“Emerging countries are experiencing fast economic growth in multiple sectors that use containers”, says Visiongain
15 October 2019
Visiongain’s new report the Can Coatings Market Report 2020-2030: Forecasts by Type (Epoxy, Acrylic, Polyester, Oleoresins, Vinyl, Alkyd, Polyolefin), By Application (Food Cans, Beverage Cans, General Line Cans, Aerosol Cans), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and analysis of leading companies operating in this industry.
Can coatings are mainly used in metal packaging to improve flexibility, adhesion and strength as well as enhance. In addition, this product is used for elasticity, hardness, strength, and adhesion in the metal shaping method. Furthermore, metal packaging materials can use coatings due to characteristics such as resistance to acidic additives and foods. Globally, these products are used in different end-use sectors as they provide safety and ornamental aesthetics mainly for metal packaging.
The main applications of can coatings include food cans, beverage cans, general line cans, aerosol cans, and others;' other' includes cans used for packaging chemicals, pharmaceuticals, and custom goods. Of these, the biggest application region in the can coatings industry was beverage cans, which accounted for over 65.0 percent in 2018. Generally, beverage products are packed in containers as they are lightweight, made of unbreakable material, recyclable and aesthetic. This drives the use of beverage cans coatings and is the reason behind the biggest share of the category.
Emerging countries in multiple areas such as Asia-Pacific (APAC), Latin America (LATAM), and Middle East & Africa (MEA) are experiencing fast economic growth and development in multiple sectors such as food and beverage, private care, and health care. Under these sectors, different products make use of containers for their packaging, selling and transport. Compared to their counterparts, food and beverage goods provided in bottles are regarded to have longer shelf-life and free of contaminants. Personal care and medicines such as deodorants, shaving foams, energy drinks, spray drugs, protein powder, and cosmetics are stored and sold in aerosol or general canisters.
Due to powerful economic growth, increased awareness and health issues, increased disposable income, and R&D of goods in these nations, the above-mentioned products are progressively being introduced in numerous developing nations such as China, India, and South Korea, leading to fresh launches during the forecast era. During the forecast period, these factors are expected to boost can consumption, which in turn could use coatings, thus creating possibilities for development for the market for can coatings.
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