Initiatives are being undertaken by several metal can manufacturers to develop eco-friendly cans and improve the rate of recycling. These factors are expected to open new opportunities for the growth of the market in the near future.
Albany, NY -- (SBWIRE) -- 03/07/2016 -- Increasing demand for hairsprays, deodorants, and pharmaceuticals in aerosol cans is raising the demand for metal cans. Additionally, high recovery rate of metal cans for recycling is predicted to emerge as another substantial driver of this market owing to a lot of consumers becoming more aware about environment protection.
The report analyzes and forecasts the market for metal cans on both regional as well as global levels. The prognosis is for the revenue and volumes of the market for metal cans during the forecasting horizon between 2013 and 2019. The market research report comprises the restraints acting on the market along with the drivers of the market, and their effect on the market's growth trajectory in the forecast period.
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For a more clear understanding of the market for metal cans, analysts have provided in-depth analysis of the value chain of the market. Furthermore, an extensive Porter's five forces model provides an enhanced understanding of the competition prevailing in the market. To add on, the study incorporates analysis on the market's attractiveness for investors, wherein the applications have been benchmarked in terms of their growth rate, general attractiveness, and market size.
Overview of the Metal Cans Market
With innovative patterns of products, technological developments, rising application markets, and increased production in the food and beverage industry in evolving markets, there has been a swift development in the market for metal cans. Technological innovation has resulted in the manufacture of easy-open lids, self-heating cans, and sophisticated graphical designs on the cans.
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On the basis of product type, the metal cans market is segmented into food, beverages, and others (including paints and aerosol). In 2012, the demand for metal cans was the highest from the beverage sector among all product segments, which held more than 70% of the market.
In foods, vegetables constituted the biggest product segment, representing more than 40% of the metal cans market for food in 2012. Demand for metal cans for food packaging is predicted to experience the maximum growth in the packaging of fruits, not including juices, due to the rising awareness of the quality of metal cans being able to retain the nutritional value and flavor of the products.
On the basis of geography, the metal cans market is segmented into four regions, namely North America, Europe, Asia Pacific, and Rest of the World (RoW). In the forecast horizon, Asia Pacific is predicted to experience the highest growth in the market for metal cans due to strategic marketing from manufacturers and rise in consumer spending. In 2012, Europe governed the market and represented more than 30% of the global market. India and China are likely to lead the metal cans market in Asia Pacific in the near future.
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Rise in demand for canned beverages and food due to changing lifestyles and rising disposable incomes of customers is among the major factors stimulating the metal cans market. Nonetheless, fluctuations in steel and aluminum prices are predicted to impede the market's growth.
Key players in the Metal Cans Market
The report profiles and elaborates upon the key manufacturers in the metal cans market: Ball Corporation, BWAY, Rexam Plc, Crown Holdings, among others.
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