Yahoo Finanzas Jerrycans Market size is set to grow by USD 586.3 million from 2024-2028, Increase in demand for jerrycans from end-user industries boost the market, Technavio
NEW YORK, June 28, 2024 /PRNewswire/ -- The global jerrycans market size is estimated to grow by USD 586.3 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 4.93% during the forecast period. Increase in demand for jerrycans from end-user industries is driving market growth, with a trend towards increased focus on lightweight packaging. However, volatility in raw material prices poses a challenge. Key market players include AST Kunststoffverarbeitung GmbH, Barrier Plastics Inc., Berlin Packaging LLC, Berry Global Inc., BWAY Corp., Can One Berhad, DENIOS Ltd., Ganesh Corp., Ghansham Ice Box Manufacturers, Glow Packaging Pvt. Ltd., Greif Inc., Interplastica Pvt. Ltd., Mitsuchem Plast Ltd., Myers Industries Inc., P. Wilkinson Containers Ltd., PAREKHPLAST India LTD., SCHUTZ GmbH and Co. KGaA, Techno Packaging Industries, Unique Enterprises, and Yates Steels Ltd..
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Jerrycans Market Scope | |
Report Coverage | Details |
Base year | 2023 |
Historic period | 2018 - 2022 |
Forecast period | 2024-2028 |
Growth momentum & CAGR | Accelerate at a CAGR of 4.93% |
Market growth 2024-2028 | USD 586.3 million |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 4.45 |
Regional analysis | APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution | APAC at 41% |
Key countries | US, China, Japan, UK, and Germany |
Key companies profiled | AST Kunststoffverarbeitung GmbH, Barrier Plastics Inc., Berlin Packaging LLC, Berry Global Inc., BWAY Corp., Can One Berhad, DENIOS Ltd., Ganesh Corp., Ghansham Ice Box Manufacturers, Glow Packaging Pvt. Ltd., Greif Inc., Interplastica Pvt. Ltd., Mitsuchem Plast Ltd., Myers Industries Inc., P. Wilkinson Containers Ltd., PAREKHPLAST India LTD., SCHUTZ GmbH and Co. KGaA, Techno Packaging Industries, Unique Enterprises, and Yates Steels Ltd. |
Market Driver
The global jerrycans market is witnessing significant growth as vendors focus on redesigning jerrycans to reduce weight while maintaining quality. Innovative lightweight jerrycans, such as Baritainer by Barrier Plastics, offer improved sustainability and cost-efficiency. Weighing half that of conventional steel jerrycans, these squared jerrycans reduce truckloads and carbon emissions, making them an attractive option for end-user industries. The shift towards lightweight jerrycans is expected to continue, driving market expansion during the forecast period.
The Jerrycan market has seen significant growth in recent times with various players introducing innovative designs and capacities. The demand for jerrycans is high in industries such as oil and gas, agriculture, and water storage. Durability and resistance to harsh environments are key features sought after by buyers. The market is competitive with companies offering a range of sizes from 5 to 200 liters. Fuel-proof and lightweight jerrycans are trending due to their convenience and cost-effectiveness. Additionally, the use of advanced materials like polyethylene and metal has gained popularity for their durability and resistance to corrosion. Overall, the Jerrycan market is expected to continue its growth trajectory in the coming years.
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Market Challenges
The global jerrycans market faces challenges due to volatile raw material prices. Fluctuations in iron ore and crude oil prices directly impact the cost of steel and polymer resins, key materials in jerrycan manufacturing. Long-term contracts with suppliers help mitigate risks but reduce bargaining power. US tariffs on steel imports and crude oil price uncertainty increase production costs, threatening vendor profit margins and market growth.
The Jerrycan market faces several challenges in its operations. One significant challenge is the need for durable and reliable containers for storing and transporting various liquids. Another challenge is ensuring the cleanliness and hygiene of these containers to prevent contamination. Additionally, the market must comply with regulations regarding the use and disposal of Jerrycans. Furthermore, competition from other container types and increasing costs are also major challenges. Lastly, maintaining an adequate supply of Jerrycans to meet demand can be a challenge due to seasonal fluctuations and unpredictable market trends.
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Segment Overview
This jerrycans market report extensively covers market segmentation by
Capacity
1.1 Below 10 liters
1.2 10-25 liters
1.3 Above 25 liters
Material
2.1 Plastic
2.2 Steel
Geography
3.1 APAC
3.2 Europe
3.3 North America
3.4 Middle East and Africa
3.5 South America
1.1 Below 10 liters- The below 10-liter segment dominates the global jerrycans market due to its balance between capacity and portability. Retail businesses catering to smaller liquid quantities drive demand for these jerrycans. Individuals prefer them for outdoor activities and to minimize environmental impact. Thus, the demand for jerrycans under 10 liters is anticipated to grow significantly, contributing to market expansion.
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Research Analysis
The Jerrycans Market encompasses a wide range of containers, primarily used for storing and transporting various liquids, including food and beverages, agrochemicals, petrochemicals, specialty chemicals, commodity chemicals, dyes, pigments, printing inks, magazines, high-end coatings, and marine products. To cater to evolving market demands, traditional Jerrycans are being revamped with advanced features such as odorless storage, moisture resistance, and leakage prevention. Both Plastic and Metal Jerrycans are popular choices due to their lightweight and durability properties. The market for Jerrycans continues to grow, driven by the increasing need for efficient and reliable liquid storage solutions across diverse industries.
Market Research Overview
The Jerrycans Market encompasses a wide range of products and solutions, primarily focused on the storage and transportation of liquids. These containers, often made of plastic or metal, come in various sizes and shapes to cater to diverse industry requirements. The market witnesses significant demand from sectors such as agriculture, construction, and oil and gas, among others. Features such as durability, portability, and ease of use are key considerations for consumers in this market. Additionally, advancements in technology have led to the development of innovative Jerrycan designs, including those with integrated taps and stackable features, further enhancing their utility and convenience. Overall, the Jerrycans Market is a dynamic and evolving industry that continues to adapt to the changing needs of its customers.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Capacity
Material
Geography
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
