Functional and Barrier Coatings for Paper - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Functional and Barrier Coatings for Paper Market is accounted for $1.34 billion in 2018 and is expected to reach $2.40 billion by 2027 growing at a CAGR of 6.7% during the forecast period. Some of the key factors influencing the market growth include packaging innovations in water-based barrier coatings, Evolving lifestyle of consumers, increasing health and environmental awareness, and supportive environmental policies implemented by various governments across the globe for food contact paper. However, increasing recycling of barrier-coated paper is restricting the market growth.
Functional and barrier coatings are applied to paper with various barrier and functional materials to enhance the performance of the paper. It provides a barrier to oil, water vapours, grease, and enhance the printing capabilities of paper & paperboard products. These products are prominently used for foodservice disposables, printing, and packaging applications. Use of functional and barrier coatings for paper improves the performance and durability of paper for packaging and printing applications.
Amongst end-user, the food segment is estimated to have significant growth during the forecast period. With the global customer base for retailed food increasing, food packaging must more and more conform to international food quality and safety standards. This also can mean longer shelf life is a necessity. Increased global consumer awareness, income, combined with busier lifestyles, is creating a growing demand for convenience foods. Consumers want protective economic food packaging that offers easy open and see-through features, combined with barrier protection from degrading oxygen, water vapour, and aromas. Thus, it is inevitable for manufacturers in the functional and barrier coatings for the paper market to gain increased expertise in sustainable raw materials that prevent food wastage.
By Geography, the Asia Pacific market is expected to be the most attractive market due to the rise in end-user applications of the packaging type in the region. The functional and barrier coating for the paper market in India is anticipated to exhibit significant growth during the forecast period, attributable to the presence of a large pool of suppliers and manufacturers in the country. Moreover, Japan is continuously improving its packaging methods through diverse research and thus is regarded as one of the largest markets for functional and barrier coating for paper in the world.
Some of the key players in global functional and barrier coatings for the paper market are Cortec Corporation, BASF S.E., Sonoco Products Company, Cattie Adhesive Solutions Llc, Paramelt B.V, Synthetic Natural Polymers, Michelman, Inc., Coatings & Adhesives Corp, Dow Chemical Company, Sierra Coating Technologies LLC, CH-Polymers Oy, Koninklijke DSM NV, Omnova Solutions Inc., ALTANA Group, Stora Enso Oyj, Akzo Nobel N.V., Kuraray Co. Limited, Cork Industries, Inc., Imerys Pigments, and Mondi Corporate.
Coating Types Covered:
• Wax Coating
• Pigment Coating
• Ultra Violet (UV) Coating
• Poly Coating
• Gas Resistance
• Water Resistance
• Heat Resistance
Materials of Manufacturing Covered:
• Biodegradable Coating
• Conventional Plastic Coating
• Food Service Disposables
End Users Covered:
• Personal Care & Cosmetics
• Banking & Financial Institutions
• Homecare & Toiletries
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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