NEWARK, DE / ACCESSWIRE / March 9, 2023 / The paint cans marketis predicted to be worth US$ 5,117.84 billion in 2023, and rise to US$ 7,680.93 billion by 2033. Initially, the global market was expanding at a CAGR of 3.1% from 2018 to 2022.
The need for paint cans to improve the aesthetic appeal of buildings has been fueled by the accessibility of a broad variety of external paints. Due to this, packaging products became widely used globally, increasing the market share.
The use of cationic electrocoating chemicals in high-tech paints, which cover all the nooks and crannies of multifarious metal parts and prevent corrosion, is on the rise. This makes the manufacturers consider the technological aspects of the market.
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Transport-friendly paint cans are even more necessary due to the increased demand for them from eCommerce portals. Paint cans sales are projected to increase as a result of how much easier they are to transport than their alternatives.
Due to the industry's expansion, there is now a great demand for paint cans in several fields, including residential and commercial buildings. Furthermore, these items gain traction as a result of market-driving applications like wood, coils, automotive & transportation, and industrial metals.
Key Takeaways
- By 2033, the United States is expected to show high potential in the paint cans market, with a size of US$ 2,284.01 billion and a CAGR of 2.2%.
- The paint cans market was significantly expanding, with a size of US$ 4,911.79 billion in 2022.
- Market shows amazing opportunities due to multiple applications, and expects an Y-o-Y growth rate of 4.2% in 2023.
- The expansion in China is anticipated to expand at an adequate CAGR of 5.3% by 2033.
- By 2033, Germany is likely to expand in the paint cans market, with a size of US$ 905.78 billion.
- By 2033, the paint cans sector is likely to increase in India, with a size of US$ 2,275.26 billion.
- The expansion in the United Kingdom is anticipated to expand at an adequate CAGR of 2.7% by 2033.
- Based on the product type, the metal cans expect a CAGR of 4.8% by 2033.
- Based on material type, metal continues to dominate the sector during the forecast period, with a CAGR of 4.9%.
- Based on the capacity, the 1001 to 2000 ml continues to dominate the sector during the forecast period, with a CAGR of 4.2%
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Key Strategies in the Industry
To preserve product quality and increase their regional presence, the multinational firms have integrated their raw material production and sales activities. As a result, firms gain a cost advantage that boosts profit margins and offers them a competitive edge.
Some paint manufacturers may increase demand by including small paint cans in their product lineups. Corporations are also placing a greater emphasis on their research and development activities, in order to stay competitive and meet the evolving demands of end users.
Recent Developments
- Mauser Packaging Solutions purchased Global Tank Srl in April 2021 to broaden its selection of industrial packaging goods and services in the Italian market.
- To create and improve practical technology for paint cans, Crown Holdings collaborates closely with paint can manufacturers.
Key players
- Ball Corporation
- RPC Group Plc.
- Silgan Containers LLC
- Kian Joo Can Factory Berhad
- Colep Portugal, S.A.
- BWAY Corporation (MAUSER Packaging Solutions)
- National Can Industries Pty. Ltd.
- High Density Polyethylene (HDPE)
- Polypropylene (PP)
- Tin
- Steel
Key Segment
By Product Type:
- Metal Cans
- Plastic Cans
- Hybrid Cans
By Material Type:
- Plastic
- Metal
By Capacity:
- 1000 ml and below
- 1001 - 2000 ml
- 2001 - 3000 ml
- 3001 - 4000 ml
- 4001 ml and above
By Region:
- North America
- Latin America
- Europe
- South & East Asia
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Table of Content
1. Executive Summary | Paint Cans Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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