The global packaging coatings market size was valued at USD 4.9 billion in 2021 and is expected to reach USD 4.6 million by 2028, at a CAGR of 5.8% during the forecast period 2022-2028. Each manufacturing process necessitates the use of packaging. Packaging is receiving special attention from manufacturers and packers in order to ensure product safety, supply chain efficiency, sales promotion, and customer convenience. As a result, packaging coatings play an important role in refining the packing process in order to achieve the above-mentioned characteristics. Packaging coatings not only improve the package process by adding protection, resistance to corrosion, and a variety of chemical properties, but they also improve the overall aesthetics of the packaging form. The expansion of packaging coatings' application areas is the key driver of market expansion. The food and beverage industry, which is a major end-use industry for the worldwide packaging coatings market, is growing as a result of globalization, living standards, and food preferences.

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In the future years, the worldwide packaging coatings market is expected to rise due to the expanding scope of packaging in various products, particularly in the consumer products and food and beverage industries. Packaging coatings are increasingly being used by businesses, particularly in the food and beverage industry, to protect original quality and taste while also preventing contamination. On the other side, the worldwide packaging coatings market is projected to be restrained in the coming years by strict government laws and regulations, particularly in the area of food and beverage packing. Furthermore, rising concern and awareness about the side effects of chemicals used in can and bottle coatings both between manufacturers and end users is expected to stifle the global packaging coatings market's expansion in the approaching years. The rise in PET bottle usage and production is expected to be a major growing segment for the worldwide packaging coating industry.

The global Packaging Coatings Market segmentation:

1)By Substrate: Plastic, Metal, Paper, Glass.

2)Resin: Epoxy, Acrylic, Polyurethane, Polyester.

3)Formulation: Water-Based, Solvent-Based, Radiation-Cured, Powder-Based.

4)Application: Beverage, Food Products, Caps and Closures, Monobloc and Tubes.

Due to the extreme rise in food packaging methods, particularly in the can segment, North America is expected to be the major market for global packaging coatings. Due to increased need and popularity for packaging coatings in the packaged food and consumer products industries in Asia, the global packaging coatings market is expected to rise significantly in the near future.

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Some of the major key players operating in packaging coatings market are Valspar, PPG Industries, AkzoNobel, Wacker Chemie AG, Lubrizol, Jamestown Coating technologies, BASF SE, Sun Coating Company, Star LaminatorsInc., Mantrose-Haeuser Co.Inc.

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