The ability of cans to be recycled and expansion in the food and beverage industry are the key factors driving the market growth. Can coatings are the materials that act as barriers between the can’s internal surface and inner contents, and between can’s outer surface and external environment.
Insights into can coatings market segments
Epoxy is the leading material type in the can coatings market, with revenue contribution of more than 55.0% in 2017. This is attributed to the stability, protective function, and chemical or solvent resistance of the epoxy-based coatings. Moreover, these coatings help in increasing the durability of products, ensuring food security, and creating a protective layer between foods or drinks and the metal.
Based on type, interior can coatings held a larger share in the can coatings market, with a contribution of more than 55.0% in 2017. The large-scale utilization of interior coatings in separating the canned products from the metal surface to prevent their contact is responsible for its major market share. This protects the metal against corrosion and staining as well as foods or beverages against change in color, flavor, and smell.
Beverage cans was the largest application area of can coatings during the historical period, accounting for more than 65.0% revenue in the can coatings market in 2017. This can be majorly attributed to widespread packing of beverages in cans, as these cans are easy to carry and look fancy. This high use of cans for beverage products ultimately drives the demand of can coatings and is the reason behind the category’s largest share in the market.
Can coatings market will witness the highest growth in APAC
Asia-Pacific (APAC) is expected to be the fastest growing can coatings market during the forecast period, with a CAGR of 4.4% in terms of value. Various countries of the region, such as China, India, and South Korea, are expected to witness strong economic growth in the near future, owing to huge government spending on food safety, health, hygiene, and industrial developments. Can coatings are utilized in metallic packaging for providing characteristic design, quality, aesthetic appeal, sustainability, reliability, and protection to different products of food and beverage, personal care, healthcare, and other industries. Thus, the rapid growth, development, and innovation associated with the abovementioned industries in the region is predicted to drive the APAC can coatings market.
Recyclability of cans is expected to drive the market growth
Cans are MEA nt for storage, protection, and prolonging the shelf life of variety of products such as beverages, foods, paints, medicines, and aerosol goods. These are made up of steel or aluminum, which are the most commonly recycled materials globally. Aluminum cans are 100% recyclable and the cost and energy associated with recycling it is much lower than the cost and energy incurred in obtaining it from the bauxite ore. Steel cans are also recycled without any loss of quality and reused in new products.
Materials obtained from recycling the cans are reusable in different ways such as new cans, rain gutters, window frames, beams, and bicycles. Besides, the recycling of cans has many benefits, such as sustainable development, energy saving, reduction of greenhouse gases emission, and decrease in fossil fuels usage. All these factors are shifting people’s interest towards canned products, leading to increasing use of cans, which in turn is resulting in the expansion of the global can coatings market.
Can coatings market competitive landscape
Some of the major players operating in the can coatings market are Akzo Nobel N.V., Eastman Chemical Company, ALTANA AG, Kansai Paint Co. Ltd., National Paints Factories Co. Ltd., PPG Industries Inc., TIGER Coatings GmbH & Co. KG, Toyo Ink SC Holdings Co. Ltd., The Sherwin-Williams Company, and VPL Coatings GmbH & Co KG.
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation By Material Type
1.3.2 Market Segmentation By Product Type
1.3.3 Market Segmentation By Application
1.3.4 Market Segmentation By Geography
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown Of Primary Research Respondents
22.214.171.124 By Region
126.96.36.199 By Industry Participant
188.8.131.52 By Company Type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions For The Study
Chapter 3. Executive Summary
3.1 Voice Of Industry Experts/Kols
Chapter 4. Introduction
4.1 Definition Of Market Segments
4.1.1 By Material Type
4.1.2 By Type
4.1.3 By Application
184.108.40.206 Food Cans
220.127.116.11 Beverage Cans
18.104.22.168 General Line Cans
22.214.171.124 Aerosol Cans
4.2 Value Chain Analysis
4.3 Market Dynamics
126.96.36.199 Growing Popularity Of Bpa-Ni Coatings In Developed Nations
188.8.131.52 Expanding Food And Beverage Industry
184.108.40.206 Recyclability Of Cans
220.127.116.11 Impact Analysis Of Drivers On Market Forecast
18.104.22.168 Harmful Effects Of Bpa
22.214.171.124 Impact Analysis Of Restraints On Market Forecast
126.96.36.199 High Demand From Emerging Economies
Chapter 5. Global Market Size And Forecast
5.1 By Material Type
5.2 By Product Type
5.3 By Application
5.4 By Region
Chapter 6. North America Market Size And Forecast
6.1 By Material Type
6.2 By Product Type
6.3 By Application
6.4 By Country
Chapter 7. Europe Market Size And Forecast
7.1 By Material Type
7.2 By Product Type
7.3 By Application
7.4 By Country
Chapter 8. APAC Market Size And Forecast
8.1 By Material Type
8.2 By Product Type
8.3 By Application
8.4 By Country
Chapter 9. LATAM Market Size And Forecast
9.1 By Material Type
9.2 By Product Type
9.3 By Application
9.4 By Country
Chapter 10. MEA Market Size And Forecast
10.1 By Material Type
10.2 By Product Type
10.3 By Application
10.4 By Country
Chapter 11. Competitive Landscape
11.1 Market Share Analysis Of Key Players
11.2 Competitive Benchmarking Of Key Players
11.3 Global Strategic Developments Of Key Players
11.3.1 Mergers And Acquisitions
11.3.2 Other Developments
Chapter 12. Company Profiles
12.1 Akzo Nobel N.V.
12.1.1 Business Overview
12.1.2 Product And Service Offerings
12.1.3 Key Financial Summary
12.2 Eastman Chemical Company
12.2.1 Business Overview
12.2.2 Product And Service Offerings
12.2.3 Key Financial Summary
12.3 Altana Ag
12.3.1 Business Overview
12.3.2 Product And Service Offerings
12.3.3 Key Financial Summary
12.4 Kansai Paint Co. Ltd.
12.4.1 Business Overview
12.4.2 Product And Service Offerings
12.4.3 Key Financial Summary
12.5 National Paints Factories Co. Ltd.
12.5.1 Business Overview
12.5.2 Product And Service Offerings
12.6 Ppg Industries Inc.
12.6.1 Business Overview
12.6.2 Product And Service Offerings
12.6.3 Key Financial Summary
12.7 Tiger Coatings Gmbh & Co. Kg
12.7.1 Business Overview
12.7.2 Product And Service Offerings
12.8 Toyo Ink Sc Holdings Co. Ltd.
12.8.1 Business Overview
12.8.2 Product And Service Offerings
12.8.3 Key Financial Summary
12.9 The Sherwin-Williams Company
12.9.1 Business Overview
12.9.2 Product And Service Offerings
12.9.3 Key Financial Summary
12.10 Vpl Coatings Gmbh & Co Kg
12.10.1 Business Overview
12.10.2 Product And Service Offerings
Chapter 13. Appendix
13.2 Sources And References
- Akzo Nobel N.V.
- Eastman Chemical Company
- ALTANA AG
- Kansai Paint Co. Ltd.
- National Paints Factories Co. Ltd.
- PPG Industries Inc.
- TIGER Coatings GmbH & Co. KG
- Toyo Ink SC Holdings Co. Ltd.
- The Sherwin-Williams Company
- VPL Coatings GmbH & Co KG.