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Tinplate Packaging to Witness Heightened Demand, to Register CAGR of 4.2%, Opines Fact.MR

Press release from the issuing company

Tinplate packaging market is projected to experience a moderate growth trajectory during the forecast period. Tinplate packaging market has been increasingly embracing aesthetics in order to fulfill demand from various end use industries. Multiple new packaging products such as tinplate packaging having “Matte Effect”, tinplate packaging with embossed surfaces, and customized digital prints have been introduced in the market to meet the growing demand from end-use retail customers. This trend has substantially increased demand for tinplate packaging in the beverages industry, on the back of its impressive tactile features.

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Key Takeaways of Tinplate Packaging Market –

Cans are anticipated to be the dominant product type in tinplate packaging market, and the segment is forecasted to grow 1.5X during the forecast period.

North America and Europe together account for more than half of the share in tinplate packaging market, while Europe is expected to generate fastest revenue during forecast period. Europe accounts for nearly one third of the value share in tinplate packaging market. The sustainable practices deployed by the regional players has substantially increased the preference of these companies. Europe is one of the front runners in terms of recycling, which has led to significant decrease in raw material costs for the domestic players.

Uptick in demand from food packaging is expected to remain constant till mid-term forecast.

Tinplate packaging with moderate thickness i.e. 0.20 mm to 0.40 mm is expected to grow by 1.7X during the forecast period.

“Investments in development of compact packaging solutions are expected to supplement demand for tinplate packaging. In terms of product type, cans are projected to be the lucrative revenue pocket during forecast period”, says the Fact.MR analyst

Collaborations within Tinplate Packaging to Lead Market towards Consolidation

Tinplate Packaging market is consolidated with key market players accounting for more than 70% of the revenue share. Tinplate packaging market has been moving towards consolidation with multiple collaborations and mergers in the market. In 2019 Ardagh Group announced collaboration with Exal Corporation to increase their share in metal packaging market. The joint venture of Tata Steel and thyssenkrupp was blocked by European Union, as the joint venture was claimed to significantly increase consolidation within the market. Mergers and collaborations between top players are expected to continue during the forecast period, which will substantially increase consolidation within the tinplate packaging market. Tinplate packaging market has been gradually growing over the years. Top players in the tinplate packaging market have been focused on increasing recyclability of their products. Top players in the market have entered into regional collaborations through associations for increasing their efficiency in recycling.

Some of the prominent players of the market are AJ Packaging Limited, Tinplate Company, Zenith Tins, HUBER Packaging Group GmbH, Golden Grain Group Ltd, Ball Corporation, CPMC, Crown Holdings, Greif Incorporated, Ardagh Group, Thyssenkrupp and others.

Find More Valuable Insights on Tinplate Packaging Market

Fact.MR, in its new offering, brings to fore an unbiased analysis of the global tinplate packaging market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study divulges compelling insights on the tinplate packaging market on the basis of product type (cans, lids, containers and others), application {food packaging, beverages packaging (alcoholic drinks and non-alcoholic drinks), aerosol products packaging (cosmetics, healthcare, automotive and others) and others}, and tinplate packaging thickness (0.13 mm to 0.20 mm, 0.20 mm to 0.40 mm and more than 0.40 mm) across seven major regions.

Browse Full Report: https://www.factmr.com/report/4615/tinplate-packaging-market 

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