Shambhu Nath Jha, Research Head- Chemical & Materials Domain at Fact.MR discusses various factors redefining growth of metal packaging coatings market.
The demand for metal packaging coatings banks on the paradigm shift from plastic to metal in the packaging space. Owing to their abilities in terms of imparting high performance, and bolstering antistatic capability, metal coatings have become highly crucial in the packaging industry. Rising demand from food and beverage cans is another key aspect spurring revenues of metal packaging coatings market. Manufacturers of metal packaging coatings, in response to the appearance-centric requirements, are vying to amplify lusture and barrier properties of their products. Rising use off steel and aluminum packaging formats across various end use applications is likely to spur the demand for metal packaging coatings.
Q. How will the Europe’s transition toward a circular economy bode well for the metal packaging demand?
As it is already known that in case of a circular economy, value of any product or material is retained for as long as possible. Metal packaging perfectly complies with the Europe’s rapid transition toward circular economy by offering maximum recyclability and maintaining its intrinsic properties for a prolonged period of time. With increasing efforts of Europe to move toward a resource-efficient recycling system, metal packaging is being actively adopted across various application verticals, thereby empowering the visibility of metal packaging coatings.
Q. How is the clamor for enhanced aesthetics among Europeans influencing overall demand for metal packaging coatings?
In spite of low cost as well as functional benefits of plastic packaging formats, multiple application verticals in Europe are actively embracing active packaging technologies, such as metal packaging. In parallel to the rising demand for enhanced aesthetics among the Europeans, manufacturers in various end use industries are focusing on tactile features to amplify the appeal of their products, thereby necessitating the adoption of high-definition metal packaging coatings.
Q. Which end use industry is likely to have maximum contribution vis-à-vis growth trajectory of metal packaging coatings market?
An incessant march toward sustainable and environment-friendly formats is hard-pressing food and beverage industry to move from plastic to metal. Moreover, appropriate packaging of food and beverage products plays a paramount role in retention of the product quality throughout storage and consignment, which is another key factor favoring adoption of metals for food and beverage packaging. This fundamental shift toward metal packaging has positioned the food and beverage sector as the largest user of metal packaging coatings.
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