Cans are an efficient packaging solution for the storage of different type of goods in various industries. Paint cans are used to store paint, colorants, and other water-based substances.
It is generally made up of different materials including metal and plastic. Recent technological advancement noticed in the paint cans market is the growing popularity of the hybrid paint cans which is made up of one type of material. Generally, the body of hybrid paint can is made up of a plastic material while other accessories such as handle, rings, and plugs are made up of the metallic material. Hybrid cans are very cost effective and durable packaging solution.
Hybrid paint can manufacturing companies are focusing to further reduce the environmental impact of these cans through use of recycled materials. Hybrid paint cans cost less than other packaging alternatives such as metal cans. Hybrid paint cans are designed in such a way that it is resistant to rust and dents. Hybrid paint cans have emerged as an effective packaging solution in the global paint industry. These cans are available in the variety of shapes and sizes ranging from 500 ml to more than 20 liters and it could also be customized according to the requirement of brand owners.
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Hybrid Paint Cans Market: Market Dynamics
Demand for hybrid paint cans is expected to witness a healthy CAGR rate during the forecast period due to its cost-effectiveness and better characteristics than other metal-based alternatives. Hybrid paint cans market is also expected to grow with the increase in demand for the environment-friendly packaging products in the paint and coatings industry. It has witnessed strong growth in the last five years and is expected to continue its wave for the next 5-10 years. The recent trend noticed in the market is the introduction of the hybrid paint cans made up of 70-80% recycled plastic resin which will compel paint companies to adopt this sustainable packaging solution over metal-based paint cans. Major restraints in the hybrid paint cans market are the increasing rules and regulations over the use of plastic materials globally.
The market may decline due to the negative impact of stringent regulations on the plastic products. However, other alternatives such as metal paint can is fully recyclable and could be used and over again which in turn might decline the demand for hybrid cans in near future. However, there are enormous opportunities for the small-scale and multinational manufacturers in the developing countries of Latin America and Asia-Pacific to offer hybrid paint cans in these regions.
Hybrid Paint Cans Market: Regional Overview
On the basis of region, the Hybrid paint cans market is segmented as North America, Latin America, Eastern Europe, Western Europe, APEJ (Asia-Pacific Excluding Japan), Middle East & Africa, and Japan. Hybrid paint cans market is expected to witness strong growth in the developed countries of North America and the European region. Paint and coatings manufacturing companies in countries such as the U.S., Germany, Italy, Japan, and France are increasingly adopting hybrid paint cans for the packaging of their products. It not only help companies to reduce the overall cost of the product but also offer good characteristics than other metal-based alternatives.
Demand for hybrid paint cans has witnessed significant growth in the Asia-Pacific region in the last few years due to the increased number of companies offering this product to the large segment of customers in the region. The Indian paint industry is expected to witness more than 10% growth in 2018. The prediction has come into effect after the government’s decision to cut down GST tax rate from 28% to 18%. This will create enormous growth opportunities for the hybrid can manufacturers in India. Also, the multinational players could focus on expanding their operations in the emerging markets.
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Hybrid Paint Cans Market: Market Players
Some of the key players in the Hybrid paint cans market are Berlin Packaging, BWAY Corporation, Silgan Holdings, Industrias Sanz SA, and KW Plastics, Inc.
The Hybrid paint cans market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Hybrid paint cans market report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Hybrid paint cans market report also maps the qualitative impact of various market factors on market segments and geographies.
Hybrid Paint Cans Market: Regional analysis includes
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Hybrid Paint Cans Market: Market Segmentation
Hybrid Paint Cans Market Segmentation: By Material Type
Hybrid Paint Cans Market Segmentation: By Product Capacity
Hybrid Paint Cans Market Segmentation: By Packaging Application
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Dec 10, 2022
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