India Packaging Coating Market

India Packaging Coating Market Size, Share, Growth Analysis, By Type(Solvent-based Coatings and Water-based Coatings), By Material(Plastics and Paper), By Region - Industry Forecast 2024-2031


Report ID: SQMIC15E2523 | Region: Country | Published Date: July, 2030
Pages: 184 |Tables: 59 |Figures: 75

India Packaging Coating Market Insights

India Packaging Coating Market size was valued at USD 1.9 billion in 2021 and is poised to grow from USD 2.6 billion in 2022 to USD 3.98 billion by 2030, growing at a CAGR of 6.2% during the forecast period (2023-2030).

The packaging coatings market in India has witnessed significant growth in recent years, driven by factors such as increasing urbanization, rising disposable incomes, and the growing e-commerce sector. The demand for packaging coatings is closely linked to the packaging industry, which serves various sectors such as food and beverages, pharmaceuticals, personal care, and industrial goods. In terms of supply conditions, India has a well-established manufacturing base for packaging coatings, with both domestic and international companies operating in the market. This has resulted in a competitive landscape with a wide range of coating options available to meet diverse packaging requirements. Additionally, advancements in technology and manufacturing processes have improved the quality and performance of packaging coatings, further fueling market growth. Short-term factors that can affect the packaging coatings market include fluctuations in raw material prices, supply chain disruptions, and changes in consumer preferences.

In the long run, sustainability and environmental regulations are expected to play a significant role in shaping the market. As consumers become more conscious of the environmental impact of packaging, there is a growing demand for eco-friendly coatings and materials. The dynamics of the packaging coatings market in India are influenced by various drivers, such as the increasing demand for packaged products, the rise of e-commerce and retail sectors, and the emphasis on product differentiation through attractive packaging. However, the market also faces restraints such as volatile raw material prices and the need for continuous innovation to meet evolving consumer expectations. Opportunities in the market lie in the development of high-performance coatings with enhanced functionalities, such as barrier properties, antimicrobial coatings, and smart packaging solutions. Political and socioeconomic factors, including government policies and regulations, consumer preferences, and economic growth, also impact the market dynamics.

Market Snapshot - 2023-2030

Global Market Size

USD 1.9 billion

Largest Segment

Solvent-based Coatings

Fastest Growth

Solvent-based Coatings

Growth Rate

6.2% CAGR

India Packaging Coating Market ($ Bn)
Country Share for India Region (%)

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India Packaging Coating Market Segmental Analysis

The India Packaging Coating market is segmented by type, end-user, and region. Based on type, the market can be segmented into solvent-based coatings, and water-based coatings. Based on end-user, the market is segmented into plastics, and paper. Based on region, the market is segmented into North India, South India, East India, West India, and Central India.

India Packaging Coating Market Analysis by Type

By type, the market can be segmented into solvent-based coatings and water-based coatings. Solvent-based coatings dominated the India packaging coatings market. These coatings offer excellent adhesion, durability, and chemical resistance, making them suitable for a wide range of packaging applications. They are particularly preferred for packaging materials like metal and plastic. However, due to increasing environmental concerns and regulations regarding volatile organic compounds (VOCs), the demand for solvent-based coatings has experienced a slight decline in recent years.

Water-based coatings have witnessed significant growth in the India packaging coatings market, emerging as the fastest-growing segment. These coatings utilize water as a carrier, making them more environmentally friendly and safer to handle compared to solvent-based coatings. Water-based coatings also provide good adhesion and durability while offering the advantage of lower VOC emissions. The growing awareness and adoption of sustainable packaging solutions have driven the demand for water-based coatings in India. Moreover, government initiatives promoting eco-friendly practices have further fueled the growth of this segment.

India Packaging Coating Market Analysis by End-User

By end-user, the market can be segmented into plastics and paper. Plastics dominated the packaging coating market in India. The widespread use of plastics in packaging can be attributed to their versatility, durability, and cost-effectiveness. Plastics provide excellent barrier properties, protecting packaged products from moisture, air, and contaminants. They also offer flexibility in design, allowing for various shapes and sizes of packaging containers.

Paper-based packaging coatings are experiencing rapid growth and are the fastest-growing segment. This growth is driven by several factors, including increased environmental awareness, regulatory restrictions on single-use plastics, and consumer preferences for sustainable packaging solutions.

India Packaging Coating Market Size By Type (%), 2021 (%)

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India Packaging Coating Market Regional Insights

North India is the dominant region due to the presence of key market players and the growing demand for packaged food and beverages in states such as Delhi, Haryana, and Punjab. The region accounted for the largest share of the India packaging coating market in 2023, with a market share of over 35%.

