Between 2022 and 2030, the market for metal containers is anticipated to grow at a CAGR of 5.4%, reaching US$ 198.4 billion.
The metal container market refers to the industry that produces and sells metal containers such as cans, drums, and pails for various applications. The market is driven by the increasing demand for packaged food and beverages, as well as the growing use of metal containers in the chemical, paint, and lubricant industries.
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One of the main segments of the metal container market is the can segment, which includes tinplate cans and aluminum cans. Tinplate cans are widely used for packaging food and beverages, while aluminum cans are used for packaging carbonated beverages. The growing demand for packaged food and beverages is expected to drive the growth of the can segment.
Another segment of the metal container market is the drum segment, which includes steel drums and plastic drums. Steel drums are widely used for the storage and transportation of chemicals, paints, and lubricants, while plastic drums are used for the same purpose but have a lower weight. The growing use of metal containers in the chemical, paint, and lubricant industries is expected to drive the growth of the drum segment.
The pail segment is also a significant segment of the metal container market. Pails are widely used for the storage and transportation of food and beverages, as well as chemicals, paints, and lubricants. The growing use of metal containers in the food and beverage, chemical, paint, and lubricant industries is expected to drive the growth of the pail segment.
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The Asia-Pacific region is expected to be the largest market for metal containers during the forecast period, owing to the increasing demand for packaged food and beverages and the growing use of metal containers in the chemical, paint, and lubricant industries in the region.
The metal container market is a highly competitive market with many players. Some of the key players in the market include Crown Holdings, Inc., Ball Corporation, Can-Pack S.A., Nampak Ltd., and Sonoco Products Company. These players are focusing on expanding their product portfolio and increasing their market share through strategic partnerships and collaborations.
Overall, the metal container market is expected to grow at a steady pace during the forecast period, driven by the increasing demand for packaged food and beverages and the growing use of metal containers in the chemical, paint, and lubricant industries.
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