According to a research report by Stratview Research, Industrial Drums Market is likely to witness an impressive CAGR of 7.0% during the forecast period. 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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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.

Segments’ Analysis

Stratview Research has segmented the “Industrial Drums Market” by Product Type (Steel Drums, Plastic Drums, and Fiber Drums), by End-User Industry Type (Food & Beverage, Chemicals and Fertilizers, Pharmaceuticals, Petroleum and Lubricants, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)

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.

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.

The following are the key players in the Industrial Drums Market –

  • 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.

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