The growth of the Indian metallic packaging industry is highly dependent on the progress made by the overall economy. With the country’s economy doing fairly well, the retail sector booming, and consumer awareness on the recycling and environmental benefits of tinplate packaging rising, the outlook for the industry looks positive.
New analysis from Frost & Sullivan, Analysis of the Indian Tinplate Packaging Market, expects sales volumes of tinplate packaging to go up from 611,000 Metric Tons (MT) in 2014 to 781,500 MT in 2019. The study covers the end-user segments of edible oil, beverage, processed food, paints and pesticides, aerosol, end and lugs, battery, pharmaceutical and others. Of these segments, the processed food industry will witness the fastest growth.
“The rapid increase in consumer consciousness on health and safety-related issues has necessitated the use of high-technology packaging material such as tinplate to safeguard products to the best possible extent,” said Frost & Sullivan Metals & Minerals Research Analyst, Suresh Kumar Vaithiyanathasamy. “As consumer preferences change and the Indian Government implements policy initiatives such as the enforcement of hygiene norms in the food industry, the tinplate packaging market in the country will make further headway.”
However, the use of plastic and tetra packages as replacement materials for tin steel in food and non-food packaging applications are hindering market expansion. To overcome this situation, the Indian tinplate packaging industry has started developing light-weight products.
Substantial imports of low-priced tinplate – namely secondary grade and defective products – especially from Japan, South Korea and China has nevertheless dampened the prospects of Indian manufacturers as end users prefer cheap procurement to reduce raw material costs. In essence, competition from foreign players has lowered domestic tinplate manufacturing capacity utilization as local participants have not made products of various grades available.
“Product development through regular R&D activities and product customization based on end-user preferences and frequent feedback will bring in long-term clients for tinplate manufacturers in India,” concluded Vaithiyanathasamy. “Strong customer relationships and brand value will also help local tinplate manufacturers succeed in the market.”
Analysis of the Indian Tinplate Packaging Market is part of the Metals & Minerals (http://ww2.frost.com/research/industry/metals-minerals) Growth Partnership Service program. Frost & Sullivan’s related studies include: Grown Diamonds: Unlocking Future of Diamond Industry by 2050, Yearly Sectoral Analysis - Iron and Steel Sector, Consumer Perception - Grown Diamonds, and Growth Engines of the Global Zinc Market and their Effect on India. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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