Jerrycans Market size to increase by USD 502.97 million from 2022 to 2027, Growing demand for jerrycans in lubricant packaging drives the market - Technavio

NEW YORK, Sept. 6, 2023 /PRNewswire/ -- The jerrycans market size is expected to grow by USD 502.97 million from 2022 to 2027. In addition, the growth momentum of the market will be progressing at a CAGR of 4.45% during the forecast period, according to Technavio. An increase in demand for jerrycans from end-user industries is notably driving the jerrycans market. However, factors such as volatility in raw material prices may impede market growth. The market is segmented by capacity (below 10 liters, 10-25 liters, and above 25 liters), material (plastic and steel), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request FREE Sample Report.

Growing demand for jerrycans in lubricant packaging is notably driving the market growth. Packaging solutions like drums, IBCs (Intermediate Bulk Containers), bottles, and jerrycans play a vital role in packaging automotive, industrial, marine, and aviation lubricants. Among these options, jerrycans offer a reliable and leak-free choice for storing and transporting lubricants. Their robust design ensures effective containment of lubricants, minimizing the risk of spills and leaks during handling and transit. Additionally, since lubricants can be corrosive and potentially damaging to certain materials, jerrycans are typically crafted from durable materials like HDPE (High-Density Polyethylene) or metal. This choice of materials provides resistance against corrosion and safeguards against harm caused by lubricants, ensuring the preservation of product quality. Given these attributes, the demand for jerrycans as a packaging solution for lubricants remains robust, making them a preferred choice for manufacturers in the lubricant industry. As a result, the global jerrycans market is anticipated to witness growth throughout the forecast period.

Jerrycans Market 2023-2027: Company Analysis

We provide a detailed analysis of 20 companies operating in the jerrycans market including 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., Mitsuchem Plast Ltd., Myers Industries Inc., P. Wilkinson Containers Ltd., SCHUTZ GmbH and Co. KGaA, Techno Packaging Industries, Unique Enterprises, Yates Steels Ltd., Interplastica Pvt. Ltd., and PAREKHPLAST India LTD.

• AST Kunststoffverarbeitung GmbH - The company offers jerrycans such as the AdBlue series. This report provides a full list of key companies, their strategies, and latest developments. Buy Now for detailed company information.

Jerrycans Market 2023-2027: Segmentation

• Material 

The below 10-litre segment is estimated to witness significant growth during the forecast period. Jerrycans, with a capacity below 10 liters offer a practical balance between retaining a significant volume of liquid and ensuring portability, making them a popular choice among individuals and small businesses. This capacity range is particularly favored by retailers who can sell liquids in smaller quantities, driving up the demand for these jerrycans as consumers show a preference for more manageable sizes for household use. The smaller-sized jerrycans cater to individual consumers requiring liquids in limited quantities for activities such as camping, hiking, picnics, and other outdoor pursuits. With the growing emphasis on environmental consciousness, the adoption of smaller jerrycans is also a means to reduce waste and minimize the impact of single-use plastics. As a result, the market for jerrycans with capacities below 10 liters is poised to witness growth during the forecast period.

• Geography  

APAC is estimated to contribute 42% to the growth of the global market during the forecast period.  Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View FREE PDF Sample Report

Challenge 

Volatility in raw material prices is a challenge that restricts the growth of the market. The price fluctuations of raw materials have a significant and proportional impact on the production costs of jerrycans. This introduces uncertainty for sellers, as their profit margins become less predictable. To mitigate such risks, many sellers opt for long-term contracts with raw material suppliers, which can also limit their negotiating power. The primary raw material for jerrycan production, steel, is extracted from iron ore, meaning that fluctuations in iron ore prices directly affect steel costs. Additionally, steel prices are influenced by factors like supply and demand dynamics and governmental policies. Moreover, the imposition of a 25% tariff on steel imports to the US, aimed at curbing the influx of inexpensive steel from China, has led to increased steel prices within the US. The volatility in crude oil prices also impacts the cost of polymer resins. Given that polymer resins are commonly used in the production of hard plastic jerrycans, fluctuating crude oil prices introduce uncertainty into suppliers' revenue projections. These factors collectively pose challenges for market players, which in turn can hinder the growth of the jerrycans market during the forecast period.

Jerrycans Market 2023-2027: Key Highlights

• Historic Market Size 2017-2021
• CAGR of the market during 2023-2027
• Detailed information on factors that will assist jerrycans market growth during the next five years
• Estimation of the composite rebar market size and its contribution to the parent market
• Forecasts on upcoming trends and changes in consumer behaviour
• The growth of the jerrycans market
• Analysis of the competitive landscape and detailed information on companies
• Comprehensive details of factors that will impede the growth of jerrycans market companies

Related Reports:

The metal cans market share is expected to increase to USD 7.59 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 2.64%. 

The aluminium cans market share is expected to increase by USD 8.85 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.84%.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Material

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

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.

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SOURCE Technavio