ALBANY, NY — The global market for packaging coatings is expected to benefit from a growing packaging industry across the globe and new developments in packaging materials and product designs. A market research publication by Transparency Market Research (TMR) foresees more factors that could aid the overall development of the market in the next few years. The report is titled Packaging Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024.

The report states that vendors in the market will benefit significantly from the development of environment-friendly and organic products, as there has been a significant rise in stringent regulations governing the packaging sector. Products that can be reused and recycled are also increasing in demand.

From a geographical perspective, the report states that the market presently witnesses the most lucrative growth opportunities in North America and is expected to continue to see a promising pace of expansion in the region in the next few years as well. The region is an important international hub for industries such as packaged foods, pharmaceuticals, medical devices and packaging companies. The demand for packaging coatings in the region will expand at a promising pace over the next few years as well.

In the next few years, the market in Asia-Pacific is expected to outpace the growth of other regional markets, presenting a promising growth opportunity for players operating in the global packaging coatings market. Demand will be driven by the increased use of a variety of innovative packaging products in thriving industries such as food and beverages, consumer goods, and electronics. The market in Latin America is also expected to witness promising growth opportunities over the next few years.

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