Metal Cans Market 2021: Challenges, Growth Drivers
According to Market Research Future (MRFR), the global metal cans market is estimated to grow at a CAGR of 3.5% from 2017 to 2023 (forecast period). The report addresses the strengths, opportunities, challenges, and potential business risks and provides an extensive overview of the global market situation with the results of COVID-19.
Metal cans were first introduced as metal packaging systems for alcoholic and non-alcoholic beverages at the beginning of the nineteenth century. As technology progressed, its scope of application grew to a range of end-use commodity packaging purposes, like chemicals, edible food & beverage items, and oil. Steel cans are mainly made up of materials such as aluminum, steel, and tin, which make up almost one-third of the metal packaging industry. The metal cans are lightweight and easy to stack. The biggest advantage of metal cans is that they are 100% recyclable without degrading the quality and sturdiness of the material. The current recycling rate of metal can be approximately two and a half times higher than any other subordinate packaging solution. One of the key benefits of recycling metal cans is that they eliminate CO2 emissions and thus reduce the use of parent materials.
Market Dynamics
The market for metal cans is primarily driven by the increasing use of cans in food and beverage packaging, exclusively used in the packaging of aerated and non-aerated beverages. The tremendous growth in personal care products and their widespread use will increase the packaging market. Increased consumer demand for non-carcinogenic packaging materials generates high opportunities for the metal cans industry due to rising health consciousness and light packaging. However, the growing potential of polymer-based packaging materials like polyethylene and polyethylene terephthalate (PET) packaging is expected to increase the market share of metal cans in the overall packaging market during the forecast period.
Key Players
The industry giants in the global metal cans market are Rexam plc (U.K.), Silgan Containers LLC (U.S.), Kian Joo Can Factory Berhad (Malaysia), Independent Can Company (U.S.), Ball Corporation (U.S.), Crown Holdings, Inc. (U.S.), HUBER Packaging Group GmbH (Germany), SKS Bottle & Packaging, Inc. (U.S.), Ardagh Group S.A. (Luxembourg), Berlin Packaging (U.S.), Kaira Can Company Limited (India), The Cary Company (U.S.), Allstate Can Corporation (U.S.), Allied Cans Limited (Canada), and CPMC Holdings Limited (China).
Market Segmentation
The global market for metal cans has been segmented into material, type, and application.
Based on the material, the global metal cans market trends has been segmented into aluminum, steel, and tin. Among these, the aluminum segment is expected to dominate the metal cans market by 2023. The dominant position of this segment can be due to the growing use of aluminum for metal can packaging by companies. Aluminum is lightweight and non-reactive to all kinds of food and beverages.
Based on the type, the global metal cans market has been segmented into two-piece metal cans and three-piece metal cans. The two-piece metal can segment led the market in 2016 and is projected to be the fastest-growing metal can type. The two-piece metal can is easy to manufacture, highly durable, and convenient to transport and stack.
Based on application, the global metal cans market has been segmented into food, beverage, and others. The beverage segment led the market in 2016 and is projected to be the fastest-growing application over the next five years due to their high-end application to pack alcoholic & non-alcoholic drinks and aerated & non-aerated beverages.
Regional Analysis
The global metal cans market has been segregated into four prominent geographical regions: North America, Europe, Asia Pacific, and the Rest of the World.
The European and North American regions presently dominate the global metal packaging market due to the high use of metal cans in the food & beverage industry. However, these regions are projected to be experiencing sluggish growth due to the availability of alternative packaging. The Asia Pacific market is expected to maintain a higher growth rate over the forecast period. Development in this region will be powered primarily by the increasingly growing consumption by end-use industries. The Asia Pacific region is currently experiencing remarkable industrial growth through the establishment of new manufacturing facilities by global OEMs due to the availability of raw materials at relatively cheaper rates than any other region. Developing economies in the Asia Pacific region strongly promote investment through various government initiatives to develop consumer-oriented industries. The rest of the world is set to gain traction over the forecast period due to an increase in the food & beverage industry across major developing economies in the region.
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