The Metal Packaging Market is Estimated to be Valued at USD 152.9 Billion
Posted by SatrMartin on February 18th, 2018
Metal packaging is used in both commercial and industrial product packaging. Further, aluminum and steel metals are used as a material in metal packaging process due to their light weight properties. Metal packaging available in many shapes, colors and cans to meet modern life styles. Additionally, metal packaging can be recycled again and again for future uses without losing its quality.
Global metal packaging market is expected to thrive at 4.8% CAGR over the forecast period. Moreover, the global metal packaging market reached at USD 121.2 Million in 2016 and is expected to reach at revenue of USD 152.9 Billion by the end of 2024. Rising demand for reusable materials is a major trend in packaging industry and recyclability of metals such as aluminium and steel is likely to increase the adoption of metal packaging in end use industries.
Further, global metal packaging market is segmented into packaging type, material, application and region. Further, packaging type segmented into cans, jars, containers, barrels, foils, caps & closures, drums and others. Likely, containers segment is expected to witness high demand from food and beverage industries during the forecast period.
Growing End Use Industries
The disposable income of the population is rising steadily across the globe. Further, rising disposable income of the consumers is a major factor which is increasing the consumption of end use products. End use industries are continuously adopting effective and innovative packaging solutions to fulfill consumer’s modern requirements. Growing shipping industry and increasing adoption of metal packaging due to high resistance of metal packaging to physical shocks and low weight property are also key factors which are intensifying the growth of global metal packaging market.
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Rising Environmental Concerns
Recyclability of metal packaging makes the more environmental friendly. Adoption of metal packaging in end use industries has resulted in additional benefits such as reduced waste and higher cost benefits due to their reusability.
However, disadvantages of metal packaging such as corrosion and storage issues are major challenges in global metal packaging market. In addition to this, availability of alternate packaging solutions is likely to inhibit the growth of the metal packaging market in the near future.
The report titled “Metal Packaging Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global metal packaging market in terms of market segmentation by packaging type, by end-use industry, by material and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global metal packaging market which includes company profiling of Amcor Ltd., Anheuser Busch Companies Inc., Metal Container Corp., Ardagh Group, BALL Corp., Bway Corp., Crown Holdings Inc., Greif Inc., Silgan Holdings, and Metal Packaging Europe. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global metal packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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