GCC Region Industrial Drum Market, By Type (Plastic Drums, Steel Drums, Fiber Drums, and Salvage Drums), Product Type (Open Head and Tight Head), Capacity (Upto 100 Liter, 100 to 250 Liter, 250 to 500 Liter, and Above 500 Liter), End-User (Building and Construction, Chemical and Fertilizers, Food and Beverages, Paints, Inks, and Dyes, Crude Oil and Petroleum Products, Pharmaceuticals, and Others) Industry Trends and Forecast to 2030.
GCC Region Industrial Drum Market Analysis and Insights
The GCC region industrial drum market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 3.8% from 2023 to 2030 and is expected to reach USD 996,275.86 thousand by 2030. The major factor driving the growth of the industrial drum market is increased cross-continent trading among end-users.
Industrial drums commonly transport oils, fuels, chemicals, and many dry/liquid goods. The construction and performance of drums used for the shipment of hazardous materials. The growing demand for growing use for the storage of chemicals, petroleum, and others. The Availability of industrial drums according to customer specifications is expected to drive the market. The increased cross-continent trading among many end-users of petroleum, chemicals, fertilizers, and others in the GCC region has impacted the use of industrial drums for the cross-continent as the industrial is used to store the hazardous and non-hazardous chemicals and for other materials in the transportation of the materials.
The GCC region industrial drum market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, and technological innovations in the market. Contact us for an analyst brief to understand the analysis and the market scenario. Our team will help you create a revenue-impact solution to achieve your desired goal.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2020- 2015)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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By Type (Plastic Drums, Steel Drums, Fiber Drums, and Salvage Drums), Product Type (Open Head and Tight Head), Capacity (Upto 100 Liter, 100 to 250 Liter, 250 to 500 Liter, and Above 500 Liter), End-User (Building and Construction, Chemical and Fertilizers, Food and Beverages, Paints, Inks, and Dyes, Crude Oil and Petroleum Products, Pharmaceuticals, and Others).
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Countries Covered
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Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates.
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Market Players Covered
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Greif, Time Technoplast Ltd., DANA Group of Companies, Al Fujairah Steel Barrels and Drums L.L.C, Anglo American Steel L.L.C., Balmer Lawrie (UAE) LLC, Drum Express, Al Yamama Plastic Factory, PGTC Group, Al-Babtain Plastic & Insulation Materials Mfg. Co. ltd, Elan Incorporated FZE, VWR International, LLC., STARLINK Dubai LLC, INTC Steel Drums LLC, Emirates Plastic Industries Factory, and Clouds Drums Dubai LLC, among others.
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Market Definition
An industrial drum is a circular, hollow container used for large freight transportation. Plastic, steel, and fiber, among other materials, can be used to make industrial drums. The application determines the material utilized. Steel drums are utilized for chemical processing, whereas plastic drums are used for acidic materials. Fiber drums are used for solid materials. Industrial drums come in a variety of sizes. The 55-gallon drum, which has a capacity of 55 gallons, is the most often utilized drum size for transportation reasons. Oil and gas, petroleum, food and beverage, construction, manufacturing, agriculture, and other sectors use industrial drums.
GCC Region Industrial Drum Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Increased cross-continent trading among end-users
The increased cross-continent trading among many end-users of petroleum, chemicals, fertilizers, and others in the GCC region has impacted the use of industrial drums for the cross-continent as the industrial is used to store the hazardous and non-hazardous chemicals and for other materials in the transportation of the materials.
Industrial drums allow higher operational efficiency and effectiveness in shipping bulk quantities of commodities, especially in liquid form. Industrial drums also offer cost-effective transport packaging solutions for the shipment of hazardous and non-hazardous materials, like chemicals, wines, fruit juices, and others. They also offer high strength, gas barrier properties, and superior processing performance. The ease of shifting and the properties offered by the different industrial drum is the main reason for considering industrial drums for cross-continent trading.
- Growth in the use for the storage of chemicals, petroleum, and others
Industrial drums are very commonly used for the storage and transportation of non-hazardous as well as hazardous goods. The most common application of industrial drums is in petroleum, oils, fertilizer, and chemical industry end uses.
The steel drums are extensively used for packaging semi-solids, liquids, and powders. They are made from carbon or stainless steel material. Further, they can withstand an extreme range of pressure, temperatures, and humidity, while maintaining their structural integrity, irrespective of heat and flame, without any spillage or leakage. Also, it is less likely to implode when proper work conditions remain unaffected by the thermal shocks. They are available in various sizes based on the application required. Also, any food or drink should be stored in drum liners before being placed into a steel drum to avoid cross-contamination. The steel drums are used in chemicals, agriculture, petroleum and lubricants, paints, inks, and food and beverage applications.
Opportunities
- Strategic collaboration among companies for industrial drum
New technology has created less linear, more complex supply chains and, at the same time, opened up opportunities for manufacturers to access new markets. This can mean new product markets, additional locations overseas, or alternative customer segments. Strategic collaboration can be an effective tool for accelerating the new market entry process and making it run more smoothly. Strategic collaborations can provide the ability to enhance products and service offerings. This can help companies both attract new customers and keep existing customers happier.
