Asia-Pacific to Dominate the Industrial Drums Market

Introduction

The industrial drums market is projected to grow at an exponential rate during the forecast period due to its wide application across industrial packaging. Industrial drums are considered as a quintessential solution for storing a large capacity of products and ease of transportation. The leading market players are actively working to improve the product design, variation, and performance to gain a competitive edge. Moreover, the industrial drums market is witnessing a transition of consumers from developed markets to developing markets.

The prominent players in the market are focusing on delivering industrial drums that are in compliance with the international standards and have the United Nations (UN) mark. Apart from this, the availability of drums with inner protective liners to protect a wide range of products such as inks, paints, glues, resins, and lubricating oils provides an impetus to the market growth.

Key Highlights

• The industrial drums market is expected to grow with a lucrative CAGR of xx% during the forecast period. Industrial drums are highly durable and can work under extreme weather conditions, further driving the market growth.
• The plastic drums segment dominates the market due to its cost-efficiency and recyclable nature.
• The chemical industry segment is estimated to grow at a significant rate of around 10–12% during the forecast period.
• Asia-Pacific is estimated to dominate the industrial drums market due to increasing trade activities.

Competitive Players

Key Players

• Greif, Inc
• Mauser Corporate GmbH
• Industrial Container Services
• Schütz GmbH & Co. KGaA
• Sicagen India Ltd.
• Balmer Lawrie & Co. Ltd.
• Time Technoplast Ltd.
• TPL Plastech Limited
• Eagle Manufacturing Company
• US Coexcell Inc. 

Recent Developments

Segmentation

Industrial Drums Market Segmentation

By Material

• Steel
• Plastic
• Fiber

By Size

• Up to 100 liters
• 101–250 liters
• 251–500 liters
• Above 500 liters

By End-User

• Building and construction
• Food and beverages
• Chemical and pharmaceutical
• Oil and lubricant
• Agriculture and horticulture

By Region

• North America
• Europe
• Asia-Pacific
• South America
• The Middle East and Africa