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(MoneyNewsWire.Net, February 21, 2018 ) The volume of North America plastic bottles and containers market was estimated at 156.22 billion units in 2017, and it is expected to reach 204.3 billion units by 2023 at a CAGR of 4.6% during the forecast period (2018 - 2023).
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Plastic packaging has witnessed growing inclination from consumers over other products, as it is lightweight and easier to handle. Similarly, even major manufacturers prefer to use plastic packaging solutions, due to their lower cost of production. A wide variety of innovative, cost-effective, and sustainable packaging solutions have emerged in the market. The non-availability of raw materials has been a restraining factor for the industry, over the last decade. In North America, increasing awareness about environmental concerns over usage of plastic is the major constraint for the growth of the plastic industry. Many consumers in the United States and Canada are increasingly opting for environmental friendly packaging materials. As use of plastic and plastic products has potentially hazardous implications on the environment, governments in these countries have imposed very stringent rules and regulations in the industry, making it a relatively slow-growing industry, compared to other materials.
Gradual Shift from Steel to Plastic Fuel Tanks is Driving the Growth of this Market
The automotive industry has been using steel fuel tanks for a very long time. Though there have been issues, such as corrosion of steel tanks, failure of the tanks in cases of collisions, etc., the lack of a better alternative made them the only option. But with the advancement in technology, the steel tanks were replaced by plastic fuel tanks, which offer many advantages over the steel counterpart. The structural disadvantage of a steel tank compared to plastic fuel tanks, like a susceptible failure in case of seam areas, is another factor driving the adoption of plastic tanks. North America is one of the largest user of plastic fuel tanks in the automotive industry, with a penetration of 79%, this region is the second-largest consumer of plastic fuel tanks following Europe, which deploys 98% plastic tanks over metal. With the need for energy efficiency and safety, growing in the automotive industry, the adoption of plastic fuel tanks is expected to grow in the market. Plastic fuel tanks account for a large share of plastic containers in the automotive industry. Thus, the market will experience positive trend with the growing demand for plastic fuel tanks.
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Beverages to Dominate the Market
The beverages section includes alcoholic beverages, carbonated soft drinks, bottled water, fruit juices, energy & sports drinks, milk, and ready-to-drink coffee and tea. The extremely low penetration of the returnable form of bottle packaging in North America (below 5%), has led to increased demand for cheaper packaging solutions in the beverages industry, resulting in a substantial growth of North American plastics bottles and containers market. There is a significant market for the single use crushable bottles in the region, for bottled water and carbonated drinks packaging. However, its growth is challenged by the growing awareness related to the high environmental impact of such bottles.
Even the use of paperboard cartons, lined with low-density polyethylene, is increasingly being adopted for milk packaging, due to its non-returnable nature and low environmental impact. In addition, the small size of milk cartons compared to HDPE bottles, allows for a fresher product, further increasing its demand. These factors are expected to restrain the growth of plastic bottles and containers market in the beverages industry of North America.
Key Developments in the Market
• February 2017 - Graham Packaging provided design and engineering expertise to help Nestlé Waters launch a new hot-fill package, for their rebranded line of authentic tea products.
• January 2017 - Berry Plastics acquired AEP Industries Inc., in order to expand their breadth of product offerings, and also, to increase the production capacity of engineered materials division.
• December 2016 - Consolidated Container Company LLC acquired Denver-based Bottles Unlimited on undisclosed terms. Bottles Unlimited’s business and the facility will become part of CCC’s Beverage business unit.
• November 2016 - Amcor acquired the North American rigid plastics blow molding operations of Sonoco Products Company, a global packaging company based in the United States.
Major Players: ALPHA PACKAGING INC, CKS PACKAGING INC., CONSOLIDATED CONTAINER COMPANY LLC, PLASTIPAK HOLDINGS INC., GRAHAM PACKAGING COMPANY LP, COMAR LLC, AMCOR LIMITED, BERRY PLASTICS CORPORATION, ALPACK PLASTIC PACKAGING
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Reasons to Purchase this Report
• Examine the impact of the growing demand from the packaging industry on market in North America
• Analyze various perspectives of the market with the help of Porter’s five forces analysis
• The raw material and end-user vertical that are expected to dominate the market
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3 months analyst support, along with the Market Estimate sheet (in excel)
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