The global bi-metal cans market is anticipated to record a CAGR of 5.6% during the forecast period. It is expected the market value will go up from US$ 25 Billion in 2021 and reach a valuation of 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 refers to the manufacturing, distribution, and sales of cans made of two layers of different metals. The most common metals used for bi-metal cans are aluminum and steel. The aluminum layer is typically on the inside, while the steel layer is on the outside. This combination of metals creates a can that is strong, lightweight, and corrosion-resistant.
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.
Bi-metal Cans Market Trends and Drivers-
The bi-metal cans market is witnessing several trends and drivers that are shaping its growth and outlook. Here are some of the most significant ones:
- Sustainability and Eco-Friendliness- One of the most prominent trends in the packaging industry is the shift towards sustainable and eco-friendly solutions. Bi-metal cans are an excellent example of this trend, as they are recyclable and reduce the carbon footprint compared to other packaging materials.
- Increasing Demand for Canned Beverages- The beverage industry is one of the primary users of bi-metal cans, and it is growing rapidly. The demand for canned beverages is driven by various factors, such as convenience, affordability, and portability.
- Technological Advancements in Can Manufacturing- The manufacturing process of bi-metal cans has evolved significantly over the years, thanks to advancements in technology. The latest can manufacturing technologies allow for better quality control, increased efficiency, and reduced costs.
- Stringent Government Regulations- Governments around the world are increasingly focusing on reducing the environmental impact of packaging materials. Regulations promoting eco-friendly packaging, such as the EU’s Single-Use Plastics Directive, are driving the demand for sustainable packaging solutions like bi-metal cans.
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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.
Which is the Leading Region in the Global Bi-metal Cans Market?
The sales of bi-metal cans are expected to grow in some key regions like Europe and East Asia over the forecast years. In East Asia, the demand for bi-metal cans in China is expected to grow at a high CAGR during the forecast period. Increasing emphasis on sustainable consumption of natural resources is provided the necessary impetus in demand for bi-metal cans in Asia Pacific countries.
Europe contributes the largest revenue share in the global bi-metal cans market. In Europe, France and Belgium are expected to dominate the market in terms of demand for bi-metal cans and growth rate during the forecast period.
North America is expected to grow at a moderate pace in the forecast period. Such a slow growth rate in North America for bi-metal cans market share is attributed to the fact that the regional markets in USA and Canada are almost saturated. However, the large volume of consumer goods is expected to retain the sales of bi-metal cans market profitable during the forecast years.
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