Tinplate Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMM2924 | Last Updated On: Jun 22 2022 | Available Formats

> Global Tinplate Market Expected to reach a high CAGR during the forecast period 2022-2029: DataM Intelligence

Global Tinplate Market is segmented By Type (Single Reduced, Double Reduced), By Thickness (<0.18mm, 0.18mm-0.23mm, >0.23mm), By Grade (Prime Grade, Second Grade, Others), By End-Use Industry (Food, Beverages, Paint & Chemicals, Battery Packaging, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029


Market Overview:

The Global Tinplate Market is expected to grow at a CAGR during the forecasting period (2022-2029)

Tinplate contains sheets of steel with a tin coating. It is made by hot rolling and cold rolling of steel strip; removing rust by pickling it in acid and then coating with tin in an electrolytic process. Tinplate is characterized by a wide range of properties, including excellent formability & stability, excellent corrosion resistance, excellent solderability & weldability, beautiful metallic lustre, and good paintability & printability. Tinplate is a thin sheet that can be used for packaging purposes, especially for cans' production. It is the most preferred packaging material for both food products such as edible oil, beverages and non-food packaging applications such as paints, aerosols, chemicals, and battery jackets. The growing demand for tinplate in food and beverages and electrical machinery drives the market demand—moreover, various metals in packaging processed food, carbonated, and alcoholic beverages fuel market growth. However, the availability of cheap alternatives might hamper the market growth.

Market Dynamics:

Ban on single-use plastics as a form of packaging

Plastic is one of the most widely used materials in the packaging industry. Still, growing awareness for eco-friendly packaging is making manufacturers and customers switch to more sustainable packaging materials. This has promoted tinplate usage for packaging, and it has become popular due to its durability and eco-friendly nature. The main driver of usage of tinplate is its recyclable and reusable property that promotes eco-friendly packaging. With the ban on single-use plastics as a form of packaging, it seems likely that the consumption pattern of packaging goes back to the basics and starts using metal again. Tinplate packaging is almost 100% recyclable. A recycled tinplate packaging cannot be recycled back to its original form but can be processed into steel.

In June 2018, Prime Minister announced that India would eliminate single-use plastics by 2022. Canada and the European Union have since said they would get rid of some single-use plastics by 2021. This factor drives the usage of tinplate globally. Moreover, around 90.4% of tinplate packaging used in Germany was recycled in 2018, according to an annual recycling report for packaging by Gesellschaft für Verpackungsmarktforschung (GVM). According to ThyssenKrupp, the recycling rate of tinplate from private end-use sources was as high as 92.2%, making it the most recycled packaging material. Hence, factors such as environmental benefits increased canned goods, and rapid recycling rates are expected to impact the global tinplate market positively.

However, having similar applicability, an economical alternative to tinplate is tin-free steel, also called electrolytic chromium coated steel. Tin-free steel has similar applications to that tinplate. It is used in food and beverage containers, decorative cans and containers, oil cans and pails, etc. Hence, similar applications of tin-free steel are expected to hinder the tinplate market growth.

Market Segmentation:

The double-reduced segment is predicted to hold a prominent share in the global market of tinplate.

The tinplate market, by type, has been segmented into single reduced and double reduced. By type, the market is estimated to be dominated by the double reduced segment in 2020 and is also projected to grow at a higher CAGR of XX%. By the technique of double reduction, large quantities of relatively strong tinplate are now developed worldwide. It is possible to manufacture thinner and stronger tinplate, making more effective use of materials in can-making. Double Reduced (DR) product is normally thinner, stronger, and brighter than conventional single reduced tinplate and gives more cans from each ton without compromising strength. Various companies offering double reduced tinplate products include GPT Steel Industries, TCL, and JSW.

Geographical Penetration:

The Asia Pacific is expected to be the fastest-growing market over the forecast period.

In the Asia Pacific region, the tinplate market is estimated to witness exponential growth due to China and India's rising utilization and the high demand for aerosol for personal hygiene products, cosmetics, and cleaning products. Moreover, growing urbanization, an increase in the middle-class population, and busy lifestyles have increased the demand for canned food in the region.

North America is estimated to account for the majority share of the global tinplate market, mainly due to a strong food & beverage industry. The increase in demand for can in the beverage sector, increased consumption of canned food in this region, growing urbanization, and per capita spending capability has subsequently increased the demand for the tinplate market in this region.


Competitive Landscape:

The global tinplate market is highly competitive with existing players in the market. Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Tata Tinplate, GPT Steel Industries, JSW, ArcelorMittal, and NIPPON STEEL CORPORATION are significant players. Companies use different strategies such as portfolio expansion, product diversification, and new product launch to increase their market penetration. The companies enter into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for tinplate. For instance, in July 2019, JSW Steel launched a new tinplate product under the brand name JSW Platina which is a premium grade tinplate for the packaging industry. Currently, JSW has 350,000 Tons capacity for tinplate, which the company is looking to extend to 500,000 Tons.

COVID-19 Impact: COVID-19 harms the tinplate market

The global tinplate market has witnessed a negative impact on the product demand in recent months due to the lockdowns imposed in most countries due to the outbreak of COVID-19. The COVID-19 related lockdown has adversely affected the hospitality and construction industries, affecting the domestic demand for tinplate. However, considering the current scenario of the COVID-19 outbreak, there is a high probability of a significant fall in demand from manufacturing and construction sectors for the first two-quarters of FY 2020-21 across major economies, and hence the projections for FY 2020-21 may have to be revised downward.

Recent Developments:

  • In July 2019, JSW invested close to ₹1,000 crores at its Tarapur unit in Maharashtra to roll out JSW Platina, a premium tinplate, to tap the growing demand local packaging industry.
  • In July 2018, The Tinplate Company of India Limited (TCIL) launched PAXEL, India's first branded tin-can, through its first Service and Solution Partner (SSP), Yash Packaging, located at Kandla, Gujarat.

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