Europe High Density Polyethylene Jerrycan Market Size, Share & Trends Analysis Report By Capacity (10-25 L, Below 10 L), By End-use (Food & Beverages, Chemicals & Agrochemicals), And Segment Forecasts, 2020 - 2027
New York, Sept. 09, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe High Density Polyethylene Jerrycan Market Size, Share & Trends Analysis Report By Capacity, By End-use And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05965066/?utm_source=GNW
Europe High Density Polyethylene Jerrycan Market Growth & Trends
The Europe high density polyethylene jerrycan market size is expected to reach USD 2.3 billion by 2027 registering a CAGR of 4.6%. Increasing demand for convenient and durable packaging solutions is expected to drive the demand for high-density polyethylene (HDPE) jerrycans over the forecast period. HDPE jerrycans offer a less expensive packaging alternative to metal jerrycans, in addition to being rustproof and lighter in weight, which is anticipated to drive their demand. Furthermore, they are more durable and can be recycled easily.
These factors are also expected to make HDPE cans an eco-friendly packaging solution.HDPE containers are available in a wide range of volume capacities, thus, offering customers a choice over the size of packaging.
These cans offer a convenient option for the storage and transportation of a wide range of products, especially in remote and hilly areas. These cans also offer advantages such as stackability; however, they are only suitable for the storage and transportation of small or limited quantity of products.
On the other hand, industrial packaging solutions, such as Intermediate Bulk Containers (IBCs) and drums, offer several advantages owing to which, they can act as substitutes to HDPE cans, especially in the industrial sector.Growing demand for oil & gas coupled with increasing investments in various oil & gas projects is expected to have a positive impact on the market growth in Europe.
The demand for oil & gas in Europe is largely driven by industrial activities and economic recovery.
Rapid R&D activities coupled with the quick adoption of advanced technologies are expected to further bolster the product demand in Europe.One such major example includes the adoption of bioplastics in a wide array of applications to meet compliances set forth by various government and non-government agencies in different countries.
Key market players in the regional market mainly cater to the chemicals & agrochemicals, oil & gas, pharmaceuticals, and food & beverage industries.
Europe High Density Polyethylene Jerrycan Market Report Highlights
• The below 10 liters capacity segment is expected to account for the largest revenue share and also register the fastest CAGR of 5.1% from 2020 to 2027
• This growth can be credited to larger applicability scope of these containers, in both household and industrial use
• The chemicals & agrochemical end-use segment led the market accounting for over 35% of the overall share in 2019
• The market in Germany is expected to be the largest market while the U.K. is projected to register the fastest CAGR from 2020 to 2027
• Jerrycans were initially developed in Germany for military usage and were produced using pressed steel to hold around 20 liters of fuel
• However, owing to certain disadvantages, such as corrosion and heavyweight associated with metal containers, they are now widely manufactured using plastic materials, especially HDPE
Read the full report: https://www.reportlinker.com/p05965066/?utm_source=GNW
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