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Emulsion Polymer Market to Hit $46.2 Billion by 2032
What's Trending in Emulsion Polymer Market?
- Keep Yourself Up-To-Date With The Latest Market Trends.
The global Emulsion Polymer Market was valued at USD 30.5 Billion in 2024 and it is estimated to garner USD 46.2 Billion by 2032 with a registered CAGR of 6.1% during the forecast period 2024 to 2032.
Firstly, the Market report for Emulsion Polymer Market describes the current state of the companies and recommends where it is likely to go next. The report shows the production, revenue, price, market share, and growth rate of each type, mainly divided into Product Types and Product Applications etc.
Additionally, this market report focuses on offering key business measures such as real market moves, market size, qualities, and freedoms, as well as forecast opportunities. This Emulsion Polymer Market report also offers distinctive insights into wealthy regions such as Europe, North America, the Middle East, Africa, and Latin America.
Get a Sample Copy of the Emulsion Polymer Market Report at: https://www.vantagemarketresearch.com/emulsion-polymer-market-2127/request-sample
Top Competitors:
Synthomer (UK), OMNOVA Solutions (U.S.), Allnex GMBH (Germany), Arkema (France), DIC CORPORATION (Japan), BASF SE (Germany), Celanese Corporation (U.S.), Wacker Chemie AG (Germany)
This market report has all the information you need to start or grow your business in the industry. It also includes market drivers, restraints, competitiveness, and geographic estimates, as well as a price and emerging market structure. It is a complete description of a company's business model, benchmarks, consumer preferences, value proposition, and net profit. This comprehensive Emulsion Polymer Market study also sheds light on key techniques that help companies truly assess their customers' buying behavior.
It represents global economic trends between 2024 and 2032. With the help of this market research, top companies can easily make smarter financial decisions. This market analysis is an excellent technique to help companies implement new products. It also includes critical data on major industry topics, including market expansions and evolving market conditions.
This well-researched Emulsion Polymer Market report describes the negative impact COVID-19 is having on various companies and offers companies recommendations on how to recover from the damage suffered by the outbreak as well as the nationwide quarantine. The plan analyzes the company's expectations and priorities, as well as the delivery of all crucial data.
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This report analyzes key market segments by type, application, and geography. The geographic analysis section covers key regions such as Europe, North America, the Middle East, Africa, and the Asia-Pacific region.
This Emulsion Polymer Market report not only provides valuable data but outlines key goals, pricing strategies, and approaches to help market participants' recommendations in this report will make accelerating economic growth easy. It offers some specific tips and business-related data to help new competitors in the market grow their businesses and diversify their product lines. Companies in the industry should choose tactics that include new product launches, mergers, and partnerships to survive in the competitive marketplace and strengthen their position.
Regional Analysis
-North America [United States, Canada, Mexico]
-South America [Brazil, Argentina, Columbia, Chile, Peru]
-Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
-Middle East & Africa [GCC, North Africa, South Africa]
-Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
The quantitative information in this Emulsion Polymer Market analysis helps predict future sales and market penetration. This type of information is based on statistics. The qualitative information provided here will greatly help the key players understand the buyer's opinion of your brand. Improving business goals becomes easy with the information provided in this report.
The industries can draw some conclusions about their original goals. In business. This Emulsion Polymer Market research helps you make assumptions about your competition, customers, and the market in order to make informed business decisions. Additionally, it forecasts the competition in the market for the estimated period of 2024-2032. Effective decision-making in companies leads to business growth and is made possible by this precise market study.
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Some of the Key Questions Answered in this Report:
Which are the five top players of the Emulsion Polymer Market?
How will the Emulsion Polymer Market change in the upcoming years?
Which product and application will take a share of the Emulsion Polymer Market?
What will be the CAGR and size of the Emulsion Polymer Market throughout the forecast period?
What are the drivers and restraints of the Emulsion Polymer Market?
Which regional market will show the highest growth?
What is the current industry size, what will the market size be in 2030 and what will the growth rate be?
Who are the major competitors and what is their strategy?
What are the challenges to grow in the industry?
What are the market opportunities and challenges faced by the key vendors?
What are the barriers to entry for new players in the Emulsion Polymer industry?
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#Emulsion Polymer Market#Emulsion Polymer Market 2024#Global Emulsion Polymer Market#Emulsion Polymer Market outlook#Emulsion Polymer Market Trend#Emulsion Polymer Market Size & Share#Emulsion Polymer Market Forecast#Emulsion Polymer Market Demand#Emulsion Polymer Market sales & price
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Coating Resins: The Backbone of Modern Industrial Finishes
The global coatings resins market is expected to witness a steady growth trajectory over the forecast period of 2022-2028. According to the report, the market was valued at around USD 41 billion in 2022 and is projected to reach USD 60 billion by 2028, growing at a compound annual growth rate (CAGR) of 5.5%.
What are Coatings Resins?
Coatings resins are key components used in the formulation of paints, coatings, and varnishes. These materials act as binders that help provide adhesion, durability, and protection to surfaces. Coatings resins are used in a wide range of industries including construction, automotive, packaging, and industrial applications, where surface protection and aesthetic enhancement are critical.
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Market Dynamics and Growth Drivers
The global coatings resins market is being propelled by several factors:
Rising Demand in Construction and Automotive Sectors: With increasing urbanization and infrastructure development, the construction sector is driving demand for protective coatings. The automotive industry is also a key user of coatings resins, requiring durable finishes that offer corrosion protection and enhance aesthetic appeal.
Technological Advancements: The development of environmentally friendly coatings, such as water-based and powder coatings, is boosting market growth. These innovations meet stringent regulatory requirements and address concerns related to volatile organic compounds (VOCs), making them highly sought after in various industries.
Growth in Industrial Applications: Coatings resins are widely used in industrial machinery, equipment, and marine applications, where protective and anti-corrosion properties are essential. The demand for high-performance coatings in these sectors is expected to further drive the market.
Sustainability Initiatives: The coatings industry is seeing a shift toward sustainable products, with manufacturers focusing on eco-friendly and biodegradable coatings resins. Increasing consumer awareness of environmental issues is leading to higher demand for resins that contribute to greener solutions.
Regional Analysis
North America: The North American market is driven by strong demand from the automotive and construction industries. The U.S. is a major consumer of coatings resins, particularly due to the focus on infrastructure development and renovation activities.
Europe: Europe is a mature market for coatings resins, with high demand in countries like Germany, France, and the U.K. Stringent environmental regulations regarding VOC emissions are driving the adoption of water-based coatings, promoting growth in the region.
Asia-Pacific: The Asia-Pacific region is expected to witness the highest growth during the forecast period. Countries like China and India are experiencing rapid industrialization and urbanization, leading to increased demand for coatings resins in construction, automotive, and industrial applications.
Latin America and Middle East & Africa: These regions are also experiencing growth, driven by expanding construction activities and investments in infrastructure development. The rise of the automotive sector in Latin America, coupled with industrial growth, is boosting demand for coatings resins.
Competitive Landscape
The global coatings resins market is highly competitive, with major players focusing on product innovation and sustainability to maintain their market position. Key companies include:
BASF SE: A leading producer of coatings resins, known for its extensive range of products catering to diverse industries.
The Dow Chemical Company: A key player offering high-performance coatings resins, with a focus on sustainable solutions.
Arkema Group: Known for its innovative product offerings, particularly in the field of eco-friendly and high-performance resins.
Allnex: A global leader in industrial coating resins, offering a wide range of solutions for automotive, industrial, and construction applications.
Covestro AG: Specializes in sustainable coatings resins with a focus on reducing environmental impact while enhancing product performance.