However, the fastest-growing region in the India packaging coating market is South India, which is expected to experience significant growth due to the presence of key end-use industries such as food and beverages, pharmaceuticals, and personal care products. The region is witnessing rapid urbanization and a rising population, which is driving the demand for packaged goods and, subsequently, the demand for packaging coatings.

India Packaging Coating Market By Geography, 2023-2030
  • Largest
  • Fastest

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India Packaging Coating Market Dynamics

India Packaging Coating Market Drivers

Growing demand for packaged food and beverages

  • The growing demand for packaged food and beverages is a significant driver of the global packaging coating market. With the increasing popularity of ready-to-eat and convenient food products, the food and beverage industry is experiencing rapid growth, leading to a rise in demand for packaging coatings. These coatings play a vital role in safeguarding and improving the appearance of various packaging materials, thereby ensuring the quality and safety of the packaged products. Additionally, the surging trend of e-commerce and online food delivery services is also expected to boost the demand for packaging coatings to protect products during transportation and delivery.

India Packaging Coating Market Restraints

Escalating emphasis on eco-friendly and sustainable packaging solutions

  • The Indian packaging coating market is facing a notable constraint due to the escalating emphasis on eco-friendly and sustainable packaging solutions. As governments and consumers are becoming more cognizant of the ecological impact of packaging materials, a shift towards greener and biodegradable materials is being observed. This shift in consumer preferences is likely to cause a decline in the demand for conventional packaging coatings that do not meet eco-friendly standards. Moreover, the costlier nature of developing and executing sustainable packaging solutions may create a hurdle for smaller players in the packaging coating market.

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India Packaging Coating Market Competitive Landscape

The India packaging coating market is fiercely competitive, with the participation of both regional and global players. The market is marked by the presence of numerous small and large companies providing a diverse range of products. To gain an edge over their rivals, firms are concentrating on creating pioneering and environmentally-friendly solutions, enhancing their distribution channels, and broadening their market coverage. As the demand for sustainable packaging solutions rises, the competition among market participants is projected to increase, with companies endeavouring to cater to evolving customer requirements and preferences.

India Packaging Coating Market Top Player’s Company Profiles

  • Akzo Nobel India Limited
  • Asian Paints Limited
  • Berger Paints India Limited
  • Cosmo Films Limited
  • Dhanuka Agritech Limited
  • Fujifilm India Private Limited
  • Garware Polyester Limited
  • Gujarat Fluorochemicals Limited
  • Jenson & Nicholson (India) Limited
  • Kansai Nerolac Paints Limited
  • Manjushree Technopack Limited
  • Meghmani Organics Limited
  • Pidilite Industries Limited
  • Polyplex Corporation Limited
  • Raj Petro Specialities Pvt. Ltd.
  • Shalimar Paints Limited
  • SK Polymers
  • Sunanda Speciality Coatings Pvt. Ltd.
  • Uflex Limited
  • Valspar India Coatings Corporation Private Limited

India Packaging Coating Market Recent Developments

  • In May 2023, Berger Paints India partnered with a leading global packaging solutions provider to develop innovative coatings for metal packaging applications.
  • In April 2023, AkzoNobel India acquired a majority stake in a local packaging coatings company, strengthening its presence and product portfolio in the Indian market.
  • In February 2023, Pidilite Industries launched a new range of sustainable packaging adhesives, specifically designed to minimize the environmental impact of packaging materials.
  • In January 2023, Kansai Nerolac Paints announced an investment of INR 150 crore ($20 million) to expand its packaging coatings manufacturing facility in Maharashtra.
  • In July 2022, AkzoNobel India entered into a partnership with SRF Limited to develop and supply eco-friendly coatings for food and beverage packaging applications.

India Packaging Coating Key Market Trends

  • Increasing Demand for Acrylics: the Indian packaging coating market can be attributed to the exceptional properties and adaptability offered by acrylic resins. Derived from acrylic acid, methacrylic acid, or related acryl-based acids, these resins present a compelling array of characteristics that position them as an optimal choice for coating materials. Their exceptional transparency, robust durability, and formidable resistance to environmental elements, such as moisture, chemicals, and UV radiation, have made them highly sought-after in the packaging sector.
  • Within packaging applications, such as beverage cans and food cans, acrylic resins have established a prominent presence due to their capacity for enduring and withstanding various environmental challenges. Notably, their resistance to staining, blistering, and cracking elevates their desirability as coatings for packaging materials. Acrylic resins, encompassing both thermoplastic and thermosetting variants, are especially favored for their ability to maintain structural integrity even in the face of diverse and demanding environmental conditions. This trend aligns seamlessly with the evolving needs of the packaging industry in India, where the demand for reliable and versatile coating materials has seen substantial growth. The versatility of acrylic resins allows them to excel in multiple facets of packaging, from enhancing the durability of beverage cans to preserving the integrity of food cans during storage and transportation. Additionally, their capacity to resist staining and damage ensures that the packaged products maintain their visual appeal and quality.

