Throughout the projected period, a CAGR of 5.6% is expected to be achieved by the global bi-metal cans market. The market value is anticipated to increase from US$ 25 billion in 2021 to 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.
Bi-metal cans are a type of packaging made of two layers of different metals, typically steel and aluminum. These cans are widely used in the food and beverage industry, particularly for packaging canned food products and beverages.
The bi-metal cans market is expected to witness strong growth in the coming years, driven by the growing demand for packaged food and beverages, as well as the increasing focus on sustainability and environmental conservation.
In bi-metal cans, the tin coating helps prevent corrosion of the metal due to food contact and, on the other hand, even protects the food from metal contamination. Its environmental friendliness is one of its major benefits that has contributed to the bi-metal market’s growing sales.
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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.
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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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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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