Premiumization has come up as a popular solution in the industry of beverage packaging. Owners of different brands are looking for options to attract attention of the customers by offering them products placed on premium platforms, which drives the demand for package coating worldwide. In the food and beverage sector, there has been an inclination toward premium packaging, which is likely to amplify growth of the global metal packaging coatings market over the forecast timeline, from 2020 to 2030. Growing attention toward graphics, images, and glossy colors on the final packaged items is expected to foster development of the global metal packaging coatings market in the years to come.
Manufacturers of these coatings are focused on the development of thicker paints and coatings with advanced technical properties. These paints and coatings can be utilized replacing insulating materials to regulate optimum level of temperature. In addition, nanotechnology is gaining prominence in the paints and coatings sector, which is likely to spell growth for the global metal packaging coatings market.
Form, product, resins, process, and region are important factors in the market that has been considered for the classification of the global metal packaging coatings market.
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The last few years has seen some developments that promised to open up new avenues of growth for the global metal packaging coatings market in the forthcoming years. The market has observed high demand across the globe with leading brands having wider presence across the globe. The market is highly concentrated with three top players, PPG Industries Inc, Dowdupont Inc, and Akzo Nobel N.V, accounting for leading share of the market.
Some of the prominent companies in the global metal packaging coatings market are mentioned below:
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The global metal packaging coatings market comes with the prevalence of the following hurdles, lucrative opportunities, and growth-promoting elements.
Rising Demand for Premium Chocolates and Rich Taste of the Chocolate to Boost Demand
The global metal packaging coatings market is estimated to be driven by the growing applications of the product in packaging coatings in different end use sectors. Emerging trends come with direct impact on the industry dynamics, which includes taking up of non-BPA (Bisphenol-A) coatings in development of bio-based coatings, edible coating in food packaging, and metal packaging. These factors are likely to support development of the global metal packaging coatings market over the forecast timeline.
The outbreak of Covid-19 has impacted the metal packaging coatings industry as well. With norms of social distancing and imposed lockdown, there has been disruptions in the supply chain of the market. The market is anticipated to gather pace with the development of an effective drug or vaccine.
Europe is likely to dominate the global metal packaging coatings market and is expected to retain its dominance throughout the tenure of analysis, from 2020 to 2030. The region is one of the leading producers of beer, which drives the demand for beer cans in the region. Rising demand for canned drinks and food in countries like the UK, Spain, Italy, and Germany are expected propel growth of the market in Europe.
Latin America is projected to offer lucrative growth opportunities to the players in the global metal packaging coatings market. Food and beverage industry in Brazil is flourishing, which is expected to drive the metal packaging coatings market in the country.
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