Packaging coating additives are used to package food, industrial products, Health care equipment, etc. Food packaging majorly involves plastic material, which is prone to friction, microbial activities, and moisture Increase in demand for packaged foods and rise in investments in food packaging application by packaging additive manufacturers are driving the packaging coating additives.
Global Packaging Coating Additives Market: Overview
Based on function, the packaging coating additives market can be segmented into anti-block, anti-fog, antimicrobial, antistatic, and slip. The anti-block segment is estimated to account for the major share of the packaging coating additives market in the near future. Polymer films tend to stick to each other during processing or storage; hence, addition of anti-block additives creates little bumps on the films’ surface, thereby preventing the adhesion of layers. Inorganic anti-block additives are widely used in various packaging applications due to their cost effectiveness. Growth in population, increase in disposable income, and improvement in standard of living are boosting the demand for anti-block additives. Antimicrobial additives offer improved mechanical properties and high dimensional and chemical stability. Rise in consumer awareness about health-related infections, rapid urbanization, and increase in population in Asia Pacific are boosting the demand for antimicrobial additives in Asia Pacifi. Antimicrobial additives are used to prevent the growth of infection and fever-causing microorganisms such as bacteria, fungi, algae, mildew, and other parasites. In terms of formulation technology, the packaging coating additives market can be classified into water-based, solvent-based, and powder-based. Water-based is estimated to be a rapidly growing formulation segment of the packaging coating additives market. Water-based formulations are extensively used to manufacture flexible packaging coatings to maximize the efficiency of functions such as slip control and anti-blocking. Increase in demand for slip additives and anti-block additives in applications such as food packaging, industrial packaging, and consumer packaging is driving the packaging coating additives market. In terms of application, the packaging coating additives market can be segregated into food packaging, industrial packaging, health care packaging, consumer packaging, and others. Food packaging is estimated to be a rapidly growing application segment of the packaging coating additives market. Increase in investments in food packaging application by packaging additives manufacturers is driving the food packaging application segment.
Global Packaging Coating Additives Market: Trends & Developments
Increase in disposable income of the middle-class population in emerging economies and rise in awareness about health are factors driving the global packaging coating additives market. Implementation of stringent environmental and government regulations are volatility of raw material prices are the major restraining factors of the packaging coating additives market. Rise in demand for bio-based slip additives and emerging economies are creating opportunities for the packaging coating additives market. Managing plastic waste from different industries is the major challenge facing manufacturers of packaging coating additives market.
Global Packaging Coating Additives Market: Regional Outlook
Based on region, the global packaging coating additives market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounts for the key share of the global packaging coating additives market. The market in the region is expected to expand at rapid pace during the forecast period. Industrial development and improvement in economic conditions in Asia Pacific are creating lucrative opportunities for the packaging coating additives market in the region. Asia Pacific is the hub for foreign investments and booming industrial sector, led by low-cost labor, easy availability of raw materials, increasing adoption of modern technologies, innovations, and easy availability of inexpensive land. Growth in middle-class population, rise in industrialization, increase in disposable income, changing lifestyles, and surge in consumption of packaged products are anticipated to drive the food packaging industry. This, in turn, is estimated to augment the packaging coating additives market.
Global Packaging Coating Additives Market: Key Players
Key players operating in the global packaging coating additives market include Croda International Plc, BASF SE, Lonza, 3M, Arkema, Evonik Industries AG, and Solvay.
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.