With an increase in manufacturing operations and more affordable labour in economies in East Asia and South East Asia, the crucial function of plastic in packaging has advanced significantly. The expansion of global trade has led to an increase in the manufacturing of various goods, including chemicals, paints, electronics, and electrical components.
It goes without saying that this has increased the demand for drums, which are needed for packaging and are made of rigid packaging materials like plastic. As commerce develops, end users will exhibit a high demand in the following ten years. This type of rigid packaging has been used more and more over the years due to its exceptional strength, light weight, and recyclable nature.
Despite the contentious discussions surrounding the use of plastic, analysts at FMI expect that this tendency will continue.
Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-11925
Rigid Packaging Containers Market Outlook & Key Findings
- Rigid packaging containers market is projected to reach over US$ 235 Bn in the next 5 years
- Consistent demand for rigid packaging containers for contamination-free storage of both industrial and non-industrial goods uplifts market growth
- Rigid packaging containers market projected to expand at CAGR of 4.0% during the forecast period
- Asia Pacific and Europe are anticipated to dominate with market value share by approximately 65% in the global rigid packaging containers market by 2030
- Uptake of rigid packaging solutions sprint toward using recycled and recyclable materials as consumer consciousness shifts
Rigid Packaging Containers: A Sturdy Future Ahead
The growth trend of the rigid packaging containers market is likely to be upward in the coming decade. Though Y-o-Y growth is steady, market is projected to record 4.4% growth from 2022. Prominent industries such as food, beverages, healthcare, personal care, and others are significantly dependent upon rigid packaging containers such as bottles, jars, cans, and drums to pack, store, and transport the goods.
New environmental regulations and end user industries approach towards sustainable rigid packaging containers such as plastic and steel drums, jerry cans, kegs have led manufacturers to update their recycling program and manufacture highly sustainable rigid packaging containers.
Rigid Packaging Containers Market: Regional Analysis
North America is severely affected with COVID-19, which has drastically hindered the usage of rigid packaging containers. Moderate shutdowns in production plants coupled with labor strikes and job cuts are anticipated to slow down the growth rate for rigid packaging containers in the region.
Ask an Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-11925
Rigid Packaging Containers: Competition Landscape
The global rigid packaging containers market is fragmented in nature with key manufacturers focusing on providing tailored solutions as per the end-use industry demand. The leading manufacturers operating in the global rigid packaging containers market are focusing on maximizing production volume, expanding their reach globally, and diversifying their product portfolio.
For Instance, in 2016, Ball Corporation, one of the leading beverage can manufacturers acquired Rexam PLC, a manufacturer of aluminum and steel cans for carbonated soft drinks, energy drinks, beer, and other beverages. This acquisition enabled Ball Corporation to maximize its production volume of beverage cans.
Some of the key players in the rigid packaging containers market are-
- Grief, Inc.
- Amcor Plc
- Berry Global Group, Inc
- Silgan Holdings, Inc
- Sonoco Products Company
- Mauser Packaging Solutions
- Ball Corporation
- Crown Holdings, Inc
- Pactiv LLC
- SCHÜTZ GmbH & Co. KGaA
Market Taxonomy
By Product Type:
- Bottles & Jars
- Cans
- Jerry Can
- Drums
- Kegs
- Clamshells
By Material:
- Plastic
- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- Polypropylene (PP)
- Others Plastic
- Metal
- Steel
- Aluminum
- Other Metals
By Capacity:
- Up to 5 Litre
- 5 to 20 Litre
- 20 to 50 Litre
- 50 to Above
By End Use:
- Food
- Beverages
- Homecare Products
- Personal Care Products
- Healthcare Products
- Electronics & Electrical
- Industrial Goods
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
Report Customization available @ https://www.futuremarketinsights.com/customization-available/rep-gb-11925
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com