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Can Coatings Market

Can Coatings Market

Can Coatings Market by Type (Epoxy, Polyester, Acrylic), Application (Beverage Can, Food Can, Aerosol Can, General Line Can) and Region - Global Forecast 2022 to 2032

Can Coatings Market
FACT7522MR

Can Coatings Market Outlook (2022 - 2032)

Global sales of can coatings in 2021 was held at US$ 2.3 Billion and reach a market valuation of US$ 3.3 Billion by 2032-end. With 3.3%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth.

Beverage Can is expected to be the highest revenue generating segment, projected to grow at a CAGR of over 3.6% during 2022 – 2032.

Attributes

Details

Can Coatings Market CAGR (2022 – 2032)

3.3%

Can Coatings Market Size (2022)

US$ 2.4 Bn

Can Coatings Market Size (2032)

US$ 3.3 Bn

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Revenue of Can Coatings Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032

As per the Can Coatings Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Can Coatings Market increased at around 2.7% CAGR.

Increased worldwide supply of food and beverages in cans, spike in personal care, chemical, and pharmaceutical sectors, expanding soft drink demand, and can recyclability are the primary drivers driving market expansion.

Consumer desire for foods with flavour, texture, and colour is vital in terms of consumption, and producers are now stressing upon the feasibility, availability, and health implications of different coating possibilities. Natural resins obtained from plants are utilised as coating materials. Plant resins and synthetic resins are similar, but synthetic resins are liquid monomers.

Canned foods are an important component of the world food supply, and the development of can coatings has increased the importance of state-of-the-art processes employed in the fabrication of coatings for canned bottles and food. Food and drinks, for example, must preserve their flavour and colour quality even under extreme circumstances and avoid the development of smell, colour change, look, or texture.

Coating is an essential step in the packaging process. For example, iron and steel were originally utilised in the manufacturing of tin cans. Steel cans are currently the raw material of choice for light-colored fruits and fruit juice boxes, with no need for extra organic coating.

However, inorganic coatings may permit corrosion between foods, leading to metallic alloy deterioration. Because of this, organic covers help to maintain a balanced lifestyle for food and tin.

What Factors are Propelling Can Coatings Demand?

Global Can Coating Market is primarily driven by rising demand for lightweight automobiles as a result of severe emission regulations. Thus, increasing the use of lightweight materials for improved safety and fuel economy is expected to benefit the industry throughout the forecast period.

The increased usage of paper and plastic as packaging materials is also driving the Can Coating Market forward. Another significant growth enabler is the ongoing trend of self-cleaning technology in a variety of end-user sectors throughout the world.

Government controls, on the other hand, have resulted in the prohibition or removal of chemicals from the market, resulting in the usage of counterfeit substances with harmful repercussions.

What effect had Covid-19 had on Can Coatings Market?

During 2020, the worldwide coronavirus outbreak had a moderate influence on the global food and beverage industry and thus on can coatings as well. The market's expansion is mostly attributable to a significant increase in packaged food consumption globally as a result of mobility limitations and tight lockdown policies enacted by various governments.

However, interruptions in the global food supply chain and reduced personnel in various food businesses are projected to have a negative impact on the industry.

Besides, COVID-19 also had a negative influence on the global paints and coatings sector. Regionally, the emergence of COVID-19 has resulted in a significant blow to the export-oriented economies of nations due to the closure of industrial enterprises in the country.

Construction has been decimated due to widespread social isolation, discouragement, and lockdowns. This has a profound impact on paints, coatings, and other related goods usage all over the world, and consequently on can coatings market.

Several paint and coatings firms have manufacturing sites in European and Asian nations, the pandemic's core. Paint and coatings firms are fighting to maintain their plants functioning with dwindling workforce as the epicentre shifts to the United States and Asian countries.

Manufacturing facilities in several end-use sectors have also closed, resulting in a drop in demand for paints and coatings. The automotive, aerospace, and marine sectors have been struck the hardest by the closure of manufacturing plants throughout the world.

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Region-wise Analysis

Which Region is projected to Offer the Largest Opportunity for Can Coatings Market?

Owing to the increased usage of metal cans in industries such as food and beverage, pharmaceutical, and chemical, North America leads the worldwide can coatings market. Furthermore, the abundance of raw materials in this area functions as a demand booster for can coatings market.

Country-wise Analysis

Which Country Lies at the CenterStage for Can Coatings Market Revenue?

The United States is expected to hold significant market share of US$ 1.2 Bn by the end of 2032. US dominates the business in terms of both value and volume due to the presence of major pharmaceutical, food and beverage, and chemical industries.

Category-wise Insights

Why Epoxy Holds the Largest Share Among Can Coatings Type?

Epoxy segment is forecasted to grow at the highest CAGR of over 3.6% during 2022-2032. Because of the easiness of the coating process, epoxy coatings have a substantial market share. Furthermore, government rules are tremendously influential, which adds to market growth.

