Global Paints Packaging Market 2019-2023|Growth Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Jan 8, 2019--Technavio’s global paints packaging market research report forecasts the market to grow at a CAGR of approximately 5% during the forecast period.
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Technavio forecasts the global paints packaging market to grow at a CAGR of approximately 5% by 2023. (Graphic: Business Wire)
The innovation in rigid bulk packaging will be one of the major trends in the during 2019-2023. The changing consumer demand and preferences have been encouraging rigid bulk packaging vendors to provide advanced, innovative, and customized packaging products to enhance their market presence. To meet specific customer requirements, the vendors in the market are constantly expanding their product portfolio.
According to Technavio analysts, one of the key drivers for the global paints packaging market is the growing demand for paints and its derivatives:
Global paints packaging market: Growing demand for paints and its derivatives
Various types of paints such as solvent-based, varnishes, lacquers, enamels, and latex paints exist in the market based on the applications and end-user requirements. During the forecast period, the demand for paints and its derivatives is expected to increase due to high demand from new and existing buildings.
According to a senior analyst at Technavio for research on packaging, “Each building requires repainting once in every 3-5 years on an average. The period may vary based on the type of paint and the building. During the forecast period, the existing buildings account for considerable demand for painting and will drive the market growth for paints and its derivatives. This will promote the demand for paints packaging across the globe.”
Global paints packaging market: Segmentation analysis
This global paints packaging market analysis report provides market segmentation by material (metal and rigid plastic) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major segments by material, the metal segment held the largest paints packaging market share in 2018, contributing to over 65% of the market. This segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, accounting for more than 38% share. It was followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: HOME GOODS MANUFACTURING CHEMICALS/PLASTICS RETAIL
SOURCE: Technavio Research
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