The global paint bucket market is projected to be valued at US$ 5.3 Billion in 2023 and is anticipated to expand at a CAGR of 4.2%. Owing to the advances in packaging, the market is likely to surpass a valuation of US$ 8 Billion by 2033.
Factors supporting the market growth are listed below -
Paint buckets are the most dominant form of packaging paint. A significant boost to paint buckets is from the fact that packaging is not only about the external appearance but about the value of convenience, transport, and storage. As a result, plastic remains a highly sought-after material for the manufacturing of paint buckets.
Advances in technology are expected to lead to the development of paint buckets. Many manufacturers are trying to use different materials to offer convenient packaging solutions for end-use industries. The growth of the paint bucket market is attributed to infrastructure spending and increasing usage of exterior paints globally.
Increasing construction activities in a variety of industries are positively influencing paint consumption and, as a result, the paint bucket market is growing globally. Also, rapid industrialization and rising standard of living provide significant growth opportunities for the market.
Increasing R&D spending is positively impacting global market growth. Consumer demands for creative packaging are expected to drive the paint bucket market growth globally over the forecast period. There are several types of paint buckets available on the market, which are also expected to drive the industry.
North America is expected to hold a high share of the global paint bucket market owing to the increasing level of investment in the development of advanced infrastructure in the region. Asia pacific paint bucket market is expected to experience significant growth in coming years driven by factors such as increased construction as well as industrial spending. Emerging countries such as China & India are expected to be significant contributors to the Asian market.
FMI research indicates paint bucket packaging solutions show great potential for not only durability but improving outcomes for buyers in different areas. The paint bucket packaging should meet the objectives like:
The manufacturer offers a wide selection of packaging options in sizes, shapes, and capacity with easy-to-open formats to bring out the best in paint packaging.
The paint bucket market is highly fragmented due to the presence of many small and large scale companies offering paint bucket products. Some of the key players operating in the paint bucket market are RPC Group Plc, Mauser Packaging Solution, Industrial Container Services, C.L. Smith, and Symlux Plastics among others. Com
Companies operating in the paint bucket market are focusing on organic growth strategies like product launches and product approvals. They have adopted various strategies such as mergers, acquisitions, advanced product development, and collaboration to gain a competitive edge in the market.
For Instance, in December 2022 - Global rigid container and life sciences packaging distributor, Novvia Group acquired Rahway Steel Drum Company New Jersey-based distributor of drums, pails, IBCs, and other rigid packaging solutions.
The new market entrants are developing products that prove to be more reliable, versatile, and improved packaging solutions for different industry verticals. The startups developing an innovative packaging solution that is unbreakable with a perfect finish, attractive look, and leak-proof, the offered products are widely demanded in the market
The future of the paint bucket market is promising as the market is expected to continue growing in the coming years. The increasing requirement for eco-friendly and cost-effective paint buckets is expected to drive market growth in future.
Paint buckets are widely used for storing a large quantity of paints and coatings. These buckets are also called as pails. Paint buckets are airtight containers that help to reduce spoilage and contamination of the inside products. Paint buckets are easy to use solutions for many end-users.
The paint buckets are available in two forms such as plastic paint buckets and metal paint buckets. These buckets are available in various sizes and colors in order to meet customer’s requirements. The market of paint buckets is dynamic and perfect competition is witnessed in different regions.
Hence manufacturers are focused on the implementation of advanced technologies and cost-effective manufacturing of paint buckets. The paint buckets are manufactured with eco-friendly materials. Owing to increasing projects on structural developments, the demand for paint buckets is expected to expand with substantial growth rate, during the forecast period.
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Leakage proof packaging of the chemicals and pain material is the fueling factor for driving the paint bucket market across different regions. Besides this, lightweight transportation which results in low transportation costs is also responsible for boosting the paint buckets market. The global industrial packaging market is expected to increase with a high growth rate during the forecast period.
This can be attributed to significant growth in the paint buckets market in the next decade. The paint buckets market is growing in multiples on the backdrop of increasing architectural and infrastructural development in many countries. Robust industrialization, urbanization, and rising consumption of paints and coating are anticipated to propel new growth opportunities of paint buckets during the forecast period.
Despite the positive outlook, some factors might hamper the growth of global paint buckets market. Changing plastic regulations and the degradation of waste paint buckets are adding more challenges for the growth of the paint buckets market.
Geographically, the production and consumption analysis of the global paint bucket market is divided into seven regions such as North America, South America, Europe, East and South Asia, Oceania, and the Middle East and Africa. East Asia region is expected to pose a high potential for the growth of the paint buckets market as relatively high infrastructure development is anticipated during the forecast period.
This will result in to increase in demand for paint buckets in these regions. Following this, lucrative opportunities are witnessed for the paint bucket market in the South Asia region. In Asian countries such as Malaysia, Indonesia, Singapore are expected to develop new architectural projects for tourism.
This will lead to an increase in growth opportunities for the paint buckets market. North America is a leading market for paint buckets. However, as per the America Society of Civil Engineers (ASCE), the USA infrastructure has D+- grade. Hence, the USA government is more focused on new developments which might have a positive impact on the paint buckets market. Europe's paint bucket market is expected to grow with moderate growth rate.
Principal Consultant
Some of the key market players operating in the global paint buckets market are listed below:
Apart from this many new players are entering in to the Paint Buckets Market for significant revenue generation.The paint buckets market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Globally, the paint buckets market has been segmented on the basis of material, capacity, application, and end use.
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