Global Packaging Coating Additives Market 2018-2023

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venynx2

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The packaging coating additives market is projected to grow from USD 688.4 million in 2018 to USD 874.5 million by 2023,additives for paints and coatings at a CAGR of 4.9% from 2018 to 2023. Increasing demand for packaged
foods is driving the growth of the packaging coating additives market.
The packaging coating additives market, by function is segmented into slip, antistatic, anti-fog, anti-block, and antimicrobial.
Antimicrobial additives are used to prevent the growth of infection and
fever-causing microorganisms such as bacteria, fungi, algae, mildew, and
other parasites. Antimicrobial additives possess characteristics such
as water repellency, solubility, and pH stability. They offer improved
mechanical properties and high dimensional and chemical stability. The
demand for antimicrobial additives is primarily triggered by the growing
consumer awareness about health-related infections and the rapid
urbanization and growing population in the Asia Pacific region.
By application, the packaging coating additives market is segmented into, food packaging, industrial packaging, healthcare packaging,
consumer packaging, and others. Industrial packaging materials such as
plastics and paper are likely to sustain damage during distribution and
logistics due to dust, fog, static energy, friction, and temperature
change. Therefore, packaging materials are coated with additives to
protect the package from damages. polymer coating These additives serve anti-fog, antistatic, slip, and anti-block
functions in industrial packaging. The consumer goods industry uses
coating additives for packaging of luxury goods as they provide
protection against scratches, abrasions, and resistance to chemicals and
microbial activities.
Asia Pacific accounts for the largest share of the packaging coating additives market. The market for packaging coating additives in Asia
Pacific is witnessing significant growth owing to the increasing demand
from the food packaging application in the region. APAC is the hub for
foreign investments and booming industrial sectors mainly because of the
low-cost labor, easy availability of raw materials, increasing adoption
of modern technologies, innovations, and easy availability of
inexpensive land. Factors such as growing middle-class population,
industrialization, rising disposable income, changing lifestyles, and
increasing consumption of packaged products are expected to drive the
food packaging industry, thus providing growth prospects to the
packaging coating additives market.
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