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Growth Opportunities in the Glass, Plastic, and Paper Packaging Coatings Industry
Future Growth Potential Enhanced by Focus on Sustainability and Regulatory Landscape
27-May-2024
Global
Market Research
PFFD-01-00-00-00
CM_2024_770
The glass, plastic, and paper packaging industry faces a significant challenge in balancing the conventional advantages of product protection and customization with the imperative to reduce landfill waste, combat climate change, and conserve resources. Advanced packaging coatings have extensive applications across several industries, including F&B, pharmaceuticals, cosmetics, and personal care.
For example, water-based coatings can bolster the barrier properties of paper and cardboard, enabling their use in packaging where plastic was previously dominant. Repulpable barrier coatings offer an eco-friendly alternative to plastic films, facilitating easier recycling in standard paper facilities.
Demand for packaging coatings mirrors the growth in packaging shipments, albeit tempered by the adoption of more efficient coating and application methods. Anticipated advancements in biodegradable and recyclable coatings are poised to propel growth in the paper packaging industry, driven by companies seeking alternatives to conventional plastic packaging.
The analysis focuses on glass, plastic, and paper packaging substrates to examine the demand for packaging coatings, mainly in F&B, pharmaceutical, and personal care products. It discusses the qualitative aspects of some of the most frequently used resin chemistries, such as epoxy, polyurethane, acrylic, phenolics, and polyester in packaging coatings.
The geographic scope of this analysis encompasses the Americas, Europe, Asia-Pacific, the Middle East, Africa, and South Asia.
Revenue Forecast
The global revenue for Glass, Plastic, and Paper Packaging Coatings is estimated at $7.82 billion in the base year, with a CAGR of 4.4% for the study period from 2023 to 2030.
The Impact of the Top 3 Strategic Imperatives on the Glass, Plastic, and Paper Packaging Coatings Industry
Transformative Mega Trends
Why
- With sustainability emerging as a prominent packaging trend, companies throughout the supply chain are actively working to create fully recyclable and eco-friendly packaging solutions.
- The emphasis on circularity is on the rise due to heightened consumer consciousness, corporate sustainability goals, and government directives.
Frost Perspective
- The use of eco-friendly packaging coatings benefits manufacturers and end users in several ways, including serving as an essential marketing tool to promote sustainability and competitive differentiation.
- Packaging coating manufacturers are expected to focus on developing more sustainable chemistries in the next 5 years.
Competitive Intensity
Why
- The growth of packaging solutions largely depends on end-industry demand. Mergers and acquisitions (M&A) help manufacturers strengthen their solutions' capabilities and competencies.
- Factors such as the anti-plastic movement, ease of recycling, biodegradability, and materials' lightweight advantages position paper packaging as a sustainable alternative to other packaging substrates, resulting in several recent multibillion-dollar M&A deals in the industry.
Frost Perspective
- As the packaging industry evolves toward paper packaging, M&As are helping companies build and expand capabilities to meet customer requirements. Leading food and beverage (F&B) brands embrace this change by emphasizing sustainability in their packaging choices.
- These trends will alter the customer landscape for packaging coating companies. Those that respond quickly to this transformation will stay ahead of the competition.
Innovative Business Models
Why
- In response to the growing ban on harmful per- and poly-fluoroalkyl substances (PFAS) in food packaging globally, industry participants are developing and innovating PFAS-free coatings without compromising packaging performance.
- Manufacturers leverage each other's expertise to expand product offerings and capabilities in meeting the demand for innovative PFAS-free packaging coatings.
Frost Perspective
- Since stakeholders value developing PFAS-free coating solutions, changes are expected across every stage of the supply chain. As these efforts gain momentum, new business models will likely emerge over the forecast period.
- For example, in 2023, Kemira and Jain Chem collaborated to develop aqueous barrier coatings for recyclable paper and board packaging that replace traditional materials such as polyethylene (PE) and harmful PFAS. More such developments by coating manufacturers will likely emerge in the next 1 to 3 years.
