Latest News - Paints Packaging Market: Cans and pails are expected to lead the Product segment during 2024-2028

The Paints Packaging Market is being driven by Growing demand for paints and their derivatives

The Paints Packaging Market is expected to grow at a CAGR of 4.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5347.8 million. The global construction industry has witnessed a significant surge in the number of skyscraper projects due to the scarcity of land and urbanization trends. Several notable skyscraper developments are underway, including Torch Tower in Tokyo, Japan, by Sou Fujimoto Architects, slated for completion by 2028. Evergrande International Financial Center T1, with a height of 518 meters, is anticipated to be finished by 2025. The Towers in Miami, US, by Foster and Partners, is expected to be completed by 2023. These projects underscore the continued demand for tall structures in urban areas. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Cans and pails
  • Pouches
• Material
  • Rigid plastic
  • Metal
• Geography
  • APAC
    • China
    • Japan
  • Europe
    • Germany
    • UK
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing demand for paints and their derivatives
• Increasing infrastructural development projects
• Rising demand for metal cans

However, the market also witnesses some limitations, which are as follows:

• Fluctuating prices for raw materials used in paint packaging
• High market competition
• Stringent government regulations on packaging

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Market Scope in Paints Packaging Market Research Report

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Research Analysis Overview

The global paints and coatings market is estimated to grow at a significant rate in the coming years, driven by various factors such as increasing infrastructure spending in the construction industry, digital technologies, and e-commerce trends. Online sales of paints through e-commerce platforms and digital technologies are becoming increasingly popular, especially during the pandemic. Key players in the market, such as Solvay, are investing heavily in R&D to develop advanced coating solutions with improved corrosion resistance and high performance. These solutions are being offered in various forms, including polymers, additives like Addibond, and packaging materials like pouches, aerosol cans, pails, and cans. Metals like steel and aluminum continue to be widely used in paints packaging due to their durability and strength. However, there is a growing trend towards using polyethylene and other polymers for their lightweight and cost-effective properties. Imports and exports of paints and coatings are also expected to increase, with countries like China and the US being major players in both production and consumption. VOC content remains a concern for environmental regulations, and there is a growing demand for low-VOC and zero-VOC paints. Exterior paints are a significant segment of the market, with increasing demand for high-performance coatings that offer superior protection against weathering and UV radiation. Overall, the future of the paints packaging market looks bright, with continued innovation and investment in sustainable and high-performance solutions.

Market Research Overview

The Paints Packaging Market encompasses a diverse range of container materials, including metal, glass, and plastic. This market exhibits a fragmented landscape, with numerous stakeholders at various stages of the value chain. Raw material procurement is a crucial aspect, involving suppliers of base materials such as steel, aluminum, borosilicate glass, soda-lime-silica glass, HDPE, LDPE, PET, PP, and PVC. The subsequent stages include R&D for the desired product, large-scale manufacturing to meet market demands, and distribution through multiple channels to end-users. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/