Albany, NY -- (SBWIRE) -- 11/13/2018 -- A recent report by ResearchMoz.us, titled, "Flexible Plastic Packaging Coating Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018–2026," finds that the market would rise at a steady 4.0% CAGR between 2018 and 2026. To unravel the figure and other crucial ones pertaining to the current and future market size, the report banked upon both current and historical figures. It also examined the growth drivers and deterrents and the competitive landscape to that end.
The report finds that demand in the global flexible plastic packaging coatings market is set to rise in the next couple of years because of its ability to offer high quality finish. It offers solid protection in numerous applications. The different end use sectors pushing up sales in the global flexible plastic packaging market are food and beverage, pharmaceuticals, and cosmetics and personal care, among others.
Among them, the flourishing food and beverage industry is responsible for maximum sales in the global flexible plastic packaging coating market. Owing to busy lifestyles and increasing spending capacity of people, as the demand for convenience and ready-to-eat food go up, demand for proper packaging materials for those are also expected to rise in tandem. Flexible plastic packaging coating helps to achieve glossy colors, graphics, and images for the final product thereby upping their attractiveness. For the very same reason, they are used for FMCGs segment as well.
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Posing a challenge to the global flexible plastic packaging coating market, on the downside, is the ban on plastics. This is egging research bodies and manufacturers to come up with alternate materials.
Having thrown light on the different growth drivers and restraints in the global flexible plastic packaging coating market, the report goes on to segment it based on different parameters. For instance, the different types of coatings available in the market are urethane and polyurethane, acrylics, and epoxies. These are seeing widespread uptake because of their ability to offer excellent finish to a range of products.
With respect to geography, the global flexible plastic packaging coatings market is spread across North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Asia Pacific flexible plastic packaging market, among them, is set to surpass most others with respect to growth pace. This is because of the growing consumerism in the large, populous and developing economies of China and India. Currently, however, Europe accounts for a leading share in the global flexible plastic packaging coatings market.
Key players in the global flexible plastic packaging coatings market that have been profiled in the report are Akzo Nobel N.V., PPG Industries, Inc., E.I. Du Pont De Nemours and Company, Koninklijke DSM N.V., and Wacker Chemie AG. Going forward, consolidation in the market is predicted to intensify pressure on them.