ID: MRFR/PNT/5131-HCR | February 2021 | Region: Global | 100 pages
Jerry cans market is expected to witness a CAGR of around 4.3% by 2023.
The jerry can is a container used to store liquids on a large scale. The Jerry Cans were initially designed in the 1930s for military usage to hold 20 liters of fuel. The current usage of Jerry cans has been continuously developing in terms of designs that require different funnels and various tools for dispensing. The jerry cans have become the perfect storage containers that are available in different materials and shapes.
Now, the jerry cans are available in different colors and shapes for different types of material. The colors of the Jerry Cans depict the type of material in the particular colored container. For example, red depict gasoline, blue is for kerosene and yellow donates diesel. Further, the continuous development and innovation of the jerry cans are developing the Jerry Cans Market and is expected to grow during the forecast period. Now some cans are explosive safe and are one of the developments in the Jerry can market. Such cans are used to carry 2nd and 3rd class dangerous goods that do not exceed the density of 1.2kg.
Below are the major key players in this Market:
Before the lockdown and pandemic hit the manufacturing and production industries, the Jerry Cans Market was gaining a lot of momentum. After the first lockdown wave, there was a disbalance in the market and the industries were also impacted so badly. The outbreak of the COVID 19 global pandemic has influenced the market so negatively. The most vulnerable areas of service owing to the adverse effects of coronavirus are chemicals, oils and lubricants, automobiles, and other many sectors.
The Covid 19 has both short and long-term impacts that lead to the crisis on the industry chain, especially on the market channels. The jerry can market has also seen a dip in the market share and the prolonged lockdown has made the situation worse for the consumers as well as producers. The volume value and the prices of the market have dipped during the pandemic. The main restraints were that the consumer is not active in the market and the production has been hampered and that too made it a problem at a global level and impacted the distributors and manufacturers. Several small-scale industries have landed during this time and have given a boost to the demands as well and now it is developing more amongst the local regions as well.
The growth of this has increased by the growth in the chemicals, oil, and lubricant-based industries. The increased demands for jerry cans in different industries are for various application usage such as packaging and storing the liquids. So, the jerry can is the best product that is efficient and provides damage-free storage and transportation. It is one of the factors that is driving the growth of the Jerry Cans Market.
The jerry cans have various advantages for the supply and transporting the liquids with features like the moisture-resistant factor, leakproof quality, and odorless traits that have accelerated the demand for jerry cans. These are the major drivers of the global market.
The jerry cans have to meet the desired goals as per the market standards and the innovations like manufacturing of multilayer 10-liter plastic cans that are made up of sugarcane and for transportation eliminates the need of cartons. The stackable design with such sustainable resource usage has raised the jerry cans usage in the entire market.
In most of the regions, the government rules and regulations for the packaging and design of the jerry cans have to follow the guidelines as the different countries. The transport of chemicals and toxic materials has different regulations and standards across the countries and that is certainly a restraining factor for the global market growth for jerry cans. Also, the growing usage of the products like flexi tanks is a hindrance in the market growth for the jerry can market.
The major challenge for the jerry cans market is to take care regarding the structure of the cans and produce a product that follows the regulations and the guidelines. The material density of the liquids has to be checked before using any type of Jerry can is one of the challenging factors.
The demand for jerry cans has increased in almost all the major sectors like Food and Beverages, Agricultural and industrial chemicals, and the lubricant and oil industries. The inclination towards the use of jerry cans with barrier coating will generate the maximum share in the Jerry cans market. It is expected that the growth will be enhanced up to 5 to 10% during the forecast cast period.
The global jerry cans market is segmented based on capacity, material, shape, manufacturing process, end-user, and region. The categorization of the segments for the jerry cans is related to each other. Everything has to be analyzed before the manufacturing of the final product.
Out of the above segmentation, the manufacturing segment is holding maximum shares in the global market. Based on the molding process, blow molding dominates the global market and is expected to grow at the highest CAGR during the forecast period. The risen demand for the transportation of oil, chemical, and other industrial products has driven the market growth. Along with this, for the petroleum and lubricants, it is expected that the Injection molding segment will contribute to growing market shares for the Jerry Cans Market.
|Market Size||2027: Significant Value|
|CAGR||4.3% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Molding Process, End Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Wilkinson Containers Ltd., SOTRALENTZ Packaging S.A.S., AST Kunststoffverarbeitung GmbH, Ipackchem Group SAS, DS Smith Plastics Ltd., California Plastic Products, Promens hf, Can-One Berhad, Time Technoplast Ltd., Parekhplast India Limited|
|Key Market Opportunities||New opportunities for business growth. Specific sugarcane, chemicals, oils and lubricants are packaged and transported|
|Key Market Drivers||Growing demand for moisture-resistant factor, leakproof quality, and odorless traits|
Frequently Asked Questions (FAQ) :
The global jerry cans market is recorded a substantial market valuation by 2023.
The global jerry cans market is projected to register a moderate 4.3% CAGR in the forecast period.
The blow molding segment is slated to expand as the fastest-growing segment.
The oil and gas segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global jerry cans market are Mauser Group B.V. (Netherlands), Scepter Canada Inc. (Canada), Parekhplast India Limited (India), Denios AG (Germany), among others.
By the Manufacturing process, Blow Molding is dominating the market.