Global Can Coatings Market To Record Heightened Growth Opportunities During Forecast Period : Fact.MR

The global Can Coating market is valued at US$ 2.3 Bn in 2021 and is expected to reach US$ 3.3 Bn by 2032, expanding at a CAGR of 3.3% between 2022 and 2032. According to Fact.MR, a market research and competitive intelligence provider, global Can Coating consumption has increased at a CAGR of roughly 2.7% over the last half-decade.

Can coatings are chemicals that are applied to various types of cans to increase or improve adhesion, resistance, and flexibility. Cans are made from a variety of metals, including aluminium, tin, zinc, and others, and are used for storage, warehousing, and transportation. Can coating is used to improve properties such as hardness, resistance, flexibility, and adherence of the cans. Can coatings is also used to decrease the contact of food and beverage items with the cans directly.

Epoxy can coatings are extensively employed in a variety of applications and account for the lion's share of the entire market. However, due to toxicological research and regulatory restrictions put out by various regulating authorities, manufacturers have been substituting epoxy-based coatings with other options in recent years.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 - https://www.factmr.com/connectus/sample?flag=S&rep_id=7522

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

𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 𝗳𝗿𝗼𝗺 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝘁𝘂𝗱𝘆
• Can Coatings Market was valued at US$ 2.3 Bn in 2021. According to Fact.MR, Can • Coatings Market revenue would increase 1.5X between 2022 and 2032, reaching roughly US$ 3.3 Bn in 2032.
• In terms of Application, the Beverage Can accounts for the highest projected CAGR of over 3.6%.
• In terms of Types of Can Coatings, Epoxy accounts for the highest CAGR of 3.3% during the historic period (2017-21).
• US is the dominant region in Can Coatings Market with an absolute dollar growth opportunity of over US$ 295.2 Mn.

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝗦𝗽𝗲𝗰𝗶𝗳𝗶𝗰 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀 - https://www.factmr.com/connectus/sample?flag=RC&rep_id=7522

𝗪𝗶𝗻𝗻𝗶𝗻𝗴 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆

The increase in demand for can coatings by the food and beverage industries in established and emerging nations is the primary driver of the market's growth rate. Rising application areas for can coatings, such as protective and decorative aesthetics, particularly in developing economies, as well as growth and expansion of key end user industries, particularly in developing countries, will also have a direct and positive impact on the market's growth rate.

Rising demand for epoxy coatings especially in the developing economies, growing expenditure for research and development proficiencies by the key companies, and upsurge in the rate of industrialization has been propelling the can coatings market ahead. Furthermore, rising application of ceramic coatings in marine and automotive applications, and rising availability of multifunctional coatings with improved aesthetics will further carve the way for the market growth.

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗘𝗻𝘃𝗶𝗿𝗼𝗻𝗺𝗲𝗻𝘁

The prominent market participants are taking steps to produce metallic applications in accordance with FDA regulations. Companies are focusing on developing new technologies to meet rising customer demand for canned foods. The top market rivals are focusing on canned foods' long-term viability. To provide distinctive canned foods, new entrants in the can coatings sector are depending on marketing campaigns. These activities may help to drive the global growth of the coatings industry.

Some major rivals in the global can coatings market are 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. Product innovation is a defining feature of the global industry. Top Can Coatings manufacturers are focusing on mergers and acquisitions as well as capacity growth. Some of the notable developments in Can Coatings Market are as follows:

𝗙𝗼𝗿 𝗶𝗻-𝗱𝗲𝗽𝘁𝗵 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀, 𝗕𝘂𝘆 𝗡𝗼𝘄 - https://www.factmr.com/checkout/7522

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.

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