In 2032, the market for steel containers is projected to be worth US$155.12 billion. The demand for steel containers is expanding quickly. According to FMI Analysts, the global market for steel containers is anticipated to reach US$ 115.43 billion in 2022 and is expected to grow at a CAGR of 3.0% from 2022 to 2032.
Steel containers are manufactures from different grades of stainless steel and specially designed for storage, shipping, and handling of various food, beverage, and other products. Steel containers have a rugged design, high strength, anti-corrosive nature and airtight finish which makes them ideal for safeguarding packed product from moisture and other contamination. Addition of thick wall finish for lasting usage makes them highly suitable for storing of products like pulses, nuts, cookies, tea, coffee, and others. Steel containers are offered in product types such as jars, cans, canister, bottles, drum, kegs, and IBC’s. Steel containers are available in various size & shape, and they are highly recyclable. Overall, the global steel containers market is expected to remain positive during the forecast period.
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Steel Containers Market: Dynamics
Steel containers are expected to gain significant traction over the forecast period. The increasing demand for steel containers in the food industry for the handling, storage, and shipping of various food products is likely to drive the growth of steel containers during the forecast period. The growing acceptance of kegs for packaging of beers and spirits, cans and bottle for carbonated beverages and oil are likely to escalate the growth of steel containers during the forecast period.
The steel containers are broadly used in chemical industries as reactor due to excellent isolation from external particles, maintains the properties of the chemical product, and inert nature. This factor is likely to push the growth of the global steel containers market during the forecast period. Also, the increasing use of steel containers for household purposes is foreseen to propel the growth of steel containers during the forecast period. Thus, the global steel containers market is projected to expand with notable CAGR during the forecast period.
Steel Containers Market: Regional Outlook
Presence of emerging economies, increasing disposable income and robust growth rate of food, beverage, and chemical industries in the Asia Pacific excluding Japan (APEJ) is expected to make them lucrative region for the growth of steel containers market during the forecast period. ASEAN countries and India are likely to register a noteworthy growth rate while China is expected to be at forefront regarding the market share of steel containers market during the forecast period. North America is a significant shareholder of global steel containers market and likely to register a notable growth rate during the forecast period.
The continuous expansion of end-use industries is expected to generate substantial demand for steel containers during the forecast period. The U.S. is expected to be highly attractive in terms of market share while Canada is likely to register the peak growth rate of steel containers market during the forecast period. The high growth rate of chemical, food and beverage industries in the Western Europe region. Also, the rising demand for effective & efficient containers for storage and shipping of such products are the key factors driving the growth of Western Europe steel containers market during the forecast period.
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Steel Containers Market: Key Players
Examples of some of the key players operating in the global steel containers market are:
Supermonte Group Italy, Inc.
SCHÄFER Container Systems
Unique Steel
Eagle Stainless
Ability Fabricators Inc.
Eco Imprints, Inc.
Müller GmbH
Thielmann – The Container Company
La Nuova Sansone S.r.l.
WADA STAINLESS INDUSTRY CO.,LTD.
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Key Segments Profiled in the Steel Containers Market
By Product Type:
- Jars
- Cans
- Canister
- Bottles
- Drums
- kegs
- IBC’s
By Capacity Type:
- Less than 2 liter
- 2 – 10 liter
- 10 – 20 liter
- 20- 50 liter
- 50 – 100 liter
- More than 100 liter
By End User:
- Food
- Dairy products
- Honey
- Grains
- Sugar
- Tea & Coffee
- Others
- Beverage
- Alcoholic Beverages
- Beers
- Spirits
- Non-Alcoholic Beverages
- Household
- Chemicals
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- (APEJ)
- Middle East and Africa
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