Industrial Drums Market Size, Share & Trends Analysis Report 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) and By Region (North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 20245-2033

Industrial Drums Market Growth Factors

Rapidly Expanding Manufacturing Sector to Drive the Market Growth

The industrial drums market’s most prominent driver is the rapidly expanding manufacturing sector as they extensively use industrial drums for packaging. Companies are focusing on delivering high-quality products with safe packaging. Moreover, the Hazard Analysis Critical Control Point (HACCP) works to prevent food fraud and microbiological, chemical, or physical contamination during transportation. Thus, the manufacturers prefer industrial drums for packaging in accordance with the HACCP. Recently, Schütz GmbH & Co. KGaA developed Schütz F1 industrial drum, which is in accordance with HACCP and FSSC 22000.

Rising Government Investments in Infrastructure Projects to Drive the Market Growth

Globally, several infrastructure projects are being initiated for the integration of transportation systems at the regional level. The governments of Malaysia, Vietnam, Thailand, and Indonesia are heavily investing in the construction of airports, high-speed railways, and ports to increase their economic growth.

Industrial drums are highly durable and reliable and are extensively used for transporting raw materials. In 2018, the government of Thailand announced to invest over USD 45 billion for the next five years to boost the construction activities in the country. In the U.S., the government is organizing several programs such as the Infrastructure for Rebuilding America Program (INFRA) to increase construction activities in the country, further driving the market growth. 

Regional Insights

Asia-Pacific leads the industrial drums market and will continue the same during the forecast period. The region is witnessing an increase in global exports of oil, palm oil, wine, and other liquid products, which is subsequently driving the demand for industrial drums across the region. In 2019, Asia accounted for almost 10% of the world’s oil production, and the region is home to leading oil-producing countries such as China, Indonesia, and India. Companies involved in intra-regional trade and exports are extensively using industrial drums for packaging for their impeccable properties.

In China, the government is channeling efforts to increase capital investment in oil production by 20%; currently, the country produces nearly 4 million barrels of oil per day. The Netherlands, India, and China are the leading producers of palm oil across the region. In 2017, Indonesia’s total export value of palm oil reached USD 18.2 billion. Industrial drums have emerged as a cost-effective solution for the transportation and packaging of liquid materials, further driving the demand for industrial drums.

Material Insights

Recyclable and Reusable Properties of Plastic Drums to Drive the Segment Growth

The plastic drum segment held the largest market share in 2019 and is expected to dominate the market during the forecast period. Plastic drums are rust-resistant and are easily available at lower costs. As per the statistics presented by the Plastic Drum Institute, over 500 million pounds of polyethylene are sold annually in North America. Shifting consumer preference towards sustainability has compelled manufacturers to adopt sustainable packaging solutions. In the U.S., over 18 million plastic drums were sold in 2017. Apart from this, plastic drums are recyclable and reusable, and provide ease of printing, further surging their demand across the industrial sector.

End-User Insights

Rapid Expansion of the Chemical and Pharmaceutical Industries to Drive the Market Growth

The chemical and pharmaceutical segment is projected to witness significant growth during the forecast period. Globally, it is paramount for industries to manage hazardous materials, considering environmental protection and safety. Thus, the rapid expansion of chemical and pharmaceutical industries across the globe is subsequently driving the demand for industrial drums. In 2018, Europe was the largest exporter of chemical products, with an export value of about USD 408 billion, up from USD 398 billion in 2017. Steel drums are extensively used for the transportation and storage of flammable and combustible liquids as they are versatile, eco-friendly, cost-efficient, and prevent leaks and spills.