Jerry Cans Market: Pin-Point Analysis For Changing Competitive Dynamics
Additionally, Jerry Cans are also available in several colors which depict different materials being stored. For example, red color depicts gasoline, yellow is for diesel and blue color donates kerosene. The continuous development and innovations is expected to drive the growth in the Jerry cans market. For instance, explosive safe Jerry cans is one such development. These type of cans are best suited for 2nd and 3rd class dangerous goods which not exceed density of 1.2kg.
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Jerry Cans Market Dynamics:
The global Jerry cans market is expected to witness a CAGR of around 3% during the forecast period primarily driven by the growth in the chemicals, oil and lubricant industry. Besides, features associated with jerry cans like the leak proof quality, moisture resistant factor, and odour less feature further accelerates the demand for the jerry cans market. The global Jerry cans market is expected to witness huge gains primarily due to recent innovations in the market which also meets the sustainability goals.
One such recent development is the introduction of DoubleGreen COEX Jerry can by Greif Inc. This type of Jerry can was one of the first sustainable multilayer 10-liter plastic can made from sugarcane which is a sustainable resource with a stackable design that eliminated the need for a carton during transport. It was also stated that the DoubleGreen COEX jerry can reduces CO2 emissions by approximately 220 tons annually and also saved approximately 112 tons of paper.
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However, there are certain government regulations that have to be fulfilled regarding jerry cans designs as these containers are used to transport chemicals and toxic materials. There are several performance standards for packaging for each type of dangerous goods. Different regulation and packaging standards across the various countries can prove to be a hindrance for the growth of the Jerry cans market.
Jerry Cans Market- Regional Outlook:
Geographically, the Jerry cans market can be segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA). North America is expected to witness a healthy growth in the Jerry cans market. While, the Asia Pacific region is expected to witness the maximum growth during the forecast period mainly driven by developing economies like India and China.
The growing GDP, increasing manufacturing activities and growth trends in the industrial sectors is driving the demand in these developing nations. MEA and Africa are also expected to experience an above average growth in the Jerry cans market.
Jerry Cans Market- Key Players:
Some of the leading players identified across the globe in the Jerry cans market are: Scepter Canada Inc., Mauser Group B.V., Greif Inc., Elkhart Plastics, Inc., Barrier Plastics, Inc., WERIT Kunststoffwerke W. Schneider GmbH & Co.KG, Denios AG and Others.
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