November 29, 2019
According to the latest study titled ‘Global Tinplate Market (Value, Volume): Consumption Analysis By End Use (Packaging, Electronics, Construction, Others), By Region, By Country (2018 Edition), Forecast to 2023 -- By Region (North America, Europe, Asia Pacific, RoW), By Country (U.S.A, Canada, Mexico, Germany, France, United Kingdom, China, Japan, South Korea)’ available with Market Study Report LLC, the global tinplate market is estimated to grow with a CAGR of 5.68% through the year 2023.
Tinplates are basically steel sheets coated with tin layer to prevent it from rusting. It can be reused and recycled infinite number of times without losing its properties. They remain strong, light, and flexible and can be fitted into any shape as needed for branding and containers. Growing industrialization, coupled with rising concerns regarding equipment rusting are propelling the growth of tinplate market.
The study examines the market for revenue shares of each segment and offers insight about the expansion strategies adopted by manufacturers. It analyses the competitive landscape of tinplate market using SWOT analysis and Porter’s Five Force analysis methods. Information about the market dynamics influencing the market growth is also given in the report.
Based on end user spectrum, tinplate market is segmented into electronics, packaging, construction, and others. Tinplate market from packaging segment registered decent growth in the recent past and is presumed to expand over the analysis timeframe, pertaining to increase in demand for packaged food in developing countries, in tandem with rise in disposable incomes, claims the report.
Considering the geographical landscape, the global tinplate market is bifurcated into four major regions as Europe, North America, APAC, and rest of the world, with key focus on countries like Canada, U.S.A, Germany, Mexico, United Kingdom, France, Japan, China, and South Korea.
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As per the report, Europe tinplate market accounted for largest regional share in 2017, whereas APAC market is slated to experience strong growth over the forecast period, owing to growing demand for product from packaging industry as more consumers are opting for packaged foods.
Some of the vendors that operate in tinplate market are U.S. Steel, Arcelor Mittal, ThyssenKrupp, JFE Steels, Tata Steels, CPMC Holdings, Nippon Steel and Sumitomo Metal Corporation, and Tinplate Company of India Ltd.
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