Global food can coatings market size is expected to witness significant expansion through 2027 driven by the thriving food and beverages industry along with the growing demand for food packaging materials and coatings. Besides, increasing interest in packaged food consumption and hectic lifestyles worldwide would further impel the demand for food can coatings market over the coming years.
Coatings in food cans are generally used to protect food products from contamination from can’s metal and inner materials. These materials are used to strengthen, enhance the flexibility, resistance, and adhesion of the food cans. Can coatings are also employed in metal shaping process for elasticity and hardness.
Ongoing researches and studies in the field are expected to open new growth avenues for food can coatings market players over 2021-2027. In 2020, a team of chemists from the RUDN University, Russia designed an antibacterial coating for food products. The mixtures contain two components that are considered to be safe for human health and form a biodegradable, thin, and non-toxic film. The coating has no flavor or color and is deemed to enhance shelf-life of different products by 2.5 to 8 times. Such developments would transform the overall food can coatings market outlook through the analysis period.
Food can coatings industry growth is likely to be challenged by the high product cost and an imbalance in the production and profit margin for business players.
Based on the type of coatings, vinyl coatings segment is estimated to grow considerably in the overall food can coatings market. Vinyl coatings are considered to be highly flexible and stable under alkaline and acidic conditions. These coatings need stabilizers and plasticizers and are often mixed with other resins. Vinyl organosols, prepared from suspensions of vinyl resins in organic solvent, provide relatively exceptional chemical resistance, adhesion properties, and thermal stability, compared to vinyl coatings.
UV based coatings for food cans are gaining ground globally. This can be ascribed to the innumerable merits associated with the product including superior abrasion resistance, shiny finish, no emission of VOCs, reduction in production time, and others. In 2008, the U.S FDA had approved the use of UV coatings for use in food cans that come into direct contact with food.
Regionally, North America food can coatings market is anticipated to showcase notable growth over the foreseeable time frame. This can be attributed to the expanding F&B industry in the diverse countries including the United States, Canada, Mexico, and others. Cans production in the continent is mainly regulated by the FDA. Business personnel in the region are required to comply with the regulations related to the coatings products, expediting the sales of food can coatings, and in turn, stimulating the North America food can coatings market dynamics.
Prominent players operating in the global food can coatings industry are AkzoNobel N.V., PPG Industries, TOYOCHEM, Altana AG, Tiger Coatings GmbH, Srisol Group, and VPL packaging coatings, amongst others.
These business operators are engaged in different organic marketing strategies like mergers and acquisitions, product launches, partnerships, and more to gain a competitive advantage in the overall food can coatings market sphere. For instance, PPG Industries has recently announced doubling its capacity at Poland unit to support the growth of its PPG NUTRISHIELD line of non-BPA, internal, food can coatings.
COVID-19 pandemic influence on food can coatings market trends
The global coronavirus crisis has had a moderate impact on the global food and beverages industry during 2020. The growth in the market is primarily due to the significant rise in consumption of packaged food worldwide due to movement restrictions and stringent lockdown policies imposed by several governments. However, the market is likely to be negatively influenced by the disruptions in the global food supply chain and reduced workforce in different food industries.