Packaging Pharma, Food and Beverages: These are the Top-Trends in Packaging Inks and Coatings
Food and beverage packaging drives the demand for inks and coatings: More than half of the global demand comes from these demanding branches. But what are the major trends that shape tomorrow’s inks and coatings market? And which companies are likely to take the lion’s share? A recent report provides valuable insights…
London/United Kingdom – These are the top five leading vendors in the global packaging inks and coatings market until 2020: UK market research specialists Technavio has identified the food and beverage market as the leading consumer branch for packaging inks and coatings. The beverages sector alone had a share of around 33% of the market and the food sector had a share of around 25% of the market in 2015. The consumption of beer and other canned products is expected to boost the market further.
According to Sharan Raj, a lead analyst at Technavio for research on packaging, “Technology and innovation will be key differentiating factors among vendors during the forecast period. Vendors are experimenting on various innovative solutions such as inkjet technology, water-based ink, LED inks, inks from recycled ink cartridge, faster printing technology, and sustainable inks and coatings.”
Competitive Vendor Landscape
The global packaging inks and coatings market is very competitive with the presence of many global and regional players. The market has major players such as AkzoNobel, Flint, and smaller players such as Arkema Group in France.
The packaging coatings market is a consolidated market in comparison to the packaging inks market. Valspar, a major player in the packaging coatings market, accounts for more than 40% of the packaging coatings market.
The market players are expanding their geographic reach and presence through strategic alliances and mergers and acquisitions. In March 2016, Sherwin-Williams announced its acquisition of Valspar. The deal is valued at USD 9.3 billion and increased the market share of Sherwin-Williams.
Discover the Top Vendors in F&B Packaging Coatings, Inks and Paints...