IMARC Group, a leading market research company, has recently releases report titled “Can Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global can coatings market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the can coatings market?
The global can coatings market size reached US$ 2.15 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.10% during 2023-2028.
What is Can Coatings?
Can coatings are specialized coatings formulated to protect and enhance the interior and exterior of metal packaging, such as food and beverage cans. These coatings serve a dual purpose: they prevent corrosion of the metal and protect the contents from any potential contamination, thereby preserving taste, aroma, and product integrity. Characteristically, can coatings come in an array of types to suit various packaging needs and regulatory requirements. From epoxy-based and acrylic to polyester and oleoresin coatings, the choices are abundant. Some coatings also feature added characteristics like low or no volatile organic compounds (VOCs), improving their environmental footprint. A defining feature of can coatings is their functionality; their ability to adhere well to metal surfaces while providing chemical and mechanical resistance makes them an integral part of modern packaging solutions. Moreover, advancements in technology have led to the development of specialized coatings, such as those that are BPA-free or tailored for high-temperature processing, expanding their applicability and appeal.
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What are the growth prospects and trends in the can coatings industry?
The escalating demand for packaged foods and beverages represents one of the key factors driving the market growth of can coatings. In addition to this, advancements in coating technology, coupled with increasing awareness about food safety and environmental sustainability, are propelling market growth. Furthermore, a shift in consumer preference towards more durable and safe packaging solutions is contributing positively to the market. Alongside this, the convenience of canned products, particularly in fast-paced, modern lifestyles, is facilitating the market growth of can coatings. Coupled with this, the rising trend in craft beverages, partially driven by social media, is encouraging producers to invest in high-quality, aesthetically pleasing can coatings. Other factors such as increasing disposable income, growing concerns over food waste, and the emergence of specialty companies focusing on sustainable packaging solutions are collectively driving the growth of the can coatings market globally.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Acrylic
- Epoxy
- Polyester
- Others
Breakup by Application:
- Beverage Can
- Food Can
- General Line Can
- Aerosol Can
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Akzo Nobel N.V.
- Altana AG
- International Packaging Coatings GmbH
- Kupsa Coatings Pvt Ltd
- PPG Industries Inc.
- The Sherwin-Williams Company
- TIGER Coatings GmbH & Co. KG
- TOYOCHEM Co. Ltd. (Toyo Ink Mfg. Co. Ltd.)
- VPL Coatings GmbH & Co KG
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