Global Metal Cans, Barrels, Drums and Pails Market to Reach US$107.7 Billion by 2030

The global market for Metal Cans, Barrels, Drums and Pails estimated at US$78.9 Billion in the year 2023, is expected to reach US$107.7 Billion by 2030, growing at a CAGR of 4.6% over the analysis period 2023-2030. Aluminum Metal Cans, one of the segments analyzed in the report, is expected to record a 4.9% CAGR and reach US$61.6 Billion by the end of the analysis period. Growth in the Steel Metal Cans segment is estimated at 4.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$20.9 Billion While China is Forecast to Grow at 6.8% CAGR

The Metal Cans, Barrels, Drums and Pails market in the U.S. is estimated at US$20.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$22.8 Billion by the year 2030 trailing a CAGR of 6.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.0% and 3.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.

Global Metal Cans, Barrels, Drums and Pail Market - Key Trends and Drivers Summarized

Metals cans represent a convenient, cost-friendly, safe and eco-friendly packaging option as foods and beverages in metal cans chill faster and remain cold for longer times than other packaging alternatives. Growth in the global market for metal cans, barrels, drums, and pails is led by the rising demand from the food and beverage industry, which heavily relies on these containers for packaging solutions, is a primary driver. Metal cans are preferred for their ability to preserve the quality and extend the shelf life of food products due to their durability and excellent barrier properties against light, air, and moisture. Additionally, the increase in beverage consumption, particularly of canned drinks, underlines the market`s expansion. This trend is bolstered by the growing consumer awareness towards sustainable packaging solutions, as metal cans are 100% recyclable and can be recycled indefinitely without loss of quality, aligning with global sustainability goals.

The chemicals and lubricants industry also significantly contributes to the demand for metal barrels, drums, and pails. These containers are essential for the safe and efficient transport and storage of industrial chemicals, solvents, oils, and lubricants, offering protection against contamination and leakage, thus ensuring safety standards are met. The robust nature of metal packaging is crucial in sectors where chemical compatibility and fire risk management are priorities. As industries continue to expand globally, including the paint and coatings industry and the automotive sector, the need for reliable and sturdy packaging solutions like metal drums and barrels is projected to rise accordingly.

Technological advancements in metal packaging production are setting trends in the market. Innovations aimed at reducing the weight of cans and improving the manufacturing efficiency are making metal packaging more competitive against alternatives like plastic and glass. Moreover, enhancements in decorative and protective coatings have not only improved the aesthetic appeal of metal cans but also their resistance to corrosion, further extending their usability in a broader range of products and environments. These improvements, coupled with ongoing efforts to reduce production costs and increase the sustainability of resources used, ensure that metal cans, barrels, drums, and pails remain an integral part of packaging solutions across various industries.