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Challenges and Opportunities
Regulatory Compliance: One of the main challenges for the coatings resins market is adhering to stringent environmental regulations, particularly regarding VOC emissions. However, this challenge also presents an opportunity for manufacturers to develop low-VOC and eco-friendly solutions, which are increasingly in demand.
Raw Material Price Volatility: The fluctuating prices of raw materials, such as crude oil derivatives, can impact production costs and profitability. Manufacturers are focusing on improving operational efficiency and exploring alternative raw materials to mitigate this challenge.
Growth in Emerging Markets: Emerging economies in Asia, Latin America, and Africa present significant growth opportunities due to increased industrialization and infrastructure development. Manufacturers are expanding their presence in these regions to capitalize on rising demand for coatings resins.
Conclusion
The global coatings resins market is poised for steady growth, driven by technological advancements, rising demand in key industries, and increasing focus on sustainability. With a projected value of USD 60 billion by 2028 and a CAGR of 5.5%, the market offers numerous opportunities for innovation and expansion. As industries continue to evolve, coatings resins will play a critical role in providing high-performance, eco-friendly solutions across various applications.
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Cross Linking Agents Market projected to reach $13.6 billion by 2028
The report "Cross Linking Agents Market by Chemistry (Amino, Amine, Amide, Aziridine, Isocyanate, Carbodiimide), Application (Decorative, Industrial (Transportation Coatings, Industrial, Protective Coatings, Marine Coatings), & Region - Global Forecast to 2028", is projected to reach USD 13.6 billion by 2028, at a CAGR of 6.5% from USD 9.9 billion in 2023.
The Cross Linking Agent market is mainly driven by the factors including the demand for high-performance materials, increasing applications across industries, emphasis on sustainability, and advancements in technology and research.
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“Amine chemistry segment is projected to grow at third fastest CAGR, in terms of value, during the forecast period.”
Amines offer excellent cross-linking capabilities and compatibility with a wide range of polymers, making them ideal for various applications. Their strong bonding properties and ability to improve mechanical and thermal properties of materials drive their demand. Additionally, the rising focus on sustainability and the development of eco-friendly formulations using amines as cross-linking agents further contributes to the growth of this segment in the market.
“Industrial application segment is expected to lead the Cross Linking Agent market during the forecast period, in terms of value.”
The growth of the Industrial application segment in the cross-linking agents market is attributed to several key factors. Industries such as automotive, construction, electronics, and packaging demand cross-linked materials to enhance product performance and durability. Cross-linking agents provide improved mechanical properties, resistance to chemicals and weathering, and increased lifespan of industrial products. Stringent regulations and standards regarding product quality and reliability in industrial applications further drive the demand for cross-linking agents. Additionally, the growing focus on sustainable and eco-friendly solutions in the industrial sector fuels the adoption of cross-linking agents that offer reduced environmental impact. These factors collectively contribute to the rapid growth of the Industrial application segment in the cross-linking agents market.
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“Asia Pacific is expected to be the fastest growing market for Cross Linking Agents during the forecast period, in terms of value.”
The region's robust industrial and manufacturing sectors, particularly in countries like China, India, and Japan, drive the demand for cross-linking agents across various industries such as automotive, construction, electronics, and packaging. Moreover, rapid urbanization, infrastructure development, and increasing disposable incomes in the region contribute to the rising demand for high-performance materials that utilize cross-linking agents. Additionally, favorable government initiatives, investments in research and development, and a shift towards eco-friendly and sustainable solutions further stimulate the market's growth in the Asia Pacific region, solidifying its position as the largest and fastest-growing market for cross-linking agents.
New product launches, acquisitions, investments, and expansions are the major growth strategies adopted by the key players in the market. The key global players in the Cross Linking Agents market include BASF SE (Germany), Covestro AG (Germany), Allnex Group (Germany), Evonik Industries (Germany), Hunstman Corporation (US), Aditya Birla Corporation (India), Wanhua Chemicals Group Co. Ltd (China), The Dow Chemical Company (US), DSM Coatings Resins (China), and Ineos (UK).
#CrossLinkingAgents#ChemicalIndustry#PolymerScience#MaterialScience#IndustrialChemicals#AdhesiveTechnology#CoatingIndustry#Manufacturing#MarketTrends#InnovativeMaterials#ChemicalEngineering#ResinTechnology#AdvancedMaterials#ChemicalMarket#PolymerChemistry
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OEM Coating Market to Gain Value of USD 116.6 Billion by 2031
The global OEM coating market was estimated to have acquired US$ 79.0 billion in 2022. It is anticipated to register a 4.6% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 116.6 billion.
Continuous research and development efforts in materials science and nanotechnology are leading to the development of advanced coatings with improved performance characteristics.
The integration of digital technologies in manufacturing and coatings processes, such as automated quality control and IoT enabled systems, can improve efficiency and product quality, driving growth.
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Key Findings of the Market Report
The rise of electric vehicles presents an opportunity for specialized coatings, as EV manufacturers often prioritize lightweight and corrosion resistant materials, which require specific coatings.
The development of smart coatings, which can respond to environmental changes or have functional properties like self-healing or self-cleaning, is an emerging trend that can create new opportunities for OEM coatings.
The healthcare sector relies on specialized coatings for medical devices and equipment. The aging population and advances in medical technology are driving growth in this segment.
The eCommerce boom has led to increased demand for protective coatings for packaging materials, especially to prevent damage during shipping.
Market Trends for OEM Coatings
The automotive sector is one of the largest consumers of OEM coatings. There is a growing demand for high performance coatings that offer protection, aesthetics, and environmental benefits, as global vehicle production continues to rise.
Advancements in coating technologies, such as the development of low volatile organic compounds coatings, have gained prominence due to increasing environmental regulations and consumer demand for sustainable products.
The expansion of aerospace industry, driven by increased air travel and defense spending, presents opportunities for specialized coatings to enhance the performance, durability, and safety of aircraft components.
The proliferation of electronics, including smartphones, tablets, and laptops, continues to drive the demand for protective coatings to safeguard sensitive electronic components.
Global Market for OEM Coating: Regional Outlook
Various reasons are propelling the growth of the OEM coating market in different regions. The regions include,
Asia Pacific
Asia Pacific is a major hub for automotive production and sales. The growing middle class population and increasing disposable income in the region are driving higher demand for vehicles, which, in turn, increases the need for automotive coatings.
The Asia Pacific region is a global leader in electronics manufacturing. Coatings are used in electronic devices to protect sensitive components and enhance their performance.
North America
The construction industry in North America, particularly in the United States, is experiencing robust growth. Coatings are widely used in architectural applications for protection and aesthetics in residential and commercial buildings.
The aerospace and defense industries are significant consumers of high performance coatings for aircraft, missiles, and other defense related equipment.
Global OEM Coating Market: Key Players
The following companies are well known participants in the global OEM coating market:
The Lubrizol Corporation
BASF SE
Kao Corporation
PPG Industries, Inc.
