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The preference for metal
food & beverage containers in the Asia-Pacific region has been increasing
rapidly, owing to its range of benefits such as better product protection,
durability, sustainability, affordability, light-weight, and more in comparison
to other types of packaging. The development of new coating technologies which
include Bisphenol A non-intent (BPA-NI) coatings are further fueling the growth
of the market in the Asia-Pacific region. Moreover, increasing demand for metal
packaging coatings from the pharmaceutical industry are further accelerating
the growth of the market in the Asia-Pacific region. Also, strict regulations
regarding the use of plastics in various countries across the Asia-Pacific
region along with increasing product launches and developments associated with
metal packaging is expected to increase the demand for metal packaging coatings
for use in various end-use industries over the forecast period. Asia-Pacific metal packaging coatings market size is forecast to reach US$1,990.4 million by 2027, after growing at a CAGR of 7.3% during 2022-2027.
Eco-friendly
metal packaging coatings refer to coatings that are specifically designed to
have lower levels of volatile organic chemicals (VOC) and are less toxic to
human health. These coatings are primarily used to coat metal containers that
store food, cosmetics, and pharmaceutical products, owing to their lower levels
of VOC. Moreover, strict environmental regulations are driving metal packaging
coating manufacturers in the Asia-Pacific region to adopt environmentally
conscious practices, thus, the demand for water-based coatings has increased
significantly in the region. Water-based metal packaging coatings have low VOC
levels and harmful chemicals, which makes them less toxic and eco-friendly in
comparison to solvent-based, and other types of coating. For instance, in July 2020, Actega, based in China, launched a new
water-based metal packaging coating for tin cans, aluminum bottles, tubes, or
other types of metal packaging used in the food and beverage industry. With
this launch, the company aimed at providing safe, environmental-friendly, and
reliable solutions to its customers in the highly-regulated markets such as
food or beverage packaging in the region. Furthermore, Framework Resolution ResAP (2004) 1 regulates manufacturers
in the Asia-Pacific region for the production of metal packaging and flexible
packaging coatings. It regulates coatings used for food contact applications
under normal or foreseeable conditions of use and states that any coatings
should not transfer its constituents to foodstuffs in quantities exceeding 10
mg/dm2 of the surface area of material or article (mg/dm2) (overall migration
limit). In June 2021, the Chinese government enforced
GB/T safety requirements for hazardous chemicals regulation that restricts the
use of BPA in metal packaging coatings which includes food contact packaging,
owing to its adverse impact on the environment and human health. Thus, such
strict regulations in the Asia-Pacific region is expected to increase the
demand and production of eco-friendly water-based coatings for use in several
industries in the region as mentioned above. This, in turn, will create
opportunities for the growth of the metal packaging coatings market in the
Asia-Pacific region in the upcoming years.
China dominated the Asia-Pacific metal
packaging coatings market in terms of revenue with a share of 59% in 2021 followed
by Japan and India with 11% and 9% respectively. Metal cans & containers
offer a range of benefits such as better product protection, durability,
sustainability, affordability, light-weight, and more, which makes them ideal
for use in the packaging of food and beverage. Metal packaging coatings are
mainly used for coating such food & beverage cans and containers in order
to protect the metal surface from corrosion, and abrasion, thus, making it more
durable. In
June 2019, Ball Corporation, a leading supplier of metal packaging
technologies, and sustainable packaging solutions for beverage, personal care,
and household products, announced its plan to expand its business in India. According to Ball Beverage
Packaging (India) Private Ltd, the total production capacity of Ball in India
is close to 1.3 billion cans. Ball supplies its beverage cans to multiple
companies which include Coca-Cola and PepsiCo, along with numerous beer
companies in India. The company has the capacity to produce 250 ml, 350 ml, and
500 ml metal cans in the country. Within the Asia Pacific region, the company
produces 6 to 7 different sizes of metal cans which can help increase the local
production in order to grow the market. Thus, due to such initiatives the
market for metal packaging coatings is anticipated to upsurge in the Asia-Pacific region over
the upcoming years.
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Asia-Pacific Metal Packaging Coatings Market Growth Driver
Governmental Regulations Related to Use of Plastics
Strict governmental regulations in the Asia-Pacific region associated
with the use of plastics, owing to its adverse impact on the environment are
likely to drive the demand for metal packaging across the region. In April 2021, the
Australian Capital Territory (ACT) Legislation Register reported the Plastic
Reduction Act 2021 (ACT), with the relevant bill having been passed by the ACT
Legislative Assembly on March 31, 2021.
The legislation aims at reducing the use of plastic in the ACT,
specifically single-use plastic used in soda, water bottles, and other food
packaging, by eliminating the supply of identified single-use plastic items. In August 2021, the Government of India launched the
Plastic Waste Management Amendment Rules, 2021, which prohibits identified
single-use plastic items that have low utility and high littering potential by
the end of 2022. Furthermore, in 2020, the Chinese
government announced its plan to reduce single-use plastics across the country.
As per the plan, plastic bags will be banned across all cities and towns in 2022.
The production and sale of plastic bags that are less than 0.025mm thick will
also be banned. The restaurant industry is imposed to reduce the use of
single-use plastic items by 30%. Hotels have been strictly restricted to offer
free single-use plastic items by 2025. Thus, such strict regulations regarding
the use of plastics in various countries across the Asia-Pacific region are
expected to increase the demand for use of metal packaging in various
industries such as food & beverage, pharmaceuticals, and more.
The Major Players in this Market Include
Technology
launches, acquisitions, and R&D activities are key strategies adopted by
players in the Asia-Pacific metal packaging coatings market. Asia-Pacific metal
packaging coatings top 10 players include: The Sherwin Williams Company, PPG
Industries Inc., AkzoNobel N.V., Kansai Paint Co., Ltd., Altana AG (Actega), Henkel
AG & Co. KGaA, Axalta Coating Systems Ltd., Eason & Co., Toyochem Co.,
Ltd., Kangnam Jevisco Co., Ltd. and Others. In July 2020, Actega, an operating division of ALTANA,
launched its new business line for metal packaging coating solutions on a
global scale including its subsidiaries in the Asia-Pacific region. The new
business line is designed to boost synergies for the company’s product portfolio
of coatings, compounds, printing inks and sealants.
The COVID-19 outbreak led to major economic problems and challenges for the food & beverage, pharmaceutical, cosmetic, and other industries in the Asia-Pacific region. According to the International Monetary Fund (IMF), the GDP growth of the Asia declined by 1.3% and Australia by 2.4% as indicated in the graphs, owing to the economic impact of COVID-19. The governments all across the Asia-Pacific region announced strict measures to slow the spread of the coronavirus and only the production of essential commodities were allowed, which impacted the non-essential commodity industries, thereby impacting the production of metal packaging coatings as well. However, economic stimulus packages allotted for multiple sectors in the Asia-Pacific region and the start of industrial production activities since 2021 is improving the metal packaging coatings market growth in the Asia-Pacific region by its increasing utilization in various industries.
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