Aluminium Cans Market Overview 2017, Demand by Regions, Share and Forecast to 2022
The global aluminium cans market has witnessed a moderate growth over the past few years. Some of the major driving factors include technological developments, lower cost of production and a strong demand from food and beverage industry.
Aluminium cans have been in use for many decades on account of their distinctive properties. They act as an exceptional barrier to air, light and moisture, making the cans rust-resistant as well as proficient in preserving the quality and flavour of the contents. In addition, aluminium cans exhibit high strength and require less care during their handling and distribution as compared to glass containers. IMARC Group’s latest report, titled “Aluminium Cans Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global aluminium cans market reached a volume of around 285 Billion Cans in 2016, growing at a CAGR of nearly 3% during 2009-2016.
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Highlights of the Global Aluminium Cans Market:
Technological developments and low production cost remain the primary growth driving factors.
In terms of consumption, beverage sector accounts for the majority of the market share.
North America holds the majority of the global share, representing the largest market.
The popularity of aluminium cans can be attributed to its properties such as high durability, malleability and high thermal conductivity. Further, technological developments have resulted in the manufacturing of easy-open lids and sophisticated graphical designs on the cans, which in turn are broadening the growth aspects of the global aluminium cans market. Moreover, manufacturers are undertaking initiatives to produce eco-friendly cans by improving their recycling rate. Population growth, rising disposable incomes, changing lifestyles, low production cost and a strong demand from the food and beverage industry are some of the other growth inducing factors. According to the report, the market is further expected to reach a volume of more than 325 Billion Cans by 2022.
The market has been segmented on the basis of application. Currently, beverage sector accounts for the majority of the global market share. On the basis of region, North America represents the biggest consumer of aluminium cans, accounting for nearly a third of the total global share. The other major regions include Western Europe, Asia-Pacific and Others. Some of the key players operating in the market are Rexam, Crown and Ball.
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The report has examined the global aluminium cans market on the basis of:
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