Jerry cans are common containers used for the storage of fuel, water, oil, chemicals, and other liquids. There are two types of jerry cans available in the market – metal and plastic jerry cans. Plastic jerry cans are highly preferred by end users, owing to properties such as high durability, lightweight, and less expensive as compared to metal jerry cans. Plastic jerry cans are more non-reactive to chemicals as compared to metal jerry cans, due to which, they are used for lubricant and chemical storage.
The global jerry cans market was valued at around US$ 2.8 Bn in 2018, and is estimated to reach US$ 4.6 Bn by 2027. In the global jerry cans market, is it estimated that plastic jerry cans account for around 80% of the market value. In terms of raw material, HDPE is most extensively used material for the manufacturing of plastic jerry cans. Due to the need for barrier coatings for the storage of chemicals and lubricants; manufacturers have started manufacturing coating jerry cans with ethyl vinyl alcohol or other layers such as polyamide. Opaque or pigmented HDPE plastic jerry cans ranging from 1 kg to 15 kg are used for edible oil packaging.
Manufacturers are Focusing on Sustainable Innovations for Plastic Jerry Cans
The increased intolerance for plastic use is expected to restrain the growth of the plastic jerry cans market. Due to this threat, manufacturers are focusing on research and development for using sustainable material for the manufacturing of plastic jerry cans. Grief Inc.’s Brazilian team developed one of the first sustainable multilayer 10-liter plastic jerry cans made from polyethylene resin derived from sugarcane. The company also developed 20 liter monolayer plastic jerry cans for agrochemicals, weighing less than 1 kg (980 g), to provide lightweight solutions to end users.
Asia Pacific is Anticipated to Witness Fast-Paced Growth in the Global Jerry Cans Market
Western Europe is estimated to be a prominent plastic jerry cans market, followed by Asia Pacific and North America. Since it is an industrialized country, Germany is anticipated to be the largest consumer of plastic jerry cans in the Western European market. Along with consumption, Western Europe is estimated to be a key manufacturer and supplier of plastic jerry cans to the world. High volume petroleum production and exports are attributed to be the key drivers for the growth of the Middle East & Africa plastic jerry cans market.
Due to the evolving industrialization trend, increased consumer spending, and improved production and exports of edible oil, countries such as China, India, and Indonesia are anticipated to be lucrative plastic jerry can markets in the Asia Pacific region. Asia Pacific is expected to be a very prominent plastic jerry cans market by the end of 2028. Foreign investments and government initiatives to improve industrialization are expected to play key roles in the growth of the Latin America plastic jerry cans market in the next five years.
This post was originally published on Crypto Journal