NEWARK, Del, Jan. 10, 2024 (GLOBE NEWSWIRE) -- The tinplate packaging market is expected to expand rapidly over the next ten years, reaching an estimated worth of US$ 743.1 million in 2024. One of the main reasons fueling this rise is the growing need for sustainable metal packaging solutions across various industries, including food and beverage and healthcare packaging. Throughout the projection period, automation and technological improvements in metal packaging procedures are anticipated to contribute to a CAGR of 4.40%. The market is expected to reach a valuation of US$ 1,143.2 million by 2034, indicating significant growth prospects for industry participants.
The demand for precise packaging, increased safety, and less metal scrap waste is anticipated to fuel market expansion as these elements are essential to the efficient running of companies in the steel and automation sectors.
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The market for tinplate packaging benefits from the expanding food and beverage industry and the entrance of new businesses. Food that has been packaged is in greater demand, and proper product packaging is necessary to protect it from contamination. Companies are using tinplate packaging as a result, creating new market opportunities.
Urbanization and the desire to live a healthy lifestyle have led to a strong demand for tinplate packaging. This worldwide business is driven by consumer demand for packaged and processed commodities. Due to shifting consumer preferences, increased sales of supermarket items, including frozen and chilled food, and altered lifestyles, metal packaging is becoming increasingly popular. These factors are expected to drive product demand throughout the forecast.
Aerosol cans are crucial in the tinplate packaging industry and are used in various sectors like cosmetics, industrial, automotive, health, and home care. Tinplated packing cans are popular due to their nitrogen-infused application, ensuring product consistency, quality, and longer shelf life, as new packaging methods constantly change market dynamics.
“Tinplate packaging is crucial for preserving and protecting products, particularly in the food and beverage industry. Its steel plates coat to prevent corrosion, making it a popular choice for packaging. Moreover, its versatility is evident in its use in various forms like cans, boxes, aerosol caps, and containers." says a Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Tinplate Packaging Market
- The tinplate packaging industry in the United Kingdom is predicted to grow at a stable CAGR of 4.5% through 2034.
- The metal packaging market in South Korea is projected to rise at a modest pace of 5.9% CAGR through 2034.
- The tinplate packaging industry in Thailand has the potential to increase at a modest 6.6% CAGR through 2034.
- China's metal packaging market is estimated to develop at a CAGR of 6.8% through 2034.
- The demand for tinplate packaging in India is anticipated to expand at a 7.7% CAGR through 2034.
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Competitive Landscape of the Tinplate Packaging Market
The worldwide market for tinplate packaging is constantly changing due to strategic alliances, joint ventures, product innovation, acquisitions and mergers, and innovations. These elements propel the market's continuous growth, which serves a knowledgeable clientele well-versed in technological specifics. By using strategic alliances and a variety of marketing techniques, businesses in this industry hope to grow and draw in a large consumer base. Industry participants are also shifting to online sales channels and launching fresh promotions to increase sales.
Key Companies in the Tinplate Packaging Market
- Amcor Limited
- Ardagh Group S.A.
- Alcoa Corporation
- CPMC Holdings Limited
- Rexam plc, Greif
- Toyo Seikan Group Holdings, Ltd.
- Tata Tinplate
- AJ Packaging Limited
- Ball Corporation
- Thyssenkrupp AG
- Zenith Tins Pvt. Ltd.
- Ardagh Group S.A., Guangnan (Holdings) Limited
- JFE Steel Corporation
- Colep United Kingdom Ltd
- ArcelorMittal;
- Toyo Kohan Co., Ltd
- Nippon Steel Corporation
- POSCO
- United States Steel
- Crown Holdings
- Baosteel Group
- Berlin Metals
- Henkel AG & Co. KGaA
- Ton Yi Industrial Corp
- Hegang Co. Ltd
- ChinaSteel.
Recent Developments in the Tinplate Packaging Market
- Rhodius, a manufacturing business, recently invested to extend its production line in August 2023. The firm has added a third canning line from Dortmund-based technical firm KHS to boost its production capacity.
- Rasselstein committed to providing Sika Deutschland, a specialized chemicals manufacturer, with blue mint packaging steel in June 2023. When tinplate pails are produced, the amount of CO2 emissions is reduced by 62% thanks to the bluemint steel.
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Market Segmentation
By Product Type:
- Cans
- Containers
- Lids
- Drums and pails
- Others
By End Use:
- Food Packaging
- Beverages Packaging
- Alcoholic Drinks
- Aerosol Products Packaging
- Cosmetics
- Healthcare
- Automotive
- Others
By Thickness:
- 0.13 to 0.20 mm
- 0.20 to 0.40 mm
- More than 0.40 mm
By Types:
- Prime Grade Tinplate
- Secondary Grade Tinplate
- Others
By Metal Types:
- Steel
- Iron
- Tin
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East & Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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