New Research Report on Flex Pack Coatings Market, 2017-2027
Upsurge in demand for packaging solutions from industries such as food and beverage, pharmaceutical, cosmetics, electronics and lubricants has led to the expansion of flex pack coatings market. Flex pack coating maintains freshness and integrity of material by protecting it from the external environmental hazards during transportation and storage. Flex pack coating can be used for providing information to the customer about the product and the manufacturing company. It also helps in providing protection to the contents by creating a barrier against moisture, gas, UV light, etc.
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Flex Pack Coatings Market: Market Drivers
Flex pack coatings market growth is correlated with the demand for flexible packaging products. The flexible packaging industry is expected to grow at a CAGR of 3% over the forecasted period. Some of the factors for the growth of the flex pack coatings market is the need for storing products through longer shipping cycles and increasing the shelf life of the product. Moreover, the growing demand for lightweight and compact items along with increased preference of e-commerce for procuring goods is also influencing the flex pack coating market. However, food and pharmaceuticals are the most dominating sectors in the flex pack coatings market. As the awareness for the environment protection is increasing, consumers now prefer to purchase products which are labeled environment-friendly. So the demand for the sustainable flex pack coatings market is expected to grow significantly. The low price to performance ratio has encouraged the packaging providers to adapt for flex pack coatings. Innovations such as use of bio-based solutions and nanotechnology may provide significant opportunities in the flex pack coatings market.
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Flex Pack Coatings Market: Market Restraints
The rising concern amongst regulatory bodies across the globe regarding plastic waste caused by the extensive use of flex pack coatings, acts as a restraint for the flex pack coatings market. The inability of the flexible packaging to compete with the rigid packaging in terms of product protection from physical hazards can reduce its demand. Interaction of the flex pack coating material especially in the case of the reactive product can also be the factor for limiting the growth of the flex pack coatings market.
Some Key players of Flex Pack Coatings Market
Some of the key players of Flex pack coatings are FPS Pty Ltd, Innovative FlexPak LLC, Flex Film Ltd, LEIPA Georg Leinfelder GmbH, Balmer Lawrie & Co. Ltd, Uflex Ltd, Bemis Co. Inc., Sigma Plastics Group, Sealed Air Corp, Berry Plastics Corp., DuPont Co, Winpak Ltd, etc.
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