The global tin containers market size is expected to reach US$ 15.6 Billion in 2022 and US$ 17.9 Billion in 2032. It is anticipated to exhibit considerable growth at a CAGR of 5.3% in the forecast period from 2022 to 2032. The increasing demand for tin containers in the beverage and paints & coating industries is set to propel the market in the near future.
The usage of metal is nowadays declining in the packaging industry with the ongoing trend of lightweight packaging. Many manufacturers are gradually inclining towards tin as these are light in weight and can be made available in a wide range of sizes, styles, and shapes.
Evolving consumer preferences, changing lifestyles, and a surging middle-income group population are some of the vital factors that are anticipated to boost growth in this market. The increasing demand for petroleum lubricants and chemicals in numerous end-use industries is another significant factor that is likely to propel sales in this market.
In addition to that, the surging demand for sucralose juices, health drinks, carbonated soft drinks, and healthy beverages across the globe is projected to influence the market in the forthcoming years. The rising number of grocery stores and superstores in both developed and developing economies is also set to augur well for the global market
Which are Some Prominent Drivers Spearheading Tin Containers Market Growth?
The rising usage of tin containers and tinplate in the pharmaceutical industry for the packaging of capsules, powders, ointments, and pastilles are expected to bode well for the global market. As these containers are highly resistant to microbes, odors, moisture, and gases, their demand is anticipated to surge at a fast pace in future years. These are also robust, opaque, and unbreakable, as compared to other metals.
These containers provide excellent printability which further helps key companies to propel their brand credibility. The easy availability of customized containers as per the requirement of customers is likely to push sales of tin containers in the assessment period. Even though these containers are facing competition owing to the surging sales of glass and plastic containers, their ease of filling and high-speed manufacturing is providing them with a competitive edge.
What are the Challenges Faced by the Tin Containers Industry?
One of the major disadvantages of tin packaging is that it cannot be utilized for the packaging of extremely acidic products. As tin is corrosive, acidic products can lead to the destruction of both the packaging and the product? Tin containers are not transparent and thus, consumers will not be able to see what is inside them to make their purchase decision. These are also difficult to store effectively as these containers cannot be easily squashed or bent by hand. Spurred by the aforementioned factors, the tin containers market growth may get hampered in the evaluation period
Why is North America Emerging as an Opportunistic Tin Containers Market?
North America is anticipated to procure the largest tin containers market share in the evaluation period. This growth is attributable to the presence of various beverage manufacturers, such as Coca-Cola and PepsiCo in the USA and Canada. The surging demand for soft drinks among the youth population in these countries is projected to augur well for the regional market.
The high recyclability of tin containers is also set to drive the market. Many companies are developing products from recycled containers to use less water, carbon emissions, and energy. The rising preference for multi-pack and small-size packaging formats among consumers is another vital factor that is likely to propel the North American market.
How is Asia Pacific Contributing to Growth of the Tin Containers Market?
The growing production of tin in India, China, and some of the South East Asian countries is projected to bolster the Asia Pacific tin containers market growth in the upcoming years. The rising number of food processing companies in these countries is also set to bode well for the regional market.
The entrance of several international companies in India and China through huge investments in their local manufacturing facilities is another crucial driving factor. The rising focus of multiple beverage companies on the production of mini cans and containers to provide smaller volumes of products at a relatively low cost is also estimated to augment the growth across the Asia Pacific.
