The paints packaging market share will post an incremental growth of USD 4.60 billion, progressing at a CAGR of 4.28% during the forecast period. The growing demand for paints and their derivatives will offer immense growth opportunities to market vendors. The paints packaging market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Paints Packaging Market by Material and Geography - Forecast and Analysis 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The paints packaging market is segmented by material (rigid plastic and metal) and geography (APAC, Europe, North America, South America, and the Middle East and Africa).
The growth of the paints packaging market in the rigid plastic segment will be significant during the forecast period. Factors such as the easy availability of cost-effective raw materials and convenient transportation options will facilitate segment growth.
By geography, factors such as The rapid growth in population, urbanization, and the construction industry will drive the paints packaging market growth in APAC. 45% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the paints packaging market in APAC.
The growing demand for paints and their derivatives will directly influence the sales of paint packaging. In addition, the increase in skyscrapers is one of the major paint packaging market trends that will positively impact the market growth. However, fluctuating raw material prices will hamper the paints packaging market growth.
The market is fragmented due to the presence of several players. Some of the major paints packaging market vendors are Amcor Plc, ARANOW Packaging Machinery SL, Ardagh Group SA, Berlin Packaging LLC, Berry Global Group Inc., Can One Berhad, Colep UK Ltd., Envases Ohringen GmbH, Greif Inc., Involvement Ltd, Mangla Metal Pvt. Ltd., MAUSER Corporate GmbH, Mold Tek Packaging Ltd., National Can Industries Pty Ltd., Prima Yorkshire Ltd., Silgan Holdings Inc., Sun Packaging, and The Dow Chemical Co.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the paints packaging market forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the paints packaging market share.
Prediction on the upcoming trends, drivers, and factors that challenge the growth of the paints packaging market.
Paints packaging industry growth across APAC, Europe, North America, South America, and Middle East and Africa.