As per the research conducted by Future Market Insights, during the forecast period, the global hybrid paint cans market is expected to account for US$ 1.2 billion in 2023, and is going to further expand at a CAGR of 4.1% to grasp valuation of US$ 1.8 billion by the year 2033. The sales of the hybrid paint cans are anticipated to boost with the foremost 3 countries expected to hold around 25 to 30% of the market in 2023.
The plastic hybrid paint cans are made up of recycled polypropylene and further combined with metals like tin to coat rings and plugs. Hybrid paint cans are black in colour and are best substitute to the metal cans. As environmental concerns and safety precautions are increased and hybrid plastic cans are more environmental friendly and recyclability.
| Attributes | Details |
|---|---|
| Market Size 2023 | US$ 1.2 billion |
| Market Size 2033 | US$ 1.8 billion |
| Value CAGR (2023 to 2033) | 4.1% |
| Collective Value Share: Top 3 Countries (2023E) | ~35 to 40% |
The hybrid paint cans market revenue totaled US$ 1.1 billion in 2022. With the driving request from the several end-use industries, the hybrid paint cans market is projected to reach US$ 1.8 billion by 2033, accelerating at a CAGR of 4.1% during the forecast period.
The hybrid paint cans market is predicted to see a constructive growth during forecast period due to increased consumption of end-user industries like automobile and construction. Hybrid paint cans are perfect for latex paints, colorants and water-based materials. Hybrid paint cans offers heavy-duty, lucrative and ecological option for manufacturers. Hybrid paint cans market is projected to grasp incremental growth of US$ 626.7 million. The hybrid paint cans market is anticipated to expand 1.6 times the current market value during the forecast period.
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The global hybrid paint cans market witnessed a CAGR of 3.7% during the historic period with a market value of US$ 1.1 billion in 2022.
Hybrid Paint cans are the most leading form of paint packing, across the globe. Hybrid paint cans are also called as regrind paint cans. Hybrid paint cans are used to store the paints and colorants. Hybrid paint cans are manufactured via injection molding from 90% of post recycled resin and polypropylene they are rust and dent resistance and offers more decoration on cans and plugs. Hybrid Paint cans generally comes in round shape as they won`t leak and protects the liquid. They are easy to open and shut and are specially treated to inhibit skinning of the paint. Hybrid plastic cans are more comfortable as they are lightweight and keeps the contents fresher for longer time. Plastic are likely to have greater power-to-weight & stiffness ratio. Hybrid paint cans are designed in such a way that it is resistant to rust and dents. Hybrid containers are designed to be interchangeable with metal paint cans. The packaging industry as well as the consumer-demand inclines more towards packaging formats which have minimal impact on the environment, Hybrid paint cans have emerged as an effective packaging solution in the global paint industry.
The constant grow of automobile industry is expected to initiate a robust demand for hybrid paint cans.
The call for environmental friendly packaging has led to growing demand for packaging solutions which can be recycled. Plastic are light weight than metals and offer more chemical resistance than metal such as oxidation. Hybrid paint cans are mostly made of recycled polymers. In addition, the recycling of hybrid paint cans is an easy task, and can be easily accomplished. Hybrid can offer high durability with recyclable ability than other paint cans. Hybrid paint cans indicate that the general industry viewpoint of the paint cans industry aligns more towards packaging formats which can be recycled.
The demand for eco-friendly packaging has led to increasing demand for packaging solutions which can be recycled. The paint cans are mostly made of steel and contain around 25% recycled steel. In addition, the recycling of paint cans is not a daunting task, and can be easily accomplished once the interior is cleaned
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The capacity above 4000 ml is anticipated to grow CAGR 4.7% during forecast period. Paint storage requirements are based on flammability and flash points. There is high demand for packaging solutions with high capacity. This is fulfilled by plastic containers and pails which have a capacity of well over 4000 ml. Several containers of latex-paint sold in the market come in plastic containers. Plastic pails and bulk containers lead to reduced weight of the packaging leading to more user convenience. Improved developments in end-user industry and the rapidly growing end-use sector will heighten the sales of hybrid paint cans across the globe. Material of hybrid paint cans helps to prevent the degradation of product.
India is estimated to hold around 45.6% of the South Asia market by the end of 2023. According to India Brand Equity Foundation (IBEF) India is one of the dominating country in automobile. India enjoys a strong position in the international heavy automobiles market. India is the largest creator of tractors & second leading constructer of bus. Increasing middle class revenue and enormous youth populace will result in sturdy demand. Due to environmental conditions, India is aiming to shift on electric vehicles to diminish emissions which will also create more job opportunities. Paints are used in automobiles for both protecting and attractive purposes. As paints plays a major role in decorating automobiles and India is also a projecting auto exporter and has solid carry across growth expectations for the near future. India is expected to demand more for hybrid paint cans. Thus, the increased consumption of vehicles in India will create decent growth opportunities for hybrid paint cans.
The China market is projected to grow at CAGR 4.4% market share during 2023 to 2033. According to data provided by International Trade Administration, China is one of the largest national markets for construction in the world. It is forecasted to grow at an annual average of 8.6%. The increase in the amount of single person homes, leading to increase in call for fresh housing construction. Painting is often viewed as a visual enhancement for constructing buildings & interior but it also brings practical advantages. Paint is used to safeguard all sorts of constructions and structures from the effects of water and sun. The paint also helps to avoid the wood from drying out in the hot sun. Paint also protects walls from the harmful effects of water. Adequate paint selection can reduce plan costs while refining performance. The increasing construction of buildings projects and households in China has a constructive growth impact on the hybrid paint cans.
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The key players operating in the hybrid paint cans market are trying to focus on increasing their sales and revenues by expanding their capabilities to meet the growing demand. The leading players are trying to adopt a merger & acquisition strategy to expand their resources and are developing new products to meet customer needs. Also, the players are focusing on upgrading their facilities to cater to the demand. Some of the recent developments by the leading players are as follows
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.1% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Units and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscapes, Growth Factors, Trends and Pricing Analysis |
| Segment Covered |
Capacity, Product Type, End Use, Region |
| Regions Covered |
North America; Latin America; East Asia; South Asia & Pacific; Western Europe; Eastern Europe; Central Asia; Russia & Belarus; Balkan Countries; Baltic Countries |
| Key Countries Profiled |
USA, Canada, Brazil, Mexico, Germany, Italy, France, United kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled |
The Cary Company; Mauser Packaging Solutions; Nortan Packaging; KW Container; Dominion & Grimm Inc.; Pipeline Packaging |
| Customization | Available Upon Request |
The global hybrid paint cans market was US$ 1.1 billion in 2022.
The global hybrid paint cans market is estimated to reach US$ 1.2 billion by the end of 2023.
By the end of 2033, the global hybrid paint cans market is projected to reach US$ 1.8 billion.
The global hybrid paint cans market exhibited a CAGR of 3.9% over the last 4 years.
The hybrid paint cans market is projected to register a CAGR of 4.1% from 2023 to 2033.
The capacity above 4000 ml will garner significant value share by 2023.
The building and construction predicted to grow at CAGR 4.2% during 2023 and 2033.
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Hybrid Paint Cans Market
