Global Paint Cans Market: Overview
As increase in construction is observed, it expected that the global paint cans market would grow at a steady pace. This will be owing to an increase in demand for paints. Another factor that would drive the market is wall décor. Here again, a demand for paint would drive market for cans. It comes as no surprise then that the paint cans market is set to grow at a modest CAGR (Compound Annual Growth Rate). This would translate to a considerable market worth by the end of 2027.
Global Paint Cans Market: Notable Development
Any market sees its future unfold in the way in which players shape its landscape. The competition and advancements, mergers and acquisitions, all determine the next step and the step further. It is not very different for global paint cans market.
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Over the decade one of the most game changing paint con innovation has been that of a Twist & Pour Paint Container. For this container, Dutch Boy also received mention in Brand Packaging Magazine’s “10 Best Packages of the Decade.” The idea addressed multiple concerns of storing, shelving, opening and pouring that were faced by users so far. It also corrected the one major mess that paint bottles, especially metal ones, created. Therefore, it comes as no surprise that it led to the market see the importance of providing easy-to–use designs.
The global paint cans market is fairly fragmented. Prominent names include Ardagh Group, Ball Corporation, RPC Group Plc., Silgan Containers LLC, Kian Joo Can Factory Berhad, Colep Portugal, S.A., BWAY Corporation (MAUSER Packaging Solutions), and National Can Industries Pty. Ltd.
Global Paint Cans Market: Key Trends and Drivers
The global paint cans market is in a steady growth phase. The trends and drivers it is set to witness over the forecast period of 2019 to 2027 will chart its growth. Some of the primary factors the market would experience are spelled out below.
- As per Global Construction 2030, a report sponsored by PwC, construction volume is set to increase by 86%, generating USD 15.5 trillion of market worth by 2030. Here, India, China and the United State with bite into 57% of all growth charted. As the volume rises, in the form of both commercial and residential real estate, so would the demand for paint. That would be a good booster to the paint cans market. Besides, with rising living standards, a result of strong economic growth in certain regions, a preference for wall décor is building up. That again is a growth propeller for the cans market.
- A trend is observed, particularly in developing nations to use paint as a protective coating against water and sun for walls, as well as metal fixtures. All this paint is often required in cans with high capacity. Thus, it is leading to positive growth in the global paint cans market. Besides, these nations build homes mainly using bricks and cement, making it a necessity to use paints as an uplifting and aesthetic coating.
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Global Paint Cans Market: Regional Analysis
The region that is set to show impressive growth is Asia Pacific. Major reasons behind the higher trajectory are significant urbanization, shift to nuclear families and steady growth of construction related activity. Among the countries in the region, China and India will register the notable growth, owing to strong economic growth Besides, the expansion of construction industry into Indonesia, Thailand, South Korea and Japan would also create opportunities for paint cans market. Therefore, it is only a logical consequence that manufacturers are eyeing the region to rightsize supply.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.