Packaging Inks and Coating Market Forecasts to 2030 – Global Analysis By Type (Flexible Plastic, Metal, Rigid Plastic, Paper and Other Types), Technology (Flexographic Printing, Gravure Printing, Digital Printing and Other Technologies), End User and By G

Packaging Inks and Coating Market Forecasts to 2030 – Global Analysis By Type (Flexible Plastic, Metal, Rigid Plastic, Paper and Other Types), Technology (Flexographic Printing, Gravure Printing, Digital Printing and Other Technologies), End User and By Geography

According to Stratistics MRC, the Global Packaging Inks and Coating Market is accounted for $4.39 billion in 2023 and is expected to reach $7.09 billion by 2030 growing at a CAGR of 7.1% during the forecast period. Packaging inks and coatings are specialized materials applied to various packaging substrates, including paper, plastic, metal, and others, to enhance their visual appeal, durability, and functionality. They adhere to strict safety and regulatory standards to ensure they are food-safe, non-toxic, and compliant with industry regulations.
Market Dynamics:

Driver:

Rising demand for food and beverage packing

As consumer preferences shift towards convenience, mobile consumption, and packaged products, there's a substantial increase in the demand for packaged food and beverage items. This surge necessitates innovative, durable, and visually appealing packaging solutions that ensure product safety, preservation, and branding. Packaging inks and coatings play a pivotal role by providing high-quality, food-safe, and compliant materials that enhance the aesthetics, shelf appeal, and functionality of food and beverage packaging. Moreover, the necessity to differentiate products, maintain freshness, and comply with food safety standards propels the need for specialized inks and coatings, thereby fostering the growth of this market segment.

Restraint:

Volatility of raw material prices

The market for packaging inks and coatings is significantly constrained by the price volatility of raw materials. The industry is primarily dependent on pigments, solvents, and different chemicals. Raw material price changes have the potential to cause disturbances to manufacturing costs, reduce profit margins, and hinder competitive pricing. Manufacturers may find it challenging to absorb abrupt cost surges, potentially resulting in elevated prices for end-users. Thus, it can reduce market demand.

Opportunity:

Booming e-commerce sector

The surge in online purchasing has increased demand for sophisticated packaging solutions. The use of inks and coatings is essential to producing packaging that is strong, safe, and attractive while withstanding shipping difficulties. Formulations that provide brand distinction, informative labelling, and tamper-resistant characteristics are necessary to meet these objectives. Leveraging this opportunity entails providing customised inks and coatings that address the unique needs of e-commerce packaging, encouraging development, and growing the market share within the sector.

Threat:

Environmental concerns

There is an increasing need for environmentally friendly, recyclable, and biodegradable packaging due to increased awareness of sustainability issues. Inks and coatings that do not align with environmentally friendly practices face reduced adoption due to concerns about their impact on ecosystems and waste management. Failure to address these concerns and offer sustainable alternatives may lead to regulatory restrictions, consumer scepticism, and market limitations.

Covid-19 Impact

The COVID-19 pandemic had both immediate and lasting impacts on the packaging inks and coatings market. Initially, there was a sudden disruption in the supply chain due to lockdowns and restrictions, causing shortages of raw materials and affecting production schedules. This led to delays in fulfilling orders and increased material costs, putting pressure on manufacturers. As the pandemic continued, consumer behaviour shifted. With more people staying at home, there was a surge in e-commerce and online shopping. Packaging for these products required robust printing and coating solutions to withstand the rigours of transportation.

The flexographic segment is expected to be the largest during the forecast period

The flexographic segment is estimated to hold the largest share. Flexographic printing is extensively used in the packaging industry. It is favoured for its ability to produce high-quality images, vibrant colours, and efficient large-volume printing for packaging materials like labels, flexible packaging, corrugated boxes, and more. Furthermore, its adaptability to different surfaces and compatibility with various inks and coatings make it a leading choice in the packaging industry, meeting diverse requirements for attractive and durable packaging designs.
The pharmaceuticals segment is expected to have the highest CAGR during the forecast period

The pharmaceuticals segment is anticipated to have lucrative growth during the forecast period. Packaging inks and coatings aid in preserving the stability and shelf life of drugs by protecting pharmaceutical products from external factors such as moisture, light, and air. They adhere to strict regulatory standards, ensuring they are safe and compliant with regulations. Moreover, these materials allow for clear and accurate printing of essential information such as dosage, usage instructions, expiration dates, and product identification. Additionally, they enable branding elements that help differentiate pharmaceutical products on the market.

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period. The need for premium, long-lasting inks and coatings that can survive the rigours of shipping is being driven by the expanding e-commerce industry. In order to address the environmental concerns of the area, manufacturers are also being encouraged by the focus on sustainable packaging solutions to create eco-friendly inks and coatings. Digital printing technologies are progressively more popular as firms value a distinctive packaging design, which is helping to propel the market's expansion in the Asia-Pacific area.

Region with highest CAGR:

Europe is expected to witness profitable growth over the projection period. Sustainability is becoming a growing concern, and eco-friendly inks and coatings are in higher demand in the region due to its strong environmental consciousness. In addition, strict laws pertaining to food safety and labelling have increased demand for safe and compliant packaging options. Technologies for digital printing are becoming more popular since they allow greater personalisation. Moreover, anti-counterfeiting features are becoming increasingly popular in the European market as a means of safeguarding consumers and brands.

Key players in the market

Some of the key players in the Packaging Inks and Coating Market include AkzoNobel N.V., FlintGroup, Spring Coating Systems, PPG Industries Inc., Sun Chemical Corporation, ALTANA, Valspar, Siegwerk Druckfarben AG & Co. KGaA, Brancher, ColorMatrix, Axalta Coatings Systems, Arkema, CROMOS TINTAS GRAFICAS, Toyo Ink, Nippon Paint, Environmental Inks and Coatings and Sakata.

Key Developments:

In March 2023, The Toyo Ink Group entered a share purchase agreement to acquire Thai Eurocoat, with the goal of becoming the leading metal coatings producer in the ASEAN canned food market, enhancing its position and capabilities in the region's packaging industry.

In October 2022, Clariant successfully completed the acquisition of BASF's U.S. Attapulgite business assets, strengthening its portfolio and presence in the specialty chemicals industry, particularly in the area of Attapulgite-based additives and minerals.

Types Covered:
• Flexible Plastic
• Metal
• Rigid Plastic
• Paper
• Other Types

Technologies Covered:
• Flexographic Printing
• Gravure Printing
• Digital Printing
• Other Technologies

End Users Covered:
• Cosmetics & Personal Care
• Pharmaceuticals
• Food & Beverage
• Industrial• Advertising
• Retail
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
JapanChinaIndiaAustralia
New Zealand
South Korea
Rest of Asia Pacific• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances