According to a study by Future Market Insights, during the projected period, the global market for hybrid paint cans is anticipated to reach US$ 1.2 billion in 2023 and continue to grow at a CAGR of 4.1% to reach US$ 1.8 billion by the year 2033. With the top 3 nations predicted to control between 25 and 30 percent of the market in 2023, it is estimated that sales of hybrid paint cans would increase.
The rings and plugs on the plastic hybrid paint cans are coated with recycled polypropylene, which has also been blended with metals like tin. Black hybrid paint cans are the finest alternative to metal paint cans.
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FMI, in its upcoming business report, elaborates the historical and current scenario of the global Hybrid paint cans market in terms of production, consumption, volume, and value. The report scrutinizes the market into various segments, regions and players on the basis of demand pattern and growth prospects.
Some of the key players in the Hybrid paint cans market are Berlin Packaging, BWAY Corporation, Silgan Holdings, Industrias Sanz SA, and KW Plastics, Inc.
COVID-19 Impact Analysis on Hybrid paint cans Market
The recent outbreak of the COVID-19 has adversely affected various markets in the packaging industry, and the Hybrid paint cans market is no exception. Products which are deemed ‘essential’ continue to experience significant sales, while non-essential items faced a sharp decline in demand.
Demand for hybrid paint cans is expected to witness a healthy CAGR rate during the forecast period due to its cost-effectiveness and better characteristics than other metal-based alternatives. Hybrid paint cans market is also expected to grow with the increase in demand for the environment-friendly packaging products in the paint and coatings industry. It has witnessed strong growth in the last five years and is expected to continue its wave for the next 5-10 years. The recent trend noticed in the market is the introduction of the hybrid paint cans made up of 70-80% recycled plastic resin which will compel paint companies to adopt this sustainable packaging solution over metal-based paint cans.
Hybrid Paint Cans Market: Market Segmentation:
Hybrid Paint Cans Market Segmentation: By Material Type
- Polypropylene – Metal Cans
- HDPE –Metal Cans
- Other Hybrid Cans
Hybrid Paint Cans Market Segmentation: By Product Capacity
- Up to 500 ml
- 500 ml to 2000 ml
- 2000 ml to 5000 ml
- More than 5000 ml
Hybrid Paint Cans Market Segmentation: By Packaging Application
- Paints
- Colorants
- Coatings
The Hybrid paint cans market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
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Hybrid paint cans Market: Competition Analysis
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Hybrid paint cans market. Competitive information detailed in the Hybrid paint cans market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Hybrid paint cans market report.
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