Global Tinplate Packaging Market Size & Share to 2019-2030
Tinplate is a thin sheet of steel coated with tin to prevent rust corrosion typically used for packaging of food and beverages, oils, powders, paints, etc. Tinplate is also used for diverse purposes such as manufacturing of engine gaskets, oil filters, and brake line tubes due to its corrosion resistance, solderability, 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 less weight properties, moreover, they also ensure longer shelf life of products preventing them from coming in direct contact with water vapor and other gasses.
Global Tinplate Packaging market to surpass USD million by 2030 from USD million in 2019 at a CAGR 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 of global tinplate packaging market. Plastic contains toxic elements is not preferred by most consumers to store food products which can be substituted by tinplate packaging.
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Global Tinplate Packaging Market: Key Players
- AJ Packaging Limited
- 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: 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. 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, and 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. 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 consumer’s inclination towards canned food products is rising with time due to their longer shelf life and convenience.
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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.
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.
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Global Tinplate Packaging market report also contains analysis on:
Tinplate Packaging Market Segments:
- By Type
- Bottles
- Caps and Closures
- Drums
- Food cans
- Others
- By End Users
- Food & Beverages Industry
- Health & Beauty Industry
- Chemical Industry
- Others
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