Rigid Plastic Packaging (RPP) Inks & Coatings Market to Grow with a CAGR of 3.01% through 2028
Surge in research and development activities are expected to drive the Global
Rigid Plastic Packaging (RPP) Inks & Coatings Market growth in the forecast
period, 2024-2028.
According to TechSci Research report, “Rigid
Plastic Packaging (RPP) Inks & Coatings Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the Global
Rigid Plastic Packaging (RPP) Inks & Coatings Market stood at USD 1.23 billion in 2022 and is anticipated to grow with a CAGR of 3.01% in the forecast
period, 2023-2028. The initiatives taken by government based on rigid plastic packaging
(RPP) inks & coatings has led to favorable market conditions for the Global
Rigid Plastic Packaging (RPP) Inks & Coatings Market. Several factors
contribute to the growth of various rigid plastic packaging (RPP) inks & coatings
products. The European Commission, in its efforts to promote sustainability,
launched a comprehensive strategy back in 2018 to support the circular economy.
As part of this strategy, the Commission set ambitious targets for packaging
recycling and emissions reduction, which have a direct impact on the RPP inks
and coatings market. In order to align with these targets, the strategy
emphasizes the importance of using sustainable inks and coatings that not only
facilitate recyclability but also contribute to lower emissions. By advocating
for the adoption of such eco-friendly solutions, the European Commission aims
to drive positive change and create a more environmentally conscious market
environment.
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Rigid Plastic Packaging (RPP) Inks & Coatings Market”
Sustainability
has become a central focus in the packaging industry, as companies strive to
reduce their environmental impact. Extensive research and development
initiatives have resulted in the development of innovative and more sustainable
inks and coatings. These advancements align with global sustainability goals
and aim to minimize the carbon footprint of packaging materials. For instance,
there is a growing adoption of bioplastics, derived from renewable sources, and
the use of recycled materials in the production of rigid plastic packaging
(RPP). This trend not only reduces dependence on fossil fuels but also promotes
the circular economy by giving new life to discarded materials. These
sustainable practices are expected to drive the growth of the RPP inks and
coatings market in the coming years. As consumer awareness and demand for
eco-friendly packaging solutions increase, companies are investing in research
and development to further enhance the sustainability of their products. Moreover,
research efforts are also addressing health and environmental concerns
associated with packaging materials. A recent case study on detergent bottles
highlights the importance of environmental sustainability and human health in
the selection of chemicals used for rigid plastic packaging. By carefully
choosing the right inks and coatings, manufacturers can ensure that their
packaging not only meets functional requirements but also minimizes potential
risks to both people and the planet.
Overall, these
studies and ongoing research efforts play a crucial role in guiding future
R&D endeavors, enabling the industry to make informed decisions that
prioritize sustainability and contribute to a more environmentally conscious
packaging landscape.
The Global Rigid
Plastic Packaging (RPP) Inks & Coatings Market is segmented into product
type, end user, regional distribution, and company.
Based on its product type, the bottles segment held
the largest share in the market. In addition to their role in the dominance of
bottles in the RPP inks and coatings market, technological advancements have
made a substantial impact. The increased adoption of UV and LED-curable inks
has revolutionized the industry, offering not only vibrant colors and
high-quality print but also exceptional resistance to abrasion and chemicals.
This remarkable combination of performance characteristics has significantly
enhanced the attractiveness and functionality of rigid plastic bottles, making
them the preferred choice for various applications. With their superior
capabilities, these bottles continue to be at the forefront of innovation and
meet the ever-evolving demands of consumers and industries alike.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
Sustainability efforts are becoming increasingly
important in Asia Pacific countries. As awareness of environmental issues
continues to grow, there is a rising demand for sustainable practices and
products. In response to this, there is a growing trend towards using
lightweight and biodegradable plastics in rigid plastic packaging. This shift
not only aligns with global sustainability goals, but also addresses the
specific challenges faced by the region. By adopting these eco-friendly
solutions, Asia Pacific countries are taking proactive steps towards a greener
and more sustainable future.
Major companies operating in Global Rigid Plastic
Packaging (RPP) Inks & Coatings Market are:
- Akzo Nobel N.V.
- Flint Group Inc.
- PPG Industries, Inc.
- Sun Chemical Corporation
- The Valspar Corporation
- Altana AG
- Axalta Coating Systems Ltd
- Brancher Kingswood
- The ColorMatrix Corporation
- DIC Corp.
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“Growing application of rigid plastic packaging (RPP) inks
& coatings in various end user industries are key drivers of the rigid plastic
packaging (RPP) inks & coatings market. Growth in competitive landscape and
presence of well-established companies in the market who are dedicated to
enhance their productivity of rigid plastic packaging (RPP) inks & coatings
with every passing year are anticipated to register an impressive growth to Global
Rigid Plastic Packaging (RPP) Inks & Coatings Market in the forecast period.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Rigid Plastic Packaging (RPP) Inks &
Coatings Market By Product Type (Bottles, Containers, Others), By End User (Food
& Beverage, Pharmaceutical, Personal Care, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of Global Rigid Plastic Packaging (RPP) Inks &
Coatings Market and provides statistics & information on market size, structure,
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Rigid Plastic
Packaging (RPP) Inks & Coatings Market.
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