The global market for can coatings is projected to reach a value of USD 4.36 billion by 2032, with an expected compound annual growth rate (CAGR) of 5.1%

The global market for can coatings is projected to reach a value of USD 4.36 billion by 2032, with an expected compound annual growth rate (CAGR) of 5.1%

According to a recent report from Spherical Insights & Consulting, the market size for global can coatings is projected to increase from $3.62 billion in 2022 to $4.36 billion by 2032, with an annual growth rate of 5.1% over the forecast period.

Can linings, or coatings, are substances applied to the interior of metal containers to shield their contents from potentially adverse effects of the metal. These linings serve as a barrier between the container's contents and the metal surface, preventing chemical reactions or interactions that could compromise the quality, taste, or safety of the packaged items. Metal cans are frequently utilized to store food and drinks like beer, fruits, vegetables, soups, and soft drinks. Without these protective coatings, the metal might corrode or react with the contents, leading to contamination of the product and the possible release of harmful substances.

Type Insights
Epoxy coatings segment is dominating the market over the forecast period

The global market for can coatings is categorized by type into Epoxy, Acrylic, Polyester, and Others. Of these categories, the epoxy coatings segment is expected to lead the market during the forecast period. Epoxy coatings have a well-established history in can linings and are considered safe for food contact when properly formulated and applied. They provide an effective barrier that prevents harmful contaminants from migrating from the metal can to the food or beverage inside. With the increasing demand for canned foods and beverages, epoxy coatings are essential in meeting diverse packaging requirements. The long-standing use of epoxy coatings in the canning industry is supported by strong evidence of their durability and effectiveness, earning the trust of both manufacturers and consumers.

Application Insights
Beverage segment accounted the largest market share over the forecast period

The global market for can coatings is divided into categories based on their application: Food Cans, Beverage Cans, General Line Cans, Aerosol Cans, and Others. Among these categories, the Beverage Cans segment has captured the largest share during the projected period. This growth is driven by the increasing use of metal cans for packaging a variety of beverages such as soft drinks, beer, energy drinks, and ready-to-drink beverages. Metal cans provide ample space for branding and marketing, allowing beverage companies to present their products attractively in stores and advertising campaigns. The rising popularity of craft beers, ready-to-drink (RTD) beverages, and niche products has further fueled the demand for cans, as they are ideal for preserving and showcasing these types of beverages.

Regional Insights
North America accounted the largest market share over the forecast period

During the forecast period, North America held the largest market share compared to other regions. The substantial demand for packaged food and beverages in this area has led to a widespread use of metal cans for packaging various products. Consequently, the need for can coatings has risen proportionally to maintain food safety and product integrity. Consumers in North America favor canned items, especially drinks such as beer and soft drinks, due to their convenience, portability, and long shelf life.

The Asia Pacific region is experiencing the quickest growth in market share during the forecast period. This surge is driven by a combination of factors, including the region's significant and swiftly expanding population and increasing urbanization. These elements have boosted the consumption of packaged foods and beverages, thereby escalating the use of metal cans and the subsequent demand for can coatings. Additionally, rising disposable incomes across various Asia-Pacific nations have shifted consumer preferences towards convenience foods and drinks, further fueling the need for can coatings.