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.
Sales of bi-metal cans are expected to witness growth due to their advantageous qualities, which include – recyclability, standardization, and durability. Bi-metal cans have a lighter environmental footprint in comparison to other packaging materials like plastics, which will increase the demand for bi-metal cans.
Government regulations regarding plastic usage might also play an essential role in boosting the sales of bi-metal cans in the upcoming years. Recycling is an easy way to save energy and raw materials by efficiently reducing CO2 emissions and the amount of waste generated during production and raw material collection.
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In North America, the growth of the bi-metal cans market is expected to be moderate. This gradual pace is due to market saturation in countries like the USA and Canada. Nevertheless, the substantial volume of consumer goods in the region ensures that the sales of bi-metal cans remain profitable throughout the forecast years. Despite the saturation of certain submarkets, the versatility and durability of bi-metal cans continue to support their relevance in North America’s packaging landscape.
In summary, the bi-metal cans market exhibits varying growth rates across regions, with Europe leading the way, East Asia showing strong potential, and North America maintaining its profitability through diverse consumer goods applications.
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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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.
Trending Opportunities for the Global Bi-metal Cans Market in the Coming Years
- Sustainability Emphasis: The increasing global focus on sustainability and eco-friendliness is creating a significant opportunity for bi-metal cans. Their recyclability and reduced environmental impact make them a favored choice in a world increasingly conscious of its carbon footprint.
- Food and Beverage Industry: The food and beverage industry’s continuous expansion and innovation in packaging solutions provide ongoing opportunities for bi-metal cans. The versatility of bi-metal cans in preserving food and beverages, while offering branding opportunities, positions them for growth in this sector.
- Health and Wellness Trends: As health and wellness trends continue to influence consumer choices, bi-metal cans provide a safe and protective packaging option for items like canned fruits, vegetables, and health drinks, aligning with health-conscious consumer preferences.
- Emerging Markets: Developing regions with increasing urbanization and disposable income are potential growth markets for bi-metal cans. These areas present opportunities for expansion, particularly in East Asia, where the demand for sustainable packaging is on the rise.
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.
Market Trends and Analysis
The bi-metal cans market has witnessed significant growth due to changing consumer preferences, advancements in technology, and increasing awareness of sustainable packaging solutions. Let’s explore some of the key market trends shaping the industry:
- Growing Demand for Canned Beverages- The increasing consumption of canned beverages, such as carbonated soft drinks, energy drinks, and ready-to-drink teas, has been a major driver for the bi-metal cans market. Consumers appreciate the convenience and portability of these cans, along with the assurance of product safety and freshness.
- Shift towards Sustainable Packaging- With growing environmental concerns, both consumers and manufacturers are gravitating towards sustainable packaging solutions. Bi-metal cans, being recyclable and energy-efficient, align perfectly with these sustainability goals, driving their demand in various industries.
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