Hempel A/S
Jotun A/S
The Sherwin-Williams Company
Akzo Nobel N.V
Nippon Paint Holdings Co., Ltd
KANSAI HELIOS Group
Carboline
SilcoTek
Allnex GMBH
Others
Global OEM Coating Market Segmentation
Chemistry
Layer
Technology
Application
End Use
Region
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Asia-Pacific Metal Packaging Coatings Market - Forecast(2024 - 2030)
Asia-Pacific Metal Packaging Coatings Market Overview
Asia-Pacific Metal Packaging Coatings Market size is forecast to reach US$1,990.4 million by 2027, after growing at a CAGR of 7.3% during 2022-2027. The preference for metal food & beverage containers in the Asia-Pacific region has been increasing rapidly, owing to its range of benefits such as better product protection, durability, sustainability, affordability, light-weight, and more in comparison to other types of packaging. The development of new coating technologies which include Bisphenol A non-intent (BPA-NI) coatings are further fueling the growth of the market in the Asia-Pacific region. Moreover, increasing demand for metal packaging coatings from the pharmaceutical industry are further accelerating the growth of the market in the Asia-Pacific region. Also, strict regulations regarding the use of plastics in various countries across the Asia-Pacific region along with increasing product launches and developments associated with metal packaging is expected to increase the demand for metal packaging coatings for use in various end-use industries over the forecast period.
Covid-19 Impact
The COVID-19 outbreak led to major economic problems and challenges for the food & beverage, pharmaceutical, cosmetic, and other industries in the Asia-Pacific region. According to the International Monetary Fund (IMF), the GDP growth of the Asia declined by 1.3% and Australia by 2.4% as indicated in the graphs, owing to the economic impact of COVID-19. The governments all across the Asia-Pacific region announced strict measures to slow the spread of the coronavirus and only the production of essential commodities were allowed, which impacted the non-essential commodity industries, thereby impacting the production of metal packaging coatings as well. However, economic stimulus packages allotted for multiple sectors in the Asia-Pacific region and the start of industrial production activities since 2021 is improving the metal packaging coatings market growth in the Asia-Pacific region by its increasing utilization in various industries.
Report Coverage
The report: “Asia-Pacific Metal Packaging Coatings Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Asia-Pacific metal packaging coatings industry.
By Packaging Types: Food (2 piece and 3 piece), Caps & Closure (External and Internal), and General Line (External and Internal) By Coating Types: Water based, Solvent based, and Powder based. By Resins Type: Acrylic, Fluoropolymer, Urethanes, Epoxy (BPA and Non-BPA), Amines, and Others. By Application: Food (Sea Food, Meat, Infant Nutrition & Dairy, Vegetables, Catering, Biscuits, Cookies & Confectionary, Fats & Oils, Toppings, and Others), Pharmaceutical, Cosmetics, Personal Care, and Others. By Country: China, Japan, Thailand, Vietnam, India, Indonesia, Malaysia, and Rest of Asia-Pacific.
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Key Takeaways
China dominated the Asia-Pacific Metal Packaging Coatings Market in the year 2021. One of the key drivers driving the market is increasing use of metal packaging in food products such as fruits, vegetables, infant nutrition & dairy, bakery, and other similar products in order enhance the durability of metal packaging.
Increasing product launches for phenolic resins that are primarily used in a wide range of metal packaging coatings employed in food, pharmaceuticals, and other applications which require a smooth, durable, and spotless finish, has driven the market growth. For instance, In June 2020, companies such as Allnex GMBH, which has its presence in the Asia-Pacific region launched its new eco-friendly phenolic resin for use in BPAni application for metal packaging coatings.
Strict environmental regulations are driving metal packaging coating manufacturers in the Asia-Pacific region to adopt environmentally conscious practices, thus, the demand for water-based coatings are increasing significantly in the region.
Asia-Pacific Metal Packaging Coatings Market Segment Analysis – By Coating Types
The water based coating segment held the largest share in 2021 and is expected to grow at a CAGR of 8.2% by 2027. Water-based coating is an environmentally friendly surface treatment that disperses the resin used in the coatings using water as a solvent. They have a high degree of flexibility and reduce moisture and solar radiation absorption, thereby, resulting in fewer solvent emissions. The VOC (Volatile Organic Compounds) content in the water-based coating is significantly low, and since there are regulations restricting the high VOC content in Asia-Pacific is resulting in its increasing adoption by metal packaging coating manufacturers based in the region. For instance, in 2021, China launched its 14th Five-Year Plan, the chemical sector refocused its environmental protection goals on low-carbon transformation and comprehensive control of VOC emissions, as well as a considerable emphasis on encouraging low VOC products. Furthermore, as compared to solvent-based coatings, water-based coatings for metal packaging require less coating to cover the same surface area, cost less, and do not require any additives, thinners, or hardeners because they provide higher adherence. Thus, water-based barrier coatings are utilized to protect the metal packaging from external and internal effects by sealing the substrate surface.
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Asia-Pacific Metal Packaging Coatings Market Segment Analysis - By Application
Food sector held the largest share with 66% in the Asia-Pacific Metal Packaging Coatings Market in 2021 and is anticipated to grow at a CAGR of 7.4% during the forecast period 2022-2027. Metal packaging cans, containers, tins, and more are utilized for the packaging of the food because these types of packaging maintain the food filling's flavors and nutritional content ranging from months to several years. However, the direct contact between the metal packaging and food content filled inside the cans and other types of packaging are not safe. The direct contact between metal and food can degrade the food content, owing to this food-friendly coating are applied to safeguard the packaged food from corroding metal. The shifting the focus of Asia-Pacific packaging manufacturers from plastic to metal is expected to drive up the demand for metal packaging coatings for food cans. This is further projected to expand the market growth in the Asia-Pacific region. According to UACJ Corporation, between 2019 and 2022, global demand for aluminium used in cans will rise 11% to 6.61 million tons per year. Southeast Asian countries are likely to account for half of that demand, according to the report. Thus, rising demand for cans will accelerate the production for aluminium cans, which further benefits the metal packaging coatings demand.
Asia-Pacific Metal Packaging Coatings Market Segment Analysis – By Country
China dominated the Asia-Pacific Metal Packaging Coatings Market in terms of revenue with a share of 59% in 2021 and is projected to dominate the market during the forecast period (2022-2026). In China, the metal packaging coatings market is fueled by the growth of the country’s food & beverage sectors. For instance, according to the China Chain Store & Franchise Association, China’s food and beverage sector was valued at around US$ 595 billion in 2019, an increase of 7.8% in comparison to 2018. Metal cans offer a range of benefits such as better food protection, durability, sustainability, affordability, light-weight, and more in comparison to other types of packaging such as paper or plastic packaging. In August 2020, ORG technology, the Chinese manufacturer of food cans, launched its white paper on the strategic development of food cans. The company focused on coated iron metal cans with moisture-proof, environmental protection, safety, corrosion resistance, anti-extrusion, and other characteristics to gain traction in the market. In this way, such increasing food production along with the development of food cans in China, owing to its various benefits as mentioned above, is expected to increase the demand for metal packaging coatings to further enhance the durability of such food cans. This is expected to accelerate the growth of the market in China during the forecast period.
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Asia-Pacific Metal Packaging Coatings Market Driver
Increasing Preference for Metal Containers in Food & Beverage Sector
Metal packaging coatings are primarily used to coat different metals such as steel, aluminum, tin-plate, and more that are used for food & beverage packaging in order to enhance its ability to resist corrosion. Metal containers offer a range of benefits such as better product protection, durability, sustainability, affordability, light-weight, and more in comparison to other types of packaging such as paper or plastic packaging. For instance, vegetables, fruits, pet food, soups, and meats are often packaged in metal cans. Canning foods help prolong their shelf life and can help people afford to make healthy dietary choices. Similarly, soda, beer, and even wine are usually packaged in aluminum cans since aluminum beverage cans are the most recycled category for aluminum products, with nearly 50 percent of all cans recycled annually. Thus, all of these benefits of metal containers are driving its demand over other types of packaging. As a result, many companies in the Asia-Pacific region have begun packaging their food & beverages in metal containers. For instance, in February 2021, Responsible Whatr, a brand based in India, launched spring water in aluminum beverage cans made by Ball Corporation, a leading manufacturer of aluminum packaging. The company intends to create a brand that signifies sustainability and become a significant contributor to the circular economy. In July 2020, Showa Aluminum Can Corporation (SAC), metal packaging manufacturer, launched its third aluminum can manufacturing facility in Vietnam with an overall plant capacity of 1.3 billion cans per year in order to meet the growing demand for metal packaging from the food & beverage sectors of the country. Thus, such increasing preference and use of metal containers in the Asia-Pacific region are expected to increase the demand for metal packaging coatings to further enhance the durability of the metal containers, thus, accelerating the growth of the market in the Asia-Pacific region.
