The pails market is expected to grow at a 4.3 percent CAGR between 2022 and 2032, according to Future Market Insights (FMI). By the end of the assessment period, pail sales are expected to total US$ 2.91 billion. The worldwide pails market is predicted to grow in a favourable environment due to increased demand for plastic pails.
Paints and coatings, industrial chemicals, petroleum, lubricants, cleaning solvents, adhesives, food and beverages, agriculture, and related industries all use plastic pails as a key packaging material because they are economical, lightweight, and long-lasting.
In 2022, the market for pails is estimated to exceed US$ 1.91 billion. Plastic pails’ capacity to suit numerous needs in many industries, such as storage, transportation, and dispensing, is one of the key growth factors driving demand. Pails, for example, are employed in the chemical industry as a container with an airtight top to prevent spills during liquid product transportation.
Plastic pails are particularly appropriate for storing agricultural fertiliser due to their non-corrosive nature, so the market stands to benefit considerably from the agriculture industry. Another reason driving demand for pails is their use in professional painting operations, where they can be utilised to transport big loads safely around a job site.
The most important takeaways from the Pails market
- For delivering solid and liquid bulk commodities, several industries, such as chemical and pharmaceutical, need lightweight, resilient, and low-cost packaging options. The pails market is predicted to grow at a CAGR of 4.3 percent.
- Throughout the forecast period, China is predicted to dominate the worldwide pails market, with a market share of roughly 20%.
- During the forecast period, the India pails market is expected to grow at a CAGR of 6.1 percent.
- The paints and coatings industry will continue to be the largest end user of pails.
- Within the worldwide pails market, plastic pails are predicted to generate the most revenue.
Manufacturers of pails are utilising their in-house research and development resources to create products that address specific client needs, such as smooth plastic pail surfaces and printability. This will allow brand owners to sell their products by increasing storage capacity and shelf life, as well as improving product appeal.
Manufacturers’ demand for recyclable materials in packaging will undoubtedly rise in the coming years. Manufacturers are selecting for product choices that are environmentally friendly and meet packaging criteria as businesses take responsibility for long-term growth. In the coming years, this is projected to increase demand for pails.
As the market becomes more competitive, market players are expected to focus on a variety of methods in order to acquire a competitive advantage. According to a principal analyst at FMI, “recent trends indicate that pail manufacturers are using strategic collaborations and acquisitions as primary approaches to grow their regional footprint and product.”
The Pails market is primarily driven by paints and coatings.
The surge in demand for leakage-proof packaging of chemicals and paint supplies, according to FMI, is the key factor driving sales in the paint and coating business. In order to reduce transportation expenses, the business is also putting a lot of emphasis on lightweight transportation. As a result, pails are an excellent packing choice for storing and transporting bulk commodities without adding too much weight to the vehicle.
Due to increased architectural and infrastructure development in many countries, the market for paint buckets is rapidly developing. The increased focus on commercial development activities, such as malls, restaurants, and offices, has resulted in increased paint spending. This is projected to offer a favourable
The Market for Pails
Some of the leading market players include Greif Inc., Mauser Group N.V., Rieke Corporation, Berry Global Inc., M&M Industries Inc., Involvement Packaging Ltd., IPL Plastics, Inc., Plast Service Pack Company, Jokey Plastic Wipperfürth GmbH, Corcoran Products, Pro-Western Plastics Ltd, Involvement Packaging Ltd., Affordable Plastics Llc,,Viscount Plastics Ltd, Northern Container, and United States Plastic Corp
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