Composite Cans Market – What Factors Will Drive The Business In Upcoming Years

Composite cans are typically cylindrical shaped paper tube with multi-layers of Kraft paper that are spiraled and convoluted with the help of linear draw winding method. Other method for manufacturing composite cans include diagonally winding and adding multiple layers of material. Benefits of composite cans include cost-effectiveness, environmental safety and higher durability. Composite cans are environmental-friendly in nature. Factors such as development of child-resistant and tamper evident dispenser tops are expected to boost industry growth over the coming years.

North America currently holds major share in market, owing to rising R&D activities and increasing approval rate for use of composite cans as bio-degradable material. Major players dominating the global market include Sonoco Products Co., Amcor Ltd., Smurfit Kappa, Mondi Group, Ace Paper Tube, Irwin Packaging Pty Ltd., Halaspack Bt, Quality Container Co., Nagel Paper, Inc., and Corex Group.

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The report titled “Composite Cans Market Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global composite cans market. Furthermore, the report would reflect on the key developments, global & regional sales network, business strategies, security & exchange overview, research & development activities, production facilities, product portfolio, employee strength, and key executive, for all the players considered under the scope of study. For instance, Amcor reported revenues of US$ 9.3 Billion in 2018 and the segment and geographic analysis of the company indicates that Flexible is the dominating revenue segment of the company, with the North America being the major revenue generating region.

The composite cans market study takes into consideration market segmentation based on production type, closure type, can diameter, end use, and geography. Based on Production Type, the market is segmented into convolute winding, linear draw, and spiral winding. Based on closure type, the composite cans market is segmented into aluminum membrane, lids, paperboard ends, plastic membrane, lids, caps, plug, and snap on. Based on can diameter, the market is segmented into less than 50 mm, 50mm-100mm, and 100mm & above. Based on end use, the global composite cans market is segmented into food & beverage, agriculture, textiles and apparels, personal care & cosmetics, consumer & industrial goods, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Additionally, the study provides in-depth analysis of individual company considered under the scope of study with a focus on all operating business segment, and would identify the segment of the company focusing on composite cans. Further, market share of company in the global market would also be calculated. For instance, Carbon fiber manufacturer Toray Industries Inc. (Tokyo, Japan) announced on March 14 that it has reached an agreement with Koninklijke Ten Cate B.V. (KTC, Almelo, The Netherlands) to purchase all shares of its subsidiary TenCate Advanced Composites Holding B.V. (Morgan Hill, CA, US and Nijverdal, The Netherlands), a specialist in thermoplastic and thermoset prepreg manufacturing. Purchase price, according to a statement issued by Toray, is €930 million ($1.15 billion).

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The report study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the composite cans market companies. Furthermore, the global composite cans market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the composite cans business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global composite cans market. For instance, Amcor operates through three segments namely Flexibles, Rigid Plastics, and others. Moreover, the company offers composite cans under the Flexible packaging segment which generated a revenue of US$ 6.5 Bn in 2018.