Growing Demand from the Pharmaceutical Industry
Metal packaging coatings are primarily used in the pharmaceutical industry in order to provide protection to the metal from atmospheric corrosion and support decoration, labeling, and consumer information. Its range of benefits such as impermeability to light, moisture, gases, and water, durability, light-weight, and ease of printing labels directly onto the metal surface make them ideal for use in the pharmaceutical industry. Thus, an increase in pharmaceutical production in the Asia-Pacific region is expected to drive the market growth during the forecast period. According to Vietnam’s Ministry of Health, the pharmaceuticals industry is expected to grow at the rate of 10% per year from 2017 to 2028, owing to an increase in pharmaceutical production and sales in the country. Also, according to International Trade Administration, the local pharmaceutical production in Japan reached up to US$59,958 in 2017, US$62,570 in 2018, US$87,027 in 2019, and US$84,600 in 2020 respectively. thus, indicating an increase in pharmaceutical production in Japan per year. An increase in pharmaceutical production is expected to drive the demand for metal packaging coatings in the pharmaceutical industry, thus accelerating the growth of the market in the upcoming years.
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Asia-Pacific Metal Packaging Coatings Market Challenges
Volatility of Raw Material Prices
Primary raw materials including resins, solvent, and more used in the production of metal packaging coatings are derived from crude oil. As a result, fluctuations in the prices of crude oil in the Asia-Pacific region may hinder the growth of the market. For instance, India’s Crude Oil Basket (COB) reached US$19.90 per barrel, which was the lowest record since February 2002. During the first 11 months of the year 2020-21, the average annual price of India’s COB was around US$42.72 per barrel, which decreased by 30% than the average COB price in 2019-20. Likewise, as per revised estimates for 2020-21, the COB has increased by around 35% from its initial budget estimate. Since October 2021, Vietnam has also witnessed a spike in demand for crude oil. According to the oil price, the price of light crude oil exceeded US$94.38 per barrel in February 2022, an increase of 3.63% that is equivalent to US$3.3, the highest record since November 2014. Similarly, the price of Brent crude oil also increased and reached up to US$95.39 per barrel, an increase of 1.98% which is equivalent to US$1.85.
Asia-Pacific Metal Packaging Coatings Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Asia-Pacific Metal Packaging Coatings Market. Asia-Pacific metal packaging coatings top 10 players include:
The Sherwin Williams Company
PPG Industries Inc.
AkzoNobel N.V.
Kansai Paint Co., Ltd.
Altana AG (Actega)
Henkel AG & Co. KGaA
Axalta Coating Systems Ltd.
Eason & Co.
Toyochem Co., Ltd.
Kangnam Jevisco Co., Ltd. and Others.
Recent Developments
In June 2021, AkzoNobel has invested in research and development activities associated with packaging coatings. The research is primarily focused on development of a new, and recyclable coating through use of bio-derived polyelectrolytes. These polyelectrolytes are 100% natural and are extracted from shrimp shells or waste from the wood processing industry. The versatility of natural polyelectrolytes will allow the company to become less dependent on synthesized polymers for packaging coatings.
In May 2021, ALTANA completed its acquisition of the closure materials business of Henkel group, a chemical and consumer goods manufacturing company with a strong regional presence in the Asia-Pacific region. Within the ALTANA Group, the business will be integrated into the ACTEGA division and globally assigned to the metal packaging solutions business line including the Asia-Pacific region. The main objective of this acquisition is to strengthen the company’s focus on innovative specialty chemicals.
In March 2021, Toyochem launched a new line of Bisphenol A non-intent (BPA-NI) internal coatings for metal beverage bottles and cans. These coatings are based on acrylic emulsion and polyester resins. The new BPA-NI internal sprays and coil coatings for stay-on tab (SOT) ends are specially formulated to achieve the required performance results, while addressing BPA-related health and food safety concerns from regulators and consumers in the Asia-Pacific region and worldwide.
#Asia-Pacific Metal Packaging Coatings Market#Asia-Pacific Metal Packaging Coatings Market Share#Asia-Pacific Metal Packaging Coatings Market Size#Asia-Pacific Metal Packaging Coatings Market Forecast
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Exploring the Booming Waterborne Polyurethane Market
Overview and Scope Waterborne polyurethane refers to a polyurethane polymer resin that can be dispersed in water. It has good adherence to numerous surfaces, including glass and polymeric fibres, and can be formed into coatings and adhesives.
Sizing and Forecast The waterborne polyurethane market size has grown strongly in recent years. It will grow from $5.07 billion in 2023 to $5.41 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to government investments in research and development, environmental regulations, market demand shift, advancements in formulation, industry adoption..
The waterborne polyurethane market size is expected to see strong growth in the next few years. It will grow to $6.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to consumer preferences for eco-friendly products, collaboration with industries, customization, impact of covid-19 pandemic, supply chain restrictions, manpower & equipment shortage.. Major trends in the forecast period include brand reputation and consumer awareness, energy efficiency, market penetration strategies, global economic trends, focus on health & safety..
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Segmentation & Regional Insights The waterborne polyurethane market covered in this report is segmented –
1) By Type: Polyurethane Emulsion, Polyurethane Dispersion, Polyurethane Aqueous Solution 2) By Application: Coating, Sealant, Adhesive, Elastomer 3) By End-use industry: Building and construction, Automotive and transportation, Bedding and furniture, Electronics, Other End Users
Asia-Pacific was the largest region in the waterborne polyurethane market share in 2023. The regions covered in the waterborne polyurethane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth The growth of the construction industry is expected to propel the growth of the waterborne polyurethane market going forward. The construction sector is involved in building infrastructure such as houses, buildings, bridges, and so on. Waterborne polyurethane coatings are used for both floor and wall coatings in various newly constructed buildings as a protective layer for abrasion resistance, weathering resistance, and chemical resistance, thereby increasing the demand for the waterborne polyurethane market. For instance, according to data by The Construction Index, a UK-based publisher of construction sector information, construction output increased by 1.7% in volume terms in March 2022 in comparison with February data in the UK. The rise in repair and maintenance (3.0%) and new work (1.0%) activity drove the increase in monthly construction production in March 2022. Therefore, the growth of the construction industry is driving demand for the waterborne polyurethane market.
Key Industry Players Major companies operating in the waterborne polyurethane market report are Covestro AG, Koninklijke DSM NV, BASF SE, Allnex Belgium SA, Dow Inc., H.B. Fuller Company, Wanhua Chemical Group Co. Ltd., SNP Inc., Kamsons Chemicals Pvt. Ltd., Axalta Coating Systems Ltd., The Sherwin-Williams Company, Perstorp AB, C.L Hauthaway & Son Corporation, Lamberti S.p.A., Sun Polymers International Inc., R. STAHL GmbH, Chemtura Corporation, Lanxess AG, Lubrizol Corporation, Bayer MaterialScience AG, PPG Industries Inc., Capital Resin Corporation, Walter Wurdack Inc., Palmer Holland Inc., SIWO US Inc., Brilliant Group Inc., Aditya Birla Chemicals Ltd., Hauthaway Corporation, Henkel AG & Co. KGaA, Huntsman Corporation, Nippon Polyurethane Industry Co. Ltd.
