Metal cans are made up of aluminium or steel. Aluminium is mostly used in the manufacture of such cans. Steel is stronger, economical to produce and simpler to heat. On the other hand, cans made up of aluminium are moveable from one place to another at reasonable price. Such cans enable the storage and delivery of goods, like chemicals, foods and beverages.
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The worldwide metal cans market was anticipated at about USD 44 billion in 2012. It is predicted to achieve a size of almost USD 52 billion by 2019. The market is likely to witness about 2 percent CAGR during the projected phase. Growing investments in emergent nations of Asia Pacific and increased demand for beverages across the globe drive the demand for the metal cans market.
The existence of cardboard and glass as replacements to metal cans and ecological concerns owing to inappropriate policies of recycling act as hindrances to the further development of the market. The metal cans market has been expanding constantly to bring about product innovations. The introduction of aluminium and steel saw the metal cans market generating more revenue.
Metal cans have certain benefits. Their less space occupying and simple to store properties also help drive the market. The market is driven further by growing demand for canned food and beverages and the ecological advantages of metal cans. Fluctuations in the costs of raw materials hinder market growth.
Adoption of environment friendly commodities and procedures are predicted to provide prospects for the further development of the metal cans market. The worldwide market is analyzed under two categories. These are geographical regions and products. On the basis of regions, the market is segmented into Europe, North America, Asia Pacific and rest of the world.
Europe and North America dominate the worldwide market. Products wise, the metal cans market is divided into beverages, food and others. Beverages dominate the product sector of this market.
Information Source: Grand View Research