Can Coatings Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Can Coatings Market

The Can Coatings Market size was valued at USD 1.97 billion in 2023, and the market is now projected tgrow t2.65 USD billion by 2032, exhibiting a CAGR of 3.8% during the forecast period of 2023-2030.

The pandemic has been anticipated tbe a bane for the entire industrial developments of various market and fields. This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps tstop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related tthis domain. These factors affected the Can Coatings Market growth.

It is anticipated that the market for can coatings would expand due tthe growing demand from the food and beverage sector. The market will see an increase in demand for mobile food products with extended shelf lives as a result of improved consumer lifestyles. For long-term food and beverage content preservation, coatings are applied tthe outside and inside of food and beverage cans. While internal coatings offer limited migration and heat stability, external coatings convey manufacturer information, trade names, product information, brand information, brand logos, and brand serial identification. The primary goal of many can manufacturing companies is tgive consumers superior coating options, with corrosion resistance being the most crucial. These particular growth driving factors have been recorded tattribute the Can Coatings Market Share.

It is necessary for a product market twalk with the trends in order tincreases its lucracy and profits in shares and all over revenue. The bio-based and biodegradable system replaces harmful artificial chemicals with safer green alternatives for corrosion protection in metal industries. Water-based coatings are used as an environmental solution treplace standard coatings; these coatings have formulations that include mineral oil barrier, grease resistance, and moisture and water resistance; they are used in fast food packaging, frozen food packaging, and metal packaging products and extend the shelf-life of coatings. Solvent ink is used for printing on metals, and Sigma solvent-based TIJ ink is used on metals and foils. The ink essentially cures quickly and has a decap time that is four times longer than other available inks. As a result, the inks are packaged in the original HP 45si cartridges.

Comprehensive Analysis of Can Coatings Market

The segmentation of this particular market has been divided and then further subdivided intvarious categories. The can coatings industry is categorized intepoxy, acrylic, and other materials. The largest share is accounted for by epoxy-based coatings due tincreased knowledge of the usage of metal cans for food preservation. Food, drink, aerosol, and other cans are among the market sectors for can coatings by application. During the projection period, the beverage can segment held the largest share of the can coating market because of the increased use of beverages such soda, beer, and water. The metal's surface is made smoother by these coatings.

North America holds the largest market over the forecast period, according tthe conclusions based on our research methodology. The market will be driven by the rise in metal can usage from a variety of industries, including food and beverage, pharmaceutical, chemical, personal care, and others. Furthermore, the market for can coatings is being driven by the growing use of can coatings in the aforementioned industries. The region is expected tmaintain a significant proportion during the projected period.

Global markets are fiercely competitive and highly fragmented. Due ttheir creative packaging solutions, a few group of large market companies hold a fair amount of market share. Some of the major Companies includes BALL CORPORATION (U.S.), Kupsa Coatings (Pune), Kansai Nerolac Paints Ltd. (India), The Sherwin-Williams Company (U.S.), PPG Industries, Inc. (U.S.), TOYOCHEM CO., LTD. (Japan), VPL Coatings GmbH & CKG (Germany), National Paints Factories Co. Ltd. (U.A.E), IPC GmbH & Co. KG (Germany), Axalta Coating Systems (U.S.), and CSC BRANDS, L.P. (U.S.).

In March 2021, This particular company has attributed the market growth in terms of revenue and shares system. The switch tcans free of bisphenol A (BPA) linings was finished by Campbell Soup Company. The company plans tuse cans with linings made of polyester or acrylic and sell them in both the United States and Canada.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Historical Period 2015-2017

Unit Value (USD million)

By Material Epoxy

Acrylic

Others

By Application Food Can

Beverage Can

Aerosol Can

Others

By Region North America (the U.S. and Canada)

Europe (Germany, UK, France, Italy, Spain, and the Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, and the Rest of Asia Pacific)

Latin America (Brazil, Mexico, Argentina, and the Rest of Latin America)

Middle East & Africa (South Africa, and the Rest of the Middle East & Africa)