Can Coatings Market to Expand at a CAGR of ~4.15% Assessment for the Driving Factors till 2029 - PPG Industries, Valspar, Akzo Nobel

Exactitude Consultancy Market Research analyses that the Can coatings Market will witness a CAGR of 4.15% for the forecast period of 2023-2029 and is likely USD 2.27 billion in 2022 to reach at USD 3.02 billion by 2029.

Can coatings be readily made available in bio-based and biodegradable. these have replaced the harmful artificial chemical coating, which would damage the quality of food and would corrode the can, with safer green alternatives. Additionally, water-based coatings are used as an environmental solution to replace standard coatings. These water-based coating products have can coating formulations that includes grease resistance, mineral oil barrier and moisture resistance, these coatings have use in fast food packaging, frozen food packaging, metal packaging products and increase the shelf life of the product.

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Growth Drivers

Rising Growth of Metal Industry

Finished steel consumption in India is expected to climb from approximately 130 MT in FY22 to approximately 229 MT by 2030-31.

Growing Demand for Beverage Cans

One of the key causes expected to boost demand for beverage cans and, as a result, encourage the need for can coatings among beverage can makers is the rise in global beverage consumption. Each year, the United States produces over 100 billion aluminium beverage cans, or one can per person.

Increasing demand for aerosol cans will drive the market's growth

Aerosol cans have grown increasingly popular in various areas, including personal care, healthcare, and household care, which is driving up demand for aerosol cans. As a result, manufacturers are capitalising on this opportunity by increasing production of aerosol cans.

Growing Transportation Industry
Surge in Investment on Personal Care Product
Growing Urban Population

Challenges

Raw material's price fluctuation might hamper the market's growth

Raw materials like vinyl and polyester are used in the can coatings market. These are petroleum-based raw materials whose costs fluctuate due to fluctuations in petroleum prices, which may have an impact on the growth of the can coatings market over the projection period. Historically, oil prices plummeted during the pandemic. These changes in raw material prices may have an impact on the growth of the can coatings market throughout the forecast period.

Restraints

The powder form of Can Coating is inhalable, and the mixture has been recognised as carcinogenic by the International Agency for Research on Cancer due to its propensity to cause lung cancer through inhalation. This, in turn, is likely to limit the growth of the Can Coating Market.

Epoxy-based coatings have a lengthy curing period, typically taking approximately 72 hours to cure and dry entirely, which may limit their sales. Can storage may alter the taste of certain goods, and can production requires mining activities, which may reduce sales.

Prominent Key players of the Can coatings Market survey report:

Historical data available in the report elaborates on the development of the Can coatings on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - PPG Industries (US), Valspar (US), Akzo Nobel (Netherlands), ALTANA (Germany), KANSAI PAINT (Japan), Toyochem (Japan), National Paints Factories (Jordan), International Packaging Coatings (Germany), TIGER Coatings (Germany), and VPL Coatings (Germany).

Industry News

8 NOVEMBER 2022, Starbucks has collaborated with Landor & Fitch to redesign its ready-to-drink portfolio for chilled coffee products, aiming to facilitate distinctiveness for the brand and build 'stronger emotional connections' with the drinks amongst its consumers.

March 02, 2022 - Industry leading paint and coatings brand Valspar® announces a new line of exterior paint & primer called Valspar® Defense™. This innovative offering provides extreme protection through advanced water-beading technology to repel water year-round and help prevent moisture damage. Valspar® Defense™ Exterior Paint & Primer is available exclusively at Lowe's® stores nationwide and online at Lowes.com.

July 13, 2022 - The ALTANA Innovation Award honors the most promising new developments in the Group, and has done so for ten years. On this anniversary, a team from the ACTEGA division received the award. This year's prize went for an invention called ROTARflow. This technology, which is unique on the market, improves the efficiency of food and beverage ends' production and thus makes it more sustainable.

Can coatings Market Segmentation:

Can Coatings Market by Type, 2023-2029, (USD Billion), (Kilotons)

» Epoxy

» Acrylic

» Polyester

» Others

Can Coatings Market by Application, 2023-2029, (USD Billion), (Kilotons)

» Food Can

» Beverage Can

» Aerosol Can

» General Line Can And

» Other

The regional outlook by revenue covers the countries namely:

✦ North America (United States, Canada and Mexico)

✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

✦ South America (Brazil, Argentina, Colombia, and Rest of South America)

✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Key Features of the Can coatings Market Report: -

⇨  Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.

⇨  Examine the market opportunities for stakeholders by identifying higher growth sections.

⇨  To study and analyse the global Can coatings industry status and forecast including key regions.

⇨  An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

⇨  It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

⇨  It helps you make strategic business decisions and investment plans.

Competitive Landscape

Competition has been growing for the Can coatings industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.

► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.

► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.

► Company History: The development of predominant occasions associated to the company.

► Main merchandise and services: A listing of the company's fundamental products, services, and brands.

► Main Competitors: A listing of the company's fundamental competitors.

► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.

Table of Contents

Global Can coatings Market Research Report 2023-2029

1 Can coatings Market Overview

1.1 Product Overview and Scope of Can coatings

1.2 Can coatings Segment by Type (Product Category)

1.3 Global Can coatings market Segment by Application

1.4 Global Can coatings Market by Region (2023-2029)

1.4.1 Global Can coatings Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)

1.4.2 North America Status and Prospect (2023-2029

1.4.3 Europe Status and Prospect (2023-2029)

1.4.4 China Status and Prospect (2023-2029)

1.4.5 Japan Status and Prospect (2023-2029)

1.4.6 Southeast Asia Status and Prospect (2023-2029)

1.4.7 India Status and Prospect (2023-2029)

1.5 Global Market Size (Value) of Can coatings (2023-2029)

1.5.1 Global Can coatings Revenue Status and Outlook (2023-2029)

1.5.2 Global Can coatings Capacity, Production Status and Outlook (2023-2029)

…

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