The waterborne polyurethane market report table of contents includes: 1. Executive Summary 2. Market Characteristics 3. Market Trends And Strategies 4. Impact Of COVID-19 5. Market Size And Growth 6. Segmentation 7. Regional And Country Analysis . . . 27. Competitive Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis
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Polymer Dispersions Market Size, Share, Trends, Global Demand, Growth and Opportunity Analysis
"Polymer Dispersions Market business report provides a profound overview of product specification, technology, product type and production analysis considering major factors such as revenue, cost, and gross margin. The data and information collected to generate this top-notch market report has been derived from the trusted sources such as company websites, white papers, journals, and mergers etc. Polymer Dispersions Market report includes basic, secondary and advanced information related to the global status, recent trends, market size, sales volume, market share, growth, future trends analysis and segment.
With the complete understanding of business environment that is best suitable for the requirements of the client, Polymer Dispersions Market business report has been generated. Businesses can also achieve insights into profit growth and sustainability programs with this market report. Market drivers and market restraints explained in this report gives idea about the rise or fall in the consumer demand for the particular product depending on several factors. This market document contains all the company profiles of the major players and brands. Each of the topics is properly elaborated with the in-depth research and analysis for generating an absolute Polymer Dispersions Market survey report.
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Data Bridge Market Research analyses the polymer dispersions market will exhibit a CAGR of 8.60% for the forecast period of 2022-2029 and is expected to reach the USD 17.91 billion by 2029.
Table of Content:
Part 01: Executive Summary
Part 02: Scope of the Report
Part 03: Global Polymer Dispersions Market Landscape
Part 04: Global Polymer Dispersions Market Sizing
Part 05: Global Polymer Dispersions Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
Polymer Dispersions Key Benefits over Global Competitors:
The report provides a qualitative and quantitative analysis of the Polymer Dispersions Market trends, forecasts, and market size to determine new opportunities.
Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
Top impacting factors & major investment pockets are highlighted in the research.
The major countries in each region are analyzed and their revenue contribution is mentioned.
The market player positioning segment provides an understanding of the current position of the market players active in the Personal Care Ingredients
Some of the major players operating in the polymer dispersions market are Allnex GMBH, Alberdingk Boley, DIC CORPORATION, Basf SE, B I P (Oldbury) Ltd., Chase Corp, Coim Group, Covestro AG, DuPont, Eastman Chemical Company, Evonik Industries AG, Huntsman International LLC, ICAP-SIRA CHEMICALS AND POLYMERS S.P.A., Kamsons Chemicals Pvt. Ltd., LANXESS, Michelman, Inc., Mitsui Chemicals, Inc., The Lubrizol Corporation, Hexion, Vinavil S.p.A., Solvay, synthomer plc, Dow, and Wacker Chemie AG among others.
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#Polymer Dispersions Market Size#Share#Trends#Global Demand#Growth and Opportunity Analysis#market research
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Melamine Market : A Look at the Industry's Growth Drivers and Challenges
The global melamine market size is expected to reach USD 2,578.4 million by 2030 according to a new study by Polaris Market Research. The report “Melamine Market Share, Size, Trends, Industry Analysis Report By Type; By Application; By End-Use (Construction, Automotive, Chemical, Textiles, Others); By Region, Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Melamine is a natural chemical that is frequently mixed with formaldehyde to generate this resin, a synthesized material that is fire and heat-resistant. Increasing the application of products for flooring, whiteboards, flame retardant materials, tableware, and industrial filters is expected to boost the product demand over the forecast period.
Furthermore, a rise in investments in research & development, as well as a growth in need from developing markets, are expected to generate lucrative possibilities for the industry throughout the projection period. The construction end-use segment is expected to hold the largest industry share over the forecast period due to increasing global construction activities. Increasing demand for construction applications including laminates, wood adhesives, surface coatings, concrete plasticizers, molding compounds, and others are expected to fuel the segment growth.
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Asia Pacific is expected to dominate the global industry over the forecast period due to increasing construction activities, growth in the automobile sector, along increasing disposable income of people. The demand in Europe is expected to increase over the forecast period due to the increasing demand for decorative wood panels along with the growth in the automotive industry in Germany.
Key players of the market include BASF SE, Allnex Belgium S.A., Borealis AG, Chemiplastica SP, Grupa Azoty Zaklady Azotowe Pulawy S.A. (ZAP), Cornerstone Chemical Company, Henan Zhongyuan Dahua Group Co Ltd., Haohua Junhua Group Co., Ltd., Methanol Holdings (Trinidad) Limited, Mitsui Chemicals Inc, Nissan Chemical Industries. Ltd., Mevion Medical Systems, Sichuan Golden Elephant Chemical Co, Sichuan Chemical Holdings Co. Ltd., and Xinji Jiuyuan Chemical Co. Ltd.
Polaris Market Research has segmented the melamine market report on the basis of type, application, end-use, and region:
Melamine, Type Outlook (Volume - Kiloton, Revenue – USD Million, 2018 - 2030)
Melamine Resin
Melamine Foam
Melamine, Application Outlook (Volume - Kiloton, Revenue - USD Million, 2018 - 2030)
Laminates
Wood Adhesives
Molding Compounds
Paints & Coatings
Others
Melamine, Application Outlook (Volume - Kiloton, Revenue - USD Million, 2018 - 2030)
Construction
Automotive
Chemical
Textile
Others
Melamine, Regional Outlook (Volume - Kiloton, Revenue - USD Million, 2018 - 2030)
North America
S
Canada
Europe
Germany
UK
Italy
France
Spain
Austria
Netherlands
Asia Pacific
China
Japan
India
Indonesia
Malaysia
South Korea
Latin America
Brazil
Argentina
Mexico
Middle East & Africa
Israel
Saudi Arabia
South Africa
UAE
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Polyurethane Dispersions Market Growth & Value Analysis
Polyurethane Dispersions Market, By ILS Category (ILS CAT I, ILS CAT II, ILS CAT III), VLA (Runway Lighting, Approach Lighting, Taxiway Lighting), VLA by Technology (LEDs & Incandescent Lamps), and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Market Overview
The Polyurethane Dispersions Market size is projected to reach a CAGR of 9.8% from 2022 to 2028.
Polyurethane dispersion (PUD) is simply a polyurethane polymer resin, which is dispersed in water. PUD is an anionic dispersion and has a high molecular weight. These dispersions are produced by the reaction of diisocyanates or polyisocyanates and polyols. Polyurethane dispersion is a technology that involves a two-phase system involving dispersion of polyurethanes into water and other liquefying agents. These products have excellent properties such as high tensile strength, thermal stability, aberration resistance and high elasticity.
The growing demand for PUDs is due to increasing industrialization, construction, and infrastructure activities in APAC, the Middle East & Africa, and South America, and growing demand for environmentally friendly solutions and processes are some of the factors that have supported long-term expansion for Polyurethane Dispersions Market.
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Regional Analysis
The PUDs market in APAC is the largest market during the forecast period. The demand in APAC is driven by the growing industrial activities, increased consumer and infrastructural spending, and strong economic growth.
Key Players
Michelman, Inc.
The Lubrizol Corp
Mitsui Chemicals Inc.
Lamberti S.p.A.
Perstorp Holding AB
LANXESS AG
Hauthaway Corporation
Alberdingk Boley GmbH
Chase Corporation
Allnex
Covestro AG
VCM Polyurethanes pvt. Ltd
Chemtura Corporation
DowDuPont, Inc.
