July 21, 2024
Heat Seal Coatings Market

The global Heat Seal Coatings Market Growth Accelerated by Rising Application in Food Packaging

Heat seal coatings are used to enhance seal strength and improve moisture resistance in food packaging applications. These coatings provide excellent adhesion to various substrate materials such as polypropylene, polyester, polyethylene and aluminum foils. They aid in extending product shelf-life by retaining freshness and taste while preventing contamination.

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, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends driving the growth of the heat seal coatings market is the rising demand from the food packaging industry. The food packaging sector is witnessing significant growth owing to the shifting consumer preference towards easily accessible and ready-to-eat food products. Heat seal coatings play a crucial role in food packaging by forming strong seals that prevent leakage and extend shelf life of food products. They ensure long term freshness of packaged food items and expand food applications of flexible packaging films. The robust seal formed by heat seal coatings reduce risks of contamination and spoilage. This has increased their adoption in food contact applications like snack foods, frozen foods, bakery & confectionery products, dairy, meats and other ready meals.

Segment Analysis
Heat Seal Coatings Market is segmented into water-based coatings and solvent-based coatings. Water-based coatings dominates the market and holds around 60% share owing to its low VOC emissions and cost-effectiveness compared to solvent-based coatings. Water-based coatings emit almost zero VOCs and are safe for the environment and worker health. The stringent regulatory norms regarding VOC emissions from coatings further propel the demand for water-based heat seal coatings.

Key Takeaways
The Global Heat Seal Coatings Market Share is expected to witness high growth during the forecast period of 2023 to 2030. 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.

North America region currently dominates the market and is expected to maintain its leading position during the forecast period. The high presence of food packaging companies in countries such as the U.S. and Canada makes North America the largest market for heat seal coatings.

Key players
Key players operating in the Heat Seal Coatings market are Tekni-Plex,Actega,Bostik (Arkema),Henkel AG & Co. KGaA,Dow Inc.,Toyochem Co., Ltd. Tekni-Plex is one of the leading players in the global heat seal coatings market. The company offers a wide range of water-based and solvent-based heat seal coating products for food and non-food flexible packaging applications. Actega is another major player focusing on developing sustainable coating solutions with reduced environmental footprint. The company’s Derquim heat seal coatings product range complies with various regulatory requirements regarding emission and toxicity.

Note:
Source: Coherent Market Insights, Public sources, Desk research
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