Download Sample, The Expansion of the Oil and Gas Industry Results in High Demand for Jerry Cans and Is Driving Market Growth
The market for Jerry cans saw an important spike as a result of the rising need for sanitizers brought on by COVID-19. Additionally, the market for these jerry cans has been given a new opportunity by the rising use of medical hygiene products. Liquid soaps and other necessary liquids needed in large quantities in the medical field are also transported in these cans. Jerry cans are in high demand because of their expanding usage and range of applications. Demand in a number of industries, including chemicals, food and beverage, and oil and gas, will be driven by industrialization, urbanization, and building booms in developing nations. Jerry cans are an appealing option because of their flexibility for bulk and safe liquid storage, as well as their reusability and recyclable nature.
Furthermore, jerry cans will be needed for storage and transportation due to the expanding oil and gas industry's concentration on exploration and production. In response, producers are creating inventive, strong, and lightweight jerry cans that adhere to strict government laws pertaining to hazardous materials. Because plastic is more affordable and has anti-corrosive qualities, it is the predominant material used in jerry. The design of Jerry cans is always changing, and characteristics like reduced weight, improved handling, and ergonomics attract new consumers and increase market share. Jerry cans that meet safety and quality standards are required by strict regulations controlling the movement and storage of liquids in several sectors.
Furthermore, jerry cans will be needed for storage and transportation due to the expanding oil and gas industry's concentration on exploration and production. In response, producers are creating inventive, strong, and lightweight jerry cans that adhere to strict government laws pertaining to hazardous materials. Because plastic is more affordable and has anti-corrosive qualities, it is the predominant material used in jerry. The design of Jerry cans is always changing, and characteristics like reduced weight, improved handling, and ergonomics attract new consumers and increase market share. Jerry cans that meet safety and quality standards are required by strict regulations controlling the movement and storage of liquids in several sectors.
Jerry Cans - an Innovation for Convenience and Waste Reduction
The demand for jerry cans is predicted to rise due to the growing usage of industrial drums for the transfer of liquids, including paints, inks, and dyes. One of the best packaging options for dangerous and acidic liquids is a jerry can. It is anticipated that the producers of jerry cans will have sufficient expansion prospects. Premium paints and coatings are essential in many high-tech applications, including the protection of marine, automotive, and building materials, this results in an increase in demand. Jerry cans are frequently used in sectors including construction, mining, and agriculture where dependable, long-lasting containers that can resist challenging circumstances are required.
The need for safe, hygienic jerry cans to store and transport necessities like sanitizers, disinfectants, and other cleaning supplies has increased as a result of the current pandemic's emphasis on the value of cleanliness and hygiene. Jerry cans composed of sustainable materials, like recycled materials and biodegradable plastics, are becoming more popular companies are looking for ways to decrease their impact on the environment. Fuel, oil, and other fluids are frequently stored and transported in the automotive sector using jerry cans. The need for jerry cans is rising along with the automobile industry. The market for flexible jerry cans is expected to rise as a result of the growing number of product improvements. Numerous product innovations aimed at improving the production and design processes are contributing to the growth of the market. Producers are developing jerry cans that are more dependable, effective, and portable.
The need for safe, hygienic jerry cans to store and transport necessities like sanitizers, disinfectants, and other cleaning supplies has increased as a result of the current pandemic's emphasis on the value of cleanliness and hygiene. Jerry cans composed of sustainable materials, like recycled materials and biodegradable plastics, are becoming more popular companies are looking for ways to decrease their impact on the environment. Fuel, oil, and other fluids are frequently stored and transported in the automotive sector using jerry cans. The need for jerry cans is rising along with the automobile industry. The market for flexible jerry cans is expected to rise as a result of the growing number of product improvements. Numerous product innovations aimed at improving the production and design processes are contributing to the growth of the market. Producers are developing jerry cans that are more dependable, effective, and portable.
Recent Trends in the Jerry Cans Market Industry
- Jerry cans are equipped with built-in features that enable real-time tracking of inventory levels, and product monitoring.
- Businesses are increasing their focus on lightweight packaging
- The market for lubricants and oil is expected to grow in the near future with a rise in auto sales, which will have an indirect impact on the jerry can market.
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Prices Factor a Major Resistant for The Broadening of The Jerry Can Market
Price volatility for raw materials is a problem that limits the market's expansion. The cost of making jerrycans is directly impacted by changes in the price of raw materials. Sellers are consequently apprehensive about their profit margins. They frequently select long-term contracts with raw material suppliers to avoid such risks, which weakens their negotiating position. Iron ore is mined to produce steel, which is the raw material needed to build jerrycans. Thus, changes in the price of iron ore will have an immediate effect on the price of steel. The price of steel is also influenced by government policy, supply, and demand.
Also, a 25% tariff on steel imports into the US has raised steel prices in the US by discouraging the import of inexpensive steel from China. The price of polymer resins has been impacted by the erratic rise in crude oil prices. Due to the widespread usage of polymer resins in the production of hard plastic jerrycans, suppliers' revenue streams are now more uncertain due to fluctuations in crude oil prices. These elements present difficulties for the industry participants, which will hinder the market's expansion throughout the course of the projection period. Because there are so many manufacturers, the jerry cans market is often fragmented, which has an impact on pricing and the dynamics of competition. Price competition among suppliers may have an effect on profit margins and product differentiation.
