Paints Packaging Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, Japan, Germany, UK - Size and Forecast 2024-2028

Paints Packaging Market Size 2024-2028

The paints packaging market size is estimated to grow by USD 5.35 billion at a CAGR of 4.6% between 2023 and 2028. The global market is experiencing significant growth, driven by the increasing demand for paints and their derivatives in various end-use industries. This trend is further fueled by the surge in infrastructure development, particularly in the construction sector, where the rise of skyscraper construction is leading to a higher demand for high-quality, durable paint packaging solutions. However, the market is also faced with challenges, including the fluctuating prices for raw materials used in paint production and packaging, such as resins, pigments, and additives. These price fluctuations can impact the profitability of paint manufacturers and packaging providers, requiring them to adopt cost-effective production methods and innovative solutions to mitigate the impact on their bottom line. Additionally, there is a growing focus on sustainable packaging solutions, as consumers and regulatory bodies demand more eco-friendly options, adding another layer of complexity to the market landscape. Overall, the paints packaging market is poised for growth, but players must navigate these trends and challenges to succeed.

What will be the Size of the Paints Packaging Market Size?

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Market Dynamics

The market is a significant industry, encompassing the production and sale of paints, coatings, and related solutions. A key end-use sector for paints is construction, with infrastructure spending driving demand for both interior and exterior paints. Exterior paints, in particular, are in focus due to their role in protecting buildings from the elements. VOC content, or Volatile Organic Compounds, is a critical factor in the paints industry, with increasing emphasis on low-VOC and zero-VOC options. Paint exports and imports are also key aspects of the market, with major players like Europe and Asia Pacific dominating global trade. R&D spending is a significant area of investment for paint companies, with a focus on developing new materials, such as polymers from Solvay and Addibond, for improved coating solutions. The market is also seeing innovation in packaging formats, including cans, pails, aerosol cans, and pouches, made from materials like Polyethylene, Aluminum, and steel. Corrosion resistance is another key consideration for paint manufacturers, with digital technologies playing an increasingly important role in developing advanced coating solutions. The market is also being influenced by e-commerce and online sales, with estimations suggesting that these channels will continue to grow in importance. 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.

Key Market Driver

One of the key factors driving the market growth is the growing demand for paints and their derivatives. There are several types of paints available in the market as per the applications and end-user requirements such as solvent-based varnishes, lacquers, enamels, and latex paints. There is a significant demand for paints and their derivatives due to the high demand for new and existing buildings.

Moreover, there is a rising demand for paints and their derivatives across the world due to the evolution of new paints, such as water-soluble and odor-free paints. In addition, the advent of advanced painting tools, including spray painting and rolling brushes, has minimized the requirement for trained painters, which has fuelled the repainting of residential buildings. Hence, such factors are driving the market growth during the forecast period.

Significant Market Trends

A key factor shaping the market growth is the rising demand for customization. There is a growing focus on customized products by market players in the market due to increased competition and the strong presence of established players in the market. The customization of these products comprises the customization of the size, shape, raw materials used for design, and coatings inside the cans for specific products. 

Moreover, the customization enables paint manufacturers to manufacture that align perfectly with their brand identity. In addition, there is an increasing offering of a wide variety of sizes to cater to various customer requirements. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market during the forecast period.

Major Market Challenge

Fluctuating prices for raw materials are one of the key challenges hindering market growth. Some of the commonly used raw materials include plastic and metals, including aluminum, steel, and tin steel. The price volatility of these raw materials will significantly impact the price. In addition, there has been an increase in the price of raw materials due to the widening of the demand-supply gap in the last few years.

Moreover, the rise in raw materials will significantly minimize the profit margins for manufacturers which can negatively impact the market. Some of the main types of plastics that are used for manufacturing paint packages include polyethylene, polypropylene, and polyvinyl carbonates.  As these polymers are derived from crude oil, the fluctuations in crude oil prices can significantly impact the prices of these polymers. Hence, such factors are negatively impacting the market which in turn will hinder the market during the forecast period.

Market Segmentation By Product, Material and Geography

Market Product Analysis

The cans and pails segment is estimated to witness significant growth during the forecast period. This segment is one of the traditional and vital forms in the global market. The main advantage of this segment is that it offers e durability and protection to a wide range of paint and coating products. This segment is available in various sizes and materials, enabling paint manufacturers to cater to both consumer and industrial needs.

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The cans and pails segment was the largest segment and was valued at USD 13.95 billion in 2018. Metal cans, manufactured from steel or aluminum, have been a staple in the global industry for a very long time. There is an increasing preference for metal cans due to their robustness, resistance to external elements, and ability to preserve the quality of the paint inside. These paint cans are available in quart, gallon, and larger sizes, serving both do-it-yourself (DIY) painters and enthusiasts and professional painters. One of the prominent suppliers of metal and glass solutions, including paint cans, is the Ardagh Group. These companies provide various sizes and customization options. Mauser Packaging Solutions is another prominent company that offers industrial packaging solutions, such as steel and plastic cans suitable for paints, coatings, and chemicals.  Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market during the forecast period.

Market Material Analysis

Based on material, the segment is classified into rigid plastic and metal. Some of the main factors that are significantly contributing to the growth of the rigid plastic segment include the easy availability of cost-effective raw materials and convenient transportation options. There has been a growing shift toward plastic packaging from metal packaging over the last few years due to its several advantages. Several manufacturers are increasingly focusing on these due to their increase in demand from customers. Furthermore, the new standard for industrial initiative fuels the development of the recycling of plastic packaging, and it is suitable for entering polypropylene (PP) recycling streams. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market during the forecast period.

Market Region Analysis

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APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main factors that have significantly contributed to the growth of the market in APAC include the rapid growth in population, urbanization, and the construction industry.

Moreover, some of the main countries in APAC that fuel the market growth in the region include China, India, South Korea, Australia, and Japan. China is one of the key global suppliers in the global market as the cost of production is low in the country due to the low cost of manpower. In addition, there has been an increase in demand from the domestic market fuelled by the increasing construction activities. Hence, such factors are expected to drive the market growth in APAC during the market forecasting period.

Who are the Major Paints Packaging Market Companies?

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

Amcor Plc: The company offers solutions for applications such as furniture, construction and building.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

Ardagh Group SA, BABA GROUP OF COMPANIES, Berlin Packaging LLC, Berry Global Inc., BWAY Corp., Can One Berhad, Dow Chemical Co., Envases Group, Greif Inc., Inno Pak Inc., Involvement Ltd, Mangla Metal Pvt. Ltd., Mold Tek Packaging Ltd., Mondi Plc, MUTHA PLASTIC INDUSTRIES, National Can Industries Pty Ltd., Reliance Plastic Containers, Silgan Holdings Inc., and Sun Packaging

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.

Market Customer Landscape

The market research report encompasses the entire market adoption cycle, ranging from the initial innovator phase to the subsequent laggard stage. It emphasizes adoption rates across various regions, determined by penetration levels. Additionally, the report outlines essential purchasing factors and factors influencing price sensitivity. This aids companies in assessing and formulating effective growth strategies.

Global Market Customer Landscape

Segment Overview

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

• Product Outlook
  • Cans and pails
  • Pouches
• Material Outlook
  • Rigid plastic
  • Metal
• Geography Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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Market Analyst Overview

The Market is crucial for the coatings industry, with packaging materials playing a vital role in ensuring product quality and safety. Paint can manufacturers focus on packaging design to enhance the aesthetic appeal and functionality of their products. Increasingly, there's a shift towards sustainable packaging solutions to reduce the environmental impact of packaging materials.

Packaging innovations such as labeling solutions and packaging customization are driving market growth, along with stringent packaging regulations that emphasize packaging safety and durability. Suppliers in the paint packaging industry are also enhancing packaging logistics to ensure timely delivery and minimize disruptions.

Moreover, effective branding and marketing strategies are essential in this competitive market, highlighting the importance of attractive and functional packaging. As the industry evolves, paint packaging suppliers are expected to continue innovating to meet the changing needs of consumers and regulatory requirements.

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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 of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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