DUBAI, UAE /PRNewswire/ -- As per a research analysis conducted by FMI, the global paint cans market is anticipated to exhibit growth at a CAGR of 4.1% during the forecast period 2021-2031. Backed by the rising demand for paints across various industries such as construction, furniture, marine and others, the sales of paint cans is projected to total 10,086 million units, surpassing a valuation of 4.7 billion by 2021.
The market is largely driven by increasing constructions activities and infrastructural spending along with the surging consumption of exterior paints. The rising demand for wall decor to enhance the aesthetic beauty of homes is further propelling the demand for paints. Driven by this, the sales of pain cans are estimated to increase at year-on-year (YoY) growth of 4% in 2021.
Paints also are gaining traction as protective coatings against sun and water for metal fixtures, walls, and wooden structures. Also, the increasing demand for spray paints in the automotive industry for maintenance and customization purposes is expected to creating attractive sales opportunities.
Over the past decade, packaging has evolved from just adding aesthetic values to a product to a method of value creation, offering convenience of transportation and storage and ease of use. As paint cans fit all features of these executions, they have emerged as sought-after packing solutions for paints. The demand for metal cans will remain exceptionally high due to their rigid structure, recyclability, and impact resistant features.
"With growing environmental concerns along with implementation of stringent regulations, leading manufactures are aiming at developing eco-friendly paint cans, using sustainable material. This will bode well for the market," says the FMI analyst.
Key Takeaways from Paint Cans Market Study
- The U.S. is estimated to contribute maximum sales in the North America, driving the regional market at a CAGR of 2.7% during the assessment period.
- Germany is forecast to lead the paint can market in Europe, owing to increasing demand from automotive industry.
- Japan is expected to account for 23% of revenue share in the East Asia market, on the back of increasing number of single-person households in the country.
- Favored by rapid growth of the building and construction industry, the market in China is anticipated project a robust growth between 2021 and 2031.
- Based on material type, metal is anticipated to dominate the segment due to its recyclable and reusable features.
Key Drivers
- Suring demand for paints across industries such as automotive and construction sectors is bolstering the sales of paint cans.
- Increasing sales of paints from e-commerce portals is propelling the demand for transportation-friendly packaging solution such as metal cans.
Key Restraints
- Implementation of strict regulations against the use of plastic is hampering the growth of plastic paint cans segment.
- Availability of lower cost substitutes such as refillable spray bottles is hindering the sales of paint cans.
Competitive Landscape
As per the FMI, the top five players in the global paint cans market is expected to hold a combine share of 15% to 20% in 2021. The intensity of competition is estimated to be high due to presence of few significant players in the landscape.
Leading manufacturer are emphasizing of adopting various organic and inorganic expansion strategies such as new product launch, collaboration, merger, acquisition, and product approvals to expand their market share. For instance,
- In October 2018 Brittpac, a can manufacturing company based in U.K. announced launching a comprehensive range of PET paint cans using rPET. These cans are available in two options with handle and without handle.
- In April 2021, Mauser Packaging Solutions, a leading company in solutions and services across the packaging, announced acquiring a company based in Italy, Global Tank Srl. The acquisition will assist the company to widen its offering of industrial packaging products and services in the Italy.
Some of the key players in the paint cans market profiled by FMI are:
- Ball Corporation
- RPC Group Plc.
- Silgan Containers LLC
- Kian Joo Can Factory Berhad
- Colep Portugal, S.A.
- BWAY Corporation (MAUSER Packaging Solutions)
- National Can Industries Pty. Ltd.
- Allied Cans Limited
- Aaron Packaging, Inc.
- Allstate Can Corporation
- Lancaster Container, Inc.
- Baltic Packaging A/S
- Envases Universales Group
- P. Wilkinson Containers Ltd.
- Sarten Ambalaj Sanayi Ve Ticaret A.S.
- KW Plastic Inc.
More Insights on the Paint Cans Market Survey
The latest study on the paint cans market by Future Market Insights gives a detailed outlook on key segments for the forecast period of 2021-2031. In order to gain a better perspective of the global paint cans market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
By Product Type:
- Metal Cans
- Plastic Cans
- Hybrid Cans
By Material Type:
- Plastic
- High Density Polyethylene (HDPE)
- Polypropylene (PP)
- Metal
- Tin
- Steel
By Capacity:
- 1000 ml and below
- 1001 – 2000 ml
- 2001 – 3000 ml
- 3001 – 4000 ml
- 4001 ml and above
By Regional Analysis:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- Italy
- France
- U.K.
- Spain
- Benelux
- Russia
- Rest of Europe
- South & East Asia
- India
- Thailand
- Indonesia
- Malaysia
- China
- Japan
- South Korea
- Rest of South & East Asia
- Oceania
- Australia
- New Zealand
- Middle East and Africa (MEA)
- GCC Countries
- Turkey
- Israel
- Northern Africa
- South Africa
- Rest of MEA
- Emerging Countries
- China
- India
Key Questions Covered in Paint Cans Market Report
- The report offers detailed insights into paint cans market demand outlook for 2021-2031
- The market study also highlights projected sales growth for paint cans market between 2021 and 2031
- Paint cans market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Paint cans market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
-Ends-
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Abhishek Budholiya
Future Market Insights,
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United Arab Emirates
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SOURCE Future Market Insights
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