Tinplate Market Is Expected to Reach Us$ 202.2 Billion by 2030
Reports and Insights has published a new report titled, “Tinplate Market: Opportunity Analysis and Future Assessment 2022-2030”
Tinplate Market, By Product Type (Single Reduced, Double Reduced), By Thickness (>0.20 mm, 20 mm-0.30 mm, 30 mm – 0.40 mm, <0.40 mm), By Grade (Prime Grade, Secondary Grade, Others), By End-use Application (Packaging (Food & Beverage Packaging, Non-Food Packaging (Paints, Aerosols, Battery Jackets, Chemicals, Others)) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
The tinplate market is estimated to reach at a value of US$ 178.5 Bn by the end of 2022 and expected to reach at a value of US$ 202.2 Bn by 2030 with a significant CAGR of 1.7%.
Tinplate, nowadays, is one of the most desirable and preferred substances for packaging solutions. Tinplate comprehensively gains application in the packaging of several different food items, such as edible oil, beverages, as well as in various non-food commodities as well.
Aerosols, chemicals, battery jackets, and paints are some of the non-food commodities that make use of tinplate for packaging. Such a broad range of applications is one of the primary factors that is majorly driving the growth of the global tinplate market opportunity. It is significant to note that plastic used to be one of the most extensively used material in the packaging industry, however, in the past few years, the increased environmental awareness among the population as well as regulatory authorities is swiftly encouraging the eco-friendly packaging solutions, which is ultimately boosting the demand of tinplate across the global markets.
However, possessing corresponding applicability, a more affordable substitute to tinplate is the tin free steel, also known as electrolytic chromium coated steel. Notably, tin free steel has similar applications to that of tinplate. Such factors are likely to slow down the growth of the global tinplate market over the forecast period.
Nonetheless, Tinplate packaging cans observe heavy demand in the food and beverages industry owing to their nitrogen-infused application which sustains the product’s quality and consistency. In addition to that, tinplate packaging also offers better shelf life to the product, which further accelerates its demand across various industries worldwide. Therefore, the global tinplate market is anticipated to witness considerable growth over the coming years.
Reports and Insights Study identifies some of the key participating players in the tinplate market globally are Tata Tinplate GPT Steel Industries Ltd., ArcelorMittal, Nippon Steel Corporation, United States Steel, JFE Steel Corporation, thyssenkrupp Steel, TCC Group companies, POSCO, Ton Yi Industrial Corp., Massilly Holding SAS, Berlin Metals, Toyo Kohan Co., Ltd., Titan Steel, Baosteel Co. Ltd., Tianjin Jiyu Steel Co., Ltd., and Sino East Steel Enterprise Co., Ltd., among others.
The tinplate market refers to the global trade in tin-coated steel sheets or strips, which are commonly used in the packaging industry to make cans, containers, and other food and beverage packaging products. Tinplate is a thin, flexible, and durable material that is corrosion-resistant, non-toxic, and can be easily formed into different shapes and sizes.
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The tinplate market is driven by the increasing demand for packaged food and beverages, particularly in emerging economies. The growing popularity of convenience food and the trend towards smaller, single-serve packages have also contributed to the growth of the tinplate market. In addition, the increasing focus on sustainable packaging and the development of innovative tinplate products have opened up new opportunities for market players.
The global tinplate market is highly competitive and fragmented, with several large multinational companies dominating the industry. Some of the key players in the market include ArcelorMittal, Tata Steel, JFE Steel Corporation, ThyssenKrupp AG, and POSCO. These companies are constantly innovating and investing in new technologies to improve the quality and efficiency of their products and to meet the changing needs of their customers.
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