The market is expected to register a CAGR of over 4% during the forecast period. One of the main factors driving the market is the growing demand for paper coating materials from the printing and packaging industry. However, the increasing use of electronic media is expected to hinder the growth of the market studied.
- The growing demand for biopolymer paper coating material from the paper industry is likely to act as an opportunity for the market studied in the coming years.
- By application, the increasing demand for paper coating materials from the printing and packaging industry is expected to dominate the market over the forecast period.
- The Asia-Pacific region is expected to dominate the market with the largest consumption from countries, such as China and India.
Key Market Trends
Growing Demand for Paper Coating Materials from the Printing and Packaging Industry
- Coated paper is a paper coated with a blend of materials or a polymer to give certain characteristics to the paper, including weight, surface sparkle, smoothness, or diminished ink absorbency.
- The increasing need for self-promotion of products on store shelves and mounting environmental concerns make the packaging field the largest sector of the printing industry.
- Coated paper is utilized widely in printing applications to enhance the aesthetic characteristics.
- The coated paper in food packaging prevents the passage of moisture and oxygen, keeps the food content fresh, and provides extended shelf-life.
- Hence, owing to the above-mentioned factors, the application of paper coating materials in printing and packaging is likely to dominate during the forecast period.
The Asia-Pacific Region is Expected to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for paper coatings during the forecast period. The rising demand for paper coating materials from the paints and coatings industry, along with growing population and construction activities in developing countries, like China and India, is expected to drive the demand for paper coating materials in this region.
- The largest producers of paper coating materials are located in the Asia-Pacific region. Some of the leading companies in the production of paper coating materials are BASF SE, Eastman Chemical Company, Asia Pulp & Paper (APP) Sinar Mas, Nippon Paper Industries Co. Ltd, and Michelman Inc., among others.
- The increasing focus on eco-friendly and sustainable paper packaging is expected to gain traction with many countries, such as India and China, pushing for paper packaging products over plastic packaging.
- Owing to the above-mentioned factors, the market for paper coating materials in the Asia-Pacific region is projected to grow significantly during the study period.
The global paper coating material market is partially fragmented in nature, with only a few major players dominating the market. Some of the major companies are BASF SE, Eastman Chemical Company, Asia Pulp & Paper (APP) Sinar Mas, Nippon Paper Industries Co. Ltd, and Michelman Inc., among others.
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