Metal containers market to grow to $233bn by 2033
The global metal containers market is projected to be worth more than $233billion by 2033, growing at a CAGR of 6%, according to a new report.
That is up from its current estimated value of $124.9billion in 2023.
Metal container with lids is significantly used in the food & beverage industry owing to features such as low weight.
In addition to this, it is unbreakable, and light-proof with excellent barrier properties against oxidation and temperature are other advantages. Moreover, track-and-trace packaging is gaining momentum in the food supply chain and has almost become a necessity now.
Further, metal containers are used prominently in the chemicals industry as they are apt storage solutions for many industrial chemicals such as, sealants, and resins.
They provide resistance to corrosion, have the ability to handle harsh solvents, and are available in a wide range of sizes and designs. Along with the regulations for air, rail, highway, and sea transportation, the need for safe transportation of hazardous products is expected to boost the demand.
Key Takeaways from the Metal Containers Market Study Report
- With a market valuation of $19,891.1 million in the year 2023, the United States metal container market leads the global market. During the forecast years, this regional market is projected to grow at a limited rate of 4.8%.
- Germany is the leading manufacturer of Metal containers in the European region with a market valuation of $8,707.9 million for the year 2023. However, Poland is anticipated to be more lucrative where the demand for metal containers is poised to grow at 7.7% yearly through 2033.
- Likewise, China is the prominent region for metal containers in the Asia Pacific region with a market valuation of $6,075 million in 2023. On the other hand, the sales of metal containers by Indonesia are expected to witness a CAGR of 9.9% through 2033.