According to analysts at FMI, the global steel containers market is appraised at US$ 115.43 billion in 2022, with a projected upward trajectory, expecting a Compound Annual Growth Rate (CAGR) of 3.0% in the forecast period spanning from 2022 to 2032. This outlook suggests a sustained expansion in the market, driven by the versatile applications of steel containers across various industries. The robust CAGR underscores the enduring demand for steel containers, emphasizing their durability, reliability, and eco-friendly characteristics. As global needs for efficient and sustainable packaging solutions persist, the steel containers market is poised for significant growth in the coming decade.
Anticipated over the forecast period, a substantial uptick is foreseen in the utilization of steel containers, particularly driven by the escalating demand within the food industry for storage, handling, and transportation of diverse food items. The growth of steel containers is propelled by their increasing prevalence in the food sector, where kegs find common use for packaging beer and spirits, cans and bottles cater to carbonated beverages, and steel containers are a prevalent choice for packing oil. This diverse applicability underscores the versatile nature of steel containers, contributing to their expanding market presence and affirming their crucial role across various industrial segments.
The Asia Pacific Excluding Japan (APEJ) region is poised to emerge as a lucrative market for the steel containers industry throughout the forecast period, driven by the presence of burgeoning economies, a rising disposable income, and the robust expansion of the food, beverage, and chemical sectors. The favorable conditions in APEJ, characterized by economic growth and a thriving industrial landscape, position the region as a key contributor to the increasing demand for steel containers. As these industries continue to flourish, the steel containers market is expected to witness significant opportunities and sustained growth in the dynamic and rapidly evolving APEJ market.
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The Evolution of Steel Containers Market
The history of steel containers dates back to the late 1950s when Malcolm McLean revolutionized the shipping industry by introducing the concept of containerization. His innovation paved the way for the modern Steel Containers Market, streamlining global trade and logistics. Over the decades, these containers have evolved to meet the demands of diverse industries, fueling the growth of international commerce.
Advantages of Steel Containers
Steel containers offer a myriad of advantages that have contributed to their widespread adoption in various sectors. Some key benefits include:
1. Superior Durability and Protection
Steel containers are built to endure the toughest conditions, protecting goods from moisture, pests, and theft during transit. Their sturdy construction ensures that valuable cargo remains secure throughout the journey, minimizing losses and damages.
2. Intermodal Flexibility
The standardization of steel containers enables smooth transfer between ships, trucks, and trains without the need to unload and reload the cargo. This intermodal flexibility expedites the transportation process and reduces handling costs.
3. Cost-Effectiveness
Steel containers offer a cost-effective solution for shipping goods globally. Their reusability and low maintenance costs make them an economical choice for businesses of all sizes, enhancing their competitiveness in the market.
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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