Water-based Coatings Emerging Lucrative in Barrier Coated Papers Market, Finds FMI Study
On the back of their superior water resistance, grease & oil resistance, and compliance with food standards, barrier coated papers continue to gather preference for packaging and printing applications. Projected for a promising CAGR of more than 4% during 2019 – 2029, a new Future Market insights (FMI) report anticipates the market to receive a major boost from food, consumer electronics, and retail industry.
Barrier Coated Papers Market
A recent market report published by FMI on the barrier coated papers market provides globa...
Key Takeaways of Barrier Coated Papers Market Study
- Water-based coatings are gaining traction in the barrier coated papers market, surpassing solvent-based coatings. Water-based coatings are expected to count for majority of the market share by 2029, attributable to the regulatory landscape, limited recyclability, and slow degradation of solvent-based barrier coated papers.
- Packaging is estimated to account for a significant share in the global barrier coated papers market. More than 95% of the paper packaging used for beverage packaging, and majority of the food wraps, cups, and lids used in the food industry are barrier-coated.
- The food industry is identified as the key end-user for the barrier coated papers market, as packaging of confectionery, dairy, and snacks requires oil & grease resistant papers for lining boxes.
- North America accounts for nearly 30% of the global barrier coated papers market. The market in North America is expected to lose some market share in the barrier coated papers market to developing regions, especially South Asia and East Asia. This shift can be attributed to robust growth in consumption of packaged food and retail industry in these regions.
- Wider adoption of sustainable barrier coatings is anticipated to be a key trend in the barrier coated papers market. Bio-based plastics as coating materials are gaining significant traction and are expected to become more cost-effective.
Manufacturers in the barrier coated papers market can leverage the remunerative growth potential offered by nascent bio-based materials. Capacity addition and introduction of cost-effective barrier coatings for paperboard converters can create significant opportunities for all players operating across the value chain.
Who Is Winning?
Paper packaging giants such as Stora Enso Oyj., UPM-Kymmene Oyj, Sappi Ltd., Billerudkorsnas AB, and Mitsubishi Paper Mills Limited are some of the prominent players operating in the global barrier coated papers market. Coating companies and paperboard converter companies are collaborating to develop innovative barrier coated papers.
- In November 2019, Stora Enso Oyj collaborated with HS Manufacturing Group (HSMG), a manufacturer of plant-based barrier coatings, to produce Stora Enso’s formed fiber offering.
- In November 2019, Smurfit Kappa collaborated with Mitsubishi HiTec Paper, to develop an innovative and recyclable food-safe packaging solution. The outer board-based packaging is made from Smurfit Kappa’s MB12 packaging solution and the inner packaging contains Mitsubishi HiTec Paper’s BARRICOTE barrier coated papers.
More About Barrier Coated Papers Report
Future Market Insights, in its new offering, offers an unbiased analysis of the global barrier coated papers market, analyzing historical demand from 2014-2018 and forecast statistics for 2019-2029. The study unravels growth projections on the barrier coated papers market on the basis of coating type (water-based, solvent-based and wax coatings), material (paper, plastic (PE, PP, PVDC, bio-plastic (polysaccharides, PLA, PHA), PET, EVOH, PA), wax, AIOx, SiOx) and application (packaging (cups & lids, trays, boxes, pouches, labels, blisters & clamshells, wraps, and tapes) and end-use industries (food (bakery, confectionery, snacks, dairy, spices & condiments, and sauces), beverages, cosmetic & personal care, pharmaceuticals, building & construction, electrical & electronics, tobacco packaging, and others) across seven major regions.
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About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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