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 USD 25 Billion in 2021 and reach a valuation of USD 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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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.
Who are the Key Players in the Global Bi-metal Cans Market?
Some 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.
Market Segmentations
- Material Type
- Product Type
- Capacity
- Filling Method
- End Use Industry
- Region
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