The key characteristics of aluminum utilized in canning packaging is tamper resistance, low weight, and amazing strength to bear liquid pressure. Probably the most attractive feature that has kept the aluminum cans market brimming with prospects are that they are ‘recyclable’. Over the years, numerous markets for aluminum cans emerged, driven by spurt in demand for recyclable as well as functional packaging.
Key end-use industries in the aluminum cans market are personal care and cosmetics, pharmaceuticals, and paints and coatings.
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Aluminum Cans Market: Competitive Analysis and Key Developments
The changing functional requirement of packaging and the emerging regulatory ecosystems in developing countries have been fueling notable developments in the aluminum cans market. The study takes a closer look at these developments and strives to assess their influence in shaping the competitive contours of the market and strategic initiatives by top players.
For long, manufacturers of mineral water have been utilizing plastic packaging. However, with plastic waste management rules getting strict in numerous economies, a conscious shift toward aluminum supplanting plastics is opening expanding opportunities in the aluminum cans market. A recent example is such an initiative taken by Fabonest Food and Beverages in India. The company has launched its natural water beverage in aluminum cans, considering that they are remarkably recyclable. The focus on sustainability of the player in the aluminum cans market has given aluminum as the natural successor of plastics, boosting demand.
Aluminum Cans Market: Key Trends
The worldwide drive for reducing the burgeoning plastics pollution is a key factor imparting large push to the adoption of aluminum in packaging. Regulatory push in various developing and developed economies around the world has spurred the uptake of aluminum cans in end-use industries, boosting the growth of the aluminum cans market. Two of the key aspects that propel groundswell of attention among food and beverages brands are the characteristics of aluminum to keep the products fresh, and their light weightiness. Over the years, brands in developing economies have come to realize the markedly attractive sustainable quotient of aluminum, thereby imparting a big momentum to the aluminum cans market.
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Over the years, producers of myriad products have harnessed the potential of aluminum for packaging, because of which the demand in the aluminum cans market heated up. More notably, the demand has gained impetus from the use of the material for paints and coatings industry. In addition, the growth of the market has gained substantially from the use of recycled materials from aluminum cans in transportation and construction industry.
Aluminum Cans Market: Regional Analysis
Of the various regions, North America and Europe have been lucrative markets. The concept of closed loop recycling in packaging has offered large steam to the expansion of demand in these markets. Moreover, numerous governments in these regions have been geared toward reducing the carbon footprint of packaging and hence looking for more sustainable options. This underpinned a big appetite for uptake of products in these regions for the growth of the aluminum cans market. On the other hand, Asia Pacific is emerging fast as an increasingly promising market, spurred by the growing focus of food and beverages brands to adopt ecologically and economically friendly packaging.