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SYNTHÈSE DU MARCHÉ

1.1 Definition and scope of the study

Metal packagings refer to steel and aluminium packagings, such as cans or tins, which preserve foods, hygiene products, beverages, etc.

The metal packaging market is divided into several players: mineral and petrochemical producers (bauxite, soda, carbon), suppliers (steel, aluminium), packaging producers, end users (industry, trade, transport-storage). In this study we cover the latter three categories. 

The global metal packaging industry is expanding in size and sales, amid the attractive features of metals in terms of durability, space efficiency, preservation, and recyclage. Nevertheless, metal packaging holds a fairly small share in overall packaging (12.2%), which implies that the material has great potential for expansion going forward. [all4pack] This development is most likely going to come from developing economies and Asia, where India for example is looking to increase usage of aluminium cans from 5% to some 25% in 2030.

North America is the world's largest metal packaging market. In particular, the United States, which makes up the largest share of North America's turnover, holds a significant share (around 13% in 2018). The nation came under pressure when President Donal Trump in 2018 imposed tariffs on steel and aluminium, which increased the price worldwide, and impacted local players. However, the price increase seemed to have been temporary and price levels are back to normal. 

The domestic market is one with great prospect provided by high company valuations of firms such as Ball and Crown. The two players are market leaders on the global stage, and supply nations and consumers worldwide. Moreover, M&S industry in the packaging industry has declined in 2020 amid COVID-19, but the US still boasts the highest deal flows in the world. In 2019 there were 75 deals (worth around US$2.13 billion).

 

1.2 The global market is in full bloom

The metal packaging industry is in full bloom; between **** and ****, the market is expected to grow at a CAGR of *.*% to reach US$ *** billion by ****.  

Global market size for metal packaging World, ****-****, in US$ billion Source: ****

Several factors are driving this demand. First, the intrinsic traits of metal packaging, including ...

1.3 Market analysis: the United States

North America, where the US makes up the most significant share, was the world's largest metal packaging market in ****. [***]

To estimate a market size, the turnover of two NAICS codes can be aggregated, namely Metal Can Manufacturing (***). From this, we add $US**,***,***,*** and $US*,***,***,*** which amounts to $US**,***,***,***. In ****, this represented ...

1.4 International Trade

This section analyses the trade of metal packaging products and related activities for the United States with global partners. In particular, three NAICS codes related to metal packaging are included in the scope, and are listed below: ****** - Metal Can Manufacturing ****** - Other Metal Container Manufacturing  ****** - Packaging Machinery Manufacturing   The ...

ANALYSE DE LA DEMANDE

2.1 Metal packaging's overall share is relatively low

In ****, the US packaging market was dominated by corrugated packages (***). 

Metal packaging made up a mere **% of all packaging, meaning there is huge upside potential to reap market share from alternative packaging materials. For instance, metals' intrinsic environmetal features should be marketed and presented as a better alternative.

US packaging market, ...

2.2 Investors' faith in metal packaging companies is strong

Packaging sector index breakdown United States, Q* ****, by number of companies in the index Source: ****

Out of ** companies in the index, metal and glass companies only make up three, where two are related to metal (***). 

However, of all ** companies in the index, Ball has the second highest EV/EBITDA (***) has a ...

STRUCTURE DU MARCHÉ

3.1 The supply chain of metal packaging

Source: ****

Raw material suppliers: Steel is made from iron. It is produced either through the Blast Furnace, made from iron ore and coal (***) which is made from recovered steel. Aluminium is made through two processes: either through the Bayer process of refining the bauxite ore to obtain aluminum oxide, or the ...

3.2 Production analysis

In the US, **.*% of the companies under NAICS *** (***) are private establishments. [***]

Between **** and **** the producer price index has increased continously. In this period, prices increased by some **% as can be seen below. It is important to note that this applies not only for metal packaging but metal manufacturing overall. Meanwhile, steel ...

