Industrial Drums Market Report

Market Insights

Industrial Drums Market is likely to grow from USD 12.75 billion in 2022 to USD 19.36 billion by 2028 at an impressive CAGR of 7.21% during the forecast period of 2022-2028.

What are industrial drums?

Industrial drums find a wide range of application for storage and transportation of materials for the delivery of mass freight and offer favourable features such as higher operational efficiency, cost-effective transport packaging solutions for shipment of both dangerous and non-dangerous materials such as chemicals, fruit juices, and wines.

Market Drivers

The excellent features offered by industrial drums such as higher operational efficiency and effectiveness in shipping bulk quantities of commodities in the form of liquid, their wide utilization for the packaging of chemicals and fertilizers, petroleum and lubricants, among others, and the growing cross-continent trade across the end-user industries are the major factors driving the growth of the industrial drums market during the forecast period.

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Segments' Analysis

Product Type

Based on the product type, the market is segmented as steel drums, plastic drums, and fiber drums. Steel drum product type is estimated to account for the largest share of the market during the forecast period owing to the increasing demand for chemicals and petroleum lubricants from various end-user industries and the excellent features offered by it, such as high strength, gas barrier properties, and superior processing performance. Factors such as its capability to be rolled into various thickness of the sheet, foil, rolling, sheet stamping, and welding made of different shapes and sizes of the packaging container, and its utilization as packaging solutions for transporting and storing hazardous goods are expected to fuel the product demand in the market over the forecast period.

By Region

In terms of regions, Asia-Pacific is estimated to be the fastest-growing region in the market with China, India, and Indonesia being the major countries with rapid evolution of manufacturing sector during the forecast period. Moreover, growing exports in vegetable oil and wines, and more preference given to industrial drums by the exporters in the regional market is expected to accelerate the growth of the market over the forecast period. Europe and North America are also expected to offer substantial growth opportunities during the forecast period. 

Market Scope & Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The industrial drums market is segmented into the following categories. 

By Product Type:

• Steel Drums
• Plastic Drums
• Fiber Drums

By End-User Industry Type:

• Food & Beverage
• Chemicals and Fertilizers
• Pharmaceuticals
• Petroleum and Lubricants
• Others

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Key Players

Some of the key players in the industrial drums market are-

• Balmer Lawrie & Co. Ltd.
• Eagle Manufacturing Company
• Greif Inc.
• Industrial Container Services LLC
• Mauser Group NV
• SCHÜTZ GmbH & Co. KGaA
• Sicagen India Ltd.
• Time Technoplast Ltd.
• TPL Plastech Ltd.
• U.S. Coexcell Inc.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by anyone of the product types by end-user industry type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.