LONDON--(BUSINESS WIRE)--The global jerrycans market is expected to post a CAGR of more than 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The chemical, pharmaceutical, petrochemical, and food and beverage industries are among the largest end-users of jerry cans. Factors such as the growing global population and rising urbanization have increased the demand for petrochemical and food and beverage products. Similarly, the increased production of shale gas has fueled the growth of the chemical industry. The growth of such end-user industries has significantly increased the demand for jerrycans, leading to market growth.
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As per Technavio, the increased focus on lightweight packaging will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global Jerrycans Market: Increased Focus on Lightweight Packaging
Vendors in the market are focusing on redesigning jerrycans to reduce their weight and offer higher customer convenience. Lightweight jerrycans help end-user industries in reducing the costs of packaging and transport, thereby making the whole production process more sustainable. The growing popularity of lightweight jerrycans is expected to boost the growth of the market during the forecast period.
“Growing demand for sustainable packaging and increasing demand for customized jerrycans will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Jerrycans Market: Segmentation Analysis
This market report segments the global jerrycans market by material (plastic and steel) and geography (Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by EMEA and the Americas, respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the rising demand for lubricants, automobile fuel, and cooking oil in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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