The Latin America, Middle East and Africa Packaging Coatings Market would witness market growth of 6.2% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 146.2 kilo tonnes, showcasing a growth of 5.1% (2024-2031).
The cosmetics industry plays a significant role in driving demand for coatings in the Packaging Coatings Market, with coatings serving crucial functions in preserving product integrity, enhancing aesthetics, and ensuring consumer safety. Coatings for cosmetics packaging materials such as glass bottles, plastic containers, and metal tubes provide a protective barrier against environmental factors such as moisture, air, and light, preventing degradation and extending the shelf life of cosmetic products. Consequently, the Brazilian cosmetics industry consumed 6.23 kilo tonnes of this coating in 2023.
The Brazil market dominated the LAMEA Packaging Coatings Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $114.1 million by 2031. The Argentina market is showcasing a CAGR of 7% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 5.8% during (2024 - 2031).
These coatings may offer other functional features, such as thermal insulation, electrical conductivity, and flame retardancy, depending on the specific requirements of automotive and industrial applications. Applying these coatings improves the functionality and security of bundled components when exposed to harsh operating conditions, including electrical systems, elevated temperatures, and perilous work settings.
The market is characterized by a dynamic landscape of trends and innovations that drive technological advancements, product differentiation, and market competitiveness. An aspect worthy of mention is the increasing focus on sustainable and environmentally friendly coatings. This trend is propelled by regulatory requirements to reduce plastic pollution and consumer demand for environmentally responsible packaging solutions.
As e-commerce retailers strive to meet consumers' evolving needs and expectations, the demand for these coatings that offer protection, customization, and sustainability will continue to grow. As per the data from the International Trade Administration, among Gulf Cooperation Council (GCC) nations, the UAE is the leader in e-commerce, with a record-breaking $3.9 billion in e-commerce sales in 2020, representing 10% of total retail sales and a 53% increase. As per the data from the Government of South Africa, when expressed at constant 2019 prices, the food and beverage industry's total revenue grew by 14.9% in February 2023 when compared to February 2022. Positive annual growth rates were recorded for bar sales (35,5%) and food sales (13,8%). Thus, the rising food and beverage sector and e-commerce proliferation in LAMEA will help in the expansion of the regional market.
Free Valuable Insights: The Worldwide Packaging Coatings Market is Projected to reach USD 5.7 Billion by 2031, at a CAGR of 4.5%
Based on Packaging Type, the market is segmented into Flexible Packaging, Rigid Packaging, and Others. Based on End-use, the market is segmented into Food & Beverages, Cosmetics, Consumer Electronics, Pharmaceuticals, and Others. Based on Resins, the market is segmented into Epoxies, Polyurethane, Acrylics, Polyolefins, Polyester, and Others.Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Packaging Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By End-use (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Resins (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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