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
- LEIPA Georg Leinfelder GmbH
- Balmer Lawrie & Co. Ltd
- Sigma Plastics Group
- Sealed Air Corp
- Berry Plastics Corp
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
- Polyvinylidene Dichloride (PVDC)
- Wash Coats
- Acrylic Polyurethanes
Global Flex Pack Coatings Market, by End-user
- Food & Beverages
- Home Care
- Personal Care & Cosmetics
- Oil & Gas
Global Flex Pack Coatings Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.