Can Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
- Transparency Market Research
- Paints and Coatings
Cans are made up of different metals such as aluminum, tin, and electrolytic chromium coated steel. In the food and beverage industries, the inner surface of cans has a direct interaction with food or beverages. In order to minimize the interaction between the can and the food, a coating is applied. These coating help preserve the taste of the food or beverage and store it for a longer time. The major functions of a coating include preventing chemical mitigation into the food, protecting metal of the can, preserve the food, and maintain its nutritional or organoleptic properties for long periods. The coatings should also possess inert properties when used for general line and aerosol cans. The global can coating market can be segmented based on coating type, coating technology, application, and region.
Based on coating type, the can coatings market can be classified into epoxy, oleoresins, vinyl, phenolic, acrylic, polyester, and polyolefins. The epoxy coatings segment holds a major market share due to less expensive and easy coating process. However, epoxy coatings are being replaced with modern coatings due to their toxic nature. The governments of many countries have revised their norms applying bans over epoxy coatings. The manufacturing and food companies have started to replace epoxy with polyester and acrylic coatings and are even are developing non-BPA epoxy coatings. The polyester and acrylic coatings have a large potential in the near future.
In terms of coating technology, the can coatings market can be categorized into conventional solvent-borne, water-borne, UV-cured, and others. Conventional solvent-borne coating technology has the disadvantage of releasing high amounts of volatile organic compounds (VOCs). The solvent-borne technology is limited to very few companies and constitutes less market share compared to other technologies. In water-borne coating technology, water acts a main carrier and resins and organic solvents aid in viscosity control, wetting, and pigment dispersion. Water-borne coating technology is extensively employed by beverage can manufacturing companies. UV-cured technology is primarily employed for external coating of cans and is more expensive than any other technology. However, it offers the advantage of rapid curing and low process temperature. Powder coatings technologies are applied using electrostatic deposition and flame spraying and are heat-cured. Powder coating technology is slow paced and does not provide any variety in color, texture, and finish.
Based on application, the can coatings market can be classified into beverage cans, food cans, aerosol cans, and general line cans. The beverage cans segment holds a majority of the market share. Almost, 90% of the cans produced globally are either beverage cans are food cans.
Based on region, the can coatings market can be divided into North America, Europe, Middle East & Africa, Asia Pacific, and Latin America. The can coatings market is driven by the expanding food and beverage packaging industry. The U.S. alone has the production capacity of 100 billion cans per annum. Developed nations account for a major market share of the can coatings market. The market in Asia Pacific offers significant potential due to the expanding end-use industries in the region. Government regulations and norms restrain the expansion of the can coatings market in developed nations.
Key players operating in the global can coatings market include PPG Industries, Inc., The Valspar Corporation, Akzo Nobel N.V, Henkel AG & Co, National Paints Factories Co. Ltd., and Covestro AG.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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