Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Can Coatings market.
Trusted Business Insights presents an updated and Latest Study on Can Coatings Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Can Coatings market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The global can coatings market size was USD 1.97 billion in 2018, and is projected to reach USD 2.65 billion by 2026, exhibiting a CAGR of 3.8% during the forecast period from 2019 -2026.
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Cans are used for preserving products or for storage purpose, while also easing the transportation of products from one place to another. Canned food has become a staple in hospitals, kitchens, schools and supermarkets. Growing trend for packaged food & beverages shall drive the can coating market. Rising demand for healthy food & changing lifestyle among consumers has led to high consumption of canned products. Cans are coated with organic layer, that protects the can from effects of food and chemical reactions between the food and the cans metal. Food cans used for food and beverage products helps to preserve its nutritional value for long time period, thus supporting the growth of canned food & beverages, which in turn shall boost the can coatings market growth.
Utilization of Biodegradable Coatings for Canned Products
The bio-based and biodegradable system replaces harmful artificial chemicals with safer green alternatives for corrosion protection in metal industries. Additionally, water based coatings are used as environmental solution to replace standard coatings. The water based coatings products have can coating formulations that includes grease resistance, mineral oil barrier, and moisture and water resistance. These coatings have applications in fast food packaging, frozen food packaging, and increases the shelf-life of coatings.
Inkjet Printing Technology onto Coated Metal Cans
Solvent ink is used on metals for printing. Sigma solvent-based TIJ ink is used on metals, as well as foils. The ink basically cures rapidly and has decap time four times than other inks available. Thus, the inks come in packaging of genuine HP 45si cartridges.
Growth in the Food & Beverages Industry
The increasing demand from food & beverage industry is expected to foster the growth for can coating market. Improving consumer lifestyle has led to a rise in mobile food products with longer shelf life, which in turn shall propel its demand in the market. Coatings on cans for food & beverages are used on both exterior and interior surface for long-lasting preservation of food and beverages content. External coatings provide product information, brand information, brand logo, trade names, manufacturer information, brand serial identification, whereas internal coatings provide limited migration and thermal stability.
Many can manufacture companies are focusing on providing better coating solutions to the consumers among which the most important is corrosion resistance. Corrosion resistance is an important factor for use of coatings in food & beverages cans. These coatings serve a purpose in protecting the cans from corroding and acting as physical barriers to chemicals and moisture, thus preventing the content of food and beverage can from reacting with the metal. These factors together increase the shelf-life of food content and are therefore expected to boost the market in the forecast period.
Regulatory Controls on the Composition of Can Coatings to Restrict Market Growth
Internal coatings on food & beverages cans, in particular, must gratify a number of requirements in relation to impenetrability and reaction between coating constituents and food components. Constituents of the coatings include pigments, solvents, resins, and additives. Moreover, governmental regulations over coating materials, application method, and VOC emission content for food & beverages can that may result in health problems. These are certain risk factors that can restraint the market in future.
By Material Analysis
Epoxy Based Coatings Dominated the Market during the Forecast Period
Based on material, the can coatings market is classified into epoxy, acrylic, and others. Epoxy based coatings accounts for the major share on account of growing awareness about the use metal cans for food preservation. Epoxy coatings are easy to apply, flexible, adhering to metal surfaces, and are cost effective. This helps in making the can resistant to corrosion, and prevents metal traces leading to food poisoning. An internal epoxy coating allows complete safe sterilization at high temperature and an airtight seal. These resins can also withstand numerous shape-shifting processes during can manufacturing. These factors together are driving the can coatings market growth. Acrylic coatings are also gaining traction as they provide a clean appearance, sulfide stain resistance, and display corrosion.
By Application Analysis
Beverage Can Coating Accounted for the Major Share
By application, the Can Coating market segments include food can, beverage can, aerosol can, and others. Beverage can segment accounted for the major can coating market share during the forecast period due to high consumption of beverages such as beer, water, soda, and others. These coatings smooth out the metal surface. As most of the beverages contains carbon dioxide inside, coatings are done to make sure that the gas has no micro bumps.
Coatings also offers heavy-duty moisture and chemical resistance to cans, and protects beverages from getting contaminated by reacting with the metal. This has caused an increased demand for coatings from the food & beverage industry. Additionally, increasing consumption from growing economies due to rapid improving lifestyle, rising disposable economy, urbanization is expected to propel the market in the forecast period.
The findings based on our research methodology indicate that North America is holding the largest can coatings market share during the forecast period. Rise in consumption of metal can from various industries such as food & beverages, pharmaceutical, chemical, personal care, and others will drive the market. Additionally, the increasing application for coatings of cans for the industries mentioned above are propelling the market for can coatings.
Europe is expected to witness significant growth due to rising demand from personal care, food and beverage, and health care industries. Personal care industry is majorly impacting the market positively in the region due to improving lifestyle of consumers. that has further increased the usage of personal care products such as shaving foams, deodorants, and spray medication.
Asia Pacific is expected to be the fastest growing market during the forecast timeframe. Rising population and urbanization in the region, is increasing the demand for food & beverages, and others canned products. Developing economies such as India, Japan, and China led to rise in consumption of canned food & beverages, thus resulting in high demand for can coatings. These factors will be supporting the growth of can coating market.
KEY INDUSTRY PLAYERS
Some of the key market players operating in the industry are Ball Corporation, Kupsa Coatings, Kansai Nerolac Paints, The Sherwin-Williams Company, and PPG Industries. The major players in the can coatings market have developed strong regional presence, distribution channels, and product offerings. Companies are forming strategies to expand their business and enhance product portfolio to create opportunities in the value chain.
Key Players to Uphold their Market Position Across Different Can Coatings related Areas
The majority of can coatings market share is consolidated among the regional manufacturers to enhance their business offerings. Major players are adopting strategies such as new product launch & development to enhance their market presence. Additionally, companies are increasing the production and sale of the existing products in order to gain a competitive edge in the market.
List of Key Companies Profiled:
- BALL CORPORATIONKupsa Coatings
- Kansai Nerolac Paints Ltd.
- The Sherwin-Williams Company
- PPG Industries, Inc.
- TOYOCHEM CO., LTD.
- VPL Coatings GmbH & Co KG
- National Paints Factories Co. Ltd.
- IPC GmbH & Co. KG
- Axalta Coating Systems
- CSC BRANDS, L.P.
KEY INDUSTRY DEVELOPMENTS:
March 2016 – Campbell Soup Company completed the transition to cans that does not use Bisphenol A (BPA) linings. The company will be using cans with acrylic or polyester linings and will sell them across its U.S. and Canadian regions.
The can coatings market report offers qualitative and quantitative insights on the can coatings industry and the detailed analysis on size & growth rate for all possible segments within it.
Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights offered in the report are the current trends of can coatings by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porters five forces analysis, business strategies adopted by leading market players, macro and micro-economic indicators, and key industry trends.
An Infographic Representation of Can Coatings Market
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Report Scope & Segmentation
- Food Can
- Beverage Can
- Aerosol Can
- North America (the U.S. and Canada)
- Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, and the Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina, and the Rest of Latin America)
- Middle East & Africa (South Africa, and the Rest of the Middle East & Africa)
Quick Read Table of Contents of this Report @ Can Coatings Market Size, Share & Industry Analysis, By Type (Epoxy, Acrylic, and Others), By Application (Food Cans, Beverage Cans, Aerosol Cans, and Others) and Regional Forecast, 2020-2029-(Includes Business Impact of COVID-19)
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