Global Can Coatings Market Overview
The global can coatings market is projected to reach USD 2.65 billion by 2026, driven by changing living habits and rising demand for canned products in the food and beverage industry. Cans are essential for preserving and safely transporting products from manufacturing units to end users. The increasing popularity of packaged food and beverages is significantly boosting the can coatings market size. According to a report by Fortune Business Insights™, titled “Can Coatings Market Size, Share and Global Trend by Type (Epoxy, Acrylic, and Others), By Application (Food Cans, Beverage Cans, Aerosol Cans, and Others) and Geography Forecast till 2026,” the market was valued at USD 1.97 billion in 2018 and is expected to grow at a CAGR of 3.8% from 2019 to 2026.
Notable Market Players
- PPG Industries, Inc.
- Kansai Nerolac Paints Ltd.
- Ball Corporation
- CSC Brands, L.P.
- Axalta Coating Systems
- National Paints Factories Co. Ltd.
- Toyochem Co. Ltd.
- IPC GmbH & Co. KG
- VPL Coatings GmbH & Co KG
- The Sherwin-Williams Company
- Kupsa Coatings
Report Scope
The report provides a comprehensive overview of the market, highlighting key growth factors, challenges, opportunities, and competitive landscape. It covers market segmentation by type, application, and geography. Additionally, it discusses strategies adopted by market players to gain a competitive edge and current market trends.
Market Drivers
Increased Demand from Personal Care Products
The growing food and beverage industry, driven by the need to feed a rising population, is a major factor boosting the can coatings market. Changing consumer lifestyles and the trend towards mobile food products with extended shelf life are also contributing to market growth. Can coatings are essential for preserving food, particularly in the food and beverage sector.
However, government restrictions on certain can coating technologies, VOC emission content, and the use of specific chemicals in coatings may pose challenges to market growth in the long term.
Information Source: https://www.fortunebusinessinsights.com/can-coatings-market-102537
Regional Insights
North America
North America held the dominant market share in 2018, generating $675.5 million in revenue. This dominance is due to the high demand for metal cans in industries such as personal care, pharmaceuticals, food and beverages, and chemicals.
Asia Pacific
The Asia Pacific market is expected to experience the fastest growth during the forecast period, driven by the growing population in countries like China, India, and Japan, and their increasing demand for canned food and beverages.
Europe
Europe is anticipated to see steady growth due to rising demand for health care and personal care products like deodorants, spray medications, and shaving foams. Additionally, a growing inclination towards healthy eating will support market expansion.
Competitive Landscape
Key Strategies
Leading can coatings manufacturers are moving away from harmful chemicals, opting for materials like polyester and acrylic. Companies are focusing on expanding their geographical presence, strengthening distribution channels, and launching new products to cater to diverse food and beverage categories such as soups and baby milk. These strategies aim to boost market revenue and enhance competitiveness.
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