$640Mn+ Can & Closure Sealants Market: by Application, Technology, Product, End-use Industry, Material & Region – Worldwide Forecasts to 2025 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The "Can & Closure Sealants Market By Application Type, By Technology Type, By Product Type, By End-Use Industry Type, By Material Type, and By Region, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025" report has been added to ResearchAndMarkets.com's offering.

This 255-page comprehensive report on the can & closure sealants market is one of its kind and estimates the current as well as future growth opportunities for the market participants until 2025. The report segments and analyses the market in the most detailed manner in order to provide a panoramic view of the market.

The can & closure sealants market is projected to grow at a plausible rate over the next five years to reach US$ 647.7 million by 2025

Rapid urbanization, rising disposable income, and changing lifestyles and consumer preference towards packaged food products instead of bulk products are extrapolated to continue driving the demand for packaging products, benefiting the metal packaging as well as the sealants used in metal cans and closures. Another trend that is the further fuelling the growth of the can & closure sealants market is the demand for personalized and sophisticated packaging.

The sealants market for can & closure applications has undergone a remarkable evolution over the years. Also, the functions of sealants have grown beyond simply allowing easy access. The packaging is a convoluted process that requires meticulous attention of a multitude of things from distribution to shelf life including materials used for packaging, products that are packaged, and technology used to maintain product quality as well as freshness. Sealants are preferably used in the packaging industry to preserve products with a prime aim to extend their shelf life.

However, the advancements in technologies have a dual-edge impact on the demand for sealants used for cans and closures. For instance; in recent years, the metal can packaging industry has experienced a transition from three-piece can to two-piece can as a result of which the market has depicted a decline in sealant sales.

The global can & closure sealants market is consolidated with the presence of a few global and a handful of local players. Furthermore, the market recorded a sizeable number of M&A activities over the years. The most noticeable one is the acquisition of Darex Packaging Technologies from GCP Applied Technologies by Henkel at US$ 1.05 billion on a cash and debt-free basis in 2017. At the time of the acquisition, Darex Packaging Technologies had 700 employees located across 20 sites in 19 countries. This acquisition not only enhanced Henkel's position in the total adhesives and sealants business but also made it the leading supplier of sealants for can & closure applications.

The market is segmented based on the application type as can & closure. Can is likely to remain the growth engine of the market during the forecast period. Plastic pollution is one of the most important environmental concerns today. The Ocean plastic is being directly linked to health concerns as it breaks down and gets into the food and water supplies that human consume. Due to this, the demand for metal can packaging for RTD (ready-to-drink) tea and coffee drink, craft beer, packaged water, wine, etc. has been soaring.

Based on the technology type, the market is segmented as water-based sealants and solvent-based sealants. A water-based sealant is likely to remain more dominant as well as the faster-growing segment over the next five years in terms of both values as well as volume. Water-based sealants are gaining traction in the metal can & closure application because they are suitable for all types of cans used for food, beverages as well as general-line packaging. This sealant offers a wide range of benefits to the can & closure manufacturers as well as to the environment.

Based on the product type, the market is classified as PVC-free sealants and PVC-based sealants. The PVC-free sealant is likely to remain the most dominant as well as the faster-growing product type during the forecast period. PVC-based sealants are rarely used for food and beverage packaging because of undesired substances that may get migrated into food.

Based on the end-use industry type, the market is segmented as food, beverage, aerosol, and others. Food is likely to remain the largest consumer of can & closure sealants over the next five years in terms of value, whereas, in terms of volume, the beverage is likely to remain the largest consumer of can & closure sealants. The aerosol is likely to witness the highest growth over the next five years.

Based on the material type, the can & closure sealants market is segmented as silicone, polyurethane, acrylic, and others. Silicone is likely to remain the most dominant as well as the fastest-growing sealant material during the forecast period. Polyurethane is likely to remain the second-largest sealant material type over the same period.

In terms of regions, Asia-Pacific is projected to remain the largest and the fastest-growing market during the forecast period. China and India are the growth engines of the Asia-Pacific's can & closure sealants market. Globally, China is likely to remain the second-largest can & closure sealants market during the forecast period.

North America and Europe are also likely to generate even-handed demand for can & closure sealants in years to come. The North American market is largely driven by the USA which is expected to remain the largest can & closure sealants market globally during the forecast period, driven by a fair growth in the metal packaging industry coupled with the presence of a large number of tier players including metal can manufacturers and distributors.

The supply chain of this market comprises raw material suppliers, sealant manufacturers, food & beverage packaging companies, and end-users. Siloxane, glycol, PVC, isocyanate, and other polymers are some of the raw materials used to make sealants. Henkel AG & Co. KGaA, Altana AG, UBIS (Asia) Public Company Limited, Fukuoka Packing Co., Ltd., Tekni-Plex, Inc., and Advanced Chemical Industries S.A.E. are the major suppliers of sealants for can & closures globally. It is anticipated that the market is likely to remain consolidated in years to come. New product development, application development, and execution of M&As are the imperative growth strategies, adopted by most of the market participants in order to better position themselves in the market.

Key Topics Covered

1. Executive Summary

2. Can & Closure Sealants Market Overview and Segmentation

3. Can & Closure Sealants Market Assessment

4. Competitive Analysis

5. Can & Closure Sealants Market – Application Type Analysis

6. Can & Closure Sealants Market – Technology Type Analysis

7. Can & Closure Sealants Market – Product Type Analysis

8. Can & Closure Sealants Market – End-Use Industry Type Analysis

9. Can & Closure Sealants Market – Material Type Analysis

10. Can & Closure Sealants Market – Regional Analysis

11. Can & Closure Sealants Market – Strategic Growth Opportunities

12. Company Profile of Key Players

• Henkel AG & Co. KGaA
• ALTANA AG
• UBIS (Asia) Public Company Limited
• Fukuoka Packing Co. Ltd. (Part of Toyo Seikan Group)
• Tekni-Plex Inc.
• Advanced Chemical Industries S.A.E.

For more information about this report visit https://www.researchandmarkets.com/r/ktha51

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