New Report Available: Packaging Coatings Market in APAC 2015-2019

Packaging coating plays a significant role in the transportation, warehousing, logistics, sales, and end use of a product, and also in attracting customers to purchase the product. The type of coating, in terms of the material used, is decided based on customer and product requirement. Vendors use stainable, renewable, and recyclable raw materials, such as paper, plastic, metal, glass, and other flexible materials, to manufacture packaging coatings.

Technavio analysts forecast the packaging coatings market in APAC to grow at a CAGR of 4.85% during 2014-2019.

Commenting on the report, an analyst from Technavio's team said: "The increase in consumer preference for eco-friendly products is an important trend being witnessed in the packaging coatings market in APAC. The manufacturers of packaging coatings, which include beverage packaging and food packaging, are developing new and eco-friendly coatings to comply with the regulations and to meet the increasing demand for sustainable products that do not harm the ecosystem. This in turn is expected to propel the growth of the market during the forecast period. The VTT technical research center has developed technology for a recyclable and eco-friendly packaging coatings solution. These coatings help in the manufacture of thin, lightweight, fully recyclable, and air-tight packaging materials. They use an atomic layer deposition (ALD) method, which is helpful in food and pharmaceutical packaging as they have good gas permeation resistance. Also, these recyclable coatings do not use barrier materials such as aluminum film, thereby using less raw materials as compared to the traditional packaging coatings materials."

According to the report, the growth of the global packaging industry is a major driver for the growth of the packaging coatings market in APAC. The growth will be characterized by the growing demand for packaging coatings from the packaging industry because of the increased demand for plastic packaging from the food and beverage industry.

Further, the report states that manufacturers are under constant pressure to find ways to reduce prices. In addition, suppliers of raw materials determine the prices of raw materials, which in turn has a negative impact on the growth of the packaging market. Thereby, increasing the price of packaging coatings.

The key players in the Packaging Coatings Market in APAC are Valspar, PPG Industries and Akzo Nobel while other prominent vendors include Arkema Group, Axalta Coatings Systems, BASF, Color Matrix, Dow Chemicals, Flint Group, Kansai Paint, Nippon Paint, Sun Chemical and Sherwin-Williams

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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