Analysis of Metal Packaging Coatings market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global metal packaging coatings market is poised to embark on a positive growth trajectory, registering a CAGR of ~5% across the forecast period (2020-2030). Premiumization has emerged as an ultimate choice across various sectors in the beverage packaging industry. Brand owners are seeking to draw in buyers by offering items positioned on luxurious platforms, thus augmenting demand for package coating.
Momentum towards premium packaging in the food and beverage industry is set to amplify the market’s growth during the forecast period. Increasing attention towards glossy colors, images and graphics on the final packaged products are set to boost the consumption of metal packaging coatings.
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In terms of value and volume, beverage cans dominated the metal packaging coatings market through the historical period and are projected to retain their supremacy over other products. Beverage cans are set to account for over half of the global demand by 2030. This scenario will prevail in the foreseeable future. Beverage cans segment is poised to expand at a CAGR of ~4% during the forecast period.
Furthermore, the popularity of multilayer films constructed with substrates and coatings is surging. This is attributed to its usefulness in improving shelf life without losing product aroma. Based on the aforementioned trends, the global metal packaging coatings market shall yield lucrative opportunities for market players.
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Europe, being the largest beer producer, is set to lead the consumption of metal packaging coatings, accounting for over one third of the global consumption by 2030. The projected growth is attributed to increasing demand for canned drinks and foods in countries like Germany, Italy, Spain, and the United Kingdom.
Following Europe is Latin America, expanding at a growth rate of ~5% over the forecast period. Alone, Brazil’s beverage industry was valued at around US$ 22 Bn in 2019, constituting a majority of the regional growth during the historical period. Adoption of modern machines and high investments in technological advancements by the Brazilian food and beverage industries will fuel the Latin American metal packaging coatings market during the forecast period.
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As the market for packaging coatings has witnessed high demand worldwide, prominent brands have established their wider geographical footprint. From a supply perspective, the metal packaging coatings market is highly concentrated in which top three players accounted for over one third of the global sales in 2019. Akzo Nobel N.V., Dow and PPG Industries Inc. are identified as market leaders.
Manufacturers are focused on developing thicker paints and coatings with advanced technical characteristics that can be used in place of insulating materials, to control optimum temperature level. Further, nanotechnology is also spreading its influence in the paints and coatings industry, with hundreds of patents being filed for the coatings industry. The ones to move first will garner higher profits among their competitors.
The spread of the coronavirus has left industries bracing for impact. Nearly all countries have imposed lockdowns and strict social distancing measures. This has disrupted the demand-supply equation of multiple industries across the globe. The beverage industry, being a leading consumer of metal packaging coatings, has seen weak demand in the first two quarters of 2020. Nationwide lockdowns have resulted in plant shutdowns, affecting value chains of the metal packaging coatings industry.
Currently, Europe is a leading consumer of metal packaging coatings and also one of the worst affected regions by the coronavirus outbreak. Presently, Europe accounts for over one third of the global coronavirus confirmed cases. Consequently, its metal packaging coatings market is estimated to suffer a loss of nearly US$ 9 Mn by the end of 2020. North America is poised to experience a similar trend, estimated to suffer a loss of ~ US$ 7 Mn by the end of 2020.
“In the midst of the COVID-19 pandemic, the global metal packaging coatings market is poised to suffer a likely loss of ~ US$ 25 Mn by the end of 2020”, says the Fact.MR analyst.
Fact.MR published an exclusive forecast report for metal packaging coatings market between 2020 and 2030. The foremost objective of this report on metal packaging coatings market is to pitch spearhead insights on market scenario, demand generators and technological advancements in the metal packaging coatings market.
Also, the study on metal packaging coatings market addresses key dynamics, which are expected to diversify the sales and future prominence of metal packaging coatings market.
The report on metal packaging coatings market begins with an executive overview in which product definition has been provided. The report further proceeds with taxonomy of metal packaging coatings market elaborating on the key segments. Also, the report outlines visionary insights on dynamics metal packaging coatings market including drivers, restraints, opportunities and trends and pricing analysis along with the key buying factors for metal packaging coatings.
Supply chain analysis and pricing analysis of metal packaging coatings market along with the difference between metal packaging coatings used as per applications have also been included in the report to help the readers clearly understand the product framework map in metal packaging coatings market.
Fact.MR has segmented the metal packaging coatings market on the basis of resins, process, form, product and region.
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
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Akzo Nobel N.V., Dow and PPG Industries Inc.are the key players in the Metal Packaging Coatings Market.
The Global Market For Metal Packaging Coatings Is Anticipated To Grow At A Value CAGR Of 5% During The Forecast Period.
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