The global jerry can market is anticipated to witness a steady growth rate over the forecast period. Factors including rapid industrialization and urbanization coupled with rapidly growing manufacturing, and construction sectors, most notably in several developing countries across the globe are expected to boost the demand for jerry cans over the forecast period. In addition, the growing chemical, as well as the oil & gas industry is further expected to have a positive impact on market growth.
Jerry can is a robust container that was initially designed for military use to carry fuel. However, it is now widely used for the storage of a wide range of liquid products including fuel, oil, chemicals, and pharmaceuticals, among others. Increasing demand for energy in several developing countries across the globe is expected to benefit the oil & gas industry, thereby creating a significant demand for jerry cans in the foreseeable future.
Several global economies, as well as infrastructure development, is largely dependent on the oil & gas industry. In addition, countries such as Brazil, China, and Russia among others are further increasing their oil & gas production as well as exploration efforts. In addition, the ongoing shale oil exploration and production activities in the U.S. coupled with increasing oil exports from the U.S. are in turn likely to have a positive impact on market growth.
Jerry cans are widely used for carrying several dangerous goods including chemicals, as well as diesel and petrol fuels owing to which these cans have to adhere to several regulations and standards laid down by government organizations across different countries. Jerry can manufacturers are increasingly focusing on the development of jerry cans having innovative designs that are light in weight, thereby offering greater customer convenience which is further expected to have a positive impact on the market growth.
Based on material, the global jerry can market has been segmented into plastic and metal. Plastic based jerry can segment accounts for the largest share in the global jerry can market. Plastic being a lightweight, durable, corrosion-resistant, and chemically inert material is widely used for producing jerry cans of various shapes and sizes. High-density polyethylene is one of the most commonly used plastic material for manufacturing jerry cans.
High-density polyethylene is a comparatively low-cost material owing to which it is one of the most widely preferred materials across the packaging industry. In addition, it offers excellent resistance to most solvents and has a good low-temperature resistance. Furthermore, it exhibits a strong barrier against moisture. All these properties, in turn, make it ideal for manufacturing jerry cans. Some major players engaged in the production of high-density polyethylene include Borealis AG, LyondellBasell Industries Holdings B.V., and PetroChina Company Limited, among others.
Steel is another prominent material that is used for manufacturing jerry cans. However, the prices of various raw materials used for manufacturing jerry cans largely impact the prices of jerry cans. Thus, fluctuating raw material prices is further expected to act as a challenge for various jerry can manufacturers across the world.
Based on capacity, the global jerry can market has been classified as below 10 liters, 10 to 25 liters, and above 25 liters. The 10 to 25 liters capacity segment is anticipated to dominate the global jerry can market owing to the growing demand from chemical, petrochemical, and food & beverage industries among others. Jerry cans with a capacity below 10 liters are widely used for packaging smaller quantities of products such as agrochemicals, as well as household chemicals, among others.
On the basis of end-use, the global jerry can market has been segmented into oil & gas, chemicals, food & beverages, pharmaceuticals, and others. The oil & gas end-use segment is anticipated to hold a major share in the global jerry can market owing to the growing demand for various products such as petrol, and diesel, among others. Jerry cans are also used in the food & beverage industry for the transportation and storage of products such as water, juices, vegetable oils, and milk among others.
Based on the region, the market for jerry can have been bifurcated into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The Asia Pacific region is anticipated to have the highest growth rate over the forecast period. Rapid industrialization coupled with growing construction as well as the manufacturing sector notably in several developing countries such as China, and India, among others, are expected to fuel the demand for various chemicals, and petrochemicals which are in turn expected to benefit the market growth.
Some of the major players operating in the global jerry can market include SCHÜTZ GmbH & Co. KGaA, Greif, Time Technoplast Ltd., Yates Steels, Barrier Plastics, Inc., Berlin Packaging, Scepter, PT. Kadujaya Perkasa, Parekhplast India Limited, and BWAY Corporation, among others. These manufacturers offer a wide range of jerry cans having different shapes and capacities. Market players engaged in the manufacturing of jerry cans are adopting several competitive strategies including partnerships, mergers & acquisitions, and expansions, among others.
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The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for Covid19 as a key market contributor.