According to the report published by Zion Market Research, the global Container Coating market size was valued at USD 3.9 billion in 2022 and is predicted to reach USD 5.6 billion by the end of 2030. The market is expected to grow with a CAGR of 5.15% during the forecast period 2023 to 2030. The report analyzes the global Container Coating market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Container Coating industry.
The market is expected to grow with a CAGR of 5.15% during the forecast period. The report analyzes the global Container Coating market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Container Coating industry.
Global Container Coating Market: Overview
A wide array of glass, metal, and plastic containers are leveraged by numerous industries for storing and transporting goods. Container coatings are substances used for coating containers in order to ensure maintenance of quality and boost their durability. Protecting from environmental hazards such as corrosion, these coatings aid manufacturers in reinforcing smooth operations and simplifying inventory management throughout all major industries.
Additionally, using high-quality container coatings boosts the life of the product stored in the container by regulating the air quality inside the package. Since several market players have been adding to their portfolios, the growth of the global container coating market size is certain. They have been providing features such as high UV resistance, faster drying time, and enhanced fine surface protection.
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Infrastructure development: The construction of ports and logistics hubs worldwide as part of infrastructure development projects creates opportunities for container manufacturers. As the demand for containers increases, so does the need for suitable container coatings. Coatings that enhance durability and performance make containers suitable for long-term storage and transportation, driving market growth.
Aesthetic considerations: While functionality and performance remain crucial, there is a growing focus on aesthetics in the container industry. Coatings that offer visually appealing appearances, customization options, and branding capabilities are in demand. The ability to incorporate logos, designs, and colors on containers attracts customers and contributes to market growth.
These factors collectively propel the growth of the container coating market. With the container industry’s continuous expansion and evolution, the demand for advanced, sustainable, and high-performance coatings is expected to increase further.
Global Container Coating Market: Growth Factors
The flourishing transport & logistics industry across the leading regional markets have been responsible for the expanding demand for container coatings. Steel and plastic containers are increasingly being utilized for transporting a plethora of merchandise across the globe. With the utilization of Internet of Things (IoT) and artificial intelligence (AI) adding to the progression of the global container coating market forecast, the revenue is expected to surge.
As customers tend to levitate toward visually appealing products, the development of aesthetic features in packaging solutions at the same time ensuring product protection is becoming increasingly difficult. Since container surfaces are prone to wear, cracking, and scratching, applying superior quality container coatings can lead to minimum damage during transport and handling.
The growing demand for consumer electronics such as tablets, smartphones, laptops, quads, and drones has been generating the need to deploy effective coating solutions that can ensure maximum protection from elements such as moisture, humidity, dust, rain, and snow. The emergence of novel coating solutions including conformal coating has been a gateway for further expansion of the global container coating market share.
The need for ensuring optimal integrity, impeccable hygiene, and purity of medical & pharmaceutical products, especially through the lenses of the COVID-19 pandemic, has been on the rise. Glass container coatings are gaining traction of late, owing to the spiraling usage of these containers across hospitals, clinics, and other healthcare facilities across multiple applications. With the development of innovative surface technologies, laboratories and hospitals have been embracing best practices, augmenting the global container coating market revenue.
Global Container Coating Market: Segmentation
The global container coating market can be differentiated based on container type, coating, end-use industry, and region.
On the basis of container type, the global market has been classified as plastic container, steel container, and glass container. The plastic container coatings are expected to garner considerable momentum through the next few years, as the demand for safe and high-quality food grade plastics has been demonstrating an uptick
By coating, the global container coating market can be bifurcated into solvent-based coating and water-based coating.
Based on end-use industry, the global container coating market is categorized into pharmaceutical, marine, food & beverage, automotive, oil & gas, and others. The marine segment is poised for maximum growth through the upcoming years. This is due to the emergence of innovative solvent-free, solvent-borne and waterborne epoxy resin solutions for marine, inland, and offshore applications.
Global Container Coating Market: Regional Analysis
Asia Pacific is expected to lead the global market for container coatings through 2026. The growing demand for curing metal cans used in the packaging of food products and beverages has been one of the primary growth drivers of the container coatings market in Asia Pacific. A robust expansion of the regional market is ensured due to the prospering e-commerce & retail, food & beverage, and pharmaceutical industries across countries such as India, South Korea, China, Japan, and Australia. The trending focus toward sustainable packaging has also been assisting the global container coatings market share from this segment.
North America is slated to register a considerable growth pace through the forecast timeline, propelled by the surging demand for non-durable and durable goods. The increasing number of product approvals and the need to ensure FDA compliance in the region have been aiding the global container coatings market outlook. The high rate of frequency of shipping & cargo activities, supported by the thriving cross-border trade across the region has been strengthening the demand for these solutions. The U.S. and Canada are anticipated to emerge as prominent share holders of the market.
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Global Container Coating Market: Competitive Players
The global Container Coating market profiles key players such as:
- Ultrimax Coatings
- KANGNAM JEVISCO CO., LTD.
- Chugoku Marine Paints, Ltd.
- The Sherwin-Williams Company
- Nordson Corporation
The global Container Coating market is segmented as follows:
- steel container
- glass container
- solvent-based coating
- water-based coating
- food & beverage
- Oil & gas
Global Container Coating Market: Regional Segment Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
What Reports Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.
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