29 November 2019
The Paint Packaging Market Report 2020-2030: Forecasts by Material (Polyethylene, Metals), By Product (Cans & Pails, Pouches), By End Use (Professional, Consumer), by region and analysis of leading companies operating in this industry.
The global market size of antimicrobial powder coating is estimated to exceed USD 23 billion by 2020 and is expected to grow over the forecast period at a CAGR of more than 4.2 percent. The market for paint packaging has experienced a growing demand from the application of external paint. Exterior paints are increasingly being used to shield buildings ' exterior surfaces from harsh weather. Such paints are also gaining popularity as waterproofing agents while being commonly used for exterior walls. In addition, the availability of a wide range of exterior paints has increased demand for these items to improve buildings ' esthetic appeal. These factors demanded a wide-ranging application of packaging items globally.
Growing interest for paints globally is being witnessed as developmental activities, promoting the growth of the global paint packaging market in a positive way. Expanding R&D interests are overwhelming the development of the global paint packaging industry. In addition, rapid urbanization and growth in preferences for every day convenience goods among consumers, across the globe, is expected to support the development of the global paint packaging market during the forecast period.
Due to the rising popularity of metal cans, mainly the aerosol cans, cans & pails product segment generated the largest revenue in 2018 in the global paint packaging market. Increasing spray paint use has required large-scale cans consumption worldwide. The growing popularity of light weight packaging is one of the key factors driving demand for cans & pails. With their dissimilar advantages in the market, metal cans and plastic cans are favoured.
The most widely used materials in the production of packaging items are aluminum, steel, and nickel. Because of a multitude of factors, metals are favored over other plastic materials. Prominent factors due of which many paint manufacturers prefer metal packaging include durability and extended metal shelf life. Therefore, containers for metal packaging can be easily sterilized and therefore deliver efficient airtight packaging solutions in the industry.
Asia Pacific was the largest regional paint packaging market and represented more than 50% of the total market share in 2018. This can be attributed to the building industry's robust growth, especially China and India. Increased industrial and architectural paint use in the aforementioned countries has boosted the region's market growth.
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