Jerry Cans Market Growth is Set to Exhibit CAGR of 4.30% from 2022 to 2030
Sep 22, 2022
The demand for protective solutions in industrial sectors has led to the demand for jerry cans in the chemical packaging and construction sector. The Jerry Cans Market to acquire a CAGR of 4.3 % and a USD value of 3.8 million in the forecast period by 2030.
The chemical industry is the major driver of the market. The global market has noticed substantial growth in the last decade, which will continue in the forecast period. The chemical industry manufactures various chemicals, such as industrial chemicals, petrochemicals, speciality chemicals, commodity chemicals, etc., which are hazardous. Therefore, these chemicals need protective and careful solutions. The jerry cans are the right product for these chemicals whose demand is flourishing in the sector. The increased transportation of raw materials is increasing, which is driving the market.
Before the pandemic hit, the manufacturing industries gained high momentum, driving the market’s growth. Due to the pandemic, disbalance was noticed in the market’s growth as the demand decreased. The outbreak of the virus has shown a negative influence on the market. The industrial sectors such as chemicals, oils and lubricants, automobiles, and many others remained closed.
In the present situation, the Jerry Cans Market aims to recover from the pandemic loss. The demand to increase massively among the industrial sectors to reach the estimated valuation.
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The segmentation analysis of Jerry Cans Market showcases its segments based on capacity, shape, material, manufacturing process, and end-user.
The capacity segment of the market is segmented into 20 litres, 30 litres, 40 litres, 50 litres, and others. The material segment is comprised of LDPE, HDPE, PP and PET.
The shape segment of the market is classified into round, square, stackable and others.
The manufacturing process comprises blow molding, injection molding and compression molding.
The end-user section of the market has major industrial sectors such as food & beverages, pharmaceuticals, chemicals, agrochemicals, oil and lubricants and others.
The Jerry Cans Market regional growth status showcases its tremendous growth in North American regions, the European Union, the Asia Pacific, the Middle East, and Africa.
The Asia Pacific region is showing a leading share rate among other regions. The region is enhanced because of the massive industrialisation and increased construction work. The manufacturing sector is also showing notable progress in China, and India, which is driving the regional market.
The North American countries are noticing a significant growth rate due to the higher utilisation of jerry cans for various purposes. Other regions show decent growth in the future forecast period.
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The major market players operating in the global market as identified by MRFR are Mauser Group B.V. (Netherlands), Scepter Canada Inc. (Canada), Schneider GmbH & Co.KG (Germany), Greif Inc. (US), Barrier Plastics, Inc (USA), Yates Steels Ltd (UK), Elkhart Plastics, Inc. (Indiana), WERIT Kunststoffwerke W. Denios AG (Germany), Parekhplast India Limited (India), and SCHÜTZ GmbH & Co. KGaA (Germany) among others.
- In August 2022, Jomar Corporation, an injection-blow molding machinery specialist, broadened its portfolio with extrusion blow machines addition from Automa by Magic in Italy. The company is an exclusive distributor in the U.S. and Canada. The Automa by Magic line has simple hydraulic machines, which are enhanced by the company’s new Uniko 2.0 PLC controls and software.
- In April 2020, Larsen & Toubro Limited accepted a contract to supply key gasification equipment from China’s Wuhan Engineering Ltd for its first coal gasification project in India.
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