and paper-based containers. The market is subject to regulations, performance expectations, and consumer demands for sustainable coating solutions. Despite challenges such as supply chain disruptions, cost-effective coatings, and competitive pressures, the market is expected to remain stable and adapt to industry trends. The COVID-19 pandemic has accelerated the need for hygiene, product integrity, and online order fulfillment, further emphasizing the importance of packaging coatings.

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The Solvent-borne segment was valued at USD 636.20 million in 2018 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of APAC Packaging Coatings Market?

Increasing demand for eco-friendly coatings is the key driver of the market.

• The market is experiencing significant growth due to the increasing demand for eco-friendly coatings. Environmental concerns and regulations are driving this trend, as conventional coatings, which contain high levels of Volatile Organic Compounds (VOCs) and are produced using toxic chemicals, contribute to air pollution and pose health risks. In contrast, eco-friendly coatings are manufactured using sustainable raw materials and emit low VOCs. They are also biodegradable or recyclable, reducing waste and environmental impact. Consumer preferences for sustainable packaging solutions are on the rise, particularly in sectors such as consumer goods, healthcare, and personal care. E-commerce and convenience packaging are also fueling the demand for protective packaging coatings.
• The market caters to various functions, including barrier properties against moisture, oxygen, and UV radiation, product protection, and visual appeal. Functional coatings, such as epoxy thermosets, urethane, UV-Curable, and water-based coatings, offer superior performance and customization options. These coatings provide protection against contaminants, ensuring product integrity during transportation and storage. Sustainability and eco-friendliness are essential factors in consumer decision-making, leading to the development of bio-based and biodegradable coatings. Market trends include the use of monomaterial flexible packaging, plastic tubes, metal cans, and paper-based containers. The market caters to diverse industries, including chemicals, food and beverages, and industrial packaging.
• Regulations and performance requirements vary across sectors and functions, necessitating continuous advancements in coating technologies. Sustainability and cost-effectiveness are key considerations for manufacturers, leading to the development of recyclable and waste reduction coatings. Emissions reduction and the use of non-renewable resources are also critical concerns. The COVID-19 pandemic has highlighted the importance of hygiene and product safety, further emphasizing the need for protective packaging coatings. The market is dynamic and evolving, driven by changing consumer preferences, urbanization, and environmental concerns. Market players must adapt to meet the demands for sustainable, cost-effective, and high-performance coatings while complying with regulations and addressing the challenges of supply chain disruptions and product safety.

What are the market trends shaping the APAC Packaging Coatings Market?

Increasing focus on UV-cured coatings and nano coatings is the upcoming trend In the market.

• The market is characterized by intense competition among companies, with a focus on developing advanced protective coatings for various packaging materials, including metals, plastics, paper, and glass. Durability, safety, and aesthetic appeal are key functions of these coatings in sectors such as food, drinks, medicines, cosmetics, and consumer items. Coatings serve as barriers against moisture, oxygen, and UV radiation, extending shelf life and ensuring product quality and freshness. companies are investing in R&D to introduce innovative coatings, such as epoxy thermosets, urethane, UV-Curable, and water-based coatings, to cater to diverse market needs. Bio-based and biodegradable coatings are gaining popularity due to growing environmental concerns.
• Hubergroup Print Solutions, for instance, offers monomaterial flexible packaging and plastic tubes with eco-friendly coatings. Consumer preferences for convenience packaging, e-commerce, and promotional packaging are driving market growth. Protective packaging coatings are essential for consumer goods in healthcare, personal care, chemicals, and other industries. Performance, appearance, and barrier properties are crucial considerations for these coatings. Regulations and industry trends favor sustainable packaging solutions, such as recyclable coatings and waste reduction strategies. Cost-effective coatings and customized coatings cater to competitive pressures. The COVID-19 pandemic has accelerated the adoption of e-commerce and online order fulfillment, necessitating protective packaging solutions.
• Market dynamics include performance trade-offs, compliance with regulations, and consumer expectations. Sustainable coating solutions are essential for market stability and meeting evolving consumer demands. The market is continuously adapting to meet the needs of various sectors, ensuring product safety, quality, and visual appeal.

What challenges does APAC Packaging Coatings Market face during the growth?

Need for high capital investments is a key challenge affecting the market growth.

