Market Overview:

The Global Laminated Steel For Cans Market Was Valued At US$ 44.1 Million In 2022, And Is Expected To Exhibit A CAGR Of 16.7%, In Terms Of Revenue, Over The Forecast Period (2023-2030) To Reach US$ 151.7 Million By 2030. 

Laminated steel is steel that is made up of layers of different kinds of steel instead of a single type of steel. It is used to make cans, blades, and other kinds of hardware. Before, it was important to hide the steel because the process of making steel involved purifying iron. Laminated steel has the usual properties of steel, and it also stops high-carbon steel from getting into places where it shouldn't. Laminated steel edges are used in some situations where different properties of steel are needed at different places on the edge. This can be done by using a different mix of compounds. Since it was hard to make high-carbon steel, different composites of steel were used to cover the parts that needed it and meet the need.

Changes in the prices of raw materials, on the other hand, are likely to slow the growth of the global market over the next few years. The growth of the target market is also expected to be slowed by the growing demand for packaging materials other than metal, such as plastic and paper. Continuous growth in the market is driving the need for safe and new food sources, which is helping metal cans become a good way to protect food over the next few years. Makers in the target market are likely to find new ways to make money by making metal cans that are better for the environment and can be recycled more often.

Market Dynamics:

Market Trends:

• Increasing Demand for Sustainable Packaging

Concerns about the environment have made the world pay more attention to sustainable packaging solutions. Laminated steel cans have many benefits, such as being strong and protecting the product inside. They can also be recycled. This has made people want to use laminated steel cans as a way to package things that are good for the environment.

• Growing Food and Beverage Industry

Laminated steel cans are used a lot in the food and beverage industry. With more people living in cities and changing consumer habits, there has been a rise in the demand for processed and packaged food and drinks. This is good for the market for laminated steel for cans.

Driving Factors:

• Increasing Demand for Lithium-Ion Batteries for Various Electrical Applications

Micro-mobility companies have started selling e-bikes and e-scooters in response to the growing demand for short-distance travel using different micro-mobility channels. These vehicles are convenient because they can pick you up and drop you off anywhere and are cheap. In recent years, the number of people using these "micro-mobility" ways to get around has grown a lot. In the past few years, a number of e-scooter mobility startups have popped up in developed countries like the U.S. and Germany.

• Growing Demand for Aluminum Laminated Film in Packaging & Pharmaceutical Industry

The food packaging industry and the pharmaceutical industry are driving the growth of the market for aluminum laminated film. Aluminum laminated film is used a lot in the food packaging industry because it has high barrier properties and can keep foods fresh for longer. Aluminum laminated film is likely to become more popular as the number of people who want ready-to-eat and easy-to-make foods grows. A lot of aluminum laminated film is also used in the pharmaceutical industry to package drugs and medicines. For example, the European Aluminum Foil Association says that the demand for aluminum foil rose to 494,000 tons in the first half of 2022.

• Consumer Preference for Metal Packaging

Consumers often have a good opinion of metal packaging, such as laminated steel cans. People think of quality, durability, and reliability when they see metal cans. Consumers like metal packaging because it protects the products and helps them keep their taste, smell, and nutritional value. Metal cans are popular with consumers because they look nice and can be used more than once. They can also be resealed.

Restraints/Challenges:

• Volatility in Raw Material Prices

Steel is one of the main raw materials used to make laminated steel cans. Its price can go up and down. Changes in the price of steel can have a direct effect on the costs of production for manufacturers, which can affect their profit margins. The cost of laminated steel cans can also be affected by big changes in the availability and price of other raw materials used in the lamination process, such as polymers and coatings.

• Environmental Concerns and Regulations

Even though laminated steel cans can be recycled, the making and recycling of them can be bad for the environment. Steel production takes a lot of energy, and the infrastructure needed to recycle laminated steel cans can be hard to set up and manage in terms of carbon emissions and waste. Stringent rules about the environment and a greater focus on sustainability may add costs and requirements for manufacturers to meet, which could affect the market.

• Limited Customization and Design Options

Compared to some other types of packaging, laminated steel cans may not give you as many options for design and customization. When printing on steel cans, the process can be more complicated than when printing on plastics or flexible packaging. This can make it harder for brands to stand out through the design and look of their packaging, which can hurt their market appeal, especially in industries where visual branding is important.

Opportunities:

• Innovation in Product Design and Functionality

Laminated steel cans offer a chance for companies to try new things and come up with new designs and functions. This can include things like lids that are easy to open, options for resealing, portion control mechanisms, and shapes that are comfortable to hold. Manufacturers can attract customers and set their products apart on the market by making their products easier to use and more convenient.

• Expansion into New Application Areas

Even though the food and beverage industry uses a lot of laminated steel cans, there are ways to use them in other areas as well. For example, non-food items like personal care products, chemicals, and aerosols can be packaged in laminated steel cans. By making a wider range of products and going after new industries, manufacturers can reach more market segments and get more customers.

• Development of Lightweight Laminated Steel Materials

Transportation costs and concerns about the environment are making people want lighter packaging solutions more and more. There is a chance to make laminated steel materials that are strong and protective but don't add too much weight to the cans. This can help manufacturers meet the demand for packaging that is more efficient and good for the environment.

