Metal packaging coatings developers are pushing for improvements in anti-microbial properties to bolster application and sales during and after the coronavirus pandemic.
ROCKVILLE, MD / ACCESSWIRE / August 25, 2020 / The metal packaging coatings market is expected to reflect a healthy 5% CAGR for the duration of the assessment period between 2020 and 2030. The coronavirus pandemic will have a moderate impact on the industry. Marginal reduction in the demand for canned beverages, coupled with a larger slump in industrial and consumer goods aerosols are likely to restrict short term growth prospects.
"Metal packaging manufacturers make use of coatings to leverage characteristics such as acid and bio-corrosion resistance. These materials are finding use in varied end-user industries not only for protection, but also for decorative aesthetics, which will help sustain long-term growth," says the FACT.MR report.
Metal Packaging Coatings Market- Key Takeaways
- Epoxy coatings hold major market share owing to superior corrosion resistance and non-BPA innovations.
- Beverage can applications are estimated to contribute significantly to market revenue, owing to compliance to food quality and safety regulations.
- Asia Pacific is a key metal packaging coatings market owing to the massive presence of pharma, food, and chemical manufacturing industries.
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Metal Packaging Coatings Market- Driving Factors
- Demand for coating characteristics including content safety, easy printing, and higher customization boost demand.
- Growth in e-commerce coupled with urbanization drive demand for metal packaging, which in turn bolsters need for metal coatings.
Metal Packaging Coatings Market- Major Restraints
- Strict regulations associated with production and application of metal packaging coating materials hinder scope of growth.
- Health concerns over VOC emissions associated with metal packaging coatings hold back adoption.
COVID-19 Impact on Metal Packaging Coatings Market
The coronavirus pandemic has moderately restricted the sales and applications of metal packaging coatings. A slump in the demand for canned beverages and personal care products during the pandemic has had an impact on the market. Also, disrupted supplies and production activity in industrial settings has hurt market growth, owing to the decline in demand for industrial aerosols. On the other hand, demand for canned foods has gone up during the pandemic and has provided market players with opportunities to lower the losses accrued during this period.
Explore the global Metal Packaging Coatings market with 151 figures, 68 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/2433/metal-packaging-coatings-market
Competitive Landscape
Hempel A/S, Jotun Group, BASF SE, Kansai Paint Co. Ltd., Axalta Coating Systems Ltd. are some of the leading players participating in the metal packaging coatings market.
Major players in the metal packaging coatings market are pushing for research into the diversification of product portfolios with launches of new products and coating technologies to keep up with evolving consumer needs.
For example, Sensory Analytics has received a European patent for metal packaging coating thickness measurement technology. Promethean Particles has come up with nano-copper tech to for anti-microbial metal coating applications. Acqua S. Bernardo has diversified its packaging portfolio from Crown for sparkling mineral water packaging.
About the Report
This study offers readers a comprehensive market forecast of the metal packaging coatings market. Global, regional and country-level analysis of the top industry trends impacting the metal packaging coatings market is covered in this FACT.MR study. The report offers insights on the metal packaging coatings market on the basis of nature of resin (acrylic, fluoropolymer, urethane, epoxy, poly alkyds, and amines), process (thermal spraying, coil, electroplating, extrusion, and hot-dip galvanizing), form (liquid and powder) and product (beverage, aerosol, and food cans) across six regions (North America, Latin America, Europe, Japan, Asia Pacific excluding Japan, and MEA).
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SOURCE: FactMR