Industrial Drums Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018–2026
Sarasota, FL -- (SBWIRE) -- 12/11/2018 -- Global Industrial Drums Market: Overview
An industrial drum is basically a hollow and round holder used particularly for the delivery of mass freight. Industrial drums are usually made up of steel, thick paperboard (fiber drum), and even plastics. Mostly, these drums are utilized for shipping powders and fluids. Industrial drums are frequently utilized for transporting unsafe items. The global popularity of the industrial drums market can be attributed to the growing global trade.
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Global Industrial Drums Market: Growth Factors
The major growth driver in the industrial drums market is the growing product demand among numerous end-user sectors, particularly by the manufacturers of materials chemicals and petroleum lubricants. Due to this, numerous key industrial packaging companies have either teamed up with local and international plastic packaging manufacturers. These players are mainly focusing on increasing their commodity range, to meet the high demands of several end-use industries. There are several infrastructure projects that are being initiated at the regional level for the incorporation of provincial infrastructure mainly in linking regions' financial system through shipping, energy, and telecommunication projects. The growing global trade is also contributing toward the expansion of industrial drums market on a global scale.
Global Industrial Drums Market: Segmentation
The industrial drums market has been classified based on product type, capacity, and end-user. By product type, the industrial drums market includes fiber drum, plastic drum, and steel drum. The plastic drums segment are likely to emerge as the most used industrial drums type in the upcoming years, due to their cost-effectiveness. By capacity, this global market includes more than 500 liters, between 250 and 500 liters, between 100 and 250 liters, and less than 100 liters. The end-user segment of the market for industrial drums comprises paints, inks, and dyes, building and construction, petroleum and lubricants, pharmaceuticals, chemicals and fertilizers, food and beverages, and others. The chemical and fertilizers segment is projected to emerge as the major end-user of this market and accounts for a major market share during the forecast timeframe. This is due to the increasing demand for fertilizers and chemicals from several vertical sectors.
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Global Industrial Drums Market: Regional Analysis
By region, the global industrial drums market is divided into Latin America, Asia Pacific, North America, the Middle East and Africa, and Europe. The Asia Pacific region is likely to witness a substantial growth rate in the industrial drums market, particularly for exporting wines and vegetable oil. Several oil exporters in the Southeast Asian region, which includes Malaysia and Indonesia, are likely to prefer industrial drums as compared to other bulk packaging products. Industrial drums are expected to offer high operational effectiveness and efficiency in shipping major bulk products' quantities in liquid form. The industrial drums market is expected to emerge as an economical transport packaging solution for delivery of other different non-hazardous components, such as fruit juices, wines, etc. The North American industrial drums market is likely to hold a major share in the forecast time period, owing to the growing chemical and fertilizers' demand by various vertical industries.
Global Industrial Drums Market: Competitive Players
Some of the most significant market players in the global industrial drums market are Sicagen India, Greif, Time Technoplast, Balmer Lawrie & Co., Mauser Group, Schutz Container Systems, TPL Plastech, Industrial Container Services, U.S. COEXCELL, and Eagle Manufacturing Company, among others.
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Global Industrial Drums Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa
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