High-End Can Coatings Market Report by 2026, Fortune Business Insights™
The global can coatings market size isprojected
to reach USD 2.65 billion by
2026,on account of change in living habits and rising demand for canned
products from the food and beverage industry. Cans are used for preserving
products and storing them for safe transport from manufacturing units to the
end user. The increasing popularity of packaged food and beverage products is a
significant factor boosting the can coatings market size. More information on
the market is provided in a recently published 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 can
coatings market size value was USD
1.97 billion in 2018 and is expected to rise at a CAGR of 3.8% between 2019 and
2026
What
is the Scope of the Report?
The report offers a 360-degree
overview of the market and its growth parameters, such as factors promoting,
demoting, challenging, and creating opportunities for the market. It also
offers details about market segmentation based on factors such as type,
application, and geography, and the overall competitive landscape of the can
coatings market.The report discusses the names and strategies adopted by
players operating in the market to gain a competitive edge in the market. The
report also throws light on current can coatings market trends are available
for sale on the company website.
Market Drivers
Rise in Demand
from Personal Care Products to Add Impetus to Market
The increasing demand from the food
and beverage industry to feed the growing population is amajor factor promoting
the can coatings market growth. Moreover, change in consumer lifestyle, and
increasing trend of mobile food products with an extended shelf life is also
augmenting the market. Can coatings are utilized both on the exterior and
interior surface for preserving food for a longer period, especially in cases
of food and beverage products.
However, government restrictions on specific
can coating technology and application methods, use of VOC emission content,
solvents used, resins, and other can coating formulation in chemicals and
materials that may cause health problems may cause hindrance to the overall
market in the long run.
Regional
Segmentation:
North
America to Dominate Market with Increasing Demand for Metal Cans
From a geographical viewpoint, North
America is holding the dominant can coatings market share with a revenue
generation of $675.5 million in 2018. This growth is attributable to the
increasing demand for metal can for packaging from industries such as personal
care, pharmaceutical, food & beverage, chemical, and others. On the other
side, Asia Pacific market is likely to witness the fastest growth in the
forecast period on account of the growing population in nations such as China,
India, Japan, and others and their increasing demand for food and beverage, and
other canned products.
Furthermore, the market in Europe is
expected to witness steady growth on account of the rise in demand for health
care, personal care such as deodorants, spray medication, shaving foams, and
others. Additionally, the increasing inclination towards healthy eating will
also aid in the expansion of the market in the long run.
INFORMATON
SOURCE:
https://www.fortunebusinessinsights.com/can-coatings-market-102537
Competitive
Landscape:
Expansion
of Product Portfolio- Key Strategy Adopted by Players
Major can coatings manufacturers are
excluding harmful chemical materials for production and including elements such
as polyester and acrylic for can production. Besides this, producers are
focusing on geographical expansion, strengthen their distribution channels, and
product launches for exceptional food and beverage variety such as soups,
baby-milk, and others to attract high can coatings market revenue on the one
hand and emerge dominant in the market competition on the other.
List
of NotableMarket Players:
·
PPG Industries, Inc.
·
Kansai Nerolac Paints Ltd.
·
BALL CORPORATION
·
CSC BRANDS, L.P.
·
Axalta Coating Systems
·
National Paints Factories Co. Ltd.
·
CSC BRANDS, L.P.
·
TOYOCHEM CO. LTD.
·
IPC GmbH & Co. KG
·
VPL Coatings GmbH & Co KG
·
The Sherwin-Williams Company
·
Kupsa Coatings
Get
Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/can-coatings-market-102537
Major Industry DevelopmentsofCan Coatings Market
Include:
March
2016 – Campbell
Soup Company declared the advent of polyester
and acrylic materials into their can lining and withdrawal of manufacturing
cans with Bisphenol A (BPA) lining content.
October
2015 – New generation coatings
was launched by PPG Industries with the product names NUTRISHIELD and
Nutrishield SOLISTA for internal protection spray coatings used in wall-ironed
food cans. This product will be utilized in products such as infant foods, pack
ready meals, soups, and other food products in the food-can business.
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