Can Coatings Market Size, Share & Industry Analysis, By Type (Epoxy, Acrylic, and Others), By Application (Food Cans, Beverage Cans, Aerosol Cans, and Others) and Regional Forecast, 2024-2032

The global can coatings market size was valued at USD 1.97 billion in 2018 and is projected to reach USD 2.65 billion by 2026, exhibiting a CAGR of 3.8% during the forecast period from 2019-2026. North America dominated the can coatings market with a market share of 34.29% in 2018.

Cans are used to preserve or store products while also easing the transportation of products from one place to another. Canned food has become a staple in hospitals, kitchens, schools, and supermarkets. The growing trend for packaged food & beverages shall drive the can coating market. Rising demand for healthy food & changing lifestyles among consumers has led to high consumption of canned products. Cans are coated with an organic layer that protects them from the effects of food and chemical reactions between the food and the metal in the can. Food cans used for food and beverage products help to preserve their nutritional value for a long time period, protection, and decorative aesthetics, thus supporting the growth of canned food & beverages, which in turn shall boost the market growth.

CAN COATINGS MARKET TRENDS

Utilization of Biodegradable Coatings for Canned Products

The bio-based and biodegradable system replaces harmful artificial chemicals with safer green alternatives for corrosion protection in metal industries. Additionally, water-based coatings are used as an environmental solution to replace standard coatings. The water-based coatings products have can coating formulations that include grease resistance, mineral oil barrier, and moisture and water resistance. These coatings have applications in fast food packaging, frozen food packaging, and metal packaging products and increase the shelf-life of coatings.

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Inkjet Printing Technology onto Coated Metal Cans

Solvent ink is used to print metals. Sigma solvent-based TIJ ink is also used on metals and foils. The ink cures rapidly and has a decap time four times longer than other inks available. Thus, the inks come in the packaging of genuine HP 45si cartridges.

CAN COATINGS MARKET GROWTH FACTORS

Growth in the Food & Beverages Industry

The increasing demand from the food & beverage industry is expected to foster the growth of the can coating market. Improving consumer lifestyles has led to a rise in mobile food products with longer shelf life, which in turn shall propel its demand in the market. Coatings on cans for food & beverages are used on both exterior and interior surfaces for long-lasting preservation of food and beverage content. External coatings provide product information, brand information, brand logos, trade names, manufacturer information, and brand serial identification, whereas internal coatings provide limited migration and thermal stability.

Many cans manufacturing companies are focusing on providing better coating solutions to the consumers, among which the most important is corrosion resistance. Corrosion resistance is an important factor in the use of coatings in food & beverage cans. These coatings serve the purpose of protecting the cans from corroding and acting as physical barriers to chemicals and moisture, thus preventing the content of food and beverage cans from reacting with the metal. These factors together increase the shelf-life of food content and are, therefore, expected to boost the market in the forecast period.

RESTRAINING FACTORS

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

Internal coatings on food & beverage cans, in particular, must gratify a number of requirements in relation to impenetrability and reaction between coating constituents and food components. Constituents of the coatings include pigments, solvents, resins, acidic additives and additives. Moreover, governmental regulations regarding overcoating materials, application methods, and VOC emission content for food & beverages can may result in health problems. These are certain risk factors that can restrain the market in the future.

CAN COATINGS MARKET SEGMENTATION ANALYSIS

By Material Analysis

Epoxy-based Based Coatings Dominated the Market during the Forecast Period

Based on material, the can coatings industry is classified into epoxy, acrylic, and others. Epoxy-based coatings account for the major share on account of growing awareness about the use of metal cans for food preservation. Epoxy coatings are easy to apply, flexible, adhering to metal surfaces, and are cost-effective. This helps make the can resistant to corrosion and prevents metal traces from leading to food poisoning. An internal epoxy coating allows complete, safe sterilization at high temperatures and an airtight seal. These resins can also withstand numerous shape-shifting processes during can manufacturing. Together, these factors drive the growth of the can coatings market. Acrylic coatings are also gaining traction as they provide a clean appearance, sulfide stain resistance, and display corrosion.

By Application Analysis

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Beverage Can Coating Accounted for the Major Share

By application, the Can Coating market segments include food cans, beverage cans, aerosol cans, and others. The beverage can segment accounted for the major can coating market share during the forecast period due to the high consumption of beverages such as beer, water, soda, and others. These coatings smooth out the metal surface. As most beverages contain carbon dioxide inside, coatings are done to make sure that the gas has no micro bumps.

Coatings also offer heavy-duty moisture and chemical resistance to cans and protect beverages from getting contaminated by reacting with the metal. This has caused an increased demand for coatings from the food and beverage industry. Additionally, increasing consumption from growing economies due to rapidly improving lifestyles, rising disposable economies, and urbanization is expected to propel the market in the forecast period.

REGIONAL CAN COATINGS MARKET ANALYSIS

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The findings based on our research methodology indicate that North America is holding the largest market during the forecast period. The rise in the consumption of metal cans from various industries such as food & beverages, pharmaceuticals, chemicals, personal care, and others will drive the market. Additionally, the increasing application of coatings cans for the industries mentioned above is propelling the market for can coatings.

Europe is expected to witness significant growth due to rising demand from personal care, food and beverage, and healthcare industries. The personal care industry is majorly impacting the market positively in the region due to the improvement in the lifestyle of consumers. that has further increased the usage of personal care products such as shaving foams, deodorants, and spray medication.

Asia Pacific is expected to be the fastest-growing market during the forecast timeframe. Rising population and urbanization in the region are increasing the demand for food and beverages and other canned products. Developing economies such as India, Japan, and China have led to a rise in the consumption of canned food and beverages, thus resulting in high demand for can coatings. These factors will support the growth of the can coating market.

KEY INDUSTRY PLAYERS

Some of the key market players operating in the industry are Ball Corporation, Kupsa Coatings, Kansai Nerolac Paints, The Sherwin-Williams Company, and PPG Industries. The major players in the can coatings have developed a strong regional presence, distribution channels, and product offerings. Companies are forming strategies to expand their business and enhance their product portfolios to create opportunities in the value chain.

Key Players to Uphold their Market Position Across Different Can Coatings related Areas

The majority of can coatings market share is consolidated among regional manufacturers to enhance their business offerings. Major players are adopting strategies such as new product launches and development to enhance their market presence. Additionally, companies are increasing the production and sale of existing products to gain a competitive edge in the market.

List of Key Companies Profiled in Can Coatings Market:

• BALL CORPORATION


• Kupsa Coatings


• Kansai Nerolac Paints Ltd.


• The Sherwin-Williams Company


• PPG Industries, Inc.


• TOYOCHEM CO., LTD.


• VPL Coatings GmbH & Co KG 


• National Paints Factories Co. Ltd. 


• IPC GmbH & Co. KG


• Axalta Coating Systems


• CSC BRANDS, L.P.

KEY INDUSTRY DEVELOPMENTS:

• March 2016 - Campbell Soup Company completed the transition to cans that does not use Bisphenol A (BPA) linings. The company will be using cans with acrylic or polyester linings and will sell them across its U.S. and Canadian regions.

REPORT COVERAGE

An Infographic Representation of Can Coatings Market

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The can coatings market report offers qualitative and quantitative insights into the industry and a detailed analysis of the size and growth rate for all possible segments within it.

Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights offered in the report are the current trends of can coatings by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, business strategies adopted by leading market players, macro and micro-economic indicators, and key industry trends.

Report Scope & Segmentation