The global paint packaging market size is expected to be valued at USD 28.4 billion by 2025, advancing at a CAGR of 4.3% over the forecast period, according to a new report by Grand View Research, Inc. Significant increase in government spending in various countries on construction activities has triggered and necessitated the use of paint packaging products globally.
The market is expected to witness significant growth over the forecast period owing to an increase in infrastructure spending in emerging economies, most notably in Asia Pacific. For instance, infrastructure spending in Indonesia is expected to exceed USD 165 billion by 2025 and is backed by augmented government spending in the sector across this country. Another important factor bolstering the demand for these packaging products is the increasing instances of product launches led by prominent players operating in the market.
The intensity of rivalry in the market has demanded key players to improve their product offerings in order to stay ahead of the competition. For instance, in May 2018, Nippon Paint (India) Company Limited launched a new premium interior paint under Infinite Air brand. Similarly, Farrow & Ball, a Europe-based manufacturer, introduced nine new paint colors in its product portfolio. Such product launches have increased the product consumption, most notably paint cans & pails.
Asia Pacific has been witnessing a healthy surge in the product adoption rate in the recent years. The industry has been strengthened by an augmented demand for industrial and architectural paints in the region led by countries such as China, India, and Japan. Other key markets in this region include Thailand, Indonesia, and Vietnam. Rising demand for this packaging in these countries is attributable to high adoption of innovative paint products by prominent manufacturers. Some of the key manufacturers driving the demand for paint packaging products in the aforementioned countries include Asian Paints, Kansai Nerolac Paints, and Berger Paints India Limited.
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Further key findings from the report suggest:
In terms of material, metals emerged as the largest segment in 2018, registering a revenue of USD 9.7 billion. The segment is expected to advance at a CAGR of 3.5% over the forecast period
Cans & pails emerged as the largest product segment in 2018, with a market share of 77.7% in 2018. Among various factors associated with the growing popularity of cans & pails, increasing adoption of plastic cans has emerged as the key factor driving the overall industry
Professional segment was the dominant end-use segment in the industry with a high consumption of larger formats of paint packaging containers
Asia Pacific is expected to retain its top position in the industry throughout the forecast period. Architecture industry continues to provide impetus to the Asia Pacific paint packaging market, which is underpinned by increased consumption of both interior and exterior paints
China market is anticipated to progress at a CAGR of 3.9% over the forecast period. The demand for the packaging in the country has been driven by increased application of paints in large-scale construction projects
The market represents a highly competitive landscape with prominent players sharing the market space. Capacity expansion has been one of the popular strategies employed by the key players
Key market participants include Amcor Ltd., Ball Corporation, Mondi Plc, Smurfit Kappa, Crown Holdings, Inc., HUBER Packaging Group GmbH, and RPC Superfos among others.
Grand View Research has segmented the global paint packaging market on the basis of material, product, end use, and region.
Paint Packaging Material Outlook (Revenue, USD Million, 2014 - 2025)
Polyethylene Terephthalate (PET)
Paint Packaging Product Outlook (Revenue, USD Million, 2014 - 2025)
Cans & Pails
Paint Packaging End Use Outlook (Revenue, USD Million, 2014 - 2025)
Paint Packaging Regional Outlook (Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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