Tinplate Market Size, Share & Industry Analysis, By Type (Prime Grade and Secondary Grade), By Application (Food & Beverage Cans, Other Cans, Automotive, Construction, and Others), By Thickness (Single Reduced and Double Reduced), and Regional Forecast, 2024-2032

The global tinplate market size was valued at USD 30.07 billion in 2023 and is expected to grow from USD 31.0 billion in 2024 to USD 40.25 billion by 2032 at a CAGR of 3.3% during the forecast period. Asia Pacific dominated the tinplate market with a market share of 39.01% in 2023. Moreover, the tinplate market in the U.S. is projected to grow significantly, reaching an estimated value of USD 5,771.4 million by 2032, driven by the surging demand for tinplate packaging from food & beverage industry.

Tinplate is a lightweight, low-carbon, cold-rolled steel plate or strip coated on both sides with commercially available pure tin. It combines the strength and formability of steel with the corrosion resistance, solderability, and luster of tin in one material. Since the production of the steel base and the subsequent tin coating are carried out independently, it is theoretically possible to combine all the properties of steel with any tin coating. It can be produced in a variety of shapes and sizes, meeting a wide range of unique demands coming from several industries. Owing to its exceptional formability and high strength, tinplate is utilized in a range of industries, including but not limited to metal packaging, automotive, and construction. Its high utilization in metal packaging and surging demand from other industries will drive market growth during the assessment period.

The tinplate market was negatively impacted by the COVID-19 pandemic due to lockdowns and halted import-export activities globally. Moreover, travel restrictions and economic instability caused supply chain disruptions and delays in key industrial activities, which reduced sales in 2020. Companies operating in the market also resumed their operations and are coming back to normal while also seeking new opportunities. Many major companies have taken steps to mitigate supply chain disruptions, manage costs, and shift to remote selling, which assisted in the recovery of the market.

Tinplate Market Trends

Rising Inclination toward Sustainable and Eco-Friendly Packaging Solutions to Fuel Market Growth

The increasing awareness about environmental challenges, such as climate change and global warming has led to a shift in consumer preference toward sustainable and eco-friendly packaging solutions. This trend has driven the demand for tinplate as it is a highly recyclable and reusable material commonly used in the packaging industry. It offers excellent protection to the products during transportation and also helps in reducing the carbon footprint by being environmentally sustainable. The market for sustainable packaging is diverse and spans many industries, including food, beverage, and cosmetics. In the food industry, canned food is a common example of sustainable packaging. These cans are made from steel, which is one of the most widely recycled materials in the world. Additionally, steel cans can be recycled an infinite number of times without running the risk of losing their quality, making them a truly sustainable packaging option. Therefore, the growing demand for sustainable and eco-friendly packaging solutions will fuel market growth.

Tinplate Market Growth Factors

Increasing Demand from Food & Beverage Industry Will Drive Market Growth

The food & beverage industry is experiencing remarkable growth globally, and this is consistently driving the adoption of tinplate in the packaging sector. Its unique properties, such as durability, corrosion-resistance, and excellent protection, keep the products fresh and safe for consumption. Thus, it has become a popular choice for food & beverage packaging. The increasing demand for packaged foods and beverages due to changing consumer preferences and lifestyle patterns is expected to boost the market's growth. Additionally, the rising disposable income of consumers in emerging economies is expected to drive the demand for packaged foods and beverages, further contributing to the market's growth. The demand for ready-to-eat or convenience foods has increased in recent years, which is boosting the use of product for packaging items. It is recyclable and has a low carbon footprint, making it an eco-friendly choice for food and beverage packaging. The factors mentioned above are projected to drive market growth during the forecast period.

RESTRAINING FACTORS

Availability of Alternative & Cheaper Packaging Materials May Impede Market Growth

The rising availability and popularity of plastic packaging can affect the demand for tinplate in packaging applications. This is because more companies seek to reduce costs and adopt more environmentally friendly packaging alternatives, which may hamper the product’s consumption. Plastic packaging is often cheaper and readily available, making it a more economical option for many businesses. In addition, the production process of metal containers is generally more complex and time-consuming as compared to their plastic counterparts. This is because metal containers require more steps in their manufacturing process, such as cutting, shaping, and welding, which can add to the production time and labor costs. Plastic containers, on the other hand, are made from various types of polymers, and their processability is easy and less expensive. As a result, it may impede the market’s growth in the long-term.

Tinplate Market Segmentation Analysis

By Type Analysis

Prime Grade Type Gained Major Popularity Owing to its Low-to-No Surface Imperfections

Based on type, the market is segmented into prime grade and secondary grade.

The prime grade segment accounted for the largest tinplate market share in 2023 and is projected to record a CAGR of 3.4% in terms of value, creating a market opportunity worth USD 34.43 billion in 2032. Prime grade is the standard grade produced through the normal production of lines employing the usual inspection and classification procedures. Owing to its smooth surface and low-to-no surface imperfections, it offers lacquering and printing over the entire surface, which makes it a primary choice among consumers.

By Application Analysis

Demand for Maintaining Food Quality Increased Product Use in Food and Beverage Cans

Based on application, the market is classified into food & beverage cans, other cans, automotive, construction, and others.

The food & beverage cans segment accounted for a major share of the market and consumed over 12.43 million tons of tinplate in 2023. Owing to its high utilization in the food & beverage industry, this segment will maintain its dominance throughout the assessment period. Demand for maintaining the quality of packaged foods and increasing their lifespan will drive the material’s consumption in the food & beverage can application.

Other cans consist of cans used for industrial purposes, such as aerosols, paints, pesticides, and specialty chemicals. Owing to their various unique properties, these cans have found applications in other major industries, such as automotive and construction. In the automotive industry, these cans are used in various applications, such as oil filters, gaskets, battery tops, and vehicle trims. In construction, they are utilized for many purposes that include cable sheathing, ducts, shelving, and utility needs.

The others segment consists of the use of this material in various electronic applications, giftware, and promotional products, thereby driving the segment at a CAGR of 2.8% over the assessment period.

By Thickness Analysis

Sheets of Single Reduced Thickness Gained Major Traction Owing to Their Wide Adoption

Based on thickness, the market is classified into single reduced and double reduced.

The single reduced segment accounted for the largest market share in 2023. A single reduced tinplate is produced by cold rolling a hot rolled steel coil, then annealing and coating the annealed coil with tin with the help of an electrolytic process. Owing to its high formability and beautiful metallic luster, its adoption is high for various container applications, such as food, beverage, artistic containers, and electric parts. This material also offers an attractive and glossy finish when applied with lacquers and inks, which will further enhance its demand among customers.

The double reduced segment is estimated to record the fastest CAGR of 3.8% during the forecast period. Double reduced tinplate is normally thinner than its single reduced counterpart and is stronger. Although it has many properties that are similar to those of single reduced sheets, its demand remains low as many end-use customers primarily use single reduced products. However, it is being used in various applications, including but not limited to processed food cans, baby food containers, coffee cans, dairy cans, and paint cans. Owing to its high strength and growing adoption for various applications, the demand for double reduced sheets is expected to grow steadily.

REGIONAL INSIGHTS

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Asia Pacific stood at USD 11.73 billion in 2023 and has been identified as the largest consumer due to the presence of leading economies, such as China and India. Among these countries, China is the leading consumer in Asia Pacific and also dominates the global market. The presence of a humongous food & beverage industry and huge population will naturally drive the product’s demand in the country. In addition, Asia Pacific is the global automotive manufacturing hub, and according to the International Organization of Motor Vehicle Manufacturers, the region accounted for nearly 70% of the global automotive production in 2022. China alone accounted for one-third of the global production. With such a huge production base and the high usage of tinplate in automotive components, this region dominates the global product consumption.

According to Metal Packaging Europe and Beverage Can Makers Europe (BCME), together, they produce around 85 billion metal packaging units annually to meet the demand coming from the food & beverage, health & beauty, household, and industrial markets. This makes Europe one of the largest regions in the global tinplate market. Europe is home to many huge economies, such as Germany, the U.K., France, Italy, Spain, Russia, and others. Rising inclination toward environmentally friendly packaging will create a conducive environment for the market’s growth in Europe.

According to the U.S. Geological Survey, North America produced 18 kilotons of tin in 2022, of which 22% was used to produce tinplate. Surging demand for packaged and ready-to-eat products in the region will drive the product’s sales in North America during the forecast period.

Latin America and the Middle East & Africa markets are projected to grow moderately during the assessment period. Saudi Vision 2030 by Saudi Arabia and many such major efforts by Brazilian players operating in Latin America’s food & beverage industry will assist the market’s growth in the respective regions.

List of Key Companies in Tinplate Market

Capacity Expansion and Acquisitions Remain Key Strategies among Market Leaders to Cater to Growing Product Demand

ArcelorMittal, Baosteel Co., Ltd., NipponSteel, Tata Tinplate, and the United States Steel Corporation are identified as key manufacturers in the market. These companies have used a variety of strategies to expand their footprint in this market. Capacity expansion, production innovations, and acquisitions are some of the prominent strategies used by these market players. Companies, such as Tinplate Company of India (TCIL), JFE Steel, Thyssenkrupp, and Nippon Steel are involved in some of the strategic activities mentioned above.

LIST OF KEY COMPANIES PROFILED:

• Altos Hornos de Mexico, S.A.B. de C.V. (AHMSA) (Mexico)


• ArcelorMittal S.A. (Luxembourg)


• Baosteel Co., Ltd. (China)


• JFE Steel Corporation (Japan)


• JSW Steel Limited (India)


• Nippon Steel Corporation (Japan)


• Ohio Coatings Company (U.S.)


• Posco Group Inc. (China)


• Tata Tinplate (India)


• TCC Steel (South Korea)


• Thyssenkrupp AG (Germany)


• Ton Yi Industrial Corporation (Taiwan)


• Toyo Kohan Co., Ltd. (Japan)


• United States Steel Corporation (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2023 – Tinplate Company of India (TCIL), a subsidiary of Tata Steel, is set to expand its production capacity at Jamshedpur. The expansion project is expected to help the company retain its market dominance, expand its product portfolio, and increase its export markets. The first phase of the expansion will raise TCIL's capacity to 715,000 tons per annum (TPA) from the current 415,000 TPA at Jamshedpur.


• July 2022 – JFE Steel acquired EcoLeaf, the Japan Environmental Product Declaration (EPD) program for tinplate products, by SuMPO (Sustainable Management Partners Organization). The acquisition of EcoLeaf was in line with JFE Steel's commitment to sustainability and its efforts to reduce the environmental impact of its products.


• September 2022 – Tosyalı-Toyo, a joint venture of Tosyalı Holding and Toyo Kohan, invested USD 200 million to double its tin production capacity from 325,000 mt to 650,000 mt. The project was expected to be completed by the end of 2023.


• March 2021 – JSW Steel announced that it had completed the acquisition of the remaining 26.45% of the issued and paid-up share capital of JSW Vallabh Tinplate Pvt. Ltd.


• December 2020 – Nippon Steel announced the acquisition of Siam Tinplate Co. Ltd. in Thailand. Siam Tinplate will become a Thai subsidiary of Nippon Steel after the acquisition, and Nippon Steel will hold around 90% stake in the company.

REPORT COVERAGE

The report provides detailed market analysis and focuses on crucial aspects, such as leading companies, types, applications, and types of thickness. In addition, it provides quantitative data regarding volume and value, market analysis, research methodology used for gathering market data, and insights into the market trends. It also highlights vital industry developments and the market’s competitive landscape. In addition to the above-mentioned factors, the report encompasses various factors that have contributed to the market's growth in recent years.

Report Scope & Segmentation