Press release
Can Coatings Market To Reach A Valuation Of US$ 3.3 Billion By 2032-End
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.
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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
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Competition Landscape
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.
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Some of the insights and market estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:
Details regarding latest innovations and development in Can Coatings and how it is gaining customer traction during the forecast period.
Analysis about the customer demand of the products and how it is likely to evolve in coming years.
Latest regulations enforced by government bodies and local agencies and their impact on growth of the Can Coatings.
Insights about adoption of new technologies and its influence on the Can Coatings expansion
Overview of the impact of COVID-19 on Can Coatings and economic disruptions caused by the pandemic.
Evaluates post-pandemic impact on the market growth during the forecast period.
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