Food Can Coatings Market - Forecast(2023 - 2028)

Food Can Coatings Market Overview

Food Can Coatings Market Size is estimated to reach $2.7 billion by 2027. Furthermore, it is poised to grow at a CAGR of 3.5% over the forecast period of 2022-2027. Coatings are chemical like materials such as epoxy coating, acrylic resin coating, polyester, and oleoresins that are used over different kinds of cans to enhance or improve adhesion, resistance and flexibility. The coating is an important part of the packaging process. Cans are made from a variety of metals, including aluminium, tin, zinc tinplate, and others, and are used for a variety of purposes, including food packaging, storage, warehousing, and transportation. This is where the importance of can coatings becomes apparent. In terms of hardness, resistance, elasticity, and adhesion can coatings are also utilised to shape the cans. Can coatings be also used to reduce direct contact between food and beverage items and cans. Corrosion control and long-term protection are provided by protective coatings in a variety of corrosive environments. In the same way, canned foods and drinks are an important element of the world food supply. From a consumption standpoint, consumer desire for quality goods with flavour, texture, and colour is vital, and producers are now focusing on technological feasibility, commercial availability, and health aspects of alternative coating alternatives. Natural resins generated from plants are utilised as a coating material. Plant resins are equivalent to synthetic resins; however synthetic resins are liquid monomers. For instance, in the beginning, iron and steel were utilized in the production of 'tin cans.' Steel cans are currently the raw material of choice for light-coloured fruits and fruit juice boxes, with no need for additional organic coating. However, cans without any organic covering have been discovered to cause corrosion, allowing food to come into touch with the steel. As a result, organic coating aids in achieving a long-term balance between tin and food life. Such application of coatings is the fundamental reason driving the Food Can Coatings sector during the forecast period 2022-2027.

Food Can Coatings Market Report Coverage

The report: “Food Can Coatings Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Food Can Coatings Market.

Key Takeaways

• Geographically, North America held a dominant market share in the year 2021 to a rise in the demand for Food Can Coatings in the food & beverage industry.
• The usage of Food Can Coatings is increasing owing to the rise in demand for can coatings by the food and beverages industry in developed and developing economies is the root cause fueling up the market during the forecast period of 2022-2027.
• However, insufficiency in raw material demand and supply and volatility in their prices will pose a major challenge and may limit the Food Can Coatings Market over the forecast period.
• A detailed analysis of strengths, weaknesses, opportunities and threats will be provided in the Food Can Coatings Market Report.

Food Can Coatings Market Segmentation Analysis- By Product Type

Food Can Coatings Market based on product type can be further segmented into Epoxy, Acrylic, Polyester, and Others. The Epoxy segment held a dominant market share in the year 2021 owing to the ease of the coating process. Epoxy coatings are simple to use, flexible, adhere to metal surfaces, and are inexpensive. This aids in the prevention of can corrosion and metal traces, both of which can lead to food poisoning. The internal epoxy coating allows for complete sterilisation at high temperatures while maintaining an airtight seal. Over the forecast period, these factors are driving the market growth.

However, the Acrylic segment is expected to grow with CAGR of 3.9% over the forecast period 2022-2027 due to its clean appearance coupled with corrosion and sulphide stain resistance. However, these coatings are fragile, and there is a risk that the odour and flavor of the items will change. As a result, these coatings are generally suitable for use in ordinary line cans. This attribute contributes to the growth of this market over the forecast period.

Food Can Coatings Market Segmentation Analysis- By Application

Food Can Coatings Market based on the application can be further segmented into Food Can, Beverage Can, General Line Can, Aerosol Can, and Others. The Beverage Can segment held a dominant market share in the year 2021 Owing to rising per capita expenditure on food and beverages, rising disposable incomes, improved lifestyles, and the growing middle-class population, which is the primary consumer of beverages, consumption of beverages such as beer, water, soda, and others is rapidly increasing in emerging countries. PPG Industries, Inc. started in June 2021 when it expanded its aluminium and steel can coatings manufacturing capacity in the Netherlands and Poland for a variety of packaging applications including food, beverage, and personal care goods. As beverages contain a range of substances, the coating smooths the metal surface, preventing items from reacting with metal and protecting them from contamination. This, in turn, is predicted to boost the beverage cans segment's growth.

However, General Line Cans are estimated to be the fastest-growing, with a CAGR of 4.1% over the forecast period of 2022-2027. General line cans are long-lasting and versatile packaging options for a variety of items such as edible oils, health beverages, cookies, protein powders, and so on. Food products are kept airtight and pilfer-proof in these cans, which have a longer shelf-life. Depending on the product, it is also available in unique shapes and sizes. Food can coatings are predicted to grow in popularity due to the increasing use of general line cans in numerous sectors over the forecast period.

