Companies Profiled in the global Steel Containers Market are Supermonte Group Italy, Inc., SCHÄFER Container Systems, Unique Steel, Eagle Stainless, Ability Fabricators Inc., Eco Imprints, Inc., Müller GmbH, Thielmann - The Container Company, La Nuova Sansone S.r.l., WADA STAINLESS INDUSTRY CO LTD
DUBAI, United Arab Emirates, Aug. 04, 2022 (GLOBE NEWSWIRE) -- The global steel container market is projected to reach a value of US$ 155.12 Bn by the end of 2032, with sales growing at an average CAGR of 3.0% for the forecast period of 2022 to 2032. Steel container market is expected to reach an estimated value of US$ 115.43 Bn in 2022. Steel containers are easy to handle, strong, and anti-corrosive in nature.
These properties are ideal for transportation, handling, and storage of a variety of products including food and beverages as they prevent contamination by external factors like moisture and other environmental variables. This bodes well for the market prospects of steel containers.
Rising demand for steel containers in the food industry in order to handle, store, and ship various food products is expected to be the primary growth driver of steel containers over the forecast period.
Kegs for the packaging of drinks, cans, oil, and generic bottles for carbonated beverages, are likely to further the growth of the steel containers over this period of observation. Furthermore, owing to their thick wall finish, they are ideal for storing household food items like pulses, nuts, cookies, tea, coffee, and others. Thus, the growing use of steel containers for household purposes is also expected to boost market sales.
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Steel containers are widely used in chemical industries as reactors. Due to their inert nature and excellent particle isolation, the chemical products get to keep their properties. This factor is likely to augment the use of steel containers in the chemical sector and consequently drive the growth of the global steel container market during the forecast period.
Steel containers are manufactured from different stainless-steel grades and custom designed for shipping, holding, and handling food, beverages, and other products. They have high strength, a robust design, anti-corrosion properties, and airtight finishes that make them ideal for protecting products from moisture and other environmental contamination.
Steel container types include jars, cans, canisters, kegs, bottles, drums, and IBCs which are available in various shapes and sizes, and are highly recyclable. All these factors contribute to the global steel container market statistics that are expected to stay positive over the forecast period.
“Anti-corrosion and excellent barrier properties promote the usage of steel containers across multiple industry verticals which in turn will likely augment the sales of steel containers for the forecast period,” says an FMI analyst.
Elevated demand in food and beverage to propel market growth.
Sales in Western Europe are anticipated to rise over the assessment period.
North America is predicted to display significant market growth over the forecast period.
The U.S. market is projected to account for the largest market share with Canada exhibiting the highest growth rates.
Steel container market in ASEAN countries to display remarkable growth.
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Supermonte Group Italy, Inc., SCHÄFER Container Systems, Unique Steel, Eagle Stainless, Ability Fabricators Inc., Eco Imprints, Inc., Müller GmbH, Thielmann - The Container Company, La Nuova Sansone S.r.l., and WADA STAINLESS INDUSTRY CO LTD among others are some of the major players in the steel container market that are profiled in the full version of the report.
Major manufacturers of steel containers are offering specialized steel containers with specific applications, sizes, and designs alongside their smooth finishing options that will make for a more engaging experience for consumers. This will aid in meeting the diverse needs of individual consumers. These businesses also engage in strategic partnerships and collaborations that meet the regional requirements of the containers.
More Insights into the Steel Containers Market Report
In its latest report, FMI offers an unbiased analysis of the global steel container market, providing historical data from 2015 to 2021 and forecast statistics for the period 2022 to 2032. To understand the global market potential, growth, and range, the market is segmented based on product type (jars, cans, canisters, bottles, drums, kegs, IBCs), capacity type (less than 2 liters, 2-10 liters, 10-20 liters, 20-50 liters, 50-100 liters, more than 100 liters), end user (food, dairy products, honey, grains, sugar, tea & coffee, others, beverages, alcoholic beverages, beers, spirits, non-alcoholic beverages, household, chemicals, others) and region.
According to the latest FMI reports, based on regional growth, the Asia Pacific excluding Japan (APEJ) region is predicted to exhibit lucrative market opportunities for the steel containers market during the forecast period. This presentation is attributed to the presence of emerging economies, increasing disposable income, and robust growth of food, beverage, and chemical industries in this region. Moreover, the market is expected to be dominated by ASEAN countries. India, too, is likely to display a noteworthy growth rate. However, China is likely to lead in terms of steel container market share.
North America will account for a major portion of the market with a high growth rate in the steel containers market. The constant expansion of end-use industries is predicted to generate substantial demand for steel containers. This will bolster the regional market growth. With the U.S. likely controlling a large share of the market, Canada is expected to register the highest growth rates in the steel containers market.
With the accelerated expansion of the chemical, beverage, and food industries in Western Europe and the escalating demand for storage and shipping of these products, Western Europe's steel containers market is expected to grow steadily during the forecast period.
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Key Segments Profiled in the Steel Containers Market
2.2. Market Definition / Scope / Limitations
Explore FMI’s Extensive Coverage on Packaging Domain
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Strapping Tapes Market Forecast: The strapping tapes market is poised to witness a moderate CAGR of 4.4% during the years 2022 to 2032.
Bottle Filling Machines Market Analysis: Registering a year-on-year (Y-o-Y) growth rate of 4%, the global bottle filling machines market size reached around US$ 1.24 Bn in 2021 and is likely to touch a valuation of US$ 1.28 Bn in 2022.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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