Packaging Coating Additives Market

Packaging Coating Additives Market Overview 

The global packaging coating additives market size reached US$ 833.96 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,185 Million by 2032, exhibiting a growth rate (CAGR) of 4.0% during 2024-2032. 

Packaging Coating Additives Market Trends 

The packaging additives market is witnessing a shift towards protective solutions to ensure the safe transportation of goods as e-commerce continues to grow. These solutions help prevent damage and spoilage. Innovations in active packaging additives, such as antimicrobial agents and oxygen scavengers, play a role in extending the shelf life of products, addressing concerns about food waste and product deterioration. Additionally, there is a change in consumer preferences, leading to the development of aesthetic-enhancing additives that improve visual appeal and shelf presence.

Packaging Coating Additives Market

Size, by Product, - (USD Billion)

Slip

Antistatic

Anti-fog

Antimicrobial

Other Products

The Market will Grow

At the CAGR of:

4.0%

The Forecast Market

Size for in USD:

$1,185 millionB

Packaging Coating Additives Market Dynamics 

Driver 

Increasing health awareness 

The increasing occurrence of nosocomial infections and recent outbreaks of life-threatening diseases like H5N1 Avian influenza and H1N1 flu (swine flu) have led to a growing awareness of health-related issues. This has resulted in a rising demand for antimicrobial packaging additives in sectors such as healthcare and medicine. These additives possess qualities such as high antimicrobial activity, hardness, durability, and transparency, making them suitable for use in non-toxic plastic equipment. To combat hospital-acquired infections, antimicrobial additives are now being utilized in air vents to prevent the spread of communicable diseases. As consumer awareness regarding health and hygiene continues to rise, the demand for antimicrobial additives is expected to increase, consequently driving the demand for packaging coating additives. 

Restraint 

Volatility of raw material prices 

The instability in the prices of raw materials utilized in the production of packaging coating additives poses a significant challenge for manufacturers. For example, fluctuations in oil & gas prices have resulted in higher costs for raw materials needed for antistatic agents. Likewise, the varying prices of raw materials for antimicrobial additives production are a major obstacle impacting the antimicrobial additives market. Silver, copper, and zinc are the primary raw materials for antimicrobial additives, and their high costs limit the use of silver antimicrobials in certain regions like Asia Pacific and South America. The fluctuating prices of these materials hinder the growth of the packaging coating additives market. 

Opportunity 

Emerging markets creating strong growth opportunities 

Emerging economies like China, India, Indonesia, and Brazil offer significant growth potential for companies operating in the packaging coating additives market. The rapid expansion of end-use industries in these countries is projected to drive market growth. Leading players such as Clariant AG (Switzerland) and BASF SE (Germany) are strategically focusing on expanding their presence and establishing strong footholds in these promising markets. 

Challenge 

Managing plastic waste from different industries 

The packaging sector generates significant amounts of waste, posing challenges for disposal and causing harm to the environment. Plastic waste accumulation on the planet's surface has negative effects on both human life and wildlife habitats. The slow decomposition of plastic products leads to health risks for organisms in land, air, and water. The widespread use of low-cost plastics in manufacturing packaging materials, such as food & beverage packaging films and agricultural films, makes it hard for consumers to manage the resulting waste. Consequently, many countries are enforcing bans on plastic products and implementing regulations on plastic packaging, impacting the packaging industry's growth. This situation presents a major obstacle for manufacturers of packaging coating additives, as the packaging industry is a key market for these additives.

Packaging Coating Additives Market

Share, by end user, (USD Billion)

833.96 million%

Food Packaging

Industrial Packaging

Healthcare Packaging

Consumer Packaging

Other End-Users

1,185 million

Total Market Size

USD (Billion),

4.0%

CAGR

-

Packaging Coating Additives Market Segments 

Packaging Coating Additives Market Key Players 

Packaging Coating Additives Market Recent Development 

SHANGHAI, November 15, 2023 - ChinaCoat 2023 in Shanghai sets the stage for Clariant to showcase its latest solutions dedicated to more sustainable and effective formulations and coating applications that help safeguard public health and the environment.  

April 13, 2023: BASF has also done a lot about polyethylene/polyamide multilayer films: Since fall 2022, coextruded PE/PA film structures have been considered mechanically recyclable 

In April 2023, Clariant introduced AddWorks® PKG 158 additives, that bring new dimension on safety and performance for polyolefin-based packaging.

Packaging Coating Additives Market

Size, by Product, - (USD Billion)

The Market will Grow

At the CAGR of:

4.0%

The Forecast Market

Size for in USD:

$1,185 millionB

Packaging Coating Additives Market Conclusion 

In conclusion, the packaging coating additives market is poised for steady growth driven by various factors such as the increasing emphasis on protective solutions in e-commerce, innovations in active packaging additives, and evolving consumer preferences towards aesthetic enhancements. However, challenges like the volatility of raw material prices and managing plastic waste present hurdles for market players. 

Despite these challenges, there are ample opportunities, especially in emerging markets like China, India, and Brazil, where rapid industrial expansion offers significant growth potential. Key players like Clariant and BASF are strategically positioning themselves to leverage these opportunities, as evidenced by their focus on sustainable solutions and product innovations. 

Efforts to address environmental concerns, such as Clariant's initiatives showcased at ChinaCoat 2023 and BASF's advancements in recyclable film structures, demonstrate a commitment to sustainability and public health. 

Overall, the packaging coating additives market is expected to witness steady growth, driven by the convergence of innovation, sustainability, and evolving consumer demands, albeit with the need for strategic adaptation to overcome existing challenges and seize emerging opportunities.

Packaging Coating Additives Market TO (USD BN)

CAGR OF

4.0%

Packaging Coating Additives Market

1,185 million%