India Packaging Coating Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our India packaging coating market analysis, the market is growing significantly, driven by the increasing demand for packaged food and beverages, pharmaceuticals, and personal care products. The market is also being fueled by the government's initiatives to boost the country's manufacturing sector, which is expected to drive the demand for packaging coatings. Additionally, the rising trend towards sustainable and eco-friendly packaging solutions is expected to drive the growth of the market in India. The leading players in the Indian packaging coating market are investing heavily in R&D to develop new and innovative coatings that are both eco-friendly and cost-effective. The market is highly competitive, with both domestic and international players competing on factors such as product quality, price, and environmental sustainability. With the rising demand for packaging coatings in India, the market is expected to continue to grow at a steady pace in the coming years.

Report Metric Details
Market size value in 2021 USD 1.9 billion
Market size value in 2030 USD 3.98 billion
Growth Rate 6.2%
Base year 2023
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Solvent-based Coatings and Water-based Coatings
  • Material
    • Plastics and Paper
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Akzo Nobel India Limited
  • Asian Paints Limited
  • Berger Paints India Limited
  • Cosmo Films Limited
  • Dhanuka Agritech Limited
  • Fujifilm India Private Limited
  • Garware Polyester Limited
  • Gujarat Fluorochemicals Limited
  • Jenson & Nicholson (India) Limited
  • Kansai Nerolac Paints Limited
  • Manjushree Technopack Limited
  • Meghmani Organics Limited
  • Pidilite Industries Limited
  • Polyplex Corporation Limited
  • Raj Petro Specialities Pvt. Ltd.
  • Shalimar Paints Limited
  • SK Polymers
  • Sunanda Speciality Coatings Pvt. Ltd.
  • Uflex Limited
  • Valspar India Coatings Corporation Private Limited
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on India Packaging Coating Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on India Packaging Coating Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the India Packaging Coating Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the India Packaging Coating Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the India Packaging Coating Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the India Packaging Coating Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

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FAQs

India Packaging Coating Market size was valued at USD 1.9 billion in 2021 and is poised to grow from USD 2.6 billion in 2022 to USD 3.98 billion by 2030, growing at a CAGR of 6.2% during the forecast period (2023-2030).

The India packaging coating market is fiercely competitive, with the participation of both regional and players. The market is marked by the presence of numerous small and large companies providing a diverse range of products. To gain an edge over their rivals, firms are concentrating on creating pioneering and environmentally-friendly solutions, enhancing their distribution channels, and broadening their market coverage. As the demand for sustainable packaging solutions rises, the competition among market participants is projected to increase, with companies endeavouring to cater to evolving customer requirements and preferences. 'Akzo Nobel India Limited', 'Asian Paints Limited', 'Berger Paints India Limited', 'Cosmo Films Limited', 'Dhanuka Agritech Limited', 'Fujifilm India Private Limited', 'Garware Polyester Limited', 'Gujarat Fluorochemicals Limited', 'Jenson & Nicholson (India) Limited', 'Kansai Nerolac Paints Limited', 'Manjushree Technopack Limited', 'Meghmani Organics Limited', 'Pidilite Industries Limited', 'Polyplex Corporation Limited', 'Raj Petro Specialities Pvt. Ltd.', 'Shalimar Paints Limited', 'SK Polymers', 'Sunanda Speciality Coatings Pvt. Ltd.', 'Uflex Limited', 'Valspar India Coatings Corporation Private Limited'

The growing demand for packaged food and beverages is a significant driver of the packaging coating market. With the increasing popularity of ready-to-eat and convenient food products, the food and beverage industry is experiencing rapid growth, leading to a rise in demand for packaging coatings. These coatings play a vital role in safeguarding and improving the appearance of various packaging materials, thereby ensuring the quality and safety of the packaged products. Additionally, the surging trend of e-commerce and online food delivery services is also expected to boost the demand for packaging coatings to protect products during transportation and delivery.

North India is the dominant region due to the presence of key market players and the growing demand for packaged food and beverages in states such as Delhi, Haryana, and Punjab. The region accounted for the largest share of the India packaging coating market in 2023, with a market share of over 35%.

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India Packaging Coating Market

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