Dublin, May 30, 2024 (GLOBE NEWSWIRE) -- The "Can Coatings - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Can Coatings Market to Reach $2.7 Billion by 2030
The global market for Can Coatings estimated at US$2.1 Billion in the year 2023, is projected to reach a revised size of US$2.7 Billion by 2030, growing at a CAGR of 3% over the analysis period 2023-2030. Epoxy Can Coatings, one of the segments analyzed in the report, is projected to record 1.4% CAGR and reach US$1.2 Billion by the end of the analysis period. Growth in the Acrylic Can Coatings segment is estimated at 4.9% CAGR for the next 8-year period.
The global can coatings market is projected to see significant activity and growth by 2024, with key competitors holding varying market shares. The market prospects and outlook indicate robust demand driven by several key trends and innovations.
An analysis by type and application reveals diverse uses of can coatings across different sectors, with a notable emphasis on aerosol cans as a novel end-use vertical. Regional analysis shows varied growth patterns, with specific regions leading in adoption and market share.
The competitive scenario in the can coatings market is dynamic, with recent market activities highlighting ongoing innovations. These innovations are not only encouraging the uptake of metal cans but also enhancing the overall demand for can coatings. Advanced and eco-friendly can coatings are becoming increasingly important as the market shifts towards sustainable solutions.
Trends in convenience foods are also steering growth in food canning, thereby creating more opportunities for can coatings. As the market evolves, companies are focusing on developing advanced coatings that meet both functional and environmental standards, ensuring they capture emerging opportunities and address consumer demands for sustainability and safety.
The U.S. Market is Estimated at $587 Million, While China is Forecast to Grow at 3.9% CAGR
The Can Coatings market in the U.S. is estimated at US$587 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$376.4 Million by the year 2030 trailing a CAGR of 3.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 2.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 359 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $2.1 Billion |
| Forecasted Market Value (USD) by 2030 | $2.7 Billion |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Global |
MARKET OVERVIEW
- Can Coatings - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- An Introduction to Can Coatings
- Global Market Prospects & Outlook
- Key Market Trends
- Analysis by Type
- Analysis by Application
- Regional Analysis
- Competitive Scenario
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Novel Opportunities Identified in Aerosol Cans End-Use Vertical
- Innovations Encourage Metal Can Uptake, Enhance Demand for Can Coatings
- Advanced & Eco-Friendly Can Coatings Seek Role
- Convenience Food Trends Steer Food Canning, Revving Up the Opportunities for Can Coatings
- Interior Can Coatings Hold Critical Significance in Preservation of Canned Foods
- Epoxy Remains Prominent Food & Beverage Can Coating Option despite Health Concerns & Negative Publicity
- Soaring Demand for Canned Fruits & Vegetables Improves Market Uptake
- Changing Food Habits Influence Demand Dynamics of Canned Fruits Market
- Rapidly Evolving Image of Canned Organic Foods Bodes Well
- Healthy Tide in Food Retail Augments Demand for Cans, Benefiting the Can Coatings Market
- Growing Relevance of Retail Ready Packaging to Benefit the Market
- Established Image of Beverage Cans Enthuses Market Prospects
- Global Volume Consumption of Packaged Beverages (in %) by Beverage Type for Years 2019 & 2025
- Energy Drinks, Soft Drinks, & Beer Widen the Demand for Beverage Cans
- Established Image of Steel Cans Augments Prospects
- Favorable Demographic & Macro Trends Strengthen Market Prospects
- World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
- Top Countries Worldwide in Terms of Population in Millions for the Years 1990, 2019 and 2050
- Rapid Urbanization to Drive Demand Prospects
- World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050P
- Burgeoning Middle Class Population
- Global Middle Class Population (in Millions) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
- Decelerating Demand for Cans in Chilled & Frozen Food Products Niggles Market Momentum
- Growing Concerns over Use of BPA in Can Coatings: Major Issue
- Study Indicates Overestimated Migration of BPA from Can Coating into Real Beverages
- Lack of Feasible Substitutes to Epoxy
- Issues & Challenges Hampering the Metal Cans Industry Wield Parallel Negative Impact on Can Coatings Market
- Detection of Lead in Canned Foods with Tin Coating Calls for Urgent Regulatory Action
FOCUS ON SELECT PLAYERS (Total 29 Featured)
- Eastman Chemical Company
- Wacker Chemie AG
- DIC Corporation
- Ball Corporation
- Flint Group
- Carl Schlenk AG
- Sam Young Ink & Paint Mfg. Co., Ltd.
- Hexion, Inc.
- ELANTAS GmbH
- VPL Coatings GmbH & Co KG
- Eagle Chemicals
For more information about this report visit https://www.researchandmarkets.com/r/n0a0ba
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