The market for functional and barrier coatings that are used in paper and board applications, is expected to increase by about 420,000t globally by 2018 and is worth around $4.2bn in 2012, reported Smithers Pira.
Smithers Pira’s ‘The Future of Functional and Barrier Coatings for Paper and Board to 2018’ noted that the Americas, EMEA and Asia-Pacific are the three major sectors, where the demand for coated materials, are evenly distributed.
The US accounts for 28% and holds the major share in the global market in 2012, while Asia-Pacific sector and China are expected to increase their share to 26% by 2018, with US slipping to 25%.
The report noted that change in consumer lifestyles and demographics such as growing demand for convenience, on-the-go meals and smaller packs are expected to increase the use of functional and barrier coatings for the paper and board sector.
As most of the retailers are concentrating on traceability of source materials and environmental awareness in suppliers, the need for biodegradable, recyclable or compostable coating materials for packaging applications is created.
The coating materials are largely used in packaging of food and beverages, which accounts for 85%, while majority portion will be used by fresh, chilled and frozen food sectors.
According to the report, 40% of coating materials are expected to be used in the form of extrusion polymers and aluminum foil laminate in the beverage and liquids sector.
Image: Forecast global market for functional and barrier coatings by region, 2013 and 2018. Photo: Courtesy of Smithers Pira.