Food Can Coatings Market Segmentation Analysis- By Geography

The Food Can Coatings Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 32% in the year 2021. The established presence of the food and beverage, personal care, chemical, and pharmaceutical sectors in the region is associated with the expansion of the can coatings industry in the region. The US Food and Drug Administration regulates the production of cans in the region. Regulations governing coating goods must be followed by manufacturers in the region. As a result, can coatings manufacturers are anticipated to develop alternatives to BPA (bisphenol A)-based can coatings. TOYOCHEM CO., LTD. announced the release of a new line of Bisphenol A non-intent (BPA-NI) internal coatings for metal beverage bottles and cans in March 2021. Acrylic emulsion and polyester resins are used in the new BPA-NI interior sprays and coil coatings. The product will be sold under the Lionova brand name in both domestic and international markets. The continuous adoption of foodie culture by Americans, as well as the expansion of the fast-casual sector, with a greater emphasis on quality products, authenticity, and ethnic variety, has been another driving factor behind the food can coating sector's increase in growth. Hence, with the increase in demand for metal cans, the demand for can coatings is expected to rapidly increase over the forecast period.

However, Asia-Pacific is estimated to be the fastest-growing, with a CAGR of 4.5% over the forecast period of 2022-2027. The food and beverage, pharmaceutical, and chemical industries all have manufacturing hubs in Asia-Pacific. The demand for food and beverages, as well as other canned goods, is increasing as the region's population and urbanisation grow. Consumption of canned food and drinks has increased in developing economies such as India, Japan, and China, which will aid the expansion of the food can coating market over the forecast period.

Food Can Coatings Market Drivers

Growth in Food & Beverages Industry Aid in Market Growth.

The can coating market is predicted to develop owing to rising demand from the food and beverage industries. Improving consumer lifestyles have resulted in an increase in transportable food products with longer shelf lives, which will drive market demand. In 2019, Americans consumed 13.8 billion gallons of bottled water, according to the International Bottled Water Association (IBWA). Coatings on food and beverage cans are applied to both the external and interior surfaces to ensure that the contents of the can remain fresh for as long as possible. Many can manufacturers are concentrating their efforts on improving can solutions, such as corrosion resistance. These coatings serve a purpose in protecting the cans from corroding and acting as physical barriers to chemicals and moisture and preventing the content of food and beverage from reacting with metal such use of food coatings is expected to boost the market in the forecast period.

Research & Developments by Key Manufacturers is Propelling the Market Growth.

Increased demand for can coating from diverse industries drives important manufacturers to invest in research and development for improved packaging solutions, sustainable packaging, rising consumer demand, and government regulations and policies. GST on food and hygiene items would be cut to 0-5 per cent and 12-18 per cent, respectively, in 2020, according to the India Brand Equity Foundation (IBEF). As a result, rising food demand will expand the market. In addition, Ball Corporation debuted a revolutionary aerosol can in Paris in January 2019 that is visually appealing from every perspective. Trivium Packaging, meanwhile, announced a groundbreaking recycling project in February 2021, partnering with urban recycler Creando Conciencia to enhance the recycling and reuse of aerosol aluminium cans. Over the projected period, such breakthroughs and improvements will additionally propel the worldwide food can coatings market.

Food Can Coatings Market Challenges

Regulatory Controls on the Composition of Can Coatings to Restrict Market Growth.

Internal coatings on food and beverage cans, in particular, must meet a variety of standards in terms of impenetrability and food component response. Pigments, solvents, resins, and acidic additives are all components of the coating. A group of chemists from Russia's RUDN University developed an antibacterial covering for food goods in 2020. The mixes contain two ingredients that are safe for human health and form a biodegradable, thin, and non-toxic coating. The coating is flavorless and colorless, and it is said to extend the shelf life of various products by 2.5 to 8 times. Furthermore, government regulations for food and beverage can regulate coating materials, application methods, and VOC emission content, which may cause health issues. These are some of the potential market restraints in the future. 

Food Can Coatings Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Food Can Coatings Market. The top 10- Food Can Coatings Market companies are-

1. PPG Industries
2. Valspar
3. Akzo Nobel
4. ALTANA
5. KANSAI PAINT
6. Toyochem
7. National Paints Factories
8. International Packaging Coatings
9. TIGER Coatings
10. VPL Coatings

Recent Developments

• In July 2021, PPG Industries, Inc. has planned to expand its facility in Delaware, Ohio, the United States in addition to the production of over varnish coatings for beverage can exteriors, including PPG ISENSE Gloss coatings. The following expansion is expected to increase the company's overall production of over-varnish coatings in the United States by 40%, which will significantly enhance the company's can coating business.
• In June 2021, Akzo Nobel invested $23 million in expanding powder coating capacity at its Como site in Italy. The company strengthen its market position and focus on greener manufacturing from this investment. Investments include expansion of the biggest plant in Como site for the production of automotive coatings which helps to secure customer supply.
• In February 2020, Rich Products announced the expansion of its product portfolio with three new acquisitions; (Rizzuto Foods) a leader in pizza dough innovation; (Morey’s Seafood International) a major seafood industry player based in Playmouth, & two manufacturing plants from (TreeHouse Foods) a leading manufacturer & distributor of private label Bread, Cakes & Rolls, On the occasion of 75-year completion to Rich Product Cooperation.

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