Global Can Coatings Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Can Coatings Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Can coating means any protective, decorative or functional coating applied onto the surface of a can or a metal sheet or metal part which is made into a can.

Market Overview:

The latest research study on the global Can Coatings market finds that the global Can Coatings market reached a value of USD 1800.97 million in 2023. It’s expected that the market will achieve USD 1876.09 million by 2029, exhibiting a CAGR of 0.68% during the forecast period.

The COVID-19 pandemic and the Russia-Ukraine war have had a negative impact on the canning paint industry. The coronavirus pandemic has hit the industry hard by disrupting global supply and dampening downstream demand. In addition, due to the impact of the novel coronavirus epidemic on the macro economy, the price of crude oil has been affected, resulting in large fluctuations in the price of raw materials in the industry. After the COVID-19 epidemic has been alleviated, the release of suppressed downstream demand has promoted the market growth rate. However, due to the far-reaching impact of the COVID-19 epidemic on the macro economy, such as the aggravation of inflation and the widening gap between the rich and the poor, the market growth rate has been weak, resulting in a slowdown or decline in the market growth rate. In addition, the Russia-Ukraine war exacerbated the impact of the epidemic, which affected the global economic recovery to a certain extent, and Russia is a major exporter of oil, which has a certain negative impact on the industry.

Growth in the food and beverage industry

The increasing demand from food & beverage industry is expected to foster the growth for can coating market. Improving consumer lifestyle has led to a rise in mobile food products with longer shelf life, which in turn shall propel its demand in the market. Coatings on cans for food & beverages are used on both exterior and interior surface for long-lasting preservation of food and beverages content. External coatings provide product information, brand information, brand logo, trade names, manufacturer information, brand serial identification, whereas internal coatings provide limited migration and thermal stability. Many can manufacture companies are focusing on providing better coating solutions to the consumers among which the most important is corrosion resistance. Corrosion resistance is an important factor for use of coatings in food & beverage cans. These coatings serve a purpose in protecting the cans from corroding and acting as physical barriers to chemicals and moisture, thus preventing the content of food and beverage can from reacting with the metal. These factors together increase the shelf-life of food content and are therefore expected to boost the market in the forecast period.

Region Overview:

In 2022, the share of the Can Coatings market in United States stood at 31.75%.

Company Overview:

PPG Industries Inc. is one of the major players operating in the Can Coatings market, holding a share of 24.68% in 2023.

PPG Industries, Inc. supplies products for the manufacturing, construction, automotive, chemical processing, and other industries worldwide. The Company makes protective and decorative coatings, flat glass, fabricated glass products, continuous-strand fiber glass products, and industrial and specialty chemicals.

Segmentation Overview:

Among different product types, Epoxy segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Beverage Can segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Can Coatings market covered in Chapter 3:

Akzo Nobel NV
METLAC
Kupsa Coatings
The Sherwin-Williams Company
Jiangsu Yangzhou Youngeree New Materials Co., Ltd.
IPC GmbH & Co. KG
TOYOCHEM CO. LTD
PPG Industries Inc.

In Chapter 4 and Chapter 14.2, on the basis of types, the Can Coatings market from 2019 to 2030 is primarily split into:

Acrylic
Epoxy
Polyester
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Can Coatings market from 2019 to 2030 covers:

Beverage Can
Food Can
General Line Can
Aerosol Can
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)