The packaging industry is one of the foremost industrial sectors to give birth to the throwaway culture, which is in charge of the harms caused by millions of tons of waste produced every year. Accordingly, developing worries about environment have offered ascend to sustainability trends in the packaging industry, in this way boosting adoption of metal packaging solutions.
The metal packaging coatings market banks on the developing shift from plastic to metal in the packaging industry. By 2018, the market is probably going to envisage 3.8% y-o-y over 2017, as indicated by a recent market study published by Fact.MR. The study stays bullish on positive development of the metal packaging coatings market, as the utilization of metal packaging solutions has achieved new heights in various industrial applications in the recent years.
The Fact.MR study thoroughly assesses macro and microeconomic elements that may reclassify development prospects of the metal packaging coatings market in the foreseeable future. The investigation likewise gives a holistic assessment of market dynamics to get almost exact decisions about market development and gives actionable insights to readers.
Sales of Metal Packaging Coatings will Remain Highly Concentrated in Developed Regions. As indicated by the investigation, the metal packaging coatings market in created areas, for example, North America and Europe, is relied upon to represent more than half the sales of metal packaging coating in 2018. The investigation opines that the trend will keep on holding on all through the upcoming decade, creating most lucrative opportunities for metal coating covering producers in North America and European Union.
A portion of the key findings of the Fact.MR study that elucidate the market situation and competitive environment in created metal packaging coatings markets are;
On the whole, North America and Europe will represent over 55% volume share of the worldwide market for metal packaging coatings market in 2018
Stringent controls on the utilization of plastic in food packaging solutions are bolstering the utilization of metal packaging, which is predominantly boosting the development of metal packaging coatings market in these areas
Expanding utilization of steel and aluminum containers in packaging for human and pet food products in developed countries is triggering adoption
Awareness about sustainability of metal food packaging among consumers, which makes a huge impact on consumer behavior, has multiplied the number of metal packaging applications. This, thusly, will quicken extension of the metal packaging coatings market in developed countries
Leading metal packaging coatings market players in developed regions are adopting advanced technologies to present superior performance characteristics of metal packaging coatings. This is required to complement the market development in upcoming years.
The investigation additionally projects that leading metal packaging coatings market players in developed regions will present innovative types of metal packaging coatings, which can enhance security, durability, and in addition aesthetics of metal packaging in the foreseeable future.
New Trends in Food and Beverage Packaging will Spur Demand for Metal Packaging Coatings. Developing requirements for sustainable and environment-friendly packaging have exerted immense pressure on stakeholders in the packaged food & beverage industry. The choice of appropriate packaging materials plays a pivotal role in retaining the product quality and conservation throughout the period of consignment and storage. Despite the lower cost and functional advantages of plastic packaging, the F&B industry is moving towards improvement of active packaging technologies, which is escalating the utilization of metal packaging for food & beverages.
The investigation projects that beverage cans will keep on creating most extreme interest for metal packaging coatings, dominating the sales of different product types of metal packaging coatings by 2018. Subsequently, modern food & beverage manufacturers plumping for metallic food packaging will augur well for the incremental growth of metal packaging coatings market in the foreseeable future.
As per finishes of the Fact.MR consider, the metal packaging coatings market will develop at a healthy 4.1% volume CAGR during the forecast period 2018-2027.