• The market is characterized by substantial capital investment due to the necessity of establishing production facilities, conducting research and development, and procuring raw materials. The production of packaging coatings in large quantities necessitates specialized facilities and equipment to ensure consistent quality and efficiency. The cost of constructing and maintaining these facilities is substantial, particularly for high-performance coatings that require intricate manufacturing processes. Durability, safety, and aesthetic appeal are crucial functions of packaging coatings in various sectors, including food and beverages, consumer items, healthcare, and chemicals. These coatings provide barrier properties against moisture, oxygen, and UV radiation, ensuring product quality, freshness, and shelf life.
• Consumer preferences for convenience packaging, e-commerce, and sustainable options have led to the development of protective packaging coatings, bio-based coatings, and biodegradable coatings. Environmental concerns have become increasingly important, driving the industry towards greener packaging solutions, recyclable coatings, and waste reduction. Market trends include continuous advancements in functional coatings, gloss finishes, matte finishes, printing, labeling, and branding. Performance, appearance, and barrier properties are essential considerations, along with cost-effectiveness, customization, and regulatory compliance. Market demands include antimicrobial coatings, tamper-evident coatings, and environmental standards. Industry trends include VOC emissions reduction, water-based coatings, solvent-free coatings, and sustainable options. Market stability and growth are influenced by factors such as population growth, changing lifestyles, urbanization, and emerging countries.
• Market adaptation and performance trade-offs are crucial to meet consumer expectations and comply with regulations. Packaging coatings serve various functions, including product protection, modern lifestyle adaptation, and food habits in emerging countries. They are used in sectors such as consumer goods, healthcare, personal care, and industrial packaging. The market includes various types of coatings, such as epoxy thermosets, urethane, UV-Curable, BPA-free, metal, rigid plastic, liquid cartons, paper-based containers, and more. The market is diverse and dynamic, with continuous advancements and competitive pressures. Market stability and growth are influenced by factors such as population growth, changing lifestyles, urbanization, and emerging countries.
• Market adaptation and performance trade-offs are crucial to meet consumer expectations and comply with regulations. Market demands include antimicrobial coatings, tamper-evident coatings, and environmental standards. Industry trends include VOC emissions reduction, water-based coatings, solvent-free coatings, and sustainable options. The market is a significant and dynamic industry, with a focus on performance, appearance, and sustainability. It serves various sectors and functions, including food and beverages, consumer items, healthcare, and industrial packaging. The market is influenced by various factors, including consumer preferences, environmental concerns, and regulatory compliance. Market stability and growth are essential to meet consumer demands and maintain market competitiveness.

Exclusive APAC Packaging Coatings Market Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Akzo Nobel NV
• Avient Corp.
• Axalta Coating Systems Ltd.
• BASF SE
• Berkshire Hathaway Inc.
• DIC Corp.
• Dow Inc.
• Eastman Chemical Co.
• Flint Group
• Henkel AG and Co. KGaA
• Hitech Corp. Ltd.
• Kemira Oyj
• Michelman Inc.
• Nippon Paint Holdings Co. Ltd.
• PPG Industries Inc.
• Royal Mail Group Ltd.
• Stahl Holdings B.V.
• Suzhou 3N Materials Technology Co. LTD.
• The Sherwin Williams Co.
• Vizag Chemical International

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The packaging coatings market in the Asia Pacific region is experiencing significant growth due to the increasing demand for advanced and innovative solutions in various sectors. The use of coatings in packaging materials such as metals, plastics, paper, and glass plays a crucial role in enhancing durability, safety, and aesthetic appeal. Packaging coatings serve multiple functions, including acting as barriers against moisture, oxygen, and UV radiation, extending shelf life and ensuring product quality and freshness. The packaging industry caters to numerous sectors, including consumer goods, healthcare, personal care, and industrial applications. The population In the Asia Pacific region, along with changing lifestyles and urbanization, has led to an increase in demand for convenience packaging and e-commerce.

Protective packaging coatings are becoming increasingly popular due to their ability to ensure product safety during transportation and storage. Bio-based and biodegradable coatings are gaining traction due to environmental concerns. Hubergroup Print Solutions, among others, offers monomaterial flexible packaging solutions, which are eco-friendly and reduce waste. Plastic tubes and metal cans are common applications for protective coatings in various industries. The substrate used for packaging plays a significant role in determining the type of coating required. Flexible packaging, including food cans, beverage cans, caps and closures, aerosols & tubes, and industrial packaging, often requires functional coatings for improved performance and appearance.

The use of epoxy thermosets, urethane, UV-curable, BPA-free, and other types of coatings is prevalent in various packaging applications. The market trends include water-based and solvent-free coatings, which offer environmental benefits and reduce VOC emissions. The packaging industry is subject to numerous regulations, and compliance with these regulations is essential. Performance, appearance, and barrier properties are critical factors In the selection of packaging coatings. Customization, antimicrobial coatings, tamper-evident coatings, and eco-friendliness are among the industry trends. Cost-effective coatings and competitive pressures are driving the market towards customized solutions. Sustainable options, such as recyclable coatings and waste reduction, are gaining popularity due to environmental concerns.

Emissions reduction and the use of non-renewable resources are also areas of focus. The COVID-19 pandemic has disrupted the global supply chain, leading to supply chain disruptions and increased demand for hygiene and product integrity. Online order fulfillment and packaging waste are areas of concern for businesses, leading to market adaptation and the need for packaging performance and product longevity. The market demands continue to evolve, with a focus on heat dissipation properties, scratch resistance, anti-fingerprint properties, premium finishes, and unique textures. The consumer experience and product longevity are critical factors In the selection of packaging solutions. The market dynamics include changing consumer preferences, regulatory requirements, and environmental concerns. The market is expected to remain stable, with a focus on performance, appearance, and sustainability.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across APAC
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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