Pune India, Jan. 02, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Paint Cans market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Paint Cans market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the Material, capacity, end-user and Regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Paint Cans market are Ball Corporation, RPC Group Plc, Silgan Containers LLC, Kian Joo Can Factory Berhad, Colep Portugal, S.A, BWAY Corporation, National Can Industries Pty. Ltd, Allied Cans Limited, Aaron Packaging Inc, Allstate Can Corporation, Lancaster Container, Inc, Baltic Packaging A/S, Envases Universales Group among others. To achieve a substantial market, share in the worldwide Paint Cans market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Consumers' growing preference for decorative wall will accelerate the market for paint cans' rate of growth. The expansion of the worldwide market is also being driven by an increase in paint operations in a variety of industries, including automotive, marine, coil, wood, aerospace, rail, and package coatings. Furthermore, increased urbanisation, and increasing level of disposable income will fuel 'market's expansion. Additionally, the market for paint cans will have slower development because to growing knowledge of the harm caused by plastic goods and the numerous advantages offered by metal cans. The rigorous government laws governing the usage of plastic paint cans are a crucial factor affecting the market's growth pace. Leading players in the paint industry are investing an increasing amount in new product launches, which will spur new market opportunities and accelerate market growth. Additionally, an increase in strategic alliances and the emergence of new markets will act as market drivers and increase favourable prospects for the market's growth rate. Because of people's growing propensity for customization and maintenance work, the need for spray paints has increased in the automobile sector. The market for paint cans may not expand as anticipated as a result of this. Market stagnation for plastic cans is predicted to result from the implementation of strict rules and regulations prohibiting the use of plastic. Additionally, there are plastic bottles and pails, as well as various alternatives to paint cans, on the market for packaging paint. Due to their excellent recyclability and durability, FMI study predicts that metal cans will remain popular for the next 10–12 years despite the aforementioned problems.
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Scope of Paint Cans Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Material, Capacity, End-User |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Ball Corporation, RPC Group Plc, Silgan Containers LLC, Kian Joo Can Factory Berhad, Colep Portugal, S.A, BWAY Corporation, National Can Industries Pty. Ltd, Allied Cans Limited, Aaron Packaging Inc, Allstate Can Corporation, Lancaster Container, Inc, Baltic Packaging A/S, and Envases Universales Group among others. |
Segmentation Analysis
The Metal segment is expected to be the fastest-growing segment in 2022.
The Material segment includes Plastic and Metal. The metal segment is expected to witness the highest growth rate during the forecast period. The majority of paint cans sold are made of metal. Metal cans dominate the market for paint cans because of their many benefits, including recyclability. This can be related to the increased awareness of the harmful effects of plastic goods as well as to the qualities given by metal cans. Manufacturers of metal paint cans can expect attractive development possibilities as a result of increased environmental awareness and the adoption of severe legislation. Metal paint cans, particularly those made of steel or steel that has had tin added, are built to be durable. In some of the most difficult circumstances, they have been known to hold up.
The 1001-2000 ml segment is expected to be the fastest-growing segment in 2022.
The capacity segment includes 1001-2000 ml, 3001-4000ml, 1000ml and below, 2002-3000ml, and 4001 ml and above. The 1001-2000 ml segment is expected to witness the highest growth rate during the forecast period. The 1001-2000 ml amount is frequently utilised since paint cans are overused in consumer items. This is the most available capacity.
The consumer segment is expected to be the fastest-growing segment in 2022.
The end-user segment includes consumer and professional. The consumer segment is expected to witness the highest growth rate during the forecast period. The segment is expected to be driven by a rise in interior design and décor demand globally over the course of the forecast period. The business has recently been propelled by the rise in demand for durable containers that can hold a sizable amount of paint (professional). Worldwide, large packing containers like pails, cans, and bag-in-boxes have been very common. Instead of consumer packaging goods and aesthetically pleasing containers, professional packaging items are preferred for their attributes like impact and chemical resistance. These commodities are provided in a standard way to facilitate shipping. Travelling is safer and takes up less space because of their straightforward stackable design.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Paint Cans include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia pacific region witnessed a major share. Major participants in the rigid packaging industry include China, India, Vietnam, Australia, and Indonesia, all of which are developing nations in the Asia-Pacific region. In numerous Asia-Pacific countries, Paint Cans consumption has remained positive and continuously robust due to increased consumer disposable income, accelerating urbanisation, and rising consumption of cosmetics, food, drinks, and dry goods.
Country Analysis
- Germany
Germany’s Paint Cans market size was valued at USD 0.28 billion in 2022 and is expected to reach USD 0.85 billion by 2030, at a CAGR of 3.5% from 2023 to 2030.
Metal finishing companies that use a variety of electroplating techniques have had trouble adhering to rules. Architectural paints produced and utilised in Germany are almost exclusively medium to premium commodities because to the significant consumer interest in home decor.
- China
China’s Paint Cans market size was valued at USD 0.32 billion in 2022 and is expected to reach USD 1.12 billion by 2030, at a CAGR of 3.7% from 2023 to 2030.
In the Asia Pacific paint cans market, China is the main source of income. Urbanization, infrastructure development, and the rise of nuclear families are all factors that are promoting the construction sector, which in turn is promoting the growth of the paint cans market in this area.
- India
India's Paint Cans market size was valued at USD 0.35 billion in 2022 and is expected to reach USD 1.40 billion by 2030, at a CAGR of 3.9% from 2023 to 2030.
The need for the market examined is being driven by rising demand from the building sector and a reviving automobile sector.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven by increased consumption of consumer goods.
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