The global collapsible jerry can market is expected to generate a revenue of US$ 6.72 billion by 2032, with the demand growing at a slow CAGR of 3% from 2022 to 2032. Valued at US$ 4.9 billion in 2021, the market rose to US$ 5 billion in 2022. This steady growth can be attributed to the elevated demand for compact and bulk packaging solutions. Further, the added benefits of using collapsible jerry cans such as spillage and leakage protection also aid the growth of the target market during the forecast period.
Collapsible jerry cans, also known as foldable jerry cans, are rapidly gaining traction as a feasible packaging solution. The use of these cans ensures the elimination of unwarranted overhead expenses as well as other storage issues of an empty container. The foldable feature- implying that the cans can be compressed into a number of sections- of the cans leads to increased load capacity and stability. Storage managers are always on the lookout for package formats that will expand their storage capacity. Since the collapsible jerry can meet all of these criteria, the market has registered greater demand in the upcoming years.
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The convenience and safety of shipping products assured by the use of collapsible jerry cans promote its usage across a variety of end-use industries like food and beverages, chemicals and lubricants, and many others. These cans are designed to prevent liquid products from spilling and leaking during transit. This protection is further enabled by the materials used for the production of collapsible jerry as these cans are made from materials like HDPE and LDPE, PVC, and others.
Many manufacturers are covering collapsible jerry cans with barrier layers to shield them from sunlight and other environmental threats. These multi-layered collapsible jerry are gaining rapid popularity in a wide range of industry verticals such as agrochemicals and industrial chemicals which bodes well for the overall market growth.
The compact size and bulk protective packaging of collapsible jerry cans are an ideal fit for industrial chemical end use which is expected to act as a primary growth driver during the assessment period. Moreover, the slight weight of the material used in collapsible jerry cans is also attracting end-users to the product. These cans can also be made from bioplastic, a material that has observed tremendous demand in current years. Similarly, the availability of collapsible jerry cans with protective layers of EVOH, polyamide, and other materials further enhances protection for food and beverage products that are kept in collapsible jerry cans. All of these factors drive the growth of the collapsible jerry cans market during the forecast period.
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Key Takeaways:
- HDPE is the most commonly used material for the production of collapsible jerry cans.
- High demand for the product in emerging economies like India and China will propel the jerry cans market forward in the Asia Pacific region.
- Expanding automotive market will aid the growth of the North America collapsible jerry cans market.
Competitive Landscape
Butyl Products Ltd., Liquid Containment, Polyene General Industries Private Limited., and Changzhou Changshun Plastic CO. Ltd., Butyl Products Ltd., Liquid Containment, Polyene General Industries Private Limited., and Changzhou Changshun Plastic CO. Ltd., among others, are some of the major players in the collapsible jerry can market profiled in the full version of the report.
In a highly competitive environment, prominent market players are focusing on entering new geographies to expand their production capacities. These organizations are keen on introducing and developing new products and engaging in other organic and inorganic business strategies.
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More Insights into Collapsible Jerry Can Market
FMI offers the latest, unbiased, and detailed analysis of the global collapsible jerry can market, providing historical data from 2015 to 2020 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of material type, capacity, closure type, end-use, and region.
According to the same reports, based on segmentation, HDPE and bioplastics material types will remain popular during 2022 and 2032. These categories will contribute substantially to the overall market growth.
Based on region, the collapsible jerry can market in the Asia Pacific and North America will register considerable growth over the next few years. Greater manufacturing activities and rapid development in the industrial sector influence the market in the Asia Pacific region while an advancing automotive and lubricant market in North America drives the market growth in the region during the forecast period.
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