Global Aluminum Cans Market Overview
An aluminum can is a packaging container used for packaging chemicals, food and beverages, oil and many other products. Aluminum cans are widely preferred in packaging industry as the products that are packed within it do not lose their quality and are safe for usage. In the distribution process, aluminum cans do not require much care while handling. Aluminum cans are cost-effective, have high reflectivity to heat & light and are light in weight.Aluminum cans provide protection against oxygen, moisture, light and various other contaminants which does not rust. They also provide long shelf lives to the products to any kind of packaging and are nontoxic by nature. Benefits of aluminum cans include malleability, recyclability, corrosion resistance and low cost of production.
Market Size and Forecast
The Aluminum cans market, in terms of value, is estimated to grow significantly in 2017 and expected to grow rapidly during the forecasted period at a CAGR of around 2.9%. Increase in intake of processed food & beverages, increase in shelf life of products and growth in disposable income of consumers stimulate the growth of aluminum cans market globally. Aluminum cans are capable in preserving the quality and flavor of the contents. Aluminum cans are one of the widely used containers for packaging purposes and have an unparalleled safety record.
North America holds the largest market share in terms of revenue due to the growing concerns regarding the use and consumption of sustainable packaging materials. North America accounts more than one-third of the total global consumption of aluminum cans. According to The International Aluminum Institute, the aluminum production in North America has increased from 926 metric tonnes in the first quarter of 2018 to 935 metric tonnes in the second quarter of 2018, which helps to grow the aluminum can industry in this region.Asia Pacific is anticipated to be the fast growing market due to the availability of raw materials and low labor cost. Companies such as Crown Holdings invested in Asia to meet the aluminum cans demand. Rapid growth in market segments such as energy drinks and juices also stimulates the growth of aluminum cans market in this region. According to The International Aluminum Institute, the aluminum production in Asia Pacific has increased from 32641 metric tonnes in 2016 to 35905 metric tonnes in 2017.After North America, Europe is the second leading contributor to the global aluminum cans market due to the growth of food & beverages segment in this region. The packaging industry holds a solid ground in Europe. According to The International Aluminum Institute, the aluminum production in Europe has increased from 3981 metric tonnes in 2016 to 3999 metric tonnes in 2017, which helps the aluminum can industry to grow in this region.
Our-in depth analysis of the global aluminum cans market includes the following segments:
By Application Type
By Structure Type
Global aluminum cans market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Shift in consumer preferences towards beverages and packaged food due to significant rise in disposable incomes. This is one of the major factors which stimulate the growth the global aluminum cans market. Due to significant increase in environmental concerns among consumers, stimulates the growth of aluminum cans market globally. Consumers have also become aware about the recyclability and recovery properties of aluminum cans which also drive the demand for aluminum cans. Governments of various nations have applied numerous policies and regulations for the manufacturers to produce better quality packaging which also drives the growth of aluminum cans market globally.
Increasing demand for deodorants, hairsprays and pharmaceuticals augmented the growth of aluminum cans market globally. Aluminum cans can be easily recycled without any harm in quality and getting recognition about aluminum cans worldwide by customers also drives the growth of aluminum cans market. Aluminum cans have an unmatched safety record and are one of the most widely used containers for packaging purposes. Non-toxic in nature and require less care during handling are one of the benefits of aluminum cans. Aluminum cans are widely used due to their light in weight, easy to handle and cost effectiveness characteristics.Availability of substitutes such as packaging made of materials including PET and glass become the major restraint for the growth of aluminum cans market globally.
Scope and Context
Overview of the Parent Market
The global aluminum cans market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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