by Heat seal coatings are specialty coatings applied to the packaging films or materials in order to seal two films or film and product using heat and pressure. Heat seal coatings find major application in food and beverage packaging such as pouches, bags, and trays where packaging needs to be sealed using moderate heat and pressure without the use of solvents. The food and beverage sector requires tailored packaging solutions that provide moisture and oxygen barrier protection to the products while maintaining shelf life.
The global heat seal coatings market is estimated to be valued at US$ 9,391.09 Mn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
One of the major drivers for the growth of the heat seal coatings market is the rising demand from the food and beverage industry. Packaging plays an important role in maintaining the shelf life of food and beverage products. Heat seal coatings help in developing hygienic, flexible, and easy-opening packaging formats such as pouches, bags, and trays which are extensively utilized in the food and beverage sector. According to the European Federation of Corrugated Board Manufacturers, approximately 90% of food packaging includes heat seal coatings. Heat seal coatings provide excellent sealing performance to food and beverage packages while complying with food safety standards. The superior adhesion and seal strength properties of heat seal coatings help package contents retain their freshness for longer duration thereby extending shelf life.
Rising awareness regarding the benefits of flexible packaging among brand owners and focus on sustainability are the key factors augmenting the growth of the heat seal coatings market. Flexible packaging is lightweight and requires less material for production compared to rigid packaging which helps in reducing carbon footprint. Recyclable and compostable heat seals coatings are gaining traction owing to stringent environmental regulations regarding single-use plastics across regions.
SWOT Analysis
Strength: Heat seal coatings provide moisture and oxygen barriers for various packaging applications. They extend the shelf life of packaged food items by preventing spoilage and help maintain freshness. These coatings offer high bonding and sealing strength.
Weakness: Strict environmental regulations on solvent-based heat seal coatings limit their use. Some heat seal coatings are not compatible with recycling processes.
Opportunity: Growing demand for packaged food and beverages from increasing population drives the need for effective sealing and coating solutions. Rising consumption of fresh and ready-to-eat meals boosts market growth.
Threats: Availability of alternative packaging methods such as cold seal coatings, induction seals pose threat to heat seal coatings market. Fluctuations in raw material prices impact the production costs.
Key Takeaways
The Global Heat Seal Coatings Market Share is expected to witness high growth. The global heat seal coatings market is estimated to be valued at US$ 9391.09 Mn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030.
Regionally, Asia Pacific dominates the market and is expected to maintain its leading position over the forecast period. China, India and other South Asian countries accounted for largest share in 2021 owing to rising food processing industry and growing demand for packaged food items from expanding middle class population. North America and Europe hold significant shares and are expected grow steadily supported by well-established food packaging industry.
Key players operating in the heat seal coatings market are Tekni-Plex, Actega, Bostik (Arkema), Henkel AG & Co. KGaA, Dow Inc., and Toyochem Co., Ltd. These companies focus on new product development and capacity expansion strategies to cater growing market needs and strengthen their market position. For instance, in 2022, Henkel partnered with Techniplas to develop new biomaterial-based heat seal coatings using renewable feedstocks.
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Source: Coherent Market Insights, Public sources, Desk research
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