BASF SE
Cytec Industries, Inc.
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Recent Developments
In February 2021, Lanxess signed a contract to acquire 100% share of Emerald Kalma chemical. With this acquisition, Lanxess expects an additional annual ebitda contribution of around USD 30 million.
In June 2020, BASF extended its packaging coatings production to South China. Customers will benefit from the short lead time and proximity to raw material supply.
Reasons to Acquire
Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
Gain authentic and granular data access for Polyurethane Dispersions Market so as to understand the trends and the factors involved behind changing market situations
Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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Report Scope
Polyurethane Dispersions Market is segmented into type, application and region.
On the basis of Type
Solvent-free
Low-solvent
On the basis of Application
Paints & Coatings
Adhesives & Sealants
Leather finishing
Textile finishing
Others
On the basis of Region
Asia Pacific
North America
Europe
South America
Middle East & Africa
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Delvens is a strategic advisory and consulting company headquartered in New Delhi, India. The company holds expertise in providing syndicated research reports, customized research reports and consulting services. Delvens qualitative and quantitative data is highly utilized by each level from niche to major markets, serving more than 1K prominent companies by assuring to provide the information on country, regional and global business environment. We have a database for more than 45 industries in more than 115+ major countries globally.
Delvens database assists the clients by providing in-depth information in crucial business decisions. Delvens offers significant facts and figures across various industries namely Healthcare, IT & Telecom, Chemicals & Materials, Semiconductor & Electronics, Energy, Pharmaceutical, Consumer Goods & Services, Food & Beverages. Our company provides an exhaustive and comprehensive understanding of the business environment.
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The Polyurethane Dispersions Market report answers a number of crucial questions, including:
Which companies dominate the Polyurethane Dispersions Market?
What current trends will influence the market over the next few years?
What are the market's opportunities, obstacles, and driving forces?
What predictions for the future can help with strategic decision-making?
What advantages does market research offer businesses?
Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
What is the anticipated growth rate for the market economy globally?
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Low-VOC Coating Additive Market to Hit $8.16 Billion by 2032
The global Low-VOC Coating Additive Market was valued at USD 5.28 Billion in 2024 and it is estimated to garner USD 8.16 Billion by 2032 with a registered CAGR of 5.58% during the forecast period 2024 to 2032.
Global Low-VOC Coating Additive Market Research Report 2024, Growth Rate, Market Segmentation, Low-VOC Coating Additive Market. It affords qualitative and quantitative insights in phrases of market size, destiny trends, and nearby outlook Low-VOC Coating Additive Market. Contemporary possibilities projected to influence the destiny capability of the market are analyzed in the report. Additionally, the document affords special insights into the opposition in particular industries and diverse businesses. This document in addition examines and evaluates the contemporary outlook for the ever-evolving commercial enterprise area and the prevailing and future outcomes of the market.
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The Major Players Profiled in the Market Report are:-
Air products (U.S.), Alatana AG (Germany), Eastman Chemical Company (U.S.), BASF SE (Germany), Huntsman Corporation (U.S.), Elementis PLC (U.K.), Dow (U.S.), Om Group Inc. (U.S.), Dupont (U.S.), and Allnex (Belgium).
Low-VOC Coating Additive Market 2024 covers powerful research on global industry size, share, and growth which will allow clients to view possible requirements and forecasts. Opportunities and drivers are assembled after in-depth research by the expertise of the construction robot market. The Low-VOC Coating Additive Market report provides an analysis of future development strategies, key players, competitive potential, and key challenges in the industry.
Global Low-VOC Coating Additive Market Report 2024 reveals all critical factors related to diverse boom factors inclusive of contemporary trends and traits withinside the worldwide enterprise. It affords a complete review of the top manufacturers, present-day enterprise status, boom sectors, and commercial enterprise improvement plans for the destiny scope.
The Low-VOC Coating Additive Market document objectives to offer nearby improvement to the market using elements inclusive of income revenue, destiny market boom rate. It gives special observation and analysis of key aspects with quite a few studies strategies consisting of frenzy and pestle evaluation, highlighting present-day market conditions. to be. Additionally, the document affords insightful records approximately the destiny techniques and opportunities of worldwide players.
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Global Low-VOC Coating Additive Market, By Region
1) North America- (United States, Canada, Mexico, Cuba, Guatemala, Panama, Barbados, and many others)
2) Europe- (Germany, France, UK, Italy, Russia, Spain, Netherlands, Switzerland, Belgium, and many others)
3) the Asia Pacific- (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Vietnam, and many others)
4) the Middle East & Africa- (Turkey, Saudi Arabia, United Arab Emirates, South Africa, Israel, Egypt, Nigeria, and many others)
5) Latin America- (Brazil, Argentina, Colombia, Chile, Peru, and many others)
This Low-VOC Coating Additive Market Research/analysis Report Contains Answers to your following Questions
What trends, challenges, and barriers will impact the development and sizing of the global market?
What is the Low-VOC Coating Additive Market growth accelerator during the forecast period?
SWOT Analysis of key players along with its profile and Porter’s five forces analysis to supplement the same.
How much is the Low-VOC Coating Additive Market industry worth in 2019? and estimated size by 2024?
How large is the Low-VOC Coating Additive Market? How long will it keep growing and at what rate?
Which section or location will force the market and why?
What is the important thing current tendencies witnessed in the Low-VOC Coating Additive Market?
Who are the top players in the market?
What and How many patents are filed by the leading players?
What is our Offering for a bright industry future?
The Research Objectives of this Report are to:-
Company, key regions/countries, merchandise and applications, historical records from 2018 to 2022, and global Low-VOC Coating Additive Market till 2032. Study and analyze the market length (cost and volume).
To recognize the structure of Low-VOC Coating Additive Market via way of means of figuring out its numerous subsegments.
Low-VOC Coating Additive Market on the subject of the primary regions (with every essential country). Predict the cost and length of submarkets.
To examine the Low-VOC Coating Additive Markets with appreciation to person boom trends, destiny prospects, and their contribution to the general market.
To examine aggressive trends consisting of expansions, contracts, new product launches, and acquisitions withinside the market.
Strategic profiling of key gamers and complete evaluation of growth strategies.
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Reasons to Buy Market Report
The market record presents a qualitative and quantitative analysis of the market based on segmentation that includes each economic and non-economic element.
Low-VOC Coating Additive Market through the region. The market evaluation highlights the consumption of products/services in areas and well-known shows elements influencing the market in every region.
Low-VOC Coating Additive Market. It consists of an in-depth analysis of the market from specific views via Market Porter's Five Forces Analysis and provides insights into the market via the Value Chain.
The Low-VOC Coating Additive Market file provides an outline of market fee (USD) information for every segment and sub-segment.
It consists of an in-depth analysis of the market from distinct views via a 5 forces analysis of the Low-VOC Coating Additive Market and offers insights into the market through the fee chain.
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#Low-VOC Coating Additive Market#Low-VOC Coating Additive Market 2024#Global Low-VOC Coating Additive Market#Low-VOC Coating Additive Market outlook#Low-VOC Coating Additive Market Trend#Low-VOC Coating Additive Market Size & Share#Low-VOC Coating Additive Market Forecast#Low-VOC Coating Additive Market Demand#Low-VOC Coating Additive Market sales & price
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Ultraviolet Uv Curable Resins Market Key Players, Economic Impact and Forecast to 2030
The ultraviolet (UV) curable resins market is a segment of the global resin industry that is experiencing significant growth due to its unique properties and wide range of applications. UV curable resins are liquid or semi-solid materials that polymerize and harden when exposed to ultraviolet light. This process is known as UV curing or photo-polymerization.
