Dublin, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The "Tinplate Market Share, Size, Trends, Industry Analysis Report, By Product Type, By Grade, By End-Use Application, By Region, Segment Forecast, 2023 - 2032" report has been added to ResearchAndMarkets.com's offering.
The global tinplate market is poised for significant growth, with an anticipated market size of USD 217.05 billion by 2032, according to the latest report. This comprehensive study, which delves into the dynamics of the current market and offers insights into future growth prospects, highlights several key factors contributing to the market's expansion.
Tinplate, recognized for its recyclable and environmentally friendly attributes, has experienced growing adoption as a packaging material, particularly in the food industry. The exponential increase in global consumer numbers has driven substantial demand for tinplate packaging. Additionally, economic growth and rising per capita income in developing nations, coupled with a fervor for innovation and product advancement, further bolster market demand.
One notable example of market expansion is the Tinplate Company of India's recent announcement in April 2023. The company unveiled an ambitious expansion project set to increase its capacity by approximately 300,000 tpa, reaching a total capacity of 715,000 tpa by the end of 2026. This expansion will feature state-of-the-art automation, enhanced safety measures, and reduced human-machine interaction.
Consolidation in the organized sector within paints and chemicals, coupled with significant infrastructure projects in both developed and developing economies, is expected to create lucrative opportunities for market players. Tailoring products to meet the specific needs of these industries will be pivotal.
The market has also witnessed the integration of advanced printing technologies such as digital printing and high-speed printing. These innovations enable intricate and detailed designs to be printed directly on tinplate cans and packaging, enhancing their visual appeal. Moreover, the use of smart embedded sensors to provide real-time information about product quality, freshness, and temperature has gained significant traction in recent years.
Key Highlights from the Tinplate Market Report:
- The double reduced segment dominated the market in 2022, driven by the global adoption of this eco-friendly alternative for packaging solutions.
- Prime grade tinplate accounted for the majority of market revenue in 2022, reflecting increased consumer demand for superior performance and aesthetics.
- The personal care segment is anticipated to experience the fastest growth in the coming years, propelled by higher per capita spending on personal care products and a growing demand for sustainable packaging.
- North America secured the largest market share in 2022, attributed to the rising adoption of packaged and canned food products and advancements in technology.
The global key market players in the tinplate industry include Sino East Steel Corporation, United States Steel Corporation, JFE Steel Corporation, Tata Tinplate, Tianjin Jiyu Steel, and Nippon Steel Corporation.
The comprehensive report segments the tinplate market based on product type, grade, application, and region.
Tinplate, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)
- Single Reduced
- Double Reduced
Tinplate, Grade Outlook (Revenue - USD Billion, 2019 - 2032)
- Prime Grade
- Secondary Grade
- Others
Tinplate, Application Outlook (Revenue - USD Billion, 2019 - 2032)
- Food & Beverage
- Personal Care
- Aerosols
- Paints
- Battery Jackets
- Chemicals
- Others
Tinplate, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Key Attributes:
- No. of Pages: 112
- Forecast Period: 2023 - 2032
- Estimated Market Value (USD) in 2023: $149.5 billion
- Forecasted Market Value (USD) by 2032: $217.05 billion
- Compound Annual Growth Rate: 4.2%
- Regions Covered: Global
Companies Mentioned
- Toyo Kohan Co. Ltd.
- Tata Tinplate GPT Steel Industries Ltd.
- JFE Steel Corporation
- ArcelorMittal S.A.
- Sino East Steel Enterprise Ltd.
- Tianjin Jiyu Steel Co. Ltd.
- Tinplate Co. of India Ltd.
- United States Steel Corporation
- JSW Steel Ltd.
- POSCO Group
- Thyssenkrupp AG
- Jiangsu Shagang Group Su
- Massilly Holding SAS
- Berlin Metals
- Hyundai Steel
- Ardagh Group
- Nippon Steel Corp.
For more information about this report visit https://www.researchandmarkets.com/r/hgveos
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
