Analysis of Tinplate Packaging market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Tinplate packaging industry has seen multiple micro trends in the recent years. Tinplate packaging manufacturers have been shifting away from the usage of BPA owing to its high toxicity in end-use industries.
Bisphenol-S (BPS) is one of the multiple alternatives that are being experimented with. Companies have also turned towards acrylic or polyester materials as replacements to BPA.
Companies have been showcasing their products as ‘free from BPA’ to increase demand. On the backdrop of these changes within the tinplate packaging market, the market is expected to register CAGR of 4.2% during the forecast period.
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Cans account for more than one third of the market share in tinplate packaging market. Demand for cans in food industry has seen a substantial spike in the recent past, due to rapid uptake of fast moving consumer products like ready-to-eat soups.
Uptick in demand from beverages industry has also been observed, and gradual growth in this demand is expected during the forecast period.
As food and beverages industry together account for more than 80% of demand for cans, increase in demand from these sectors is expected to supplement growth of the segment in tinplate packaging market.
Cans segment is expected to be the fastest growing in tinplate packaging market, reflecting a growth of 1.7X during the forecast period.
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Europe accounts for nearly one third of the value share in tinplate packaging market. The sustainable practices deployed by the regional players has substantially increased the preference of these companies.
Europe is one of the front runners in terms of recycling, which has led to significant decrease in raw material costs for the domestic players.
Europe is projected to grow at a single digit growth rate, and is expected to show prominent growth during latter half of the forecast period.
While increase in Foreign Direct Investments (FDIs) in South Asia is expected to slightly dampen the growth of tinplate packaging in Europe, Europe will maintain its share in the tinplate packaging market.
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Tinplate packaging market has been gradually growing over the years. Top players in the tinplate packaging market have been focused on increasing recyclability of their products.
Top players in the market have entered into regional collaborations through associations for increasing their efficiency in recycling.
While sustainability has been the primary driver for this impetus in recycling, significant decrease in raw material procurement costs have supplemented the proliferation of these recycling trends.
Segmentation table of the global tinplate packaging market has been provided below on the basis of product type, application, thickness, and region.
This taxonomy and the detailed table of content prepared are 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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The CAGR of over 4.2% Tinplate Packaging market
The largest segment in the Tinplate Packaging market is Application.
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