Flex Pack Coatings: Introduction
- Flex pack coatings are generally used to label any packaged product. Flex (flexible) pack coatings help maintain freshness and structural integrity of the material by protecting it during transportation and storage. Rise in demand for packaging solutions in various end-user industries such as food & beverages, pharmaceutical, cosmetics, electronics, and lubricants is driving the global flex pack coatings market. Flex pack coatings offer protection to stored or packaged contents by generating a barrier against humidity, air, high temperature, etc. Flexible packaging is used to package a range of products including processed meat, processed cheese, liquids, medical device films, and snacks. Coatings used for flexible packaging comprise primers, adhesives, PVDC, wash coats, lacquers, varnishes, and acrylic polyurethanes.
Key Drivers and Restraints of Global Flex Pack Coatings Market
- The flex pack coatings market has developed significantly of late. This can be primarily ascribed to the high performance of flex pack coatings. Rise in usage of flex pack coatings in personal care & cosmetics, industrial, electronics, and oil & gas sectors is expected to propel the flex pack coatings market during the forecast period.
- Increase in demand for flexible packaging solutions is considered a major factor driving the global flex pack coatings market. Rise in demand for products with enhanced shelf life and customer preference for online purchase are driving the flex pack coatings market. Enhanced use of flexible packaging leads to generation of higher amount of plastic. This is likely to 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: Material Segment
- In terms of material, the global flex pack coatings market can be segmented into polyvinyl chloride (PVC), polyethylene (PE), polyethylene terephthalate (PET), and polypropylene (PP)
- The polyvinyl chloride (PVC) segment is expected to account for significant share of the global flex pack coatings market during the forecast period. It is anticipated to be followed by the polyethylene (PE) segment.
- The polyethylene terephthalate (PET) segment is likely to expand at a rapid pace during the forecast period
Flex Pack Coatings: Coating Type Segment
- In terms of coating type, the global flex pack coatings market can be divided into primers, adhesives, polyvinylidene dichloride (PVDC), wash coats, lacquers, varnishes, and acrylic polyurethanes
- The primers segment is expected to account for significant share of the global flex pack coatings market during the forecast period. It is anticipated to be followed by the varnishes segment.
Flex Pack Coatings: End-user Segment
- In terms of end-user, the global flex pack coatings market can be segmented into food & beverages, pharmaceutical, home care, personal care & cosmetics, industrial, electronics, and oil & gas
- The food & beverages segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the pharmaceutical segment during the forecast period.
- The home care segment is likely to expand at a healthy CAGR during the forecast period
Covid-19 Impact on Flex Pack Coatings Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the flex pack coatings market.
Asia Pacific to Dominate Flex Pack Coatings Market
- In terms of region, the global flex pack coatings market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global flex pack coatings market in 2020. This trend is anticipated to continue during the forecast period owing to the rise in population, increase in demand for flex pack coatings in the food & beverages industry, advancements in the pharmaceutical industry, and changes in lifestyle in the region. The flex pack coatings market in North America is anticipated to expand at a rapid pace during the forecast period.
Key Manufacturers Operating in Global Flex Pack Coatings Market
The global flex pack coatings market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global flex pack coatings market include:
- FPS Pty Ltd
- Innovative FlexPak LLC
- Uflex
- LEIPA Georg Leinfelder GmbH
- Balmer Lawrie & Co. Ltd
- Amcor
- Sigma Plastics Group
- Sealed Air Corp
- Berry Plastics Corp
- DuPont
- Winpak
Global Flex Pack Coatings Market: Research Scope
Global Flex Pack Coatings Market, by Material
- Polyvinyl Chloride (PVC)
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
Global Flex Pack Coatings Market, by Coating Type
- Primers
- Adhesives
- Polyvinylidene Dichloride (PVDC)
- Wash Coats
- Lacquers
- Varnishes
- Acrylic Polyurethanes
Global Flex Pack Coatings Market, by End-user
- Food & Beverages
- Pharmaceutical
- Home Care
- Personal Care & Cosmetics
- Industrial
- Electronics
- Oil & Gas
Global Flex Pack Coatings Market, by Region
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
