The sales of metal packaging coatings market is set to record a CAGR of ~5% during the forecast period (2020-2030). Proper food and flavor protection, outstanding adhesion and flexibility in coating formulations has leveraged the demand for metal packaging coatings in the can manufacturing and coating formulating industries. Moreover, the preference for green manufacturing will create a robust environment for metal packaging coatings as they are free from toxic chemicals like epoxy and BPA. A notable preference for aluminum and steel cans in food and beverage industry is poised to drive market growth during the forecast period.
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Key Trends of Metal Packaging Coatings Market :
- On the basis of resins, acrylic resin is poised to remain a primary choice among metal packaging coating manufactures, accounting for over one fourth of the market share in 2030.
- Coil process is projected to expand at a CAGR of ~4% creating absolute $ opportunities worth US$ 173 Mn by the end of 2030.
- Based on form, liquids have led the market in terms of value in 2019 and is projected to maintain its supremacy over powdered forms, creating an absolute $ opportunity worth US$ 519 Mn by 2030.
- Increasing consumption of metal packaging coatings in the manufacturing of beverage cans will surpass the market valuation of US$ 874 Mn in 2030.
- In terms of value and volume, Europe is poised to maintain its reign over other regions, accounting for over one third of the global demand through the forecast period.
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Metal Packaging Coatings Market: Segmentation
Fact.MR has segmented the metal packaging coatings market on the basis of resins, process, form, product and region.
- Poly Alkyds
- Thermal Spraying
- Hot-Dip Galvanizing
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Mergers and Acquisitions will continue to Remain Top Strategies to Absorb Uncertainty
Boasting of a highly consolidated market structure, key players such as Akzo Nobel N.V., Dow and PPG Industries Inc. accounted for over one third of the global sales in 2019. During the historical period (2015-2019), prominent companies have adopted numerous targeted strategies to expand their roots across the globe. For instance, Henkel has acquired Darex Packaging Technologies business for over US$ 1 Bn to strengthen its market presence. Similarly, Beverage Can Makers Europe and European Metal Packaging, these two European companies merged to expand their global presence. Mergers will continue amidst this global emergency to offset the losses incurred during the pandemic.
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The post Demand for Metal Packaging Coatings Market to Record a 4.1% Volume CAGR through 2030 appeared first on The Tribune City.
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