Global Industrial Drum Market, By Product Type (Steel Drum, Plastic Drum, and Fiber Drum Country), Capacity (Up to 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, Petroleum and Lubricants, Pharmaceuticals, and Other End Uses) - Industry Trends and Forecast to 2030.
Industrial Drum Market Analysis and Size
The global industrial drums market is a vital segment of industrial packaging, essential for the storage and transport of bulk materials and liquids. Characterized by cylindrical designs, durability, and versatility, industrial drums serve various industries globally. Their growth is driven by diverse applications, sustainability demands, and compliance with stringent regulations. Technological advancements have led to more efficient and user-friendly designs. While globalization and international trade boost demand, competition from alternative packaging solutions and economic volatility can pose challenges. The market's enduring appeal lies in its ability to meet evolving industry requirements while aligning with environmental and safety standards.
Data Bridge Market Research analyses that the global industrial drum market which was USD 11.72 billion in 2022, is expected to reach USD 22.26 billion by 2030, and is expected to undergo a CAGR of 7.7% during the forecast period of 2023 to 2030. “Steel drum” dominates the type segment of the global industrial drum market as they offer excellent durability, strength, and reusability, making them suitable for a wide range of industries, including chemicals, petroleum, and construction. They are preferred for the transportation of hazardous materials due to their robustness and compliance with safety regulations. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Industrial Drum Market Scope and Segmentation
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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 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Steel Drum, Plastic Drum, and Fiber Drum Country), Capacity (Up to 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, Petroleum and Lubricants, Pharmaceuticals, and Other End Uses)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, and the rest of Middle East and Africa
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Market Players Covered
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Greif (U.S.), TPL Plastech Ltd. (India), Balmer Lawrie and Co. Ltd (India), Time Technoplast Ltd (India)., Sicagen (India)., BWAY Corporation (U.S.), Schütz GmbH and Co. KGaA. (Germany), Eagle Manufacturing Company (U.S.), 3M (U.S), Orora Packaging Australia Pty Ltd (Australia), Industrial Container Services, (U.S.), Chicago Steel Container Corporation (U.S.), U.S. COEXCELL Inc (U.S.), NORTH COAST CONTAINER LLC. (U.S.), Rahway Steel Drum Company (U.S.), and General Steel Drum LLC (U.S)
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Market Opportunities
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Market Definition
Industrial drums, often referred to simply as "drums" in the context of industrial packaging, are cylindrical containers typically used for the storage and transportation of various bulk materials, liquids, powders, and solids. They are a common and versatile packaging solution used across a wide range of industries due to their durability and ease of handling. It is an industrial drum is a cylindrical hollow holder primarily used to deliver large amounts of freight. Paperboard (also known as fiber drum), steel, and even polymers can be used to make industrial drums. These drums are designed for transporting liquids, powders, and hazardous materials.
Global Industrial Drum Market Dynamics
Drivers
- Increasing Emphasis on Sustainability and Environmental Awareness
Rising environmental consciousness has prompted a shift towards sustainable packaging solutions. Industrial drums made from materials such as steel and plastic are favored for their durability and recyclability, aligning with eco-friendly initiatives.
- Rising Diverse Industry Applications
Industrial drums find application across a wide spectrum of industries, including chemicals, food and beverages, pharmaceuticals, construction, and more. Their versatility and adaptability ensure a consistent and diverse demand.
- Growing Industrialization and Urbanization
The ongoing process of industrialization and urbanization in emerging economies drives the demand for industrial drums. These containers are essential for storing and transporting goods efficiently within urban areas and from production centers to markets.
Opportunities
- Rising E-Commerce and Retail Growth
The proliferation of e-commerce platforms and the thriving retail sector have propelled the need for efficient packaging solutions. Industrial drums facilitate bulk shipments of goods, supporting the booming online and offline retail markets.
- Growing Technological Advancements
Ongoing innovations in drum design and materials result in more efficient, user-friendly, and cost-effective industrial drum
Restraints/ Challenges
- High Initial Costs
Industrial drums often require substantial initial investment for procurement, especially when customized or engineered to meet specific regulatory standards. This upfront cost can deter small and medium-sized enterprises (SMEs) and start-ups from adopting industrial drums, as they may opt for more budget-friendly alternatives.
- Limitations in Terms of Compatibility with Automation
As automation becomes increasingly prevalent in manufacturing and logistics, the manual handling of industrial drums can be a limitation. Industrial drums may not always integrate seamlessly into automated systems, leading to operational inefficiencies and the preference for automation-friendly packaging solutions.
- High Competition from Alternative Packaging Solutions
The industrial packaging sector faces intense competition from alternative packaging solutions such as bulk containers, flexi tanks, and intermediate bulk containers (IBCs). These alternatives often offer specific advantages, such as increased capacity or reduced transportation costs, which may divert demand away from traditional industrial drums.
- Additional Weight and Transportation Costs
Industrial drums can be heavy, significantly impacting transportation costs. High shipping costs for heavy drums can be a deterrent for companies, especially those involved in long-distance transport, encouraging them to seek lighter packaging alternatives.
This global industrial drum market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global industrial drum market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Development
- In February 2020, Greif has expanded its plastics business by introducing a new initiative on the US West Coast. Specifically, Greif is constructing a plastic drum blow molding machine at its facility located in Merced, California. This significant investment is poised to enhance the company's production capabilities in the region. The project is progressing, with expectations that the blow molder will become operational during the second quarter of the current year, bringing advanced plastic drum manufacturing technology to the forefront of the industry
Global Industrial Drum Market Scope
The global industrial drum market is segmented on the basis of product type, capacity, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Steel Drum
- Plastic Drum
- Fiber Drum Country
Capacity
- Up to 100 Liter
- 100 to 250 Liter
- 250 to 500 Liter
- Above 500 Liter
End-User
- Building and Construction
- Chemical and Fertilizers
- Food and Beverages
- Paints
- Inks and Dyes
- Petroleum and Lubricants
- Pharmaceuticals
- Other End Uses
Global Industrial Drum Market Regional Analysis/Insights
The global industrial drum market is analyzed and market size insights and trends are provided by product type, capacity, and end-user are referenced above.
The countries covered in the global industrial drum market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America in South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, and the rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, and the rest of Asia-Pacific in Asia-Pacific, and U.A.E, Saudi Arabia, Egypt, South Africa, Israel, and the rest of the Middle East and Africa in Middle East and Africa.
Asia-Pacific dominates the global industrial drum market due to the rapid economic growth, urbanization, and pivotal roles in global manufacturing and trade, along with increasing environmental awareness favoring sustainable packaging solutions.
North America is expected to witness the fastest growth during the forecast period 2023-2030 its diverse industries, strong manufacturing presence, significant population and consumption patterns, active role in international trade, and a growing emphasis on sustainability in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global 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 Global Industrial Drum Market Share Analysis
The global 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global industrial drum market.
Some of the major players operating in the global industrial drum market are:
- Greif (U.S.)
- TPL Plastech Ltd. (India)
- Balmer Lawrie and Co. Ltd (India)
- Time Technoplast Ltd (India)
- Sicagen (India)
- BWAY Corporation (U.S.)
- Schütz GmbH and Co. KGaA. (Germany)
- Eagle Manufacturing Company (U.S.)
- 3M (U.S)
- Orora Packaging Australia Pty Ltd (Australia)
- Industrial Container Services, (U.S.)
- Chicago Steel Container Corporation (U.S.)
- U.S. COEXCELL Inc (U.S.)
- NORTH COAST CONTAINER LLC. (U.S.)
- Rahway Steel Drum Company (U.S.)
- General Steel Drum LLC (U.S)
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