The global metal cans market size is anticipated to showcase progressive growth rate in the coming years on account of the increasing demand for canned products from various industries. Metal cans are containers made of tin, aluminium, or zinc-plated steel. They are used for storing paint or food for longer shelf life. A recent report by Fortune Business Insights, titled, “Metal Cans Market Size, Share & Industry Analysis, By Material (Aluminium, Steel & Tinplate, Aerosol), By Application (Food, Health Care Products, Industrial Chemicals, Personal Care & Cosmetic) Others and Regional Forecast, 2022 – 2029,” offers a qualitative and quantitative analysis of the market and predicts the growth avenues in the coming years.
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The report offers a 360-degree overview of the market and its growth trajectories. This includes drivers, restraints, challenges, and growth opportunities. Besides this, the report talks about the significant industry developments, current trends prevalent in the market and the other interesting insights into the market. The report also discusses the table of segmentation in detail and mentions the list of the leading segments with market figures. The report is available for sale on the company website.
Drivers & Restraints-
Increasing Demand from Food and Beverage Industry to Aid in Expansion
Metal cans have higher recyclability than the other products and therefore, are more popular. This acts as the principal metal cans market growth driver. Additionally, the increasing demand for metal cans from the food and beverage industry is also aiding in the expansion of the market. This, coupled with the rising application of metal cans for industrial packing, storing paint, and others are likely to augment the growth of the market in the coming years.
However, the presence of durable polymeric materials that are used in sealing the metal cans may cause health issues and are hence, considered to hinder the growth of the market in the forecast period. Nevertheless, the increasing demand for metal cans from a variety of applications such as cosmetics, solvents, dyes, healthcare products, industrial chemicals, paints, and others are expected to create lucrative growth opportunities for the market in the coming years.
The Market is Segmented into the Following Ways:
The global market is categorized on the basis of material and application. Based on material, the market is classified into aerosol, steel & tinplate, and aluminium. With respect to categorization by application, the market is divided into food, beverages, healthcare products, industrial chemicals, and personal care & cosmetic. The food segment is further classified into edible oil, meat, fruits, vegetables, and others, whereas the beverages segment is further sub-divided into alcoholic beverages, non-alcoholic beverages, and others.
Asia Pacific Dominated Market on Account of High Production and Consumption Rates
Geographically, Asia Pacific emerged dominant on account of the increasing production and consumption of beverage products packaged in metal cans. Countries such as Taiwan, South Korea, China, and India are the leading nations operating in this market. Europe is holding the second-largest metal cans market share on account of the stringent regulations imposed on the use of plastic that promoted the demand for metal cans. Furthermore, North America is likely to show significant growth in the coming years on account of the increasing demand for these cans from the U.S. This is further attributed to the use of single-use plastic ban in some states such as California.
Some of the Key Players of the Metal Can Market Include:
Kaira Can Company Limited
Shanghai Baoyi Can Making Co., Ltd.
Guangzhou hengyu Iron printing& Can-making Co., Ltd.,
Ardagh Group S.A.
Toyo Seikan Group Holdings
Chumboon Iron-Printing & Tin-Making Company Limited
Players Engaging in Strategic Collaborations & Joint Ventures for Holding Prominent Position
Currently, the players functioning in this market are engaging in mergers and acquisitions, joint ventures, contracts and agreements, and other collaborative strategies to attain significant positions in the market. They are also emphasizing on expanding their geographical reach to emerge dominant in the market competition.
Major Industry Developments of the Market Include:
April 2019 – Verrerie Calvet was acquired by Berlin Packaging for strengthening its position as a packaging supplier in the market in Europe.
July 2019 – Ardagh Group S.A. declared the selling off of their metal packaging business in a hopping deal to Trivium Packaging for USD 2.5 billion.
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