Tuesday, 28 March 2023 03:00 AM
Company Update
NEWARK, DE / ACCESSWIRE / March 28, 2023 / According to Future Market Insights, the China packaging primers market size is forecast to reach US$ 564.1 million in 2023 and further expand at a CAGR of 4.8% during the projection period. Overall packaging primer sales in China are poised to surge at a steady pace, taking the overall market valuation to US$ 901.5 million by 2033.
Rising demand for flexible and protective packaging with lightweight and better aesthetic features is a key factor driving China's packaging primers industry forward.
Flexible packaging solutions are widely preferred over rigid packaging solutions, as they are cost-effective, lightweight, and durable, and require fewer plastics, and less space on shelves during packaging than rigid packaging options.
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The lightweight feature of flexible packaging makes it convenient to use. Its films are coated with coatings to produce various levels of high-quality barrier protection with aesthetic, elegant, and attractive appearance to attract end-users.
Flexible packaging also offers a variety of presentation possibilities that helps brand owners to increase the aesthetic appeal of products and also improve product branding, which has raised the inclination of manufacturers towards adopting flexible packaging solutions over rigid packaging solutions as primary packaging.
There has been a substantial upsurge in the number of modern retail formats such as hypermarkets, supermarkets, and convenience stores over the past few years in Asian countries including China.
This has significantly helped in increasing the overall consumption of products packed in flexible packaging formats. The rising inclination towards flexible or lightweight packaging formats is supplementing the sales of packaging primers in China to a significant extent.
Similarly, growing popularity of water-based coatings due to rising environmental concerns and booming e-commerce will boost packaging primer sales across China during the projection period.
Key Takeaways from China Packaging Primers Market
- The packaging primers market size in China is projected to reach US$ 901.5 million by 2033.
- Overall packaging primer sales across China are forecast to surge at 4.8% CAGR between 2023 and 2033.
- By primer type, solvent-based coatings segment is expected to expand at a CAGR of 7.2% during the assessment period.
- Based on application, film, aluminum & paper converters segment is anticipated to hold around 42% of the total market share by the end of 2033.
- Top 5 companies hold around 20% to 25% share of the China packaging primers industry.
"Growing awareness about the benefits offered by packaging primers such as high-end gloss and finish, better surface for ink adhesion while printing, excellent moisture-resistant properties, and several others which are optimum for premium packaging. Premium and luxury goods have emerged as an ultimate choice among consumers which is leading to the rise in demand for packaging primers in China," - says an FMI analyst.
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Innovation & Development by China Packaging Primers Manufacturers Gaining Traction
Packaging manufacturers across China are constantly innovating to offer new products with multifunctional features to their customers. Subsequently, several packaging primer manufacturers are developing new formulas of primers to enhance the manufacturing process and printability.
For instance,
- In March 2021, Actega announced ‘Galacryl' which is the first-of-a-kind dual cure, soft touch, and water-based decorative coating for laminate tubes which will solve the issues like abrasion, stain resistance and long-term scratch caused by the effects of soft touches.
Rising Popularity of Premium Goods Propelling Sales of Packaging Primers in China
Premium goods have emerged as an ultimate choice across various sectors in the goods packaging industry. Brands can attract more customers by offering items packaged with glossy & luxurious finish platforms, and package coatings are viewed as a method for achieving this.
Aesthetics together with appearance are vital factors when designing and manufacturing packaging in retail sector and fast-moving consumer goods (FMCG) industry. The reasons behind the rapid penetration of packaging primers in the China market are their attractive features such as excellent moisture-resistant properties high-end gloss, better surface for ink adhesion while printing, etc.
Medical Packaging Materials and Converting Selection Practices to Offer Growth Prospects to China Packaging Primer Manufacturers
The medical industry is expressing a strong interest in anti-microbial materials to counter healthcare-acquired infections (HAI). This is expected to bring the packaging primers market into the spotlight.
From identifying and selecting the suitable materials and primer products for slicing, layering, laminating, and packaging of the finished product, a medical converter with enough experience can provide essential information required for success. This is how the medical packaging industry is anticipated to provide new prospects to manufacturers of packaging primers.
Who is Winning?
Key Packaging primer manufacturers across China include The Sherwin-Williams Company, Henkel Investment Co. Ltd., Axalta Coating Systems, BASF SE, PPG Industries Inc., The Lubrizol Corporation, Mica Corporation, and others.
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China Packaging Primers Market by Category
By Primer Type:
- Water-based Coating
- Solvent-based Coating
- Wax Coating
- Poly Coating
By Application:
- Film Makers
- Aluminum Makers
- Paper Makers & Coaters
- Film, Aluminum & Paper Converting
Table of Content
1. Executive Summary | China Packaging Primers Market
1.1. China Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
4. Key Success Factors
4.1. Product Adoption Analysis
4.2. Product USPs / Features
5. Market Demand Analysis 2015 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Volume (Tons) Analysis, 2015 to 2022
5.2. Current and Future Market Volume (Tons) Projections, 2023 to 2033
5.3. Y-o-Y Growth Trend Analysis
6. Market - Pricing Analysis
6.1. Regional Pricing Analysis
6.2. Pricing Break-up
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