Commercial demand is aided by the selection of base and primer coatings for can storage. However, a lack of cleanliness and quality awareness is impeding market expansion. The use of counterfeit items for can coating also reduces customer demand and has a detrimental impact on buyer preferences.

However, due to their toxicity, epoxy coatings are being phased out in favour of more contemporary coatings. Many governments have altered their regulations to prohibit the use of epoxy coatings. Manufacturing and food businesses have begun to replace epoxy with polyester and acrylic coatings, and non-BPA epoxy coatings are being developed. Polyester and acrylic coatings have a lot of potential in the next years.

Which Application of Can Coatings is expected to Score Highest Growth in the Coming Years?

Beverage Cans command the largest revenue as well as CAGR of nearly 3.6%, during the forecast period. Beverage cans were the most common use for can coatings, since they aid in the preservation of the product's flavour and taste.

Furthermore, beverage can players across the world must adhere to laws imposed by different regulatory organizations, including food regulators, addressing the quality of cans used for packaging. When a product comes into touch with a metal surface, these coatings aid to prevent contamination.

Beverage cans are used for both alcoholic and non-alcoholic beverages. Beverage cans create a barrier between oxygen and light, preserving the flavour and freshness of beverages. Furthermore, people like beverage cans because they cool down faster than alternative materials, such as plastics.

The increase in demand is attributable to an increase in demand for can coatings to retain taste and flavour. Beverage can makers must adhere to severe quality-control rules imposed by food regulators. This is expected to increase demand for can coatings.

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Competitive Analysis

The key market participants are taking steps to produce metallic applications in accordance with FDA regulations. Companies are concentrating on creating innovative technologies to fulfil the increased customer demand for canned goods. The leading market competitors are concentrating on the long-term viability of canned goods. New entrants in the can coatings industry are relying on marketing initiatives to offer unique canned items. These actions may contribute to the global expansion of the coatings market.

The Sherwin-Williams Company, Akzo Nobel N.V., ALTANA AG, Kansai Paint Co. Ltd, National Paints Factories Co. Ltd, PPG Industries Inc., VPL Coatings GmbH & Co KG, and VPL Coatings GmbH & Co KG are some significant competitors in the worldwide can coatings industry. Some of the recent developments of key Can Coatings providers are as follows:

  • In July 2021, PPG Industries, Inc. announced its decision to expand its Delaware, Ohio, site to increase production of varnish coatings including PPG ISENSE Gloss coatings for exteriors of beverage cans. The expansion will increase the companies' overall output of over-varnish coatings by 40%, substantially enhancing the moment in they invest to coat outside materials.
  • In June 2021, PPG Industries, Inc. stated that it will increase its aluminium and steel can coatings manufacturing capacity in the Netherlands and Poland for a variety of packaging applications such as food, beverage, and personal care products.
    • PPG INNOVEL application is promising an initiative to increase manufacturing capacity for PPG INNOVEL interior coatings used for beverage cans by 30 by the first quarter of the year 2022.
    • Furthermore, Tilson will complete implementation of extraction of salt from its Tilbian product by the end of 2021, increasing its production capacity for PPG iSENSE external coatings used on the external surface of metal cans for personal packaging and beverage distribution.
    • The business will add production capacity at its Cieszyn, Poland, plant, where it is looking to expand the PSP NUTRISHIELD line of non-BPA interior food can coatings. The facility should be accomplished by the end of the third quarter of 2021.
  • In March 2021, TOYOCHEM CO., LTD. introduced a new range of Bisphenol A non-intent (BPA-NI) internal coatings for metal beverage bottles and cans. The acrylic emulsion and polyester resins used in these novel BPA-NI interior sprays. The product will be marketed in both domestic and international markets by the corporation under the brand name Lionova.

Similarly, recent developments related to companies for Can Coatings have been tracked by the team at Fact.MR, which are available in the full report.

Can Coatings Market Report Scope

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

US$ Bn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel

Key Market Segments Covered

  • Type
  • Application
  • Region

Key Companies Profiled

  • Akzo Nobel
  • Altana
  • PPG Industries
  • Kansai Paints
  • National Paint Factories
  • International Packaging Coatings
  • Tiger Coatings
  • Toyochem
  • VPL Coatings

Pricing

Available upon Request

Market Segments Covered in Can Coatings Market Analysis

  • By Type :

    • Epoxy
    • Polyester
    • Acrylic
  • By Application :

    • Beverage Can
    • Food Can
    • Aerosol Can
    • General Line Can
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

- FAQs -

The global Can Coatings Market is worth more than US$ 2.4 Bn at present.
Value of Can Coatings Market are projected to increase at a CAGR of around 3.3% during 2022 – 2032.
Value of Can Coatings Market have increased at a CAGR of around 2.7% during 2017 – 2021.
Advanced analytical solutions designed for specific requirements of healthcare companies and facilities delivering financial, clinical, operational, and administrative services are bolstering the growth.
The market for Can Coatings Market in US is projected to expand at a CAGR of around 2.9% during 2022 – 2032.

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