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Packaging Inks and Coatings Market Business Growth Trends And Forecast 2024

Author : Ronak Bora | Published Date : 2019-04-12 

Global Market Insights, Inc. present the report on Packaging Inks and Coatings Market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024.

Technology advancements for improving packaging of products to extend their customer base on large scale will eventually boost the packaging inks and coatings market size by 2024. Prevailing demand for better packaging for food & beverage along with awareness regarding the food quality and its protection from contamination is projected to drive the business growth in the coming future. The manufacturers in cosmetic industry are increasingly adopting the attractive packaging techniques to attain competitive advantage across the globe. Cosmetics industry is thriving and is projected to grow at a CAGR of over 4% which will effectively contribute to packaging inks and coatings market size over the forecast timeframe.

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Global Packaging Inks and Coatings Market size is flourishing and is expected to grow at a healthy CAGR during the forecast period. Packaging is an essential factor driving the industry growth across the globe. Increasing consumer preference for attractive packaging across various end-user industry including food & beverage, pharmaceuticals, cosmetics, etc. is expected to drive the packaging inks and coatings industry size over the projected timeframe.

Pharmaceuticals industry is another driving forces making a significant contribution towards packaging inks and coatings market size over the past many years. Pharmaceuticals industry is thriving and is expected to grow at a CAGR of over 6% which shall have a positive influence on the industry growth during the forecast period.

Packaging inks and coatings market size is segmented based on substrates including paper, metal, plastics (flexible, rigid) and rubber. Flexible plastic market share is highest and is accounted for approximately 40% as it is easy and soft and can be easily moulded and customized to meet the diverse demand specifications of a wide range of products. Furthermore, its lighter weight and lower cost is expected to stimulate the packaging inks and coatings insdustrty size in the coming years.

Based on end-user, packaging inks and coatings market size is segmented into cosmetics, food & beverage, pharmaceuticals, industrial and others. Food & beverage industry accounts for a major chunk of the packaging inks and coatings industry size which is expected to propel owing to increasing consumer preference for packaged products across the globe. Furthermore, cosmetics industry shall witness growing trends in the coming years to attain competitive advantage. This is expected to have a positive influence on the industry size by 2024.

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North America has captured a major chunk of the industry share due to prevailing product demand in food & beverage industry on a large scale. Moreover, the packaging inks and coatings market size is expected to witness growth due to protruding demand for packaged food & beverage in this region. Changing consumer lifestyle and increasing awareness for contamination free food in Asia Pacific primarily in India, China and Indonesia has stimulated packaging inks and coatings industry size over the past years.

Key global packaging inks and coatings market size contributors are AkzoNobel N.V., PPG Industries Inc., Spring Coating Systems, FlintGroup, Sun Chemical Corporation, Siegwerk Druckfarben AG & Co. KGaA, Valspar, ALTANA, Brancher, Arkema, Axalta Coatings Systems, ColorMatrix, CROMOS TINTAS GRAFICAS, Environmental Inks and Coatings, Nippon Paint, Toyo Ink and Sakata.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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