Here is some full information about the UV curable resins market:
Market Overview: UV curable resins are increasingly being used as an alternative to traditional solvent-based resins due to their low volatile organic compound (VOC) emissions, fast curing time, and high performance characteristics. These resins find applications in various industries such as coatings, adhesives, inks, and electronics.
Types of UV Curable Resins: There are different types of UV curable resins available in the market, including:
Acrylic Resins: Acrylic-based UV curable resins are widely used due to their excellent adhesion, chemical resistance, and durability.
Epoxy Resins: UV curable epoxy resins offer high mechanical strength and are commonly used in coatings and electronic applications.
Polyester Resins: Polyester-based UV curable resins provide good flexibility and weather resistance, making them suitable for outdoor applications.
Others: Other types of UV curable resins include polyurethane, silicone, and hybrid resins.
Market Drivers: Several factors are driving the growth of the UV curable resins market, including:
Environmental Regulations: Increasing regulations on VOC emissions have led to a shift towards eco-friendly and low-emission coatings and adhesives, favoring UV curable resins.
High Performance: UV curable resins offer superior properties such as scratch resistance, chemical resistance, and fast curing, meeting the demand for high-performance materials.
Growing End-use Industries: Industries such as automotive, electronics, packaging, and wood coatings are adopting UV curable resins for various applications, boosting market growth.
Technological Advancements: Ongoing research and development efforts have led to the development of new UV curable resin formulations with improved properties and broader application possibilities.
Applications: UV curable resins find applications in diverse industries, including:
Coatings: UV curable coatings are used in automotive refinishing, industrial coatings, and wood coatings due to their fast curing, high gloss, and excellent durability.
Adhesives: UV curable adhesives offer fast bonding and curing, making them suitable for applications in electronics, medical devices, and optical industries.
Inks: UV curable inks are widely used in digital printing, packaging, and labeling applications due to their high color vibrancy, quick curing, and low VOC emissions.
3D Printing: UV curable resins are extensively used in stereolithography (SLA) and digital light processing (DLP) 3D printing technologies for rapid prototyping and production.
Regional Market: The UV curable resins market is geographically diverse, with significant growth observed in various regions, including North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific is the largest market due to the presence of major end-use industries and increasing investments in infrastructure and construction activities.
Key Players: Some prominent companies operating in the UV curable resins market include:
BASF SE
Allnex Belgium SA/NV
Royal DSM N.V.
Arkema Group
Covestro AG
Toagosei Co., Ltd.
Hitachi Chemical Co., Ltd.
Dymax Corporation
IGM
#Ultraviolet Uv Curable Resins Market#Ultraviolet Uv Curable Resins Market Growth#Ultraviolet Uv Curable Resins Market Trends
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Asia-Pacific Metal Packaging Coatings Market - Forecast(2024 - 2030)
Asia-Pacific Metal Packaging Coatings Market Overview
Asia-Pacific Metal Packaging Coatings Market size is forecast to reach US$1,990.4 million by 2027, after growing at a CAGR of 7.3% during 2022-2027. The preference for metal food & beverage containers in the Asia-Pacific region has been increasing rapidly, owing to its range of benefits such as better product protection, durability, sustainability, affordability, light-weight, and more in comparison to other types of packaging. The development of new coating technologies which include Bisphenol A non-intent (BPA-NI) coatings are further fueling the growth of the market in the Asia-Pacific region. Moreover, increasing demand for metal packaging coatings from the pharmaceutical industry are further accelerating the growth of the market in the Asia-Pacific region. Also, strict regulations regarding the use of plastics in various countries across the Asia-Pacific region along with increasing product launches and developments associated with metal packaging is expected to increase the demand for metal packaging coatings for use in various end-use industries over the forecast period.
Covid-19 Impact
The COVID-19 outbreak led to major economic problems and challenges for the food & beverage, pharmaceutical, cosmetic, and other industries in the Asia-Pacific region. According to the International Monetary Fund (IMF), the GDP growth of the Asia declined by 1.3% and Australia by 2.4% as indicated in the graphs, owing to the economic impact of COVID-19. The governments all across the Asia-Pacific region announced strict measures to slow the spread of the coronavirus and only the production of essential commodities were allowed, which impacted the non-essential commodity industries, thereby impacting the production of metal packaging coatings as well. However, economic stimulus packages allotted for multiple sectors in the Asia-Pacific region and the start of industrial production activities since 2021 is improving the metal packaging coatings market growth in the Asia-Pacific region by its increasing utilization in various industries.
Report Coverage
The report: “Asia-Pacific Metal Packaging Coatings Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Asia-Pacific metal packaging coatings industry.
By Packaging Types: Food (2 piece and 3 piece), Caps & Closure (External and Internal), and General Line (External and Internal) By Coating Types: Water based, Solvent based, and Powder based. By Resins Type: Acrylic, Fluoropolymer, Urethanes, Epoxy (BPA and Non-BPA), Amines, and Others. By Application: Food (Sea Food, Meat, Infant Nutrition & Dairy, Vegetables, Catering, Biscuits, Cookies & Confectionary, Fats & Oils, Toppings, and Others), Pharmaceutical, Cosmetics, Personal Care, and Others. By Country: China, Japan, Thailand, Vietnam, India, Indonesia, Malaysia, and Rest of Asia-Pacific.
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Key Takeaways
China dominated the Asia-Pacific Metal Packaging Coatings Market in the year 2021. One of the key drivers driving the market is increasing use of metal packaging in food products such as fruits, vegetables, infant nutrition & dairy, bakery, and other similar products in order enhance the durability of metal packaging.
Increasing product launches for phenolic resins that are primarily used in a wide range of metal packaging coatings employed in food, pharmaceuticals, and other applications which require a smooth, durable, and spotless finish, has driven the market growth. For instance, In June 2020, companies such as Allnex GMBH, which has its presence in the Asia-Pacific region launched its new eco-friendly phenolic resin for use in BPAni application for metal packaging coatings.
Strict environmental regulations are driving metal packaging coating manufacturers in the Asia-Pacific region to adopt environmentally conscious practices, thus, the demand for water-based coatings are increasing significantly in the region.
Asia-Pacific Metal Packaging Coatings Market Segment Analysis – By Coating Types
The water based coating segment held the largest share in 2021 and is expected to grow at a CAGR of 8.2% by 2027. Water-based coating is an environmentally friendly surface treatment that disperses the resin used in the coatings using water as a solvent. They have a high degree of flexibility and reduce moisture and solar radiation absorption, thereby, resulting in fewer solvent emissions. The VOC (Volatile Organic Compounds) content in the water-based coating is significantly low, and since there are regulations restricting the high VOC content in Asia-Pacific is resulting in its increasing adoption by metal packaging coating manufacturers based in the region. For instance, in 2021, China launched its 14th Five-Year Plan, the chemical sector refocused its environmental protection goals on low-carbon transformation and comprehensive control of VOC emissions, as well as a considerable emphasis on encouraging low VOC products. Furthermore, as compared to solvent-based coatings, water-based coatings for metal packaging require less coating to cover the same surface area, cost less, and do not require any additives, thinners, or hardeners because they provide higher adherence. Thus, water-based barrier coatings are utilized to protect the metal packaging from external and internal effects by sealing the substrate surface.
