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PACKAGING

Flexible Plastic Packaging Coating Market Analysis by Type (Urethane, Soft Touch, UV-Curable, BPA Free, and Others); by Substrate (Metal, Liquid Cartons, Rigid Plastic, Paper-Based Container, Flexible Packaging, and Others); by Application (Caps & Closures, Aerosols & Tubes, Industrial & Promotional Packaging, and Others); and by End-User (Food & Beverage, Cosmetics, Pharmaceuticals, Automotive, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Amcor Limited to be presented at Global Plastic Summit by the company’s VP. The company took participation in the summit to talk about the move of the industry toward circularity.

  • Glenroy, Inc. to witness expansion in the demand for sustainable flexible packaging and also announces making the investment to expand the adhesive lamination capacity. These actions have been taken to provide better solutions for existing and new customers.

Global Flexible Plastic Packaging Coating Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~5%

Base Year Market Size (2022)

~ USD 1500 Million

Forecast Year Market Size (2033)

~ USD 5 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global flexible plastic packaging coating market is estimated to garner a revenue of ~USD 5 billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 1500 million in the year 2022. The growth of the market is primarily ascribed to rising sales and demand for snacks across the globe, followed by the massive surge in consumer goods industry. For instance, in 2022, the snack food segment was estimated to touch off revenue of approximately USD 60 billion.

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Global flexible plastic packaging coating market trends such as, skyrocketing development and manufacturing of tablets & capsules and growing food supply worldwide are projected to influence the growth of the market positively over the forecast period. For instance, the tablet segment is projected to fall to nearly USD 60 billion by 2027 while in 2021, the total shipment of tablets worldwide was estimated to be about 150 million units. Moreover, the higher utilization of skin & hair care products and exponential growth in the cosmetics industry is further expected to hike the growth of the market over the forecast period. For instance, as of 2022, the skin care segment was anticipated to generate total revenue of around USD 8 billion.

Global Flexible Plastic Packaging Coating Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Demand for Plastic Coating Packaging in Automotive Industry - The sales of automobiles across the globe were estimated to drop to around 65 million units in 2021. Automobiles have a significant demand for flexible plastic packaging coating for exterior use. The plastic coating is also referred to as polymer coating which gives an excellent finish to automobiles by enhancing their look and quality. In modern times, a huge demand for automobiles is observed resulting in higher manufacturing and distribution of these vehicles. Hence, such a higher requirement is estimated to propel the growth of the market during the forecast period.

  • Growing Development and Manufacturing of Medicines - It was estimated that in 2021, the total spending on medicines was estimated to be around USD 1.5 trillion.

  • Increasing Consumption of Toffee and Candy - As of 2021, the sales of hard sugar candy were estimated to be about USD 500 million.

  • Rising Disposable Income Across the Globe - In 2020, the disposable income per capita in OECD countries was anticipated to be about 50,000 U.S. dollars.

  • Worldwide Growth in E-commerce Industry – For instance, by the end of 2022, global E-commerce retail sales is anticipated to surpass approximately USD 4.5 trillion. It is expected to rise by more than 50% within the next four years. 

Challenges

  • Presence of Alternatives in the Market – There are numerous alternatives exist as a good and competitive alternative of flexible plastic packaging coating. Alternative packaging such as- stainless steel, natural fiber cloth, cardboard, paper, and glass are also highly efficient, ecofriendly, and less harmful for the environment, hence the presence of alternatives is anticipated to hinder the market growth.

  • Requirement for Higher Initial Investment

  • Disrupted Supply-Chain due to COVID-19

The global flexible plastic packaging coating market is segmented and analyzed for demand and supply by end-user into food & beverage, cosmetics, pharmaceuticals, automotive, and others, out of which, the pharmaceuticals segment is projected to witness noteworthy growth over the forecast period. The growth of the segment is accounted to the higher demand for flexible plastic packaging in the pharmaceutical industry. For instance, the total revenue generated by pharma in 2021 was estimated to be nearly USD 1.5 trillion.

Global Flexible Plastic Packaging Coating Market Regional Synopsis

The Asia Pacific flexible plastic packaging coating market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market in the region is ascribed to the growing utilization of cosmetic products by the population and followed by the higher demand for ready-to-eat food in the region. For instance, the total revenue generated by the cosmetic segment in India alone was estimated to reach around USD 7 billion by 2026. Hence, such factors are estimated to hike the growth of the market during the forecast period.

Market Segmentation

Our in-depth analysis of the global flexible plastic packaging coating market includes the following segments:

         By Type

  • Urethane
  • Soft Touch
  • UV-Curable
  • BPA Free
  • Others

          By Substrate

  • Metal
  • Liquid Cartons
  • Rigid Plastic
  • Paper-Based Container
  • Flexible Packaging
  • Others

          By Application

  • Caps & Closures
  • Aerosols & Tubes
  • Industrial & Promotional Packaging
  • Others

 

           By End-User

  • Food & Beverage
  • Cosmetics
  • Pharmaceuticals
  • Automotive
  • Other

Top Featured Companies Dominating the Global Flexible Plastic Packaging Coating Market

  • American Packaging Corporation

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • PPG Industries, Inc.
  • Glenroy, Inc.
  • Akzo Nobel N.V.
  • Sierra Coating Technologies LLC
  • Koninklijke DSM N.V.
  • Paramelt B.V.
  • DuPont de Nemours, Inc.
  • Amcor Limited
  • Mondi plc

 

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