Transparency Market Research in its new report titled, “Can Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025,” provides key insights on the can coatings market. The new report anticipates that the expanding food and beverage packaging industry will drive the can coatings market during the forecast period i.e, 2017-2025.
The TMR report has segregated the global can coating market based on coating type, coating technology, application, and region. In terms of coating type, the can coatings market can be classified into epoxy, oleoresins, vinyl, phenolic, acrylic, polyester, and polyolefins. The epoxy coatings segment holds a major market share due to less expensive and easy coating process. However, epoxy coatings are being replaced with modern coatings due to their toxic nature. The governments of many countries have revised their norms applying bans over epoxy coatings. The manufacturing and food companies have started to replace epoxy with polyester and acrylic coatings and are even are developing non-BPA epoxy coatings. The polyester and acrylic coatings have a large potential in the near future.
Based on coating technology, the can coatings market is bifurcated into conventional solvent-borne, water-borne, UV-cured, and others. Conventional solvent-borne coating technology has the disadvantage of releasing high amounts of volatile organic compounds (VOCs). The solvent-borne technology is limited to very few companies and constitutes less market share compared to other technologies. In water-borne coating technology, water acts a main carrier and resins and organic solvents aid in viscosity control, wetting, and pigment dispersion. Water-borne coating technology is extensively employed by beverage can manufacturing companies. UV-cured technology is primarily employed for external coating of cans and is more expensive than any other technology
In terms of regional perspective, the can coatings market is split into North America, Europe, Middle East & Africa, Asia Pacific, and Latin America. The can coatings market is driven by the expanding food and beverage packaging industry. The U.S. alone has the production capacity of 100 billion cans per annum. Developed nations account for a major market share of the can coatings market. The market in Asia Pacific offers significant potential due to the expanding end-use industries in the region. Government regulations and norms restrain the expansion of the can coatings market in developed nations. Major players operating in the global can coatings market are profiled in this report to give a better competitive landscape and these include PPG Industries, Inc., The Valspar Corporation, Akzo Nobel N.V, Henkel AG & Co, National Paints Factories Co. Ltd., and Covestro AG.
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