Functional and Barrier Coatings for Paper Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment, and Forecast 2020 - 2030
Functional and Barrier Coatings for Paper Market: Overview
The functional and barrier coatings for paper market is expected to witness promising growth across the assessment period of 2020-2030. The growing concerns about food wastage across the globe are anticipated to bring promising growth opportunities for the functional and barrier coatings for paper market during the forecast period. The extensive awareness about environmental conservation will further invite good growth opportunities for the functional and barrier coatings for paper market.
Functional and barrier coatings offer a barrier to grease, vapors, oil, water, and others. This function helps in enhancing the printing quality of paper and paperboard products.
The utilization of functional and barrier coatings for paper in corrugated boxes, labels, tags, folding cartons, passport, visa papers, banknotes, tickets, voucher papers, stamp papers, lottery and gaming papers, disposable plates, trays, clamshells, cups, glasses, bowls, tubs, and others may bring tremendous growth prospects for the functional and barrier coatings for paper market.
On the basis of coating type, the functional and barrier coatings for paper market can be segmented into UV coating, wax coating (natural and synthetic wax coating), poly coating (vinyl coating, acrylic coating, epoxy coating, PET, polyolefin). End-users such as food and beverages, pharmaceuticals, banking, financial institutions, personal care, cosmetics, toiletries, and others are utilizing functional and barrier coatings for papers greatly, eventually increasing the growth rate.
Functional and Barrier Coatings for Paper Market: Notable Developments
The players in the functional and barrier coatings for paper market are investing heftily in research and development activities for deriving new formulations and upgrades in terms of quality. This aspect will offer more convenience to the end-users. Strategic collaborations such as mergers, acquisitions, joint ventures, and partnerships are a top priority for the players in the functional and barrier coatings for paper market.
Functional and Barrier Coatings for Paper Market: Key Players
Some well-established players in the functional and barrier coatings for paper market are:
Functional and Barrier Coatings for Paper Market: Key Trends
Food and Beverage Industry to Attract Considerable Demand
The food and beverages industry is expected to reign supreme in terms of demand across the functional and barrier coatings for paper market. The emergence of a busy and hectic routine with changing lifestyle patterns will influence the growth of the functional and barrier coatings for paper market to a great extent. Furthermore, the preference of the consumers toward affordable food packaging and see-through features may bring good growth opportunities for the functional and barrier coatings for paper market.
Many individuals, especially from the millennial category may bring immense growth prospects for the functional and barrier coatings for paper market as they are the main consumers for quick and on-the-go food products.
Functional and Barrier Coatings for Paper Market: COVID-19 Impact
In addition, the lockdown restrictions escalated the demand for quick food immensely. This factor increased the demand for functional and barrier coatings for paper in food products.
The stringent stay-at-home orders had a negative impact on the growth due to supply chain disruptions. Nevertheless, the relaxations provided by the governments of numerous countries may turn out to be a positive development and help in reviving the lost growth.
Functional and Barrier Coatings for Paper Market: Regional Perspective
The functional and barrier coatings for paper market in Asia Pacific may acquire a large growth-share across the forecast period of 2020-2030. The presence of a massive number of manufacturers and suppliers may prove to be a significant growth factor. Europe may obtain the second position in terms of regional growth during the assessment period of 2020-2030.
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