The packaging industry, over some time, has been experiencing tremendous growth, thanks to the expansion of the e-commerce industry in developing and underdeveloped parts of the world.
This has put tremendous pressure on metal pail manufacturers as they have to supply enormous quantities to the factory units that are involved in the production of chemicals, paints and coatings, inks, dyes and pigments, petroleum, lubricants, etc.
The metal pail market is estimated to be a staggering USD 4.57 billion as of 2024 and is poised to grow at a modest CAGR of 4.10% for the forecast period. The sustainability concerns in the general populace and businesses around the world are the major reasons for this decent growth. In the last few years, the market has seen a series of ups and downs, especially during the pandemic, when the world faced sudden shutdowns.
The market is anticipated to have significant prospects in Asian countries like India, China, Thailand, Japan, and South Korea. This is primarily attributed to the expanding manufacturing sector, the booming packaging industry, and the Chinese dominance in the chemical sector where the pails are consumed the most. All these reasons are responsible for taking the market valuation to a predicted USD 6.66 billion by the end of 2034.
| Attributes | Details |
|---|---|
| Market Value for 2024 | USD 4.57 billion |
| Projected Market Value for 2034 | USD 6.66 billion |
| Value-based CAGR of the Market for 2024 to 2034 | 4.10% |
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Metal pails come in various sizes and variants. Among these 6-20 liters metal pails are anticipated to hold a market share of 35% in 2024.
| Attributes | Details |
|---|---|
| Capacity | 6 to 20 litres |
| Market Share (2024) | 35% |
The demand for these pails in various industries has touched the skies as they are recognized for their durability, versatility, and reliability. These industries rely heavily on pails made from metal for packaging and transporting their products.
Besides this, small-sized industrial pails are also getting a lot of preference over large ones as they are more convenient for various applications. Small-sized pails offer advantages such as ease of handling, portability, and space efficiency.
Pails made from metal are used in a wide spectrum of industries, such as chemicals, pharmaceuticals, coatings paintings, etc. Among these, the chemical industry is in line to take the majority share of 72% in 2024.
| Attributes | Details |
|---|---|
| End User | Chemical |
| Market Share (2024) | 72% |
The chemical industries worldwide are generating huge demand for metal pails as they offer unparalleled safety and protection for storing and transporting hazardous chemicals. Besides this, they are also preferred over pails made from other materials due to their robust construction, which prevents leaks, spills, and contamination.
The clamor for these pails is also due to their ability to withstand the corrosive properties of various chemicals, ensuring the integrity of both the product and the packaging.
| Countries | CAGR (2024 to 2034) |
|---|---|
| India | 5.80% |
| South Korea | 5.80% |
| Japan | 5.60% |
| China | 5.50% |
| Thailand | 5.30% |
The Indian metal pail market is a promising one. It is slated to grow at a CAGR of 5.80% through 2034.
India, in the last few years, has been taking significant strides in the field of indigenous manufacturing, thanks to the government’s Make in India campaign. This has not only increased the domestic production of goods but also brought innovative technologies to the country’s industrial landscape.
With this booming production, the demand for these pails is also very likely to experience an upward surge. Besides this, the country’s production and consumption of various goods, including those requiring metal pail packaging have also increased. This is substantially benefitting the market in the country.
South Korea is a lucrative country in this market. The market in the country is poised to grow at a CAGR of 5.80% through 2034.
South Korea is well-known for its export-oriented production in the Asia Pacific region. This is primarily due to its heavily mechanized factory units and the presence of an entrepreneurial mindset among the general populace.
This enormity of production, especially in niche industries such as chemicals, metals, coatings paints, etc., has collectively led to the unprecedented demand for industrial pails for packaging and transporting goods.
The future of the market in Japan looks solid. The market is slated to grow at a CAGR of 5.60% through 2034 in the country.
Japan has, from the beginning of the century, been dealing with the problem of a growing aging population. The country has more than half of its population above the age of 50.
This population is more prone to getting diagnosed with diseases which eventually creates a huge demand for pharmaceuticals and chemicals. Metal pails are used extensively in these industries to provide secure and reliable packaging solutions for pharmaceuticals and chemicals.
The Chinese market is slated to grow at a CAGR of 5.50% for the forecasted period of 2024 to 2034.
China is one of the leading manufacturers when it comes to chemicals and chemical-associated products. Of the global chemical industry, China is said to hold approximately 40% of the share.
This dominance automatically creates excellent demand for industrial pails as they are one of the crucial components in the packaging, storing, and distribution of chemicals. Besides this, China also exhibits decent market growth for these pails due to its expanding e-commerce and last-mile delivery sectors.
The Thai market is very likely to flourish in the coming years. It is slated to grow at a CAGR of 5.30% through 2034.
When it comes to industrial diversification, no country can come closer to Thailand. Over the past few years, the country’s industries have progressed appreciably.
This is in turn driving demand for these pails across multiple sectors. Apart from this, Thailand’s thriving tourism and hospitality sector also requires a wide range of products packaged in these pails, including cleaning agents, paints, and food ingredients.
Principal Consultant
The market is filled with a multitude of companies that are vying for international dominance. The industry is dominated by very few companies as they hold a majority chunk of the market.
Besides this, the ongoing sustainability trends across industries are also negatively influencing market growth. Manufacturers are trying to embrace sustainable practices in the manufacturing and disposal of these pails to cater to the demands of eco-conscious consumers and businesses.
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The metal pail market is expected to be worth USD 4.57 billion in 2024.
The metal pail market is expected to reach USD 6.66 billion by 2034.
The market is inclined to grow at a CAGR of 4.10% from 2024 to 2034.
Mauser Packaging Solutions, Berlin Packaging, Greif, Inc., Ardagh Group, BWAY Corporation, Crown Holdings, Inc., and Industrial Container Services (ICS), are some of the major players in the market.
The valuation for the market in 2023 was USD 4.40 billion.
The market can be segmented into the following categories: capacity, pail type, and end use.
6 to 20 litre capacity pails are expected to be the most in demand for 2024.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Capacity 5.1. Less than 5 Liters 5.2. 6 to 20 Liters 5.3. 21 to 50 Liters 5.4. Above 50 Liters 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Pail Type 6.1. With Handle 6.2. Without Handle 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 7.1. Chemicals 7.1.1. Paints & Coatings 7.1.2. Inks, Dyes & Pigments 7.1.3. Petroleum & Lubricants 7.1.4. Agrochemicals & Fertilizers 7.2. Food & Beverages 7.3. Pharmaceutical 7.4. Others 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Mauser Packaging Solutions 18.2. CL Smith LLC 18.3. P. Wilkinson Containers Ltd. 18.4. TANKS INTERNATIONAL SRL 18.5. Behrens Manufacturing, LLC 18.6. ASA Group 18.7. Lancaster Container Inc. 18.8. Aaron Packaging 18.9. Cleveland Steel Container 18.10. Japan Pail Corporation 19. Assumptions & Acronyms Used 20. Research Methodology
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Metal Pail Market
