DUBAI, United Arab Emirates, Dec. 21, 2022 (GLOBE NEWSWIRE) -- The global oily waste can market is anticipated to reach a valuation of US$ 8.8 Bn by 2032, with sales growing at a sluggish CAGR of 3.5% from 2022 to 2032. As opposed to a value of US$ 5.8 Bn in 2021, the target market is set to reach an estimated US$ 6 Bn in 2022. The market for oily waste cans is influenced by factors like high demand in a wide range of end-use industries such as repair shops, marinas, warehousing facilities, machine shops, building sites, printing operations, manufacturing plants, and furniture refinishers.
Containers that are utilized to store and manage potentially combustible oily materials are categorized as oily waste cans. These waste cans are usually circular in shape, with a raised base and a self-closing lid. Since appropriate segregation and disposal of oily waste is an essential part of workplace protection consensus in a heavy-duty workplace setting, demand for oily waste cans by all enterprises is expected to rise over the next few years.
The upsurge in the adoption of oily waste can in diverse end-user industries is primarily due to the desire to secure workplace safety by offering a proper method of organizing risky rubbish stock in limited work areas. This is expected to propel the target market growth during 2022-2032. Again, considerations like the superior qualities of oily waste cans including the robust frame, the minimized hole of the lid, and pleasant convenience will spur the demand for the market.
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Further, the government's different laws and regulations handling heavy-duty workplace protection, and an upsurge in the knowledge about oily waste cans across diverse industries are anticipated to fuel the market growth. All of these factors aid the growth of the oily waste cans market during the forecast period.
“The rising need to secure workplace safety is promoting the adoption of oily waste cans across various industries. This aspect will likely supplement the global growth of the oily waste can market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Fluctuations in raw material prices as well as the presence of a high number of specialists in the oily waste can exchange field may stymie the target market growth.
- Immense shareholdings in the oil and fuel industry will propel the oily waste can market forward in North America.
- The global oily waste can market is dominated by Europe and the region will retain this growth during the forecast period.
- A strong emphasis on workplace safety will promote the growth of the oily waste can market in Europe during 2022-2032.
Competitive Landscape
In a highly competitive environment, key market participants are concentrating on adopting various business strategies to strengthen their market position. These enterprises are keen on building long-term relationships with raw material suppliers and endeavoring to improve their commodity standards so as to gain a competitive edge.
Eagle Manufacturing Company, Justrite Mfg. Co., L.L.C, Shanghai SYSBEL Industry & Technology Co., Ltd., and TENAQUIP Limited, among others, are some of the major players in the oily waste can market profiled in the full version of the report.
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Key Segments Profiled in the Oily Waste Can Industry Survey
Material Type:
- Steel Oily Waste Cans
- Plastic Oily Waste Cans
Can Lid Type:
- Foot Operated Self Closing Oily Waste Cans
- Hand Operated Self Closing Oily Waste Cans
Capacity:
- Oily Waste Cans Upto 10 Gallons
- Oily Waste Cans from 11 to 15 Gallons
- Oily Waste Cans from 16 to 20 Gallons
- Oily Waste Cans Above 20 Gallons
End-Users:
- Oily Waste Cans for Auto Repair Shops
- Oily Waste Cans for Warehouse
- Oily Waste Cans for Construction Sites
- Oily Waste Cans for Marinas
- Oily Waste Cans for Machine Shops
- Oily Waste Cans for Printing Operations
- Oily Waste Cans for Furniture Refinishers
- Oily Waste Cans for Manufacturing Plants
Region:
- North America
- Latin America
- Europe
- Middle East & Africa
- South Asia
- East Asia
- Oceania
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Impact of Covid-19
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