In its most recent market analysis, Future Market Insights (FMI) predicted that the paint cans market would likely see a year-over-year growth rate of 4.2% in 2023.
The market is anticipated to grow at a CAGR of 4.1% between 2023 and 2033, reaching a value of $7,680.93 million. Due to exceptional global sales, the paint cans sector is anticipated to be valued US$5,117.84 million in 2023. The fact that packaging is now more about the value of convenience, transportation, and storage than it is about how something looks has significantly increased the usage of paint cans. Steel and aluminium are still in great demand for use in the production of paint cans as a result.
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Paint Cans Market – Outlook
The global paint cans market is anticipated to accelerate at a moderate CAGR during the forecast period. A significant boost to the paint cans market is from the fact that packaging is no longer about the look but about the value of convenience, transportation, and storage. As a result, steel and aluminium remain highly sought-after materials for the manufacturing of painting cans.
Growth in the demand for spray paints has been recorded in the automotive industry, on the back of the increasing inclination for personalization and maintenance activities. This could act as a deterrent to the growth of the paint cans market during the forecast period.
In addition, the possibility of air transmission of coronavirus reestablished trust among individuals regarding paint cans away from spray paints, which is likely to uphold the sales during the forecast period. However, the demand for paint could decrease during the pandemic, owing to the lockdown imposed in different geographies across the world.
Besides this, the rising demand for paint cans from the eCommerce portals further require cans that are transportation-friendly. Since paint cans are more convenient to transport than their counterparts, their sales are likely to gather momentum.
Stringent Regulations Might Cause Effective Re-penetration of Metal Paint Cans
The study shows that despite the growth in market share of plastic paint cans in the initial years, the number of manufacturers of metal paint cans is more than those of plastic paint cans. This is due to the growing awareness regarding the use of plastic products, given their adverse effects on the environment. Metal paint cans are mostly made of steel, out of which, around 25% is recycled steel.
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Key Companies Profiled
- 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.
- Allied Cans Limited
- Aaron Packaging, Inc.
- Allstate Can Corporation
- Lancaster Container, Inc.
- Baltic Packaging A/S
- Envases Universales Group
Key Segment
By Product Type:
- Metal Cans
- Plastic Cans
- Hybrid Cans
By Material Type:
- Plastic
o High-Density Polyethylene (HDPE)
o Polypropylene (PP)
- Metal
o Tin
o Steel
By Capacity:
- 1000 ml and below
- 1001 – 2000 ml
- 2001 – 3000 ml
- 3001 – 4000 ml
- 4001 ml and above
Regional Analysis:
- North America
o U.S.
o Canada
- Latin America
o Brazil
o Mexico
o Argentina
o Rest of Latin America
- Europe
o Germany
o Italy
o France
o U.K.
o Spain
o Benelux
o Russia
o Rest of Europe
- South & East Asia
o India
o Thailand
o Indonesia
o Malaysia
o China
o Japan
o South Korea
o Rest of South & East Asia
- Oceania
o Australia
o New Zealand
- Middle East and Africa (MEA)
o GCC Countries
o Turkey
o Israel
o Northern Africa
o South Africa
o Rest of MEA
- Emerging Countries
o China
o India
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