Also, a 25% tariff on steel imports into the US has raised steel prices in the US by discouraging the import of inexpensive steel from China. The price of polymer resins has been impacted by the erratic rise in crude oil prices. Due to the widespread usage of polymer resins in the production of hard plastic jerrycans, suppliers' revenue streams are now more uncertain due to fluctuations in crude oil prices. These elements present difficulties for the industry participants, which will hinder the market's expansion throughout the course of the projection period. Because there are so many manufacturers, the jerry cans market is often fragmented, which has an impact on pricing and the dynamics of competition. Price competition among suppliers may have an effect on profit margins and product differentiation.
Acquisition and Major Agreement Boosting the Growth of Jerry Cans
In May 2022, the publicly traded plastics processor Myers Industries Inc. expanded once more through acquisitions; at that time, it acquired a Decatur, Georgia, roto molding facility from Step2 Co. LLC. Myers stated that in order to better serve the outdoor recreation, construction, automotive, and industrial end sectors, it was still growing its roto molding capabilities in the United States. In June 2022, Vidrierías Pérez Campos, a Spanish company that provided glass packaging for the olive oil, home fragrance, and spirits markets, was bought by US-based packaging manufacturer Berlin Packaging. Through the acquisition, Vidrierías Pérez Campos' clients gained access to Berlin Packaging's "extensive" product line, and the company hoped to increase its market penetration in Iberia.
By strategically acquiring Vidrierías Pérez Campos, Berlin Packaging was able to provide coverage throughout southern Spain. In October 2021, an agreement was made by Schütz GmbH & Co. KGaA, a well-known producer of premium transport packaging, to acquire all of the shares of GEM Plastics Limited, an Irish company. It provided services to the food and beverage, pharmaceutical, lubricant, and chemical industries. Apart from standard plastic barrels and jerrycans, the extensive range of products offered tailored packaging options to meet the specific needs of clients.
By strategically acquiring Vidrierías Pérez Campos, Berlin Packaging was able to provide coverage throughout southern Spain. In October 2021, an agreement was made by Schütz GmbH & Co. KGaA, a well-known producer of premium transport packaging, to acquire all of the shares of GEM Plastics Limited, an Irish company. It provided services to the food and beverage, pharmaceutical, lubricant, and chemical industries. Apart from standard plastic barrels and jerrycans, the extensive range of products offered tailored packaging options to meet the specific needs of clients.
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North America will Remain a Promising Market for Jerry Cans Participants
Whenever it comes to market share for collapsible jerry cans throughout the projected period, North America is leading the way. This is because there is an increasing need for collapsible jerry cans in this area. The market for collapsible jerry cans is dominated by North America because of the expansion of the automotive and oil industries in this region. Due to the increasing demand for jerry cans from various sectors in the area, Asia-Pacific is also predicted to develop at the quickest rate throughout the forecast period. Asia Pacific's Jerry Can Market is expanding due to the region's fast industrialization, especially in the building and manufacturing sectors. Particularly in developing nations like China and India, this increase is strong. Jerry cans play a major role in the storage and transportation of chemicals and petrochemicals, which are in high demand due to this industrial boom. Asia Pacific is predicted to be the region with the most revenue from the sale of jerry cans as a result of all this expansion.
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The report provides a detailed overview of the Jerry cans market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the Jerry cans market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the Jerry cans market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which are anticipated to have a substantial impact on the growth of the jerry cans market. Some key countries and regions included in the Jerry cans market report are as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Singapore, Malaysia, Thailand, Vietnam, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Turkey, Morocco, Algeria, Israel, Iran, Iraq, Kenya, Ethiopia, Rest of MEA |
Jerry Cans Market Research Report Covers In-depth Analysis on:
- Jerry Cans market detailed segments and segment-wise market breakdown
- Jerry cans market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in Jerry cans industry)
- Current, historical, and forthcoming 10 years market valuation in terms of jerry cans market size (US$ Mn), volume (Tons), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Jerry Cans market demand analysis
- Jerry Cans market pricing analysis over the forecast period (by key segment and by region)
- Jerry cans market regional insights with the region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in the Jerry cans market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in the Jerry Cans market
- Jerry Cans market sales and distribution strategies
- A comprehensive overview of the parent market
- A detailed viewpoint on Jerry cans market forecast by countries
- Mergers and acquisitions in the Jerry cans market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key factors driving the growth of the jerry cans market?
The growing demand for packaging solutions in industries such as chemicals, automotive, and food & beverages is driving the expansion of the jerry cans market due to their durability and versatility.
Which regions dominate the global jerry cans market?
The Asia-Pacific region, including countries like China and India, leads the jerry cans market due to the increasing industrialization, demand from manufacturing sectors, and growing transportation and packaging needs.
What is the future outlook for the jerry cans market?
The future of the jerry cans market looks promising with the growing adoption of lightweight, eco-friendly, and high-performance packaging solutions across various sectors, supported by evolving consumer preferences for sustainable options.
