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Aluminum Cans Market

Aluminum Cans Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Chemicals & Materials | Author Name: Harshad


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Preliminary research of Fairfield Market Research indicates a promising growth outlook for global aluminum cans market during the course of next few years.

Greater Recyclability Remains Key Driving Force for Aluminum Cans Market Growth

On the back of rising environmental concerns, end use industries are opting for sustainable packaging solutions to market their products. Moreover, recycled packaging is being mulled upon by companies to reduce carbon footprint. Additionally, awareness regarding environment health has resulted in consumers demanding for environment-friendly packaging solutions. As a result, the use of recycled material in packaging sector has increased considerably, thus giving an impetus to the demand for metals like aluminum in packaging, i.e., for the formats such as aluminum cans. Moreover, aluminum cans are 100% recyclable, thus making them an apt choice across various end use industries. In addition, as per Aluminum Association, the aluminum sector has been witnessing increasing use of recycled aluminum cans and the industry aims to achieve a higher recycling quotient by end of 2030. This factor remains crucial in driving the growth of the aluminum cans market.

Increasing Use in Beverages Sector to Complement Growth of Aluminum Cans Market

The beverage industry has been witnessing momentous growth since past couple of years and is expected to maintain status quo going forward. This factor is expected to influence the growth of the aluminum cans market on the global front. In addition, growing consumer inclination towards canned beverages is expected to fuel the demand for sustainable packaging solutions for beverages such as aluminum cans. Moreover, aluminum cans provide enhanced protection against moisture, light, and oxygen. That said aluminum cans have been widely used in food packaging, as well as packaging of beverages such as soft drinks, juices, coffee, and other non-alcoholic drinks. Furthermore, the superior recyclability of aluminum cans and high sustainability has further uplifted their adoption in the beverages industry. Moreover, aluminum cans are a much sought-after solution for packaging of alcoholic drinks such as beer. The growing production of beer backed by its increasing consumption is expected to pave potential avenues for the aluminum cans market worldwide.

North America All Set for Continued Dominance in Global Aluminum Cans Market

Geographically, North America is expected account for a significant revenue share in the aluminum cans market. This can be attributed towards rising inclination towards using sustainable packaging solutions backed by increasing number of aluminum providers in the region. For instance, according to the International Aluminum Institute (IAI), more than 65,250 Kt of aluminum was produced in 2020 at a daily production rate of around 178Kt. Considering the global aluminum production, around 3,976 Kt was produced in North America. As compared to 2019, the average daily production of aluminum grew by 2.29% and is expected to further increase in the forthcoming years.

Additionally, owing to its higher recycling rate, around two aluminum cans undergo recycling for every 3 cans shipped in the United States. Furthermore, in the United States, around 70% of the overall plastic collected especially for recycling purposes ends up in landfills. This has triggered a sense of awareness apropos to environmental concerns which in turn has resulted in increasing efforts to reduce carbon footprint through climate change control. This factor is indirectly giving an impetus to the growth of the aluminum cans market in the region owing to better recyclability of the element. Furthermore, owing to a significant increase in the consumption of non-alcoholic and alcoholic beverages such as sodas, carbonated drinks and beer, the demand for aluminum cans has increased considerably. For instance, as per Alcohol and Tobacco Tax and Trade Bureau, the quantity of beer manufactured in the United States in 2020 was approximately 180 million barrels. Also, brewers in United States use around 36 billion aluminum cans on an average every year. This factor remains instrumental in driving the demand for aluminum cans, in turn augmenting the growth of aluminum cans market in North America.

Aluminum Cans Market: Competitive Landscape

Key players in the aluminum cans market are focused on developing new sustainable products and other growth strategies such as acquisitions, capacity expansions, collaborations, and partnerships. For instance, in August 2021, Gores Holdings and Ardagh Metal Packaging concluded on a purpose acquisition to form a combined entity called Ardagh Metal Packaging SA. Through this alliance, significant growth opportunities are in the offing for the aluminum business in Europe and Americas. Same year in September, Ball Corporation established a new Beverage Can plant in the United States. The production line is expected to start in late 2022 and this capacity expansion is mainly to create 180 manufacturing jobs and serve the growing need for recyclable aluminum containers. In May 2021, beverage manufacturing company – VOLNAA – introduced aluminum cans that contain on-the-go packaged drinking water for its consumers.

In June 2022, Ball Corporation made an announcement regarding the global release of its new, eco-friendly aluminum aerosol can. This product can reduce the carbon footprint by almost half of the footprint of a regular can. This is in view of the company’s effort to meet its science-based targets by 2030 and achieve its net-zero emission target by 2050. Same year in September, Suntory Spirits of Tokyo introduced a 100% recycled aluminum can. Referred to as SOT (Stay on Tabs) Can is jointly developed by Tokyo Seikan Group and UACJ and emits around 60% less CO2 as compared to a standard aluminum can. On the other hand, backed by growing environment concerns and the trending use of sustainable packaging, in January 2022, Evian made available its Evian Sparkling beverage in aluminum bottles and cans that are manufactured completely through recycling of PET plastic. This is in view of the company’s aim set in 2018 to adopt sustainable packaging solution and reduce its carbon footprint.

A few of the major players in the aluminum cans market include Ball Corporation, CAN-PACK SA, Ardagh Group, Silgan Holdings Inc., Crown Holdings Inc., Casablanca Industries Pvt. Ltd., Amcor Plc, Toyo Seikan co. Ltd., and Kian Joo Can Factory Brand.

The Global Aluminum Cans Market is Segmented as Below:

By Product Type

  • 1-piece Cans
  • 2-piece Cans
  • 3-piece Cans

By Capacity

  • Up to 200ml
  • 201-450ml
  • 451-700ml
  • 701-1000ml
  • More than 1000ml

By Design Type

  • Sleek
  • Slim
  • Standard
  • Others

By End-use Industry

  • Food
    • Fruits and Vegetables
    • Ready-to-eat
    • Meat, Poultry, & Seafood
    • Pet Food
    • Bakery & Confectionery
    • Others
  • Beverages
    • Alcoholic
    • Non-alcoholic
  • Personal Care & Cosmetics
  • Pharmaceuticals
  • Paints & Lubricants

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Elements Included In The Study: Global Aluminum Cans Market

  • Aluminum Cans Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2021
  • Volume Consumption at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Production Output Analysis (Major Producing Regions)
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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