The industrial drum ecosystem in Korea is expected to expand at a CAGR of 6.0% through 2033. With a valuation of USD 839.2 million in 2023, the industrial drum in Korea is poised to grow significantly. According to estimates, the industry in Korea are expected to generate USD 1,535.2 million valuation by 2033.
As the chemical and fertilizer industries evolve, industrial drum manufacturers are continuously innovating. The development of drums with enhanced advanced materials, improved sealing mechanisms, and innovative designs are likely to enhance safety and efficiency.
Key Highlights to Understand Emerging and Fast-growing Opportunities
| Attributes | Details |
|---|---|
| Industry Size of Korea in 2023 | USD 839.2 million |
| Expected Industry Size of Korea by 2033 | USD 1,535.2 million |
| Forecasted CAGR between 2023 and 2033 | 6.0% |
Automobiles, shipbuilding, electronics, and petrochemicals are among the key industries in South Gyeongsang. Industrial drums are commonly used for storing and transporting various materials including chemicals, lubricants, and components.
Export-oriented economies play a predominant role in South Gyeongsang. The need for reliable and standardized industrial drums has become essential for packaging goods intended for export. The demand for industrial drum is increasing for the storage of materials like cement, asphalt, and roadwork chemicals in the growing infrastructure sector.
Regulations and safety standards related to environmental protection and safety also contribute to the factors that can drive an increased demand for industrial drums. Companies may require specialized drums to safely store and transport hazardous materials. The food and beverage industry utilizes industrial drums for the storage and transportation of a variety of materials, additives, and finished products.
The manufacturing industry in North Gyeongsang is robust, with a focus on electronics, automotive, and textiles. Materials, chemicals, and products from these industries are frequently transported and stored in industrial drums. The demand for industrial drums often affected by policies related to trade, manufacturing, and industry development. Different types of containers are likely to be required based on incentives or regulations. A convenient location near key ports and North Gyeongsang's involvement in international trade could also be significant. Shipping products often necessitates standardized and secure containers like industrial drums.
Industrial drums are frequently utilized in various industries for handling both raw materials and finished products. Industrial drums are often mandated by environmental regulations and safety standards for the safe storage and disposal of hazardous substances and pollutants. Ensuring compliance of these containers with the regulations can lead to a sustained demand for them. With ongoing economic development and growth, industrial drums are expected to become even more essential in the province as industrial activity continues to rise.
The excellent mechanical properties of steel drums, including high strength, superior gas barrier characteristics, and good processing characteristics, contribute to their widespread use. In 2023, steel drums dominated Korea's industrial drum industry, accounting for 74.70% of the industry share.
With the increasing use of petroleum and chemical lubricants across various industries and the improvement of supply chain capabilities, the demand for industrial metal drums is expected to rise. Steel drums are also widely utilized for packaging hazardous or dangerous goods.
While steel drums can be reused for a relatively long period, they eventually wear out and require replacement. This, coupled with the aging of existing drum inventories, can lead to fluctuations in the demand for new drums.
| Korea Industrial Drum Industry Based on Product | Steel Drum |
|---|---|
| Industry Share in 2023 | 74.70% |
Bulk quantities of fertilizers and chemicals are commonly produced and transported. Drums play an essential role in the supply chain as they offer a convenient and secure means of storing and transporting these products. The chemicals and fertilizers industry segment is expected to account for a revenue share of 44.40% in 2023.
With the population and agricultural activity on the rise in Korea, the need for fertilizers to enhance crop yields is increasing. Chemical industries are also expanding to meet both consumer and industrial demands. This growing production translates to an increased requirement for industrial drum in Korea to transport and store these products.
The chemicals and fertilizer industry is subject to heavy regulation to ensure safety and environmental standards are met. As a result of these regulations, industrial drums designed for handling hazardous materials have become even more crucial.
| Korea Industrial Drum Industry Based on End Use | Chemicals & Fertilizers |
|---|---|
| Industry Share in 2023 | 44.40% |
Many renowned companies manufacture industrial drum in Korea. By developing technologies and sustainable solutions, they assist other companies in growing. The purpose of startups is to compete with established firms by developing new solutions or investing in innovative technology. Startup companies offer unique opportunities to discover niche markets, reach underserved groups, and create new products. Key industrial drum manufacturers in Korea are provided below.
Recent Developments Observed in Korea’s Industrial Drum Industry
| Attributes | Details |
|---|---|
| Estimated Industry Size in 2023 | USD 839.2 million |
| Projected Industry Valuation by 2033 | USD 1,535.2 million |
| Value-based CAGR 2023 to 2033 | 6.0% |
| Historical Analysis of the Industrial Drum in Korea | 2018 to 2022 |
| Demand Forecast for Industrial Drum in Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of Key Factors Influencing Industrial Drum in Korea Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers |
| Key Cities Analyzed While Studying Opportunities in Industrial Drum in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled in the Industry Analysis of Industrial Drum in Korea | Sejin Container Co., Ltd.; Kukil Can Co., Ltd.; Saejin Container Co., Ltd.; Dong Yang Plastic Co., Ltd; Daeyang Industrial Co., Ltd.; Shinil Industrial Co., Ltd.; Woojin Industry Co., Ltd. |
The industrial drum industry in Korea is valued at USD 839.2 million in 2023.
