Metal Cans, Barrels, Drums and Pails MarketReport Overview
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The global metal cans, barrels, drums and pails market size was USD 72600 million in 2021 & the market is expected to reach USD 99523 million by 2031, exhibiting a CAGR of 3.2% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the metal cans, barrels, drums and pails market growth and demand returning to pre-pandemic levels once the pandemic is over.
Metal pails, barrels, drums, and cans are daily necessities. These adaptable containers are dependable and durable for everything from transporting hazardous materials to keeping food and beverages. The market for metal cans, barrels, drums and pails is rising as more businesses want these containers. Tin cans are one kind of metal can that has grown in popularity. These cans are frequently used to package foods, including soups, fruits, and vegetables in cans. They offer an airtight seal, preserving the products' freshness and lifespan. Tin cans are practical and aesthetically pleasing, frequently sporting vibrant labels and patterns.
Contrarily, barrels are larger containers typically used for storing and transporting liquids. They are perfect for industrial uses because they are available in various sizes and can store a sizable amount of liquid. Barrels offer a safe and effective method for storing anything, including chemicals, wine, and oil. While drums and barrels are similar, they are generally employed for storing and transporting hazardous materials. They are built to withstand demanding conditions and adhere to safety standards. Depending on the requirements of the contents they will hold, drums can be made of different materials like steel or plastic. Smaller containers often used for household purposes are pails, also called buckets. They are adaptable and can be used for various jobs, including carrying water, gardening, and cleaning.
"COVID-19 Impact: People Staying At Home And Cooking More Than Ever Accelerated Market Growth "
Metal cans, barrels, drums and pails have experienced a significant market impact due to the COVID-19 outbreak. The need for metal cans for food storage and preservation has increased dramatically as more people cook at home. Metal cans have become a pantry staple for soups, sauces, canned veggies, and more. They help keep food fresh for longer periods in addition to being strong and long-lasting. Because of this, the metal cans market has experienced a huge increase in sales, which is great for the industry's suppliers and producers. The need for metal drums and pails has also significantly increased, along with the demand for hand sanitizers and cleaning supplies.
Latest Trends
"Advancements In Technology And Design Boost The Market Expansion"
There has recently been an intriguing new trend in the metal cans, barrels, drums and pails market. Manufacturers may now produce inventive and adaptable containers that are useful and developments in technology and design. These metal containers are no longer just basic and functional; they are available in various hues, textures, and designs that set them apart. Consumers seeking functional yet fashionable packaging options are taking notice of this most recent development in the market for metal cans, barrels, drums and pails. These contemporary storage containers offer strength and aesthetic appeal that are difficult to resist, whether used to store food, chemicals, or other items.
Segmentation
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- By Type Analysis
The metal cans, barrels, drums and pails market can be segmented into made by metal cans (aluminum cans, steel cans), metal barrels, and metal drums & pails. Among these, metal cans (aluminum cans, steel cans) are projected to experience rapid growth through 2031.
- By Application Analysis
The market can be divided based on application into food & beverage, pharmaceutical, personal care & cosmetics, and others. Food & beverage is expected to hold the most significant metal cans, barrels, drums and pails market share in the upcoming years.
Driving Factors
"The Increasing Demand For Sustainable Packaging Solutions Propels the Market Expansion"
The market for metal cans, barrels, drums and pails is booming because of innovation and excitement. The growing demand for environmentally friendly packaging options is one of the main drivers behind this increase. Consumers are looking for alternatives to single-use plastics as they become more aware of their environmental impact. Regarding product packaging, metal cans, barrels, drums and pails are a reliable and recyclable choice. This trend is fueling market growth as businesses work to satisfy the demands of customers who care about the environment.
"The Increasing Awareness About The Harmful Effects Of Traditional Paper Production On Our Environment Fuels the Market Growth"
The industrial sector is also aiding this market's expansion. Metal cans, barrels, drums and pails are crucial for various industries, including chemicals, oil and gas, food and beverage, storage, transportation, and containment. These containers are the best for securely storing and transporting hazardous materials because of their strength and longevity. Metal cans, barrels, drum, and pails are in high demand due to the industrial sector's need for dependable packaging solutions, further boosting the market's expansion.
Restraining Factors
"The Increasing Competition From Alternative Packaging Materials Such As Plastics And The Fluctuating Prices Of Raw Materials Hinder The Market Growth"
This market is increasing and offers countless opportunities! But there are some obstacles that we need to overcome. The growing competition from substitute packaging materials like plastics is one of the major issues. Although durable and recyclable metal cans, barrels, drums and pails have many benefits, businesses must develop new ideas to stay ahead of the competition. The fluctuating cost of raw materials, which can affect the total cost of production, is another aspect to consider. Despite these difficulties, this market is still thriving because of its adaptability and dependability.
Metal Cans, Barrels, Drums and Pails Market Regional Insights
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"North America to Dominate Market Due To The Increasing Demand For Eco-Friendly Alternatives To Traditional Paper Products"
Between 2022 and 2031, the metal cans, barrels, drums and pails market will be dominated by North America. Factors driving the market growth in this region are the increasing demand for sustainable packaging solutions.
Additionally, the market is anticipated to experience the fastest growth in European and Asian countries (India, China, Japan, and South East Asia). The increasing awareness about the harmful effects of traditional paper production on our environment fuels market expansion.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Ball Corporation (U.S.)
- Crown Holdings (U.S.)
- Ardagh group (Luxembourg)
- Toyo Seikan (Japan)
- Silgan Holdings Inc (U.S.)
- Can Pack Group (Poland)
- Daiwa Can Company (Japan)
- ORG Technology (China)
- CPMC Holdings (China)
- Hokkan Holdings (China)
- Baosteel Packaging (China)
- Showa Aluminum Can Corporation (Japan)
- ShengXing Group (China)
- Mauser Group (U.S.)
- Greif Industrial (U.S.)
- Schütz (Germany)
- Fustiplast (Italy)
- TR Lentz (U.S.)
- Plastimol (Spain)
- Bilcam (U.S.)
- Bidones Egara (Spain)
- Brambilla (India)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 72600 Million in 2021 |
Market Size Value By |
US$ 99523 Million by 2031 |
Growth Rate |
CAGR of 3.2% from 2021 to 2031 |
Forecast Period |
2022-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the metal cans, barrels, drums and pails market expected to touch by 2031?
The global metal cans, barrels, drums and pails market is expected to reach USD 99523 million by 2031.
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What CAGR is the metal cans, barrels, drums and pails market expected to exhibit by 2031?
The metal cans, barrels, drums and pails market is expected to exhibit a CAGR of 3.2% by 2031.
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Which are the driving factors of the metal cans, barrels, drums and pails market?
The driving factors of the metal cans, barrels, drums and pails market are the increasing demand for sustainable packaging solutions and the increasing awareness about the harmful effects of traditional paper production on our environment.
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Which are the key players or most dominating companies functioning in the metal cans, barrels, drums and pails market?
Ball Corporation (U.S.), Crown Holdings (U.S.), Ardagh group (Luxembourg), Toyo Seikan (Japan), and Silgan Holdings Inc (U.S.) are some of the top companies in the metal cans, barrels, drums and pails market.
