"Overview of Paint Cans Market"
The Demand For Paint Cans Market Was Estimated At USD 21.2 Bn In 2019. It Is Projected To Witness A CAGR Of 4.3% During The Forecast Period (2019-2027).
Globally, Paint cans are the most dominant form of paint packaging. Over the years, paint cans have been available in a variety of configurations where metal has been the most widely used material.
The paint cans market has been witnessing a soaring demand from the exterior paint applications. Exterior paints are being widely used to protect the exterior surfaces of buildings from harsh weather conditions. These paints are also gaining traction as these act as waterproofing agents. Furthermore, the availability of a wide range of exterior paints has driven the demand for these varieties of packaging to protect the paint. Such factors have necessitated the large-scale application of packaging products across the globe.
Plastic paint cans are expected to witness growth owing to a significant shift in consumer’s preference towards plastic paint cans.
Plastic paint cans are lighter than their metal counterparts. Furthermore, plastic paint cans were quickly accepted because they are easy to decorate and could be used as an efficient brand advertisement tool. Also, plastic paint cans ensure more consumer convenience than other alternatives available in the market.
Metal Had Accounted For A Significant Share Of ~45% In 2018 And Is Expected To Remain Dominant During The Forecast Period.
In the paint cans market, Metal is widely used as material across the globe, that accounted for 45.8% of the global paint can market. The segment is expected to progress at a CAGR of 3.5% over the forecast period (2019-2027). Increased demand for paint cans has significantly contributed to the growth of the segment. However, the material segment is expected to grow at the fastest rate owing to the increasing demand for enhanced clarity in packaging products.
Steel, Aluminium, and tin are the most commonly used metals in the manufacturing process of packaging products. Metals are preferred over other plastic materials in various industries. Metal Cans offer toughness and extended shelf life of metals when compared to other alternatives available in the market. These benefits offered by metal cans make these a preferred choice for many paint can manufacturers.
By Capacity Type, 1000 Ml and Below Is Expected To Grow At Significant Rate during Forecast Period
By Capacity type, 1000 ml and below is expected to witness high CAGR owing it is small size and consumer convenience. Many end users in various industries are inclined towards this size as this is easy to carry and transport. High preference of lightweight packaging among end users is also expected to boost the growth of 1000 ml and below (capacity size).
These benefits offered by 1000 ml and below as compared to other capacity sizes is one of the driving factors behind the growth of 1000 ml and below segment.
Asia Pacific Is Likely To Dominate the Global Paint Cans Market During the Forecast Period
Capturing over the one-third share of the total consumption, the paint cans market in East Asia region will continue to attract significant capital investment from manufacturers. With Asia leading the regional market, growth will be shaped by the rising popularity of the convenience foods, as well as the booming chemical industry. In paint cans market, There are major reasons behind the higher trajectory like significant urbanization, shift to nuclear families and steady growth of construction-related activity. Among the countries in the region, China and India will register notable growth, owing to strong economic growth Besides, the expansion of the construction industry into Asia pacific region would also create opportunities for the paint cans market. Therefore, it is only a logical consequence that manufacturers are eyeing the region to the right size supply.
Key players operating in the global paint cans market include Ardagh Group, S.A., 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., Aaron Packaging, Inc., Allstate Can Corporation, Allied Cans Limited, Lancaster Containers, Inc., Baltic Packaging A/S, Envases Universales Group, P. Wilkinson Containers Ltd., Sarten Ambalaj Sanayi Ve Ticaret A.S., and KW Plastic Inc.
Paint cans Market Segmentation:
Global paint cans Market by Application
Global paint cans Market by Material Type
Global Paint Cans Market by Capacity
- 1000 ml and below
- 1001 – 2000 ml
- 2001 – 3000 ml
- 3001 – 4000 ml
- 4001 ml and above
Global Paint Cans Market by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa