Global Utility Cans Market: An Overview
Utility cans, also known as solvent cans in the market, are usually used for solved-based products. Utility cans are used for wide range of applications such as solvents, adhesives, rubber cements, primers, and cleaners, among others. In keeping with the range of requirements in the market, utility cans are available in a variety of sizes. Furthermore, to enable a high degree of customizability, full decoration can be done on utility cans to stand out on shelves. Hence, most manufacturers make full lithography available for bodies. It has been observed that many manufacturers market their utility cans as fully recyclable. Therefore, utility cans are anticipated to face sizeable demand during the forecast period, owing to growing efforts to adopt eco-friendly packaging. The outlook for growth of the global utility cans market is expected to remain largely positive during the forecast period.
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Global Utility Cans Market: Dynamics
The global utility cans market is expected to grow on the backdrop of growth of the chemical industry. One of the key factors leading to growth in preference for utility cans is their customizability. Utility cans are available in the market in a wide range of neck finishes, and can further be decorated with high quality printing on the entire body. The tops of utility cans are made of a solderless, one-piece construction, while beaded quarts can be obtained for products which need special filling and handling requirements. Growing demand for products such as erasable pens is expected to boost demand for rubber cement. Utility cans are one of the most common storage solutions for erasable fluids. The global utility cans market currently has a moderate to low threat of substitutes.
There is high demand for packaging and storage solutions which are manufactured from sustainable materials. Therefore, utility cans are expected to gain traction over their plastic alternative currently available in the market. Furthermore, the Asia Pacific region provides lucrative opportunities for growth of the global utility cans market during the forecast period. The utility cans market is characterized by the presence of a large number of small-scale manufacturers scattered across the globe, with China being at the forefront in terms of number of participants. The intensity of competition in the utility cans market is expected to be high, with several Chinese manufacturers producing and marketing their utility cans at competitive prices than their western counterparts.
Global Utility Cans Market: Segmentation
The global utility cans market is segmented as follows –
On the basis of material type, the global utility cans market is segmented into –
On the basis of capacity, the global utility cans market is segmented into –
- < 4 Oz.
- 4 – 8 Oz.
- 8 – 16 Oz.
- 16 – 32 Oz.
- > 32 Oz.
Global Utility Cans Market: Regional Outlook
The North America utility cans market is expected to be in the leading role during the forecast period, owing to the large chemical industry, of which, the U.S. utility cans market is estimated to account for nearly 90%, in 2018. In the Asia Pacific region, countries like India and China are expected to generate greater demand for utility cans over the coming years. China is projected to outpace rest of the Asia Pacific countries in terms of utility cans market growth during the forecast period. The Latin America utility cans market is projected to witness sluggish growth till the 20s, after which, the outlook for growth of the Latin America utility cans market is expected to be positive.