Metal Pails Market to Reach US$ 9.2 Bn by End of 2030, Transparency Market Research Inc

WILMINGTON, DE / ACCESSWIRE / February 16, 2023 / Transparency Market Research Inc. - The global metal pails market is projected to grow at a CAGR of 4.3% from 2022 to 2030. Metal pails are used by various end-use industries such as food & beverage, and chemicals, to transport and store liquid and semi-liquid products because they ensure contamination-free storage and transportation.

The US Food and Drug Administration approved metal pails coated with tin for food and beverage packaging. This helps promote the usage of metal pails to store food and beverage items, and is therefore anticipated to propel the growth of the market during the forecast period.

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Increase in awareness about environmental degradation associated with the use of plastics and other non-ecofriendly materials has compelled companies to adopt eco-friendly solutions for storage and transport of bulk goods and commodities. The rise in inclination toward biodegradable materials and the increase in demand for recyclable materials for storage purposes have fueled the demand for metal pails. Additionally, the durable and reusable properties of metal pails and their ability to keep the product stored in them in an intact manner is further projected to help create new business opportunities for the global metal pails market during the forecast period.

According to the TMR report, the global metal pails market was valued at US$ 6.3 Bn in 2021 and is likely to reach US$ 9.2 Bn by 2030. The contents of the product or commodity stored in metal pails remain uncontaminated and this property is expected to drive the global market during the forecast period.

Key Findings of Study

• Extensive Applications in Food and Beverage Industry Spurring Market: Apart from being an excellent pouring container, metal pails are safe mediums for transporting liquid-based and semi-solid products in the food processing sector. This feature is anticipated to help the market gain significant traction during the forecast period.
• Rise in Demand for Sustainable Packaging Solutions to Promote Market Growth: Metal pails can be recycled and reused numerous times, thus denoting the possibility of cutting down repurchase costs. This implies that metal pails are sustainable solutions for packaging and leads to high demand from the packaging industry. The increase in demand for sustainable packaging solutions is expected to help boost the metal pails market development during the forecast period.

Key Drivers

• Increase in demand for rigid packaging from the chemical and pharmaceutical sectors is likely to serve as a key growth driver, augmenting the metal pails market size
• Rise in demand for spill-proof and safe packaging solutions for transportation of bulk goods from multiple end-use or manufacturing industries is projected to bode well for the overall growth of the metal pails market

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Regional Growth Dynamics

• Asia Pacific held major market share in 2021, attributed to the growing demand for rigid industrial containers and the rapid growth rate of the chemicals industry.
• Availability of cheap labor and affordable raw materials in emerging economies are projected to help Asia Pacific continue to dominate the global metal pails market during the forecast period.

Key Players

The global metal pails market is fragmented due to the presence of multiple vendors. Efforts to improve product portfolio and expand geographical presence are the key growth strategies of players.

Leading players in the global metal pails market are GREAT WESTERN CONTAINERS INC., Yixing Feihong Steel Packaging Co.,Ltd., Cleveland Steel Container, Lancaster Container Inc., Industrial Packaging, TANKS INTERNATIONAL SRL, CL Smith LLC, Japan Pail Corporation, Jiangyin YiDing Packaging Materials Co.,Ltd., MANUPAK, Aaron Packaging, ASA Group, Behrens Manufacturing, LLC, P. Wilkinson Containers Ltd., Mauser Packaging Solutions, and others.

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Metal Pails Market Segmentation

Product Type

• Open Top/Head
• Closed Top/Head

Capacity

• Less than 1 Gal
• 1-3 Gal
• 4-6 Gal
• 7-10 Gal
• Above 10 Gal

End-user

• Chemicals
• Agriculture
• Food & Beverage
• Building & Construction
• Automotive
• Others (Mining, etc.)

Regions Covered

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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