Flexible Plastic Packaging Coating Market is estimated to expand at a CAGR of 4.0% during forecast period between 2018 to 2026; Flexible plastic packaging coating market is segmented based on coating type, coating application, substrate type and end use.
Albany, NY -- (SBWIRE) -- 02/07/2020 -- The flexible plastic packaging coating market is expected to witness robust growth in the near future, thanks to rising demand for safety, and adhesives in e-commerce packaging. The improving logistics of e-commerce, and growing demand for valuables like electronic gadget, and appliances are also expected to open new opportunities for growth. The high-quality of products like acrylics coatings, and their conventional demand are likely to emerge as key factors for growth in the near future.
Players in the flexible plastic packaging coating market cater to various end-user sectors including food and beverage, pharmaceuticals, and manufacturing as well. Among these, the demand for pharmaceuticals is expected to remain substantial. Rising demand for new products, and growth of hallmark-laden 3D printing are also expected to open up lucrative opportunities in the sector in near future.
Among different regions, North America is likely to remain dominant in terms of total revenues. The region is witnessing a major change in pharmaceuticals as costs of productions improve with outsourcing, and marketing and innovation activities take centerstage for growth. Positive push from regulatory agencies like the FDA for innovation also promises major growth opportunities for players in the flexible plastic packaging coating market in the near future.
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The eye-catching varieties of flexible plastic packaging coating remain in robust demand as their premium look, affordable costs, and rising demand for the same from consumers continues to promise a positive outlook for the flexible plastic packaging coating market. The increasing growth in new regions of Asia Pacific is driving the need for new brand creation, and opportunities to do so as well.
The glossy, and luxurious finishes are also witnessing lower marketing costs as social media influencing takes centerstage in most cases. The rising demand in the food an beverage industry for new products replacing conventional carbonated drinks, and changes in fast-food chains driving vegan trends are notable developments in the market. The growing need for innovation to provide healthy foods, and the need for these products to be cheap as well as premium will create more opportunities for players in the flexible plastic packaging coating market.