VALLEY COTTAGE, New York,
July 22, 2019 /PRNewswire/ -- The
global paint cans market was valued at US$ 4.2 Bn in 2018, and is projected to register
modest growth during the next ten years. As indicated by a new
report presented by Future Market Insights (FMI), sustained demand
for paint cans within construction and wall décor segments will
continue to push paint can sales at a steady pace over the years to
come.
High Recyclability Quotient Sustains Metal Paint Can
Sales
Paint cans are widely used to store paint. In fact, they are the
most dominant form of packaging solution used for paint. Metal
paint cans are generally preferred due to their high recyclability.
However, there are certain factors associated with convenience,
which could hamper the growth in the adoption of metal paint cans.
These include problems such as rusting of paint cans, which can
damage the paint inside.
Moreover, most metal paint cans are tightly sealed, and spill
paint when opened with force. The paint spilling out of paint cans
can stick to the surface. On the other hand, plastic paint cans can
be easily decorated and have better compatibility with printing,
which is taken advantage of, by paint can manufacturers.
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Figures
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Paint Cans Continue to Witness Steady Traction, Construction
& Wall Décor Key Revenue Generation Areas
Since a significant chunk of the demand for paint cans is
generated by the construction sector, there is a demand for
packaging solutions with high capacity. This is fulfilled by
plastic containers and pails which have a capacity of well over
5000 ml. Several 5 gal containers of latex-paint sold in the market
come in plastic containers. Plastic pails and bulk containers lead
to reduced weight of the packaging, ensuring user convenience. The
high demand for rigid plastic pails in the construction sector
could, to some extent, hamper the growth of the global paint cans
market.
The building and construction sector is expected to witness
solid growth in the coming years, especially in high growth
countries such as Brazil,
India, and China. Also, the increasing number of new
construction projects, as well as a number of households, is
expected to boost the growth of the wall paint market, which, in
turn, is anticipated to represent lucrative opportunities for the
global paint cans market during the forecast period.
Preview Analysis of Paint Cans Market is segmented by
(Product type - metal cans, plastic cans, and hybrid cans; Material
type - plastic (HDPE & PP) and metal (Tin & Steel);
Capacity - 1000 ml and below, 1001 – 2000 ml, 2001 – 3000 ml, 3001
– 4000 ml, and 4001 ml and above;) - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2018 -
2028: https://www.futuremarketinsights.com/reports/paint-cans-market
Paint Consumption Sees an Upsurge in Developing Asian
Economies, Pushing Sales of Paint Cans
The South & East Asia paint
cans market is expected to represent significant revenue growth
opportunity during the forecast period. The high rate of
urbanization, rise in the number of single person households, and
robust growth of the building & construction industry is
expected to generate significant demand for paint cans during the
forecast period. Therefore, the manufacturers of paint cans are
eyeing the South & East Asia
region to pursue rightsizing of their supply chains to accommodate
high growth countries in the region.
China is expected to generate
the maximum incremental $ opportunity for the paint cans market by
the end of the forecast period. Strong economic growth of
India is the key driver for the
local paint industry. India's
paint consumption has been registering double-digit figures for the
past few years, making it highly attractive in terms of growth rate
of the paint cans market.
The continuous expansion of the building & construction
industry in countries such as Indonesia, Thailand, South
Korea, and Japan, is likely
to represent an enormous growth opportunity for the paint cans
market during the forecast period. Overall, South &
East Asia regions are projected to
witness a notable growth rate of the paint cans market throughout
the forecast period.
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Competition Landscape: Global Paint Cans Market
The FMI report includes a detailed competition landscape, which
includes profiles and assessment of paint can manufacturers
operating in the global paint cans market. Key manufacturers of
paint cans profiled 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., Allied Cans Limited,
Aaron Packaging, Inc., Allstate Can Corporation, 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.
For additional exclusive insights on the performance of
global paint cans market during 2018-2028, write to the analyst
at press@futuremarketinsights.com
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