Korea is projected to achieve industrial drum sales of USD 1,535.2 million by 2033.
Between 2023 and 2033, the adoption of industrial drum in Korea is expected to at a 6.0% CAGR.
The demand for steel drums is likely to dominate the industry in the coming years.
Table 1: Industry Analysis and Outlook Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Industry Analysis and Outlook Volume (Units) Forecast by Region, 2018 to 2033
Table 3: Industry Analysis and Outlook Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 4: Industry Analysis and Outlook Volume (Units) Forecast by Product Type, 2018 to 2033
Table 5: Industry Analysis and Outlook Value (US$ Million) Forecast by Capacity Type, 2018 to 2033
Table 6: Industry Analysis and Outlook Volume (Units) Forecast by Capacity Type, 2018 to 2033
Table 7: Industry Analysis and Outlook Value (US$ Million) Forecast by End Use, 2018 to 2033
Table 8: Industry Analysis and Outlook Volume (Units) Forecast by End Use, 2018 to 2033
Table 9: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 10: South Gyeongsang Industry Analysis and Outlook Volume (Units) Forecast by Product Type, 2018 to 2033
Table 11: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) Forecast by Capacity Type, 2018 to 2033
Table 12: South Gyeongsang Industry Analysis and Outlook Volume (Units) Forecast by Capacity Type, 2018 to 2033
Table 13: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) Forecast by End Use, 2018 to 2033
Table 14: South Gyeongsang Industry Analysis and Outlook Volume (Units) Forecast by End Use, 2018 to 2033
Table 15: North Jeolla Industry Analysis and Outlook Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 16: North Jeolla Industry Analysis and Outlook Volume (Units) Forecast by Product Type, 2018 to 2033
Table 17: North Jeolla Industry Analysis and Outlook Value (US$ Million) Forecast by Capacity Type, 2018 to 2033
Table 18: North Jeolla Industry Analysis and Outlook Volume (Units) Forecast by Capacity Type, 2018 to 2033
Table 19: North Jeolla Industry Analysis and Outlook Value (US$ Million) Forecast by End Use, 2018 to 2033
Table 20: North Jeolla Industry Analysis and Outlook Volume (Units) Forecast by End Use, 2018 to 2033
Table 21: South Jeolla Industry Analysis and Outlook Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 22: South Jeolla Industry Analysis and Outlook Volume (Units) Forecast by Product Type, 2018 to 2033
Table 23: South Jeolla Industry Analysis and Outlook Value (US$ Million) Forecast by Capacity Type, 2018 to 2033
Table 24: South Jeolla Industry Analysis and Outlook Volume (Units) Forecast by Capacity Type, 2018 to 2033
Table 25: South Jeolla Industry Analysis and Outlook Value (US$ Million) Forecast by End Use, 2018 to 2033
Table 26: South Jeolla Industry Analysis and Outlook Volume (Units) Forecast by End Use, 2018 to 2033
Table 27: Jeju Industry Analysis and Outlook Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 28: Jeju Industry Analysis and Outlook Volume (Units) Forecast by Product Type, 2018 to 2033
Table 29: Jeju Industry Analysis and Outlook Value (US$ Million) Forecast by Capacity Type, 2018 to 2033
Table 30: Jeju Industry Analysis and Outlook Volume (Units) Forecast by Capacity Type, 2018 to 2033
Table 31: Jeju Industry Analysis and Outlook Value (US$ Million) Forecast by End Use, 2018 to 2033
Table 32: Jeju Industry Analysis and Outlook Volume (Units) Forecast by End Use, 2018 to 2033
Figure 1: Industry Analysis and Outlook Value (US$ Million) by Product Type, 2023 to 2033
Figure 2: Industry Analysis and Outlook Value (US$ Million) by Capacity Type, 2023 to 2033
Figure 3: Industry Analysis and Outlook Value (US$ Million) by End Use, 2023 to 2033
Figure 4: Industry Analysis and Outlook Value (US$ Million) by Region, 2023 to 2033
Figure 5: Industry Analysis and Outlook Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 6: Industry Analysis and Outlook Volume (Units) Analysis by Region, 2018 to 2033
Figure 7: Industry Analysis and Outlook Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 8: Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 9: Industry Analysis and Outlook Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 10: Industry Analysis and Outlook Volume (Units) Analysis by Product Type, 2018 to 2033
Figure 11: Industry Analysis and Outlook Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 12: Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 13: Industry Analysis and Outlook Value (US$ Million) Analysis by Capacity Type, 2018 to 2033
Figure 14