Packaging Inks and Coatings Global Market Report 2024

The packaging inks and coatings market size has grown strongly in recent years. It will grow from $4.68 billion in 2023 to $4.98 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to several key factors. Firstly, the development of new printing technologies and coating formulations has enabled the creation of more innovative and attractive packaging solutions, driving market growth. Secondly, evolving environmental and safety regulations have pushed companies to adopt more sustainable and eco-friendly packaging materials and practices, further fueling growth. Thirdly, there is a growing awareness and demand for sustainable packaging solutions among consumers, which has driven companies to innovate and develop more environmentally friendly options. Additionally, the increasing global movement of goods has led to higher demand for packaging materials, contributing to market growth.

The packaging inks and coatings market size is expected to see strong growth in the next few years. It will grow to $6.28 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period is driven by the increasing demand for sustainable and eco-friendly packaging solutions, the growing preference for digital printing technologies in the packaging industry, rising awareness of and adherence to stringent regulatory requirements for food and pharmaceutical packaging, expanding e-commerce activities, and continuous advancements in packaging materials and technologies. Major trends in the forecast period include an increased emphasis on sustainable inks and coatings, advancements in UV-curable inks, and the integration of smart packaging solutions.

The packaging ink and coatings market is anticipated to experience growth driven by the increasing popularity of e-commerce. E-commerce, which involves buying and selling goods and services online, relies on packaging inks and coatings to ensure product protection, enhance brand visibility, and meet consumer expectations. For example, the US Census Bureau reported that US retail e-commerce sales reached approximately $271.7 billion in the third quarter of 2023, reflecting a 0.9% increase from the previous quarter, with e-commerce sales accounting for 14.9% of total sales during that period. This trend underscores the importance of packaging inks and coatings in meeting the needs of the growing e-commerce market, highlighting the market's potential for further expansion.

Major companies in the packaging ink and coatings market are focusing on introducing solvent-based ink to enhance their competitive advantage. Solvent-based ink formulations use organic solvents as the liquid carrier, providing various benefits. For example, Flint Group US LLC, a US-based manufacturer of conventional and UV printing inks, launched its ONECode solvent-based ink and coating range for flexible packaging in Europe in September 2021. This range includes ONECode Universal Bases, which offer enhanced print flexibility and efficiency in the gravure print process. By simplifying the flexible packaging printing process, improving print quality, and reducing ink consumption and waste, the ONECode range aims to increase efficiency in the printing process.

In April 2022, Siegwerk Druckfarben AG & Co. KGaA, a German ink manufacturer, acquired La Sorgente Spa for an undisclosed sum. This acquisition expands Siegwerk's presence in Italy, enhancing its local coverage, infrastructure, and service offerings for packaging printers. La Sorgente Spa, based in Italy, specializes in manufacturing water-based and solvent-based flexographic inks for paper and board applications.

Major companies operating in the packaging inks and coatings market report are Fujifilm Corporation, PPG Industries Inc., Arkema S.A, Axalta Coatings Systems, Sun Chemical, ALTANA AG, Flint Group, Sakata INX Corporation, Siegwerk Druckfarben AG & Co. KGaA, Dainichiseika Color & Chemicals Mfg. Co. Ltd., Toyo Ink SC Holdings Co. Ltd., Huber Group, Colorcon, T&K TOKA Corporation, Tokyo Printing Ink Mfg. Co. Ltd., Zeller+Gmelin GmbH & Co. KG, Nazdar Company, Wikoff Color Corporation, INX International Ink Co., Marabu GmbH & Co. KG, Epple Druckfarben AG, Doneck Euroflex S.A., Paragon Inks, Van Son Holland Ink Corporation, Pulse Roll Label Products Ltd., BCM Inks, RUCO Druckfarben.

North America was the largest region in the packaging inks and coatings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the packaging inks and coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the packaging inks and coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Packaging inks and coatings play a crucial role in enhancing the visual appeal and protection of various packaging materials such as paper, plastic, and metal. These specialized materials are designed to provide color, graphical elements, and protective layers that improve durability, barrier properties, and tactile qualities.

The main types of packaging inks and coatings include flexible plastic, rigid plastic, metal, and paper. Flexible plastic is known for its ability to bend and flex without breaking, making it ideal for applications in advertising, electronics, retail, and more. These materials are used by industries such as cosmetics, food and beverage, pharmaceuticals, industrial products, and others.

The packaging inks and coatings market research report is one of a series of new reports that provides packaging inks and coatings market statistics, including packaging inks and coatings industry global market size, regional shares, competitors with a packaging inks and coatings market share, detailed packaging inks and coatings market segments, market trends and opportunities, and any further data you may need to thrive in the packaging inks and coatings industry. This packaging inks and coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The packaging inks and coatings market consists of sales of UV (ultraviolet) inks, direct food contact inks, water-based inks, scratch-off inks, and specialty formulations. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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