Paint Packaging Market Is Estimated To Witness High Growth Owing To Growing Construction Industry

The Paint Packaging Market is estimated to be valued at US$ 25.55 Bn in 2024 and is expected to exhibit a CAGR of 4.4% over the forecast period 2024- 2031, as highlighted in a new report published by Coherent Market Insights.

The growth of the paint packaging market is driven by growing construction activities along with rising infrastructural development projects across both developed and developing economies. Additionally, revival of automobile production post pandemic is also contributing to the increased demand for paint packaging from automotive OEMs.

Key Market Trends: Growing demand for sustainable packaging: There is a rising trend of use of eco-friendly packaging materials like paper, bag-in-box, and fiber drums for paint packaging. This can be attributed to stringent government regulations regarding use of plastic along with increased consumer preference for sustainable options.

Adoption of advanced printing technology: Leading players are focusing on advanced printing and coating technology for paint cans and boxes to enhance aesthetics and provide product information & branding in a clear and appealing manner. Quick Response (QR) codes and Augmented Reality (AR) are being increasingly used on packaging surfaces. More coverage can be found in the sample copy.

Paint Packaging Market Opportunities: Metal containers segment held the largest market share of 35% in 2019 and is anticipated to witness a CAGR of 4% during the forecast period. Metal containers offer durability and ensure high quality preservation of paints, which makes them suitable for packaging of premium quality and long shelf-life paints.

Cans segment accounted for over 45% of the global paint packaging market share in 2019. Cans provide easy handling and storage of paints and offer excellent barrier properties. Availability of cans in different sizes as per requirements of consumers further drives the growth of this segment.

Key Market Takeaways: The paint packaging market size was valued at USD 25.55 Bn in 2024 and is anticipated to witness a CAGR of 4.4% during the forecast period 2024-2031. Increased construction activities along with growing housing spending is driving the sales of decorative paints, thereby fueling the market growth.

On the basis of material type, metal containers segment is expected to hold a dominant position, owing to their durability and ability to preserve quality of paints for longer duration. By product, cans segment is expected to hold a dominant position over the forecast period due to their easy handling, storage benefits and barrier properties.

Regionally, North America is expected to hold a dominant position over the forecast period, due to rise in home improvement and renovation activities in the region.

Competitor Insights: RPC Group PLC, Greif, INC, BWAY Corporation, Industrial Container Services, Mauser Group

Recent Developments in Paint Packaging Market: In June, global paint brand AkzoNobel announced plans to roll out new cloud-based supply chain management software across its facilities worldwide by early 2024. The new system utilizes Internet of Things sensors, big data analytics, and machine learning to provide real-time visibility into inventory levels, transportation status, production schedules and more. This is expected to cut costs, reduce waste, and improve on-time delivery rates for the company.

In August, Benjamin Moore rolled out its new Eco-Conscious packaging line featuring post-consumer recycled paper bags and plastic pails made from bio-based resins. The plant-based plastic resin used can fully biodegrade at industrial composting facilities. Benjamin Moore estimates the new packaging will eliminate over 130 tons of virgin plastic usage annually. Full coverage of the report available here.