Global Tinplate Packaging Market Size
[ 170 + Pages Research Report ] to surpass USD 211.5 million by 2030 from USD 139.87 million in 2020 at a CAGR of 4.2% throughout the forecast period, i.e. 2019-30.
Tinplate is a thin sheet of steel coated with tin to prevent rust corrosion typically used for packaging food and beverages, oils, powders, paints, etc. Tinplate is also used for diverse purposes such as manufacturing engine gaskets, oil filters, and brake line tubes due to its corrosion resistance, solderability, and lustrous appearance properties. The eco-friendly and recyclable nature of tinplate promotes sustainable use of natural resources. Tinplate packaging is convenient to ship and store due to its high strength and fewer weight properties, moreover, they also ensure the longer shelf life of products preventing them from coming in direct contact with water vapor and other gasses.
Market Highlights
Global Tinplate Packaging market is expected to project a notable CAGR in 2030.
Global Tinplate Packaging market to surpass USD 211.5 million by 2030 from USD 139.87 million in 2020 at a CAGR of 4.2% throughout the forecast period, i.e. 2019-30. With the changing lifestyle and preferences, demand for products holding longer shelf life is increasing which can be possibly done by using tinplate for packaging and storage of the products which may foster the demand for the global tinplate packaging market. Plastic that contains toxic elements is not preferred by most consumers to store food products which can be substituted by tinplate packaging.
Recent Highlights in Global Tinplate Packaging Market
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In July 2020, JSW Steel launched a premium Platina tinplate brand named JSW Platina in India introducing continuous annealing technology for the manufacturing of tinplate products.
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In January 2020, Tesco announced to abandon the use of plastic packaging on tin multipacks teaming up with Heinz following the 4Rs (remove, reduce, reuse and recycle) packaging policy strategy for plastic packaging.
Global Tinplate Packaging Market: Segments
Food Cans platform segment to grow with the highest CAGR during 2019-30
Global Tinplate Packaging market is segmented by type into Bottles, Caps and Closures, Drums, Food cans, and Others. The food Cans segment held the largest market share in the year 2019. Tinplate bottles are used to store oils, caps, and closures are specifically designed to ensure proper sealing of the container preventing the product from leaking. Food cans are majorly used to store beverages, canned fruits, vegetables, etc. which are majorly demanded by the populace.
Food and Beverages segment to grow with the highest CAGR during 2019-30
Global Tinplate Packaging market is also segmented by end-users into Food & Beverages Industry, Health & Beauty Industry, Chemical Industry, and Others. The food and beverages segment held the largest market share in the year 2019 and will continue to dominate the market throughout the forecast period since consumers’ inclination towards canned food products is rising with time due to their longer shelf life and convenience.
Market Dynamics
Drivers
Mounting demand for Canned food and beverage products
With the changing lifestyle, the demand for canned-food products such as fruits, vegetables, juice, etc. is growing due to the busy schedules of consumers which is a key driving factor for the growth of the global tinplate packaging market. Longer shelf life of the perishable products by creating a barrier between the small water particles and gasses present in the air tinplate material acts as the most effective alternative for packaging.
Recyclable and Ecofriendly
Conservation of natural resources and use of environment-friendly packaging materials have seen a rising trend in the past years, tinplate packaging can be recycled, reused, and eco-friendly making it the most desirable choice for the packaging of products. Since it is also free from harmful elements a major shift of preference has been observed from plastic containers to tinplate containers in the past few years.
Restraint
High manufacturing costs
Manufacturing costs of tinplate containers are higher in comparison to various other packaging alternatives, businesses may not have a desired profit ratio, especially in the packaging of low-value items.
Global Tinplate Packaging Market: Key Players
- AJ Packaging Limited
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Tinplate Company
- Zenith Tins
- NIPPON STEEL CORPORATION
- POSCO
- Kian Joo Can Factory Berhad
- United States Steel
- Baosteel Group
- Berlin Metals
- Other Prominent Players
Global Tinplate Packaging Market: Regions
Global Tinplate Packaging market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA. Global Tinplate Packaging markets market in North America held the largest market share in the year 2019. North America will continue to dominate the global tinplate market due to its higher per-capita income, busy schedules, and rising inclination towards canned- food products which will promote the growth of the tinplate packaging market in the region throughout the forecast period. Asia-Pacific regions will also observe substantial growth over the projected timeline due to rising demands for the packed food as well as tinplate packaging in other industries.
Global Tinplate Packaging market is further segmented by region into:
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North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and the Rest of APAC
- MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Tinplate Packaging market report also contains analysis on:
Tinplate Packaging Market Segments:
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By Type
- Bottles
- Caps and Closures
- Drums
- Food cans
- Others
- By End Users
- Food & Beverages Industry
- Health & Beauty Industry
- Chemical Industry
- Others
- Tinplate Packaging Market Dynamics
- Tinplate Packaging Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
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