Metal Packaging Coatings Market Predicted to Reach Maximum Revenue and CAGR by 2027
FactMR study offers an in-depth explanation of how the metal packaging coatings market will grow during the forecast period 2018-2027. According to conclusions of the Fact.MR study, the metal packaging coatings market will grow at a healthy 4.1% volume CAGR through 2017. The metal packaging coatings market banks on the growing shift from plastic to metal in the packaging industry. By 2018, the metal packaging coatings market is likely to envisage 3.8% y-o-y over 2017, according to a recent market study published by Fact.MR. The study remains bullish on positive growth of the metal packaging coatings market, as the use of metal packaging solutions has reached new heights in various industrial applications in the recent years.
Competitive Assessment: The keyword market report includes global as well as emerging players:
- The Sherwin-Williams Co.
- RPM International Inc.
- Nippon Paint Holdings Co.
- Axalta Coating Systems
The Fact.MR study thoroughly assesses macro and microeconomic factors that may redefine growth prospects of the metal packaging coatings market in the foreseeable future. The study also provides a holistic assessment of market dynamics to obtain nearly accurate conclusions about market growth and provides actionable insights to readers.
Sales of Metal Packaging Coatings will Remain Highly Concentrated in Developed Regions
According to the Fact.MR study, the metal packaging coatings market in developed regions, such as North America and Europe, is expected to account for more than half the sales of metal packaging coating in 2018. The study opines that the trend will continue to persist throughout the upcoming decade, generating most lucrative opportunities for metal packaging coating manufacturers in North America and European Union.
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New Trends in Food & Beverage Packaging will Spur Demand for Metal Packaging Coatings
Growing needs for sustainable and environment-friendly packaging have exerted immense pressure on stakeholders in the packaged food & beverage industry. The selection 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 benefits of plastic packaging, the F&B industry is shifting towards development of active packaging technologies, which is escalating the use of metal packaging for food & beverages.
The metal packaging coatings market players featured in the Fact.MR report include PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Co., RPM International Inc., Nippon Paint Holdings Co., Axalta Coating Systems, BASF Coatings GmbH, Kansai Paint Co. Ltd., Behr Process Corp., Benjamin Moore & Co., and Nippon Paint (USA).
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The Fact.MR study projects that beverage cans will continue to generate maximum demand for metal packaging coatings, dominating the sales of various product types of metal packaging coatings by 2018. Thereby, 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.