Strategic Development:

• In July 2019 - Ardagh Group S.A. said it would sell its metal packaging business to Trivium Packaging in a deal worth USD 2.5 billion.
• In April 2019 - Berlin Packaging bought the French packaging supplier Verrerie Calvet. This was done to strengthen its position in the European Market.
• In 2020 - Showa Denko will release a new product made of aluminum-laminate film. SPALF is a laminated composite film made of aluminum foil and resin films. It is mostly used to package LIBs that come in pouches. SPALF has a large market share around the world because of how well it insulates and how flexible it is. LIBs that come in a pouch can be shaped in a lot of different ways and are used in many small devices, like smartphones and tablets. Also, pouch-type LIBs have become more common in large equipment, like EVs, in the past few years.
• In 2020 - Showa Denko will add a new product to its line of SPALFTM aluminum laminate film, which is used to package pouch-type lithium-ion batteries (LIBs). The new product will be mass-produced using equipment that will be installed. This new product is made for large LIBs, which are most often found in cars. The new equipment for making things is ready to be put to use.

Key Vendors:

Top market players

• Toyo Kohan

Steel sheets are made and sold by the company Toyo Kohan Co., Ltd. Its business is divided into three parts: Steel Sheet, Functional Materials, and Machinery.

• Gerui Group

Cold-rolled steel is made by China Gerui Advanced Materials Group Limited. The company makes high-quality, high-precision, ultra-thin, high-strength cold-rolled steel that is made to fit the needs of the customer. China Gerui sells its steel to companies that make containers for food, telecommunications equipment, electrical appliances, and building materials.

• ThyssenKrupp Steel

ThyssenKrupp AG (ThyssenKrupp) is a group of businesses that work together. It has businesses in the automotive, steel, and related processing, trading, construction, engineering, energy and utilities, public sector, packaging, and other customer sectors.

• ORG

The Org is a company that offers a website where people can work together to make organizational charts. Its platform makes charts that show the organizational structures of management. This way, users can see and understand how a business is run by looking at the pictures.

• Arena Metal

Arena Metal is an expert at buying and selling steel and other metals for customers in Turkey and nearby countries.

• Metalcolour

Metalcolour A/S makes things out of metals and coated steel. The company makes film-laminated steel and aluminum sheets that have already been painted. It also offers lamination, painting, printing, slitting, cutting, and embossing services. Customers from all over Denmark come to Metalcolour.

• Leicong

Leicong Industrial Co., Ltd. has been making DC motors, EI cores, and electrical steel for a long time and has a lot of experience with EI lamination and motor lamination. In addition to Electrical Steel, we offer Galvanized Steel, Toroidal Core, and Stamping Dies that are of higher quality and use more advanced technology.

• Polytech America LLC

Polytech America is a company that makes polymeric laminate metal sheets. These sheets are used to make the protective film that goes on food and aerosol cans.

• JFE Steel Corporation

JFE Steel is a company that makes steel. It takes raw materials like iron ore and turns them into finished products.

Segmentation Analysis:

The market is segmented on the basis of product, application and region.

By Product Outlook:

The market is split into PET Laminated Steel, PP Laminated Steel, and Others based on the product. Things like resistance to erosion, high strength, and being good for the environment will keep the item selection rate high. Also, it gets rid of the cycle of heating paint while the machine is being made, which makes it less contaminated. Mechanical improvements, like microstructure control technology, give electronic devices the strength, shapeability, and attractive protection they need, which helps the Laminated Steel For Cans Market grow.

• PET Laminated Steel
• PP Laminated Steel
• Others

By Application Outlook:

The market is split into Food and Beverage Packaging, Aerosol Packaging, and Others based on how it is used. The main thing that will drive the Laminated Steel For Cans Market during the set time period is the growing need for steel cans. Customers who live a high-end lifestyle are drinking more energy drinks and buying more packaged natural products. This is expected to help the market grow. Also, more people would buy canned tea drinks and espresso if they were more popular. This would help the market grow. Interest in drink cans would also be boosted by how common paperboard and light cans are. Central players in the global Laminated Steel For Cans Market are seeing their incomes grow both at home and from exports. But problems like increasing buyer bargaining power and a focus on good products at low prices are making the Aerosol Cans' inventory network change in important ways.

• Food and Beverages Packaging
• Aerosol Packaging
• Others

Regional Insights:

The global Laminated Steel for Cans market has been broken down by geography into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA).

Due to more people drinking alcohol and cocktails in neighboring countries, the North American market has made more money than any other market during the time period shown. The European market has the second highest CAGR. This is because more people are using steel cans as a way to keep food fresh, especially in Russia, which is producing more meat. The biggest changes in income are likely to happen in the Asia-Pacific region, where people are becoming more interested in good food and many countries have easy access to raw materials at low prices.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• The report also gives information about the latest industry, share, growth, trends, research, overview, and laminated steel for cans market trends.
• It also looks at how technologies are being used around the world at a fast pace.
• It also talks about some of the things that help the market grow and things that slow it down.
• The report also has an overview and an analysis of the industry.