Analysis of the Indian Tinplate Packaging Market : Food Safety Norms and Dynamic Growth of Retail Sector are Key Drivers
Jun 25, 2015, 09:32 ET
NEW YORK, June 25, 2015 /PRNewswire/ -- Key Findings
•Growth of the metal packaging industry is highly dependent on growth of the economy.
•The Indian economy is witnessing stable growth, changing demographics and life styles, increasing disposable incomes, and so on.
•Such trends are creating enormous business opportunities for packaging industries, especially for sectors such as food, drinks, retail, fast moving consumer goods (FMCGs), pharmaceuticals, and so on.
•Further, the demand for tinplate packaging is supported by the growing consumer awareness and demand for processed food.
•The total metal packaging market in India was valued at close to ? billion in 2014.
•With growing opportunities for the metal packaging industry in India, the tinplate packaging market will experience substantial growth during the forecast period.
•The current per capita consumption of tinplate packaging in India is very low as compared to that of other developing countries such as China and Taiwan, showing greater potential for the packaging industry.
•There will be increased urbanization along with a rapid growth in India's middle-class population from x billion in 2012 to x billion by 2030. This will increase the overall consumption of tinplate packaging.
•Retailing is one of the key sectors of India's economy, contributing about - x % of the country's GDP.
•The Indian retail market is expected to be valued at ? billion in 2015 and is likely to emerge as one of the top five retail markets globally by economic value.
•There has been a rapid increase in consumer consciousness about health- and safety-related issues, which necessitates the use of high technology packaging to safeguard products to the best possible extent.
•Policy initiatives by the government and changing consumer preferences will drive the overall packaging market, including metal (tinplate) packaging products.
Aerosol and processed food products are the future attractive segments in the tinplate packaging market.
Having long-term tie-ups with key customers will lead to increased market share and brand credibility.
Evolution of x smart cities, coupled with rapid urbanization, will drive the food industry and, in turn, impact the tinplate packaging market.
Product development through regular research and development (R&D) activities and product customization based on end-user preference or frequent feedback will bring in long-term clients for tinplate manufacturers.
Preference for non-prime grade tinplate products is higher due to the varied applications offered and price-sensitive customers.
Market Overview—Tinplate Packaging Market Sales Break-up
•Tinplate is one of the downstream products of the steel industry. It is used by the metal packaging industry.
•The total demand for tinplate packaging in India is about x MT, against which indigenous availability is approximately x MT and the balance is imported from different countries.
•India is known as the "net importer of tinplates in Southeast Asia", as % of the total tinplate packaging demand is met through imports.
•Domestic production comes from only x key tinplate manufacturers, namely, the Tinplate Company of India Limited (TCIL), GPT Steel Industries Limited (GPT Steel), and JSW Vallabh Tinplate.
•Apart from these, the demand for tinplate also arises from crown cap manufacturers who produce tin-free steel which caters to manufacturers of beer, fruit juices, carbonated drinks, and battery jackets.
Market Overview—Tinplate Packaging Market Supply
•TCIL accounted for about x % of the total domestic production in India. The company maintained its leadership position in the steadily growing Indian tinplate packaging market in 2014.
•JSW Vallabh Tinplate is a new participant in the Indian tinplate industry, but has become one of the major producers of secondary grade tinplates in India.
•With production capacity of x MTPA, JSW Vallabh Tinplate operates as a subsidiary of JSW Steel Ltd.
•Another key participant in the market is GPT Steel, which accounted for about x % of the overall production in India in 2014.
•Currently, GPT Steel is facing stiff competition from importers, resulting in utilization of only x % of the total capacity.
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