Packaging Primers Market: Introduction
Transparency Market Research delivers key insights into the packaging primers market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2020–2028. In terms of revenue, the global market is projected to expand 1.4 times of current market value by the end of 2028, owing to increasing demand for multi-layered coated films and barrier coated paper products across several countries about which, TMR offers detailed insights and forecasts in the packaging primers market report.
Packaging primers are water-based, solvent-based, or wax & poly coatings that are generally used to maximize the efficiency of high-end printing, provide slip control, anti-blocking, moisture resistance, and release. Solvent-based and poly coatings offer consistent high quality print finishes as well as provides protection for a wide range of applications. Manufacturers of packaging primer solutions nearly serve every end use in food, beverage, cosmetic & personal care, and pharmaceuticals industries, among others. The TMR team segmented the analysis of packaging primers market based on various factors such primer and applications across five regions.
As per the TMR analysis, solvent-based coatings are expected to hold the largest market share and outpacing wax & poly coatings during the forecast period.
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Packaging Primers as Means to Showcase New Bespoke Products
Over the years, packaging primers are finding their consumption in many end-use sectors, including pharmaceutical, food & beverages, consumer durables electronic goods, cosmetics & personal care, and automotive & allied products packaging. The reasons that aid the penetration of the product in the market are its prominent features such as better surface for ink adhesion, while printing, high-end finish – gloss, matte or satin, excellent moisture resistant properties, and others. Customized packaging has appeared as an ultimate selection across various end-use sectors in the goods packaging industry. Brand owners are looking to pull in buyers by posing items placed on a luxurious and glossy print finishes, and packaging coatings are noticed as a technique for attaining this.
Therefore, as per the TMR analysis, the demand for packaging primers is anticipated to boost during 2020–2028, owing to increasing demand for high-end print finishes, especially for bespoke products.
Due to the growth of key end-use industries such as food & beverages, pharmaceuticals, personal care & cosmetics, etc., the demand for packaging primers is projected to rise during the forecast period. Therefore, key players are planning to increase investments in developing new technology-based packaging primers and new product launches in the market.
- In October 2020, The Sherwin-Williams Company has launched high-performing Pro Industrial line with the introduction of Pre-Catalyzed Water-based Urethane, a new single-component coating
- In November 2019, Elastocoat C a BASF’s renowned polyurethane (PU) resin, which is used in the pultrusion technology for high performance profiles was launched
COVID-19 Hindering Growth of Packaging Primers Market
The COVID-19 pandemic is likely to add economic challenges for the manufacturers of packaging primers across various regions. In spite of massive demand for various types of coatings for packaging converting, manufacturers are facing numerous challenges in terms of limited work capitals, disrupted product supply chain, and now emerging second wave of the pandemic in 2021. However, the aluminum can coatings sector continues to be a vital business, predominantly for the food & beverage products. The detailed inspection of the market found that even before the COVID-19 pandemic, the demand for metal packaging had grown at a consistent rate, although at a lower level than all other packaging. The lockdown in North America and European countries caused a rise in the demand for food cans, as customers stock up on tinned foods products. The demand for beverage cans has also increased as drinkers move away from bars and pubs and into socially isolated home drinking. This has likely to add some new opportunities for the market players.
Packaging Primers Market: Competition Landscape
The global packaging primers market is anticipated to witness tough rivalry among key players. This market includes many well-established market participants. Besides this, many other local players and start-ups are entering into this market attributing to significant revenue creation with the raising demand for PET containers.
Some of the key players operating in the global Packaging primers market are The Sherwin-Williams Company, PPG Industries, Inc., Axalta Coating Systems, ACTEGA Terra GmbH, Akzo Nobel N.V., DIC Corporation, BASF SE, Aqua Based Technologies, National Paints Factories Co. Ltd., KANGNAM JEVISCO CO., LTD., Paramelt B.V., Michelman, Inc., Mica Corporation, S-One Holdings Corporation, and Coim Group among others.
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The Tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure, The Sherwin-Williams Company, PPG Industries, Inc., and Akzo Nobel N.V. are the Tier 1 players in the packaging primers market. Furthermore, Tier 2 players include Axalta Coating Systems, DIC Corporation, Coim Group, BASF SE, and some other major players. These companies hold around 10-15% of the global packaging primers market share.
Global Packaging Primers Market Segmentation
Packaging Primers Market by Primer
- Water-based Coatings
- Solvent-based Coatings
- Other Coatings (Wax Coating and Poly Coating)
Packaging Primers Market by Application
- Film Makers (Pre-converting Step)
- Aluminum Makers (Pre-converting Step)
- Paper Makers & Coaters (Pre-converting Step)
- Film, Aluminum & Paper Converting (Converting Step = Lamination)
Packaging Primers Market by Region
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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