Can Coatings Market Size & Share, by Type (Acrylic, Epoxy, Polyester); Application (Beverage Can, Food Can, General Line Can, Aerosol Can) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4537
  • Published Date: Mar 09, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Can Coatings Market size is projected to surpass USD 4 Billion by the end of 2035, witnessing around 5% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of can coatings was USD 3 Billion. The growth of the market can be attributed to the growing popularity of canned food and beverage. Further, the demand for canned products is influenced by increased disposable income and busy lives. As canned food is so convenient to use and consume, it is becoming more and more popular, which in turn will encourage the manufacturers of beverage cans to promote the necessity for can coatings. As per estimates, more than 90% of Americans store canned food in their households.

In addition to these, factors that are believed to fuel the market growth of can coatings include the increasing growth of the metal industry. There is a growing consumer demand for metal packaging as more and more people are readily consuming canned food and beverages. For beverage containers, metal packaging works best since it is easy to cool, great for keeping the contents fresh, and prevents breakages in transport owing to the material's durability. Additionally, can coatings are used in metal packing items owing to their qualities, such as resistance to acidic chemicals and meals. Moreover, as metal is a very sustainable material, it can be recycled endlessly and is easily moldable into a variety of designs. It also offers good protection against light, gas, and moisture.


Can-Coatings-Market-scope
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Can Coatings Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Demand for Epoxy Coating– Paint and coating industries are increasingly using the epoxy coating. Epoxy-based powder coatings have seen tremendous growth as a result of the rising demand for environmentally friendly paints. For instance, China has seen tremendous growth in the use of epoxy resins for coatings, and demand is anticipated to increase by more than 4% per year by 2026.

  • Rising Spending on Personal Care Products– The demand for cosmetics and skin care products is estimated to drive market growth. For instance, beauty and personal care goods including skin care, makeup, and hair care are becoming a crucial element of everyday grooming. As of 2022, sales of skincare products increased by more than 10% in the United States.

  • Increasing Population in Urban Areas – According to the United Nations, 55% of the world's population currently resides in cities. It is anticipated that the percentage would increase to 68% by 2050.

  • Surging Need for Aerosol Cans– Aerosol cans are portable and compact. The aerosol cans are being increasingly used in several industries, including personal care, healthcare, and household care.  Further, aerosol packaging is also used in the personal care industry since it has a low carbon footprint, and is recyclable. North America accounted for more than 20% of worldwide consumption of aerosol cans as a result of their widespread usage.

Challenges

  • Lack of Sufficient Raw Materials for Demand and Supply - The can coatings industry uses raw materials like vinyl and polyester, which are petroleum-based raw resources, and as a result of changes in the price of petroleum, the producers of for coatings have been announcing price rises. The volatility in price is anticipated to have an impact on the market. As a result, it is predicted that this factor would restrain market expansion throughout the projection period.
  • Strict Rules and Regulations by the Government
  • Increasing Geopolitical Problems

Can Coatings Market: Key Insights

  Base Year

  2022

  Forecast Year

  2023-2035

  CAGR

  ~4%

  Base Year Market Size (2022)

  ~ USD 3 Billion

  Forecast Year Market Size (2035)

  ~ USD 4 Billion

  Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Can Coatings Segmentation

Application (Beverage Can, Food Can, General Line Can, Aerosol Can)

The global can coatings market is segmented and analyzed for demand and supply by application into the beverage can, food can, the general line can, aerosol can, and others. Out of the five types, the beverage can segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the surging demand for beverage cans. For instance, there is increasing consumption of beverages such as carbonated soft drinks, beer, and cider, which has accelerated the production of cans which in turn boosts the demand for can coating. The utilization of beverages can be escalating owing to rising concerns about sustainability and imposed ban on plastic packaging. Furthermore, coatings provide cans with strong resistance to moisture and chemicals, minimizing beverage contamination brought on by metal reactions. According to projections, the market share of cans for American beer and hard soda climbed by more than 60%.

Type (Acrylic, Epoxy, Polyester)

The global can coatings market is also segmented and analyzed for demand and supply by type into acrylic, epoxy, polyester, and others. Amongst these three segments, the epoxy segment is expected to garner a significant share. Epoxy is used in beverage cans, which is gaining popularity as they provide longer shelf life. Epoxy coatings make cans corrosion-resistant and eliminate any metal residues that can cause food poisoning. Furthermore, epoxy is also, used to create floors, adhesives, plastics, paints, varnishes, and more owing to its strong properties.

Our in-depth analysis of the global market includes the following segments:

      By Application

  • Beverage Can
  •  Food Can
  • General Line Can
  • Aerosol Can
  •  Others

        By Type

  • Acrylic
  • Epoxy
  • Polyester
  • Others

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Can Coatings Industry - Regional Synopsis

APAC Market Statistics

The Asian Pacific can coatings market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the increasing urbanization in the region. Growing urbanization has led to a change in the lifestyles of the people living in developing areas. Owing to a lack of time, urban households spend more money on packaged meals. Further, metal food and beverage containers, such as canned food, beer & juice cans, are becoming increasingly popular in the Asia-Pacific area owing to several advantages over other forms of packaging, including improved product protection, durability, sustainability, affordability, and others. As of 2030, more than 50% of the people in Asia would live in cities.

North American Market Forecast   

The North American can coatings market, amongst the market in all the other regions, is projected to have satisfactory growth during the forecast period. The growth of the market can be attributed majorly to the huge demand for packaged food in the region. For storing the packaged food metal cans are being used as they can be easily carried to places such as beaches, events, and festivals. Metal cans are durable, unbreakable, and can be recycled after usage. This property of metal cans has also increased their demand amongst people in the region who are conscious about the environment. Further, the popularity of energy drinks among young adults has also increased, which leads to the introduction of more new products in the market.

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Can-Coatings-Market-regional
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Companies Dominating the Can Coatings Landscape

top-features-companies
    • Akzo Nobel N.V.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • PPG Industries, Inc.
    • Valspar
    • ALTANA Divisions
    • Toyochem Co., Ltd.
    • KANSAI PAINT Co., Ltd.
    • National Paints Factories Co. Ltd.
    • TIGER Coatings GmbH & Co. KG
    • International Packaging Coatings GmbH & Co. KG
    • VPL Coatings GmbH & Co KG

In-the-news

In The News

  • PPG Industries, Inc. introduced PPG STEELGUARD coating, which provides fire protection coating with up to three hours of cellulosic fire protection created to satisfy the needs of contemporary architectural steel. Moreover, without the requirement for a top coat, PPG STEELGUARD coating effectively protects against corrosion in very corrosive atmospheric situations

  • Toyochem Co., Ltd. developed Bisphenol A non-intent interior coating for metal cans to address regulator and customer concerns about BPA's effects on consumer health and food safety. Further, acrylic emulsions and polyester resins are used to make these metal cans.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 4537
  • Published Date: Mar 09, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising spending on personal care products and the surging need for aerosol cans are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 4% over the forecast period, i.e., 2023-2035.

Lack of sufficient raw materials for demand and supply, and strict rules and regulations by the government are estimated to be the growth hindering factors for the market expansion.

The market in the Asian Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are PPG Industries, Inc., Valspar, ALTANA Divisions, Toyochem Co., Ltd., KANSAI PAINT Co., Ltd., National Paints Factories Co. Ltd., TIGER Coatings GmbH & Co. KG, International Packaging Coatings GmbH & Co. KG, VPL Coatings GmbH & Co KG, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, application, and by region.

The beverage can segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Can Coatings Market Report Scope
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