The packaging coating additives market is projected to grow from USD 688.4 million in 2018 to USD 874.5 million by 2023,coatings additives suppliers
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, coating additives manufacturer
friction, and temperature change. Therefore, packaging materials are
coated with additives to protect the package from damages. 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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