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Asia-Pacific Metal Packaging Coatings Market Segment Analysis - By Application
Food sector held the largest share with 66% in the Asia-Pacific Metal Packaging Coatings Market in 2021 and is anticipated to grow at a CAGR of 7.4% during the forecast period 2022-2027. Metal packaging cans, containers, tins, and more are utilized for the packaging of the food because these types of packaging maintain the food filling's flavors and nutritional content ranging from months to several years. However, the direct contact between the metal packaging and food content filled inside the cans and other types of packaging are not safe. The direct contact between metal and food can degrade the food content, owing to this food-friendly coating are applied to safeguard the packaged food from corroding metal. The shifting the focus of Asia-Pacific packaging manufacturers from plastic to metal is expected to drive up the demand for metal packaging coatings for food cans. This is further projected to expand the market growth in the Asia-Pacific region. According to UACJ Corporation, between 2019 and 2022, global demand for aluminium used in cans will rise 11% to 6.61 million tons per year. Southeast Asian countries are likely to account for half of that demand, according to the report. Thus, rising demand for cans will accelerate the production for aluminium cans, which further benefits the metal packaging coatings demand.
Asia-Pacific Metal Packaging Coatings Market Segment Analysis – By Country
China dominated the Asia-Pacific Metal Packaging Coatings Market in terms of revenue with a share of 59% in 2021 and is projected to dominate the market during the forecast period (2022-2026). In China, the metal packaging coatings market is fueled by the growth of the country’s food & beverage sectors. For instance, according to the China Chain Store & Franchise Association, China’s food and beverage sector was valued at around US$ 595 billion in 2019, an increase of 7.8% in comparison to 2018. Metal cans offer a range of benefits such as better food protection, durability, sustainability, affordability, light-weight, and more in comparison to other types of packaging such as paper or plastic packaging. In August 2020, ORG technology, the Chinese manufacturer of food cans, launched its white paper on the strategic development of food cans. The company focused on coated iron metal cans with moisture-proof, environmental protection, safety, corrosion resistance, anti-extrusion, and other characteristics to gain traction in the market. In this way, such increasing food production along with the development of food cans in China, owing to its various benefits as mentioned above, is expected to increase the demand for metal packaging coatings to further enhance the durability of such food cans. This is expected to accelerate the growth of the market in China during the forecast period.
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Asia-Pacific Metal Packaging Coatings Market Driver
Increasing Preference for Metal Containers in Food & Beverage Sector
Metal packaging coatings are primarily used to coat different metals such as steel, aluminum, tin-plate, and more that are used for food & beverage packaging in order to enhance its ability to resist corrosion. Metal containers offer a range of benefits such as better product protection, durability, sustainability, affordability, light-weight, and more in comparison to other types of packaging such as paper or plastic packaging. For instance, vegetables, fruits, pet food, soups, and meats are often packaged in metal cans. Canning foods help prolong their shelf life and can help people afford to make healthy dietary choices. Similarly, soda, beer, and even wine are usually packaged in aluminum cans since aluminum beverage cans are the most recycled category for aluminum products, with nearly 50 percent of all cans recycled annually. Thus, all of these benefits of metal containers are driving its demand over other types of packaging. As a result, many companies in the Asia-Pacific region have begun packaging their food & beverages in metal containers. For instance, in February 2021, Responsible Whatr, a brand based in India, launched spring water in aluminum beverage cans made by Ball Corporation, a leading manufacturer of aluminum packaging. The company intends to create a brand that signifies sustainability and become a significant contributor to the circular economy. In July 2020, Showa Aluminum Can Corporation (SAC), metal packaging manufacturer, launched its third aluminum can manufacturing facility in Vietnam with an overall plant capacity of 1.3 billion cans per year in order to meet the growing demand for metal packaging from the food & beverage sectors of the country. Thus, such increasing preference and use of metal containers in the Asia-Pacific region are expected to increase the demand for metal packaging coatings to further enhance the durability of the metal containers, thus, accelerating the growth of the market in the Asia-Pacific region.
Growing Demand from the Pharmaceutical Industry
Metal packaging coatings are primarily used in the pharmaceutical industry in order to provide protection to the metal from atmospheric corrosion and support decoration, labeling, and consumer information. Its range of benefits such as impermeability to light, moisture, gases, and water, durability, light-weight, and ease of printing labels directly onto the metal surface make them ideal for use in the pharmaceutical industry. Thus, an increase in pharmaceutical production in the Asia-Pacific region is expected to drive the market growth during the forecast period. According to Vietnam’s Ministry of Health, the pharmaceuticals industry is expected to grow at the rate of 10% per year from 2017 to 2028, owing to an increase in pharmaceutical production and sales in the country. Also, according to International Trade Administration, the local pharmaceutical production in Japan reached up to US$59,958 in 2017, US$62,570 in 2018, US$87,027 in 2019, and US$84,600 in 2020 respectively. thus, indicating an increase in pharmaceutical production in Japan per year. An increase in pharmaceutical production is expected to drive the demand for metal packaging coatings in the pharmaceutical industry, thus accelerating the growth of the market in the upcoming years.
Asia-Pacific Metal Packaging Coatings Market Challenges
Volatility of Raw Material Prices
Primary raw materials including resins, solvent, and more used in the production of metal packaging coatings are derived from crude oil. As a result, fluctuations in the prices of crude oil in the Asia-Pacific region may hinder the growth of the market. For instance, India’s Crude Oil Basket (COB) reached US$19.90 per barrel, which was the lowest record since February 2002. During the first 11 months of the year 2020-21, the average annual price of India’s COB was around US$42.72 per barrel, which decreased by 30% than the average COB price in 2019-20. Likewise, as per revised estimates for 2020-21, the COB has increased by around 35% from its initial budget estimate. Since October 2021, Vietnam has also witnessed a spike in demand for crude oil. According to the oil price, the price of light crude oil exceeded US$94.38 per barrel in February 2022, an increase of 3.63% that is equivalent to US$3.3, the highest record since November 2014. Similarly, the price of Brent crude oil also increased and reached up to US$95.39 per barrel, an increase of 1.98% which is equivalent to US$1.85.
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Asia-Pacific Metal Packaging Coatings Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Asia-Pacific Metal Packaging Coatings Market. Asia-Pacific metal packaging coatings top 10 players include:
The Sherwin Williams Company
PPG Industries Inc.
AkzoNobel N.V.
Kansai Paint Co., Ltd.
Altana AG (Actega)
Henkel AG & Co. KGaA
Axalta Coating Systems Ltd.
Eason & Co.
Toyochem Co., Ltd.
Kangnam Jevisco Co., Ltd. and Others.
Recent Developments
In June 2021, AkzoNobel has invested in research and development activities associated with packaging coatings. The research is primarily focused on development of a new, and recyclable coating through use of bio-derived polyelectrolytes. These polyelectrolytes are 100% natural and are extracted from shrimp shells or waste from the wood processing industry. The versatility of natural polyelectrolytes will allow the company to become less dependent on synthesized polymers for packaging coatings.
In May 2021, ALTANA completed its acquisition of the closure materials business of Henkel group, a chemical and consumer goods manufacturing company with a strong regional presence in the Asia-Pacific region. Within the ALTANA Group, the business will be integrated into the ACTEGA division and globally assigned to the metal packaging solutions business line including the Asia-Pacific region. The main objective of this acquisition is to strengthen the company’s focus on innovative specialty chemicals.
In March 2021, Toyochem launched a new line of Bisphenol A non-intent (BPA-NI) internal coatings for metal beverage bottles and cans. These coatings are based on acrylic emulsion and polyester resins. The new BPA-NI internal sprays and coil coatings for stay-on tab (SOT) ends are specially formulated to achieve the required performance results, while addressing BPA-related health and food safety concerns from regulators and consumers in the Asia-Pacific region and worldwide.
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