Flex Pack Coatings Market: Overview
Flex pack coatings are generally used to label any packaged product. Use of flex (flexible) pack coatings helps maintain freshness and structural integrity of the material by protecting it during transportation and storage. Surge in demand for packaging solutions from various end-user industries such as food & beverages, pharmaceutical, cosmetics, electronics, and lubricants is promoting growth of the global flex pack coatings market. Flex pack coatings can be employed to offer protection to stored or packaged contents by generating a barrier against humidity, air, high temperature, etc. Flexible packaging is utilized to package a range of products including processed meat, processed cheese, liquids, medical device films, snacks, etc. Coatings used for flexible packaging comprise primers, adhesives, PVDC, wash-coats, lacquers, varnishes, and acrylic polyurethanes.
Flex Pack Coatings Market: Drivers & Restraints
Increasing demand for flexible packaging solutions is considered a major factor driving the global flex pack coatings market. Rising demand for products with enhanced shelf life and customers’ preference for online purchase are driving the flex pack coatings market. Enhanced use of flexible packaging leads to generation of more amount of plastic. This factor may restrain the market. Recently, a few manufacturers have come up with advanced flex pack coatings that are eco-friendly. Innovative green flex pack coatings are anticipated to fuel the global flex pack coatings market during the forecast period.
Flex Pack Coatings Market: Key Segments
In terms of material the global flex pack coatings market can be segmented into PVC (polyvinyl chloride), PE (polyethylene), PET (poly ethylene terephthalate), and PP (polypropylene). In terms of end-user, the market can be categorized into food & beverages, pharmaceutical, home care, personal care & cosmetics, industrial, electronics, and oil & gas. Based on coating type, the global flex pack coatings market can be classified into primers, adhesives, PVDC, wash-coats, lacquers, varnishes, and acrylic polyurethanes.
Flex Pack Coatings Market: Regional Outlook
The global flex pack coatings market expanded significantly in 2017. This trend is estimated to continue during the forecast period. Asia Pacific holds a significant share of the global market. Rise in population, increase in the demand from food and beverages, advancements in the pharmaceutical industry, and changes in lifestyle in the region are projected to boost the market in Asia Pacific during the forecast period. Advancements in pharmaceutical and food industries in developing economies such as China and India are augmenting the demand for flex pack coatings in these countries. The market for flex pack coatings in North America is driven by increase in the demand for pharmaceutical products in the region. Extensive research and developmental activities in medical and health care sectors are likely to enhance the process of labelling onto packaged products. The packaging industry in Europe is undergoing the development phase and hence, the demand for packaging coatings is also increasing in the region. Demand for flex pack coatings is high in countries such as Germany, the U.K., and Italy. The flex pack coatings market in Latin America and Middle East & Africa is estimated to expand at a significant pace during the forecast period, owing to the recent economic growth of these regions. Surging demand for packaging applications from the food & beverages sector is likely to fuel the demand for flex pack coatings in Middle East & Africa between 2018 and 2026.
Flex Pack Coatings Market: Key Players
Key players operating in the global flex pack coatings market include FPS Pty Ltd, Innovative FlexPak LLC, Uflex, Bemis, and LEIPA Georg Leinfelder GmbH.
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