Packaging Steel Market Trends and Forecast
The future of the global packaging steel market looks promising with opportunities in the food and logistic markets. The global packaging steel market is expected to grow with a CAGR of 2.8% from 2024 to 2030. The major drivers for this market are growing preference for packaging materials that are recyclable and offer a low environmental footprint, surge in online shopping and home delivery services, and advancements in manufacturing processes and packaging design.
• Lucintel forecasts that tinplate is expected to witness the highest growth over the forecast period.
• Within this market, food is expected to witness the higher growth.
• APAC is expected to witness highest growth over the forecast period.
United States - Major steel packaging companies like Crown Holdings Inc. announced initiatives to enhance sustainability, aiming to achieve ambitious targets of reducing carbon emissions and increasing recyclability. Government support through grants for research into eco-friendly packaging materials further propels innovation in the sector.
China - With a surge in e-commerce, Chinese steel packaging firms such as Ma Steel Packaging Co. are ramping up production capacities to meet the growing demand for durable and secure packaging solutions. The governmentÄX%$%Xs focus on reducing environmental impact aligns with industry efforts toward sustainability.
Germany - Companies like Thyssenkrupp Packaging Steel GmbH are investing in advanced manufacturing technologies to streamline production and reduce carbon footprint. Government initiatives to promote circular economy models and stringent recycling regulations incentivize steel packaging firms to enhance recyclability and efficiency.
India - Tata Steel Packaging has set ambitious targets to increase the usage of recycled steel in packaging, aligning with the governmentÄX%$%Xs push for sustainable materials. Collaborations between industry players and governmental bodies aim to develop infrastructure for efficient collection and recycling of steel packaging waste.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Packaging Steel by Segment
The study includes a forecast for the global packaging steel by type, application, and region.
Packaging Steel Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Tinplate
• Tin-Free Steels
• Blackplate
• Others
Packaging Steel Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Food
• Logistics
• Others
Packaging Steel Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Packaging Steel Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies packaging steel companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the packaging steel companies profiled in this report include-
• Thyssenkrupp
• Arcelormittal
• United States Steel Corporation
• Nefab
• Maroon
• U. S. Steel Košice
• S.R.O.
Recent Development in the Packaging Steel Market
Crown Holdings: Crown Holdings announced the development of new sustainable packaging solutions utilizing steel, focusing on reducing environmental impact through lightweighting and recyclability improvements.
ArcelorMittal Packaging: ArcelorMittal Packaging introduced innovative steel packaging designs tailored for the e-commerce sector, enhancing product protection and consumer convenience while minimizing waste.
Tata Steel Packaging: Tata Steel Packaging launched a comprehensive sustainability strategy, aiming to achieve carbon-neutral packaging production by investing in renewable energy sources and implementing circular economy principles.
Thyssenkrupp Packaging Steel GmbH: Thyssenkrupp Packaging Steel GmbH unveiled advancements in steel packaging coatings, enhancing corrosion resistance and prolonging shelf life for packaged goods, catering to stringent quality standards in the food and beverage industry.
Features of the Global Packaging Steel Market
Market Size Estimates: Packaging steel market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Packaging steel market size by type, application, and region in terms of value ($B).
Regional Analysis: Packaging steel market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the packaging steel market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the packaging steel market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for packaging steel market?
Answer: The global packaging steel market is expected to grow with a CAGR of 2.8% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the packaging steel market?
Answer: The major drivers for this market are growing preference for packaging materials that are recyclable and offer a low environmental footprint, surge in online shopping and home delivery services, and advancements in manufacturing processes and packaging design.
Q3. What are the major segments for packaging steel market?
Answer: The future of the global packaging steel market looks promising with opportunities in the food and logistic markets.
Q4. Who are the key packaging steel market companies?
Answer: Some of the key packaging steel companies are as follows:
• Thyssenkrupp
• Arcelormittal
• United States Steel Corporation
• Nefab
• Maroon
• U. S. Steel Košice
• S.R.O.
Q5. Which packaging steel market segment will be the largest in future?
Answer: Lucintel forecasts that tinplate is expected to witness the highest growth over the forecast period.
Q6. In packaging steel market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the packaging steel market by type (tinplate, tin-free steels, blackplate, and others), application (food, logistics, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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