During the projected period, a CAGR of 5.6% is expected to be achieved by the global bi-metal cans market. The market value is anticipated to increase from US$ 25 billion in 2021 to US$ 45.5 billion by 2032. The unique dual benefits of bi-metal cans above conventional single-metal cans are what are responsible for their increased popularity.
The bi-metal cans market has experienced substantial growth in recent years due to its numerous advantages over traditional packaging options. These cans provide an efficient barrier against light, oxygen, and moisture, ensuring the longevity and freshness of the products they contain. From the packaging of food and beverages to pharmaceuticals and chemicals, bi-metal cans have emerged as a preferred choice for manufacturers and consumers alike.
Bi-metal cans are used for packaging various products, such as food, beverages, chemicals, and pharmaceuticals. They are a popular choice for brands that want to ensure the safety and quality of their products while reducing their environmental footprint.
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Who are the Key Players in the Global Bi-metal Cans Market?
Sone of the key players in the global bi-metal cans market includes
- Ardagh Group S.A.,
- Ball Corp,
- Crown Holdings, Inc.,
- The Tinplate Company Of India Limited,
- NCI Packaging Pty. Ltd., and
- Cerviflan Industrial e Comercial Ltd.
Investment in collecting back the bi-metal cans by the product companies is a growing trend in many developed areas. Such strategies by consumable products manufacturers is anticipated to create a favourable demand for bi-metal cans in the future.
Major Developments in the Global Bi-metal Cans Market
- In January 2020, Ardagh Group purchased a facility of Huron at Ohio for increasing its production capacity of different types of metal cans. This major development is expected to increase the volume and sales of bi-metal cans of the company.
Key Benefits of Bi-metal Cans-
Bi-metal cans offer several key benefits that have contributed to their rising popularity:
- Superior Protection: The unique combination of aluminum and steel provides excellent resistance against external factors such as corrosion, impact, and temperature variations, ensuring the product remains intact and undamaged.
- Extended Shelf Life: The exceptional barrier properties of bi-metal cans effectively prevent spoilage caused by exposure to light, oxygen, and moisture, thereby extending the shelf life of the packaged goods.
- Eco-friendly: Bi-metal cans are highly sustainable as they are recyclable and contribute to reducing the carbon footprint. Recycling rates for aluminum and steel are among the highest, making bi-metal cans an environmentally responsible choice.
- Versatility: Bi-metal cans are available in various shapes and sizes, making them suitable for packaging a wide range of products, including beverages, canned foods, personal care items, and more.
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Which region commands the market for bi-metal cans globally?
Over the anticipated years, bi-metal can sales are anticipated to increase in several important regions like Europe and East Asia. China’s demand for bi-metal cans in East Asia is anticipated to increase at a rapid CAGR during the projection period. The demand for bi-metal cans in Asia Pacific nations is receiving the essential boost from the growing emphasis on sustainable resource consumption.
The market for bi-metal cans worldwide is dominated by Europe in terms of revenue contribution. When it comes to bi-metal can demand and growth rate in Europe, France and Belgium are anticipated to lead the market.
Market Trends and Analysis
The bi-metal cans market has witnessed significant growth due to changing consumer preferences, advancements in technology, and increasing awareness of sustainable packaging solutions. Let’s explore some of the key market trends shaping the industry:
1. Growing Demand for Canned Beverages- The increasing consumption of canned beverages, such as carbonated soft drinks, energy drinks, and ready-to-drink teas, has been a major driver for the bi-metal cans market. Consumers appreciate the convenience and portability of these cans, along with the assurance of product safety and freshness.
2. Shift towards Sustainable Packaging- With growing environmental concerns, both consumers and manufacturers are gravitating towards sustainable packaging solutions. Bi-metal cans, being recyclable and energy-efficient, align perfectly with these sustainability goals, driving their demand in various industries.
3. Technological Advancements in Manufacturing- The continuous development of advanced manufacturing technologies has significantly enhanced the production efficiency and quality of bi-metal cans. Improved forming processes, better bonding techniques, and automated production lines have made bi-metal cans more cost-effective and readily available.
4. Emerging Markets and Untapped Potential- The bi-metal cans market is witnessing remarkable growth in emerging economies, where increasing disposable incomes and changing lifestyles are driving the demand for convenient and packaged food and beverages. These regions offer substantial untapped potential for manufacturers and present lucrative opportunities for expansion.
5. Branding and Design Innovations- To stand out in the competitive market, brand owners are focusing on innovative designs and eye-catching graphics for bi-metal cans. The ability to print high-quality images, vibrant colors, and intricate patterns on the cans allows companies to create visually appealing packaging that attracts consumers.
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About Future Market Insights, Inc.
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