Strategic alliances are a key part of business strategy for companies of all sizes and in every industry. Any strategic collaboration is made with the idea that new insights are needed for each partner from the other.
- Increase in the export of petroleum and other material
The UAE's exploration projects will create opportunities for Greenfield projects. UAE producers continue to test and implement new extraction technologies to raise recovery rates and prolong output. Unconventional oil and gas resources are of great interest to the UAE. One of the ways Gulf countries plan to extract maximum benefit from hydrocarbons is by catalyzing investment in downstream production and export capacity for petrochemicals and chemicals. Thus the increasing export of petroleum and other chemicals is expected to grow the demand for industrial drums for the shortage and transportation of petroleum and other chemicals.
Restraints/Challenges
- Stringent Government guidelines for industrial drum
The stringent regulations are technology-based national standards developed on an industry-by-industry basis. They represent the greatest pollutant reductions economically achievable for an industry. These limits are applied uniformly to facilities within the industry scope defined by the regulations, regardless of the condition of the water body receiving the discharge.
If one has stored hazardous substances such as cars or fuel oils inside the empty oil drums, they must be disposed of in a health and safety-compliant matter. After all, those rules protect the health of themselves, their employees, and anyone else who could come into contact with hazardous waste. The business owner must ensure that hazardous waste is handled correctly and safely.
- Volatility of raw material price
Raw materials frequently experience market volatility resulting from supply disruptions, pent-up demand, or significant price peaks and troughs. Commodity prices are highly volatile in markets. It is often blamed for these variations, but drum manufacturers will see that changes in supply and demand are the main determinants of commodity prices. High steel prices continue to present problems for steel drum producers.
The raw material for the industrial drum has been exported from different regions as there can be many reasons for the volatility in the price, such as the current Russia-Ukraine war may affect the price of some raw material used for the manufacturing of the industrial drums on the basics of which type of industrial drum the company is manufacturing. So, if the price of the raw material has been increased, the manufacturer may have to increase the final product's price.
Recent Developments
- In March 2022, The UAE's Steel Producers Committee held an urgent meeting to discuss the current developments within the local rebar market, where it affirmed the member's commitment to supply the UAE market with the necessary rebar requirements as well as maintaining market stability to support the construction sector and the economy respectively.
- In March 2022, according to PSU Connect Media Pvt. Ltd, India, pitches for Collaboration with GCC in the Steel sector. An interactive session on 'Steel Usage in UAE & Collaboration Opportunities for Indian Steel Sector' was held between key steel-producing companies from India and steel user companies of the UAE.
GCC Region Industrial Drum Market Scope
The GCC region industrial drum market is categorized based on type, product type, capacity, and end-user. The growth amongst four segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
BY TYPE
- PLASTIC DRUMS
- STEEL DRUMS
- FIBER DRUMS
- SALVAGE DRUMS
Based on type, the GCC region industrial drum market is classified into four segments plastic drums, steel drums, fiber drums, and salvage drums.
BY PRODUCT TYPE
- OPEN HEAD
- TIGHT HEAD
Based on product type, the GCC region industrial drum market is classified into two segments open head and tight head.
BY CAPACITY
- UP TO 100 LITER
- 100 TO 250 LITER
- 250 TO 500 LITER
- ABOVE 500 LITER
Based on capacity, the GCC region industrial drum market is classified into four segments Up to 100 liter, 100 to 250 liter, 250 to 500 liter, and above 500 liter.
BY END-USER
- BUILDING AND CONSTRUCTION
- CHEMICAL AND FERTILIZERS
- FOOD AND BEVERAGES
- PAINTS, INKS, AND DYES
- CRUDE OIL AND PETROLEUM PRODUCTS
- PHARMACEUTICALS
- OTHERS
Based on end-user, the GCC region industrial drum market is classified into six segments building and construction, chemical and fertilizers, food and beverages, paints, inks, and dyes, crude oil and petroleum products, pharmaceuticals, and others.
GCC Region Industrial Drum Market Regional Analysis/Insights
The GCC region industrial drum market is segmented based on type, product type, capacity, and end-user.
The countries in the GCC region industrial drum market are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates. Saudi Arabia is dominating the GCC region industrial drum market in terms of market share and market revenue due to an increase in demand for industrial drums for storage and transportation.
The country section of the report also provides individual market-impacting factors and market regulation changes that impact the market's current and future trends. Data point downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some pointers used to forecast the market scenario for individual countries. Also, the presence and Availability of GCC brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and GCC Region Industrial Drum Market Share Analysis
GCC region industrial drum market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies' focus related to the GCC region industrial drum market.
Some of the prominent participants operating in the GCC region industrial drum market are Greif, Time Technoplast Ltd., DANA Group of Companies, Al Fujairah Steel Barrels and Drums L.L.C, Anglo American Steel L.L.C., Balmer Lawrie (UAE) LLC, Drum Express, Al Yamama Plastic Factory, PGTC Group, Al-Babtain Plastic & Insulation Materials Mfg. Co. ltd, Elan Incorporated FZE, VWR International, LLC., STARLINK Dubai LLC, INTC Steel Drums LLC, Emirates Plastic Industries Factory, and Clouds Drums Dubai LLC, among others.
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