On the back of their superior water resistance, grease & oil resistance, and compliance with food standards, barrier coated papers continue to gather preference for packaging and printing applications. Projected for a promising CAGR of more than 4% during 2022 – 2029, a new Future Market insights (FMI) report anticipates the market to receive a major boost from food, consumer electronics, and retail industry.
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Key Takeaways of Barrier Coated Papers Market Study
- Water-based coatings are gaining traction in the barrier coated papers market, surpassing solvent-based coatings. Water-based coatings are expected to count for majority of the market share by 2029, attributable to the regulatory landscape, limited recyclability, and slow degradation of solvent-based barrier coated papers.
- Packaging is estimated to account for a significant share in the global barrier coated papers market. More than 95% of the paper packaging used for beverage packaging, and majority of the food wraps, cups, and lids used in the food industry are barrier-coated.
- The food industry is identified as the key end-user for the barrier coated papers market, as packaging of confectionery, dairy, and snacks requires oil & grease resistant papers for lining boxes.
- North America accounts for nearly 30% of the global barrier coated papers market. The market in North America is expected to lose some market share in the barrier coated papers market to developing regions, especially South Asia and East Asia. This shift can be attributed to robust growth in consumption of packaged food and retail industry in these regions.
- Wider adoption of sustainable barrier coatings is anticipated to be a key trend in the barrier coated papers market. Bio-based plastics as coating materials are gaining significant traction and are expected to become more cost-effective.
Manufacturers in the barrier coated papers market can leverage the remunerative growth potential offered by nascent bio-based materials. Capacity addition and introduction of cost-effective barrier coatings for paperboard converters can create significant opportunities for all players operating across the value chain.
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Who Is Winning?
Paper packaging giants such as Stora Enso Oyj., UPM-Kymmene Oyj, Sappi Ltd., Billerudkorsnas AB, and Mitsubishi Paper Mills Limited are some of the prominent players operating in the global barrier coated papers market. Coating companies and paperboard converter companies are collaborating to develop innovative barrier coated papers.
- In November 2022, Stora Enso Oyj collaborated with HS Manufacturing Group (HSMG), a manufacturer of plant-based barrier coatings, to produce Stora Enso’s formed fiber offering.
- In November 2022, Smurfit Kappa collaborated with Mitsubishi HiTec Paper, to develop an innovative and recyclable food-safe packaging solution. The outer board-based packaging is made from Smurfit Kappa’s MB12 packaging solution and the inner packaging contains Mitsubishi HiTec Paper’s BARRICOTE barrier coated papers.