3.3 Distribution

This section analyses three NAICS codes related to metal packaging, listed below:

****** - Metal Can Manufacturing [***] ****** - Other Metal Container Manufacturing [***] ****** - Packaging Machinery Manufacturing  [***]

Metal Can Manufacturing

In this sector there are *** companies and **,*** employees (***). Latest market size amounts to $**.** billion. 

According to NAICS the top companies in this ...

3.4 M&A activity

M&A volume US metal packaging industry United States, Q* ****-Q* ****, in number of deals and deal value (***) Source: ****

M&A activity in the metal packaging industry in the United States is relatively volatile on a quarter-on-quarter basis, and **** has thus proven to be a strong start to the year, with ...

ANALYSE DE L'OFFRE

4.1 Product Overview

Below is an overview of the product supply based on descriptions from metalpackagingeurope:

Aerosols: full UV protection and preservation features, which help prevent the ingress of moisture & oxygen. Product stays airtight through a sealable lid, and it has high functionality and durability. Beverage Cans & Bottles: can be adopted for all drinks. ...

4.2 Price Analysis

Import and export prices (***) United States & World, ****-**** (***), average yearly index value Source: ****

The graph above shows the export and import prices of Fabricated Metal Product Manufacturing (***). 

Between **** and **** both exports and imports have increased, with export prices increasing more relatively to imports. This spike in ****-**** can be devoted to ...

4.3 Impact of the Trade War on the US

In parallel to Donald Trump's inauguration, an international trade war commenced amid perceived injustices amongst the Americans in the global trade and tariff scene. 

The European Union was affected by this strategy as well, where steel in particular was idenitified as an economic pain point, and thus targeted. In March ** ****, the ...

4.4 Recycling

In the US ***,*** aluminum cans are recycled each minute — leading to an overall recycling rate of nearly ** percent, the highest recycling rate for any beverage container. Additionally, due to the infinite recyclability of aluminum, ** percent of all aluminum produced is still in circulation. [***]

Steel is also highly recyclable, with around **% of ...

RÈGLEMENTATION

5.1 Current Regulation

In the US, the FDA are responsible for issuing and communicating regulatory requirements within the framework of packaging. Several codes, norms, and laws can be included in this scope, amongst them:

Packaging and Labelling: the main points of consideration here are material examination and usage criteria, expiration dating, packaging and labelling ...

POSITIONNEMENT DES ACTEURS

6.1 Segmentation

  • CROWN PACKAGING MANUFACTURING UK LIMITED
  • BALL BEVERAGE PACKAGING AMEA LIMITED
  • Ardagh Group
  • Mauser USA
  • Industrial Container

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Etude de marché Etats-Unis

Etude de marché Etats-Unis

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Hugo S.

chargé d'études économiques, Xerfi

Hugo S.

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Mathieu Luinaud

Associate Consultant

Mathieu Luinaud

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Education Formation
Robin C.

PhD Industrial transformations

Robin C.

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Pierre D.

Analyst

Pierre D.

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Ross Alumni Club France

Arnaud W.

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Analyste de marché chez Businesscoot

Amaury de Balincourt

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Pierrick C.

Consultant

Pierrick C.

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Maelle V.

Project Finance Analyst, Consulting

Maelle V.

Héloise Fruchard

Etudiante en Double-Diplôme Ingénieur-Manager Centrale

Héloise Fruchard

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Imane E.

EDHEC

Imane E.

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Vincent D.

Auditeur

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Eva-Garance T.

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Michela G.

Market Research Analyst

Michela G.

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Azelie P.

Market Research Analyst @Businesscoot

Azelie P.

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Cantiane G.

Market Research Analyst @Businesscoot

Cantiane G.

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Jules D.

Consultant

Jules D.

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Alexia V.

Alexia V.

Emil Ohlsson

Emil Ohlsson

Anna O.

Anna O.

Gabriel S.

Gabriel S.