The Role of Coatings in Packaging
| Description |
|---|
| Barrier Protection: Coatings act as a shield against moisture, oxygen, and other gases, effectively prolonging the shelf life of the packaged goods. |
| Enhanced Printability: Coatings enhance the printing capabilities of packaging materials, enabling vibrant, high-quality graphics, branding, and product details. |
| Protection from External Factors: UV coatings safeguard packaged items from degradation due to sunlight exposure, preserving their quality over time. |
| Protection: Coatings improve scratch resistance and overall sturdiness, ensuring that packaging solutions maintain their appearance throughout various handling and transportation processes. |
| Aesthetic Appeal: Coatings offer gloss, matte, or other finishes to elevate the visual allure of packaging, making products more appealing to consumers. |
Competitive Environment
| Number of Companies in the Industry | <100 |
| Competitive Factors | Price, performance, regulatory compliance, sustainability, innovation, past relationships, and technical support |
| Key End-user Groups | Food and Beverage, Pharmaceuticals, Personal Care and Cosmetics, and Others* |
| Notable Industry Participants | PPG Industries, Sherwin-Williams, Axalta Coating Systems, Melodea Bio Based Solutions, Michelman Inc. |
| Other Major Industry Participants | Solenis, Vibrantz Technologies, BASF SE, ACTEGA (Altana AG), Briolf, Allnex Group, Bostik SA, Covestro AG, Flint Group, Wacker Chemie AG, Bottle Coatings, KECO Coatings, Arkema, Orrion Chemicals Orgafom, Gulbrandsen, ICA Group, Deco Glas, Jamestown Coating Technologies, Weilburger, Protek Paint, UPM, Stora Enso, Alfa Chemicals, Sun Chemical, Siegwerk, Henkel, Kuraray Co., Ltd, Lubrizol, and Mondi Group |
| Distribution Structure | Distributors and direct sales |
Why Is It Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Glass, Plastic, and Paper Packaging Coatings Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Scope of Analysis (continued)
Packaging Coatings: End Industries
Key Takeaways: Glass, Plastic, and Paper Packaging Coatings
Demand Drivers for Glass, Plastic, and Paper Packaging Coatings
Demand Drivers for Glass, Plastic, and Paper Packaging Coatings (continued)
Demand Drivers for Glass, Plastic, and Paper Packaging Coatings (continued)
Demand Restraints for Glass, Plastic, and Paper Packaging Coatings
Demand Restraints for Glass, Plastic, and Paper Packaging Coatings (continued)
Revenue Forecast
ValueChain
Value Chain Discussion
Competitive Environment
Overview: Glass Packaging
Overview: Glass Packaging Coatings
Types of Glass Packaging Coatings
Types of Glass Packaging Coatings (continued)
Growth Drivers
Growth Driver Analysis
Growth Driver Analysis (continued)
Growth Restraints
Growth Restraint Analysis
Growth Restraint Analysis (continued)
Growth Restraint Analysis (continued)
Forecast Assumptions
Revenue Forecast
Forecast Analysis
Current Status and Future Prospects: Glass Packaging Coatings
Glass Packaging Coatings: Regional Insights
Overview: Plastic Packaging Coatings
Types of Plastic Packaging Coatings
Types of Plastic Packaging Coatings (continued)
Coatings For Flexible and Rigid Plastic Packaging
Growth Drivers
Growth Driver Analysis
Growth Restraints
Growth Restraint Analysis
Growth Restraint Analysis (continued)
Growth Restraint Analysis (continued)
Forecast Assumptions
Revenue Forecast
Forecast Analysis
Current Status and Future Prospects: Plastic Packaging Coatings
Current Status and Future Prospects: Plastic Packaging Coatings (continued)
Plastic Packaging Coatings: New Product Development
Plastic Packaging Coatings: Regional Insights
Overview: Paper Packaging Coatings
Types of Paper Packaging Coatings
Types of Paper Packaging Coatings (continued)
Growth Drivers
Growth Driver Analysis
Growth Driver Analysis (continued)
Growth Restraints
Growth Restraint Analysis
Growth Restraint Analysis (continued)
Forecast Assumptions
Revenue Forecast
Forecast Analysis
Barrier Coatings for Paper Packaging
Barrier Coatings for Paper Packaging (continued)
PFAS-free Barrier Coatings for Paper Packaging
Potential Alternatives to PFAS-free Barrier Coatings for Paper Packaging
Current Status and Future Prospects: Paper Packaging Coatings
Current Status and Future Prospects: Paper Packaging Coatings (continued)
Paper Packaging Coatings: Regional Insights
Growth Opportunity 1: PFAS-free Coatings
Growth Opportunity 1: PFAS-free Coatings (continued)
Growth Opportunity 2: Opportunity for Collaborations
Growth Opportunity 2: Opportunity for Collaborations (continued)
Growth Opportunity 3: Frictionless Coatings for Plastic Packaging
Growth Opportunity 3: Frictionless Coatings for Plastic Packaging (continued)
List of Exhibits
Legal Disclaimer
List of Figures
- Glass, Plastic, and Paper Packaging Coatings: Forecast, Global, 2019–2030
- Glass, Plastic, and Paper Packaging Coatings: Competitive Structure, Global, 2023
- Coatings for Glass Packaging: Drivers, Global, 2024–2030
- Coatings for Glass Packaging: Restraints, Global, 2024–2030
- Glass Packaging Coatings: Summary of Growth Drivers and Restraints, Global, 2023–2030
- Glass Packaging Coatings: Forecast, Global, 2019–2030
- Coatings for Plastic Packaging: Growth Driver, Global, 2024–2030
- Coatings for Plastic Packaging: Growth Restraints, Global, 2024–2030
- Plastic Packaging Coatings: Summary of Growth Drivers and Restraints, Global, 2023–2030
- Plastic Packaging Coatings: Forecast, Global, 2019–2030
- Coatings for Paper Packaging: Growth Driver, Global, 2024–2030
- Coatings for Paper Packaging: Restraints, Global, 2024–2030
- Paper Packaging Coatings: Summary of Growth Drivers and Restraints, Global, 2023–2030
- Paper Packaging Coatings: Forecast, Global, 2019–2030
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| Deliverable Type | Market Research |
|---|---|
| Author | Simran Tamboli |
| Industries | Chemicals and Materials |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Packaging Coatings Industry Growth |
| Keyword 2 | Sustainable Packaging Coatings Trends |
| Keyword 3 | Comprehensive Packaging Coatings Report |
| List of Charts and Figures | Glass, Plastic, and Paper Packaging Coatings: Forecast, Global, 2019–2030~ Glass, Plastic, and Paper Packaging Coatings: Competitive Structure, Global, 2023~ Coatings for Glass Packaging: Drivers, Global, 2024–2030~ Coatings for Glass Packaging: Restraints, Global, 2024–2030~ Glass Packaging Coatings: Summary of Growth Drivers and Restraints, Global, 2023–2030~ Glass Packaging Coatings: Forecast, Global, 2019–2030~ Coatings for Plastic Packaging: Growth Driver, Global, 2024–2030~ Coatings for Plastic Packaging: Growth Restraints, Global, 2024–2030~ Plastic Packaging Coatings: Summary of Growth Drivers and Restraints, Global, 2023–2030~ Plastic Packaging Coatings: Forecast, Global, 2019–2030~ Coatings for Paper Packaging: Growth Driver, Global, 2024–2030~ Coatings for Paper Packaging: Restraints, Global, 2024–2030~ Paper Packaging Coatings: Summary of Growth Drivers and Restraints, Global, 2023–2030~ Paper Packaging Coatings: Forecast, Global, 2019–2030~ |
| Podcast | No |
| WIP Number | PFFD-01-00-00-00 |