At 6% CAGR, Packaging Inks and Coatings Market Size Is Expected to Grow from Pharmaceuticals Industry Till 2025
Category: #business  By Partha Ray  Date: 2019-08-16
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At 6% CAGR, Packaging Inks and Coatings Market Size Is Expected to Grow from Pharmaceuticals Industry Till 2025

Packaging inks and coatings market will witness a substantial growth in the forecast period owing to increasing demand in Pharmaceuticals industry 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. 

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.

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Stringent regulations imposed regarding product use in food & beverage industry is likely to hamper the business growth over the projected timespan. In addition, the side-effects regarding the product use is prevailing in the industry which will further hinder packaging inks and coatings market size by 2024. The product manufacturers may develop organic and eco-friendly inks to comply with the regulations which is a probable opportunity for the packaging inks and coatings industry size by 2024. 

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 industry size in the coming years. 

Based on process, the packaging inks and coatings market is divided into flexographic, digital, gravure and lithographic. The flexographic process can be used to print on paper, plastics, cellophane, metal and other materials. Digital printing is an advanced process utilized in the industry which accounts for approximately 15% of the total packaging and inks coatings market size and has the potential to replace conventional methods of printing.

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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. 

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. 

 

Methodology used in the Report –

Our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:

  • Definition and scope of research
  • Market dynamics, growth drivers and industry pitfalls
  • Regulatory and political guidelines for the industry
  • Demographics and statistical data

 

 

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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