Drum Plugs Market Analysis

Drum Plugs Market - Dynamics          

The consistent demand for drums in various industries across the globe is likely to fuel the drum plugs market during the next decade. Drums used as a major packaging, storing and transportation of chemicals and various other products across the globe. This factor is a key driver in the growth of the global drum plugs market during the forecast period. Drum plugs offer secure and child-resistant packaging to the drums in case if they are filled with corrosive materials, hence prevent accidents occur due to spills. Drums are highly used in industries such as food, beverages, chemicals, and fertilizers which in turn drives the demand for the drum plugs. These are available in plastic as well as metal variants, depending on the application. Polyethylene drum plugs are self-gasketing required no additional gaskets, polyamide drum plugs have reinforced construction and are ideal for the petroleum-based products. Drum plugs are ideally used as a closure for almost all kind of drums and barrels.

Drum Plugs Market - Regional Outlook:

The rising chemical, petroleum, pharmaceutical, and other associated industries in Asian countries such as China, India, and Indonesia among others are expected to drive the demand for the drum plugs during the forecast period. Also, the continuously rising population and industrialization in the region is further fuels the demand in the region. The U.S. is home to some of the major oil and petroleum manufacturers and chemical industries in the world. This factor is anticipated to fuel the demand for drums which in turn drive the growth of drum plugs during the next decade. Countries in Latin America region including Brazil, Argentina, and Mexico are expected to witness static growth during the next decade. The European countries such as France, U.K., Spain, Italy, and Germany are some of the major countries following the same trend as that of the U.S. are expected to fuel the demand for drum plugs owing to their flourished chemical, oil, and automotive industries. In MEA, drum plugs are expected to witness high growth during the next decade owing to the high rate of cross-border trade.

Drum Plugs Market: Key Players

Some of the leading players operating in the global drum plugs market are:

• BASCO, Inc.
• Technocraft Industries India
• Grainger, Inc.
• Ammu Industries
• EBK Containers
• Packco Industries
• Tri-Sure

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Regions Included:

• North America
• Latin America
• Europe
• Middle East and Africa (MEA)
• East Asia
• South Asia
• Oceania