Exclusive data from the new Smithers report - The Future of Functional and Barrier Coatings for Paper and Board to 2022 - determines that future growth will be driven by a resurgent global outlook and the greater penetration of into transition economies. The Asia-Pacific market will represent over 54% of worldwide functional and barrier coatings use by 2022, up from 46% in 2012, with Japan the only major economy in the region expected to have a reduced demand. China leads the way with 34.2% of world consumption.
"There are many demands from the market that require a growing number of substantial advances in technology, leading to greater innovation at numerous levels. Market demands for more sustainable packaging are increasing, as are regulatory requirements that are forcing companies to consider new alternatives. The rate of technology change continues to challenge the industry, and the packaging industry continues to demand new solutions from functional and barrier coating suppliers. When implementing new and innovative technologies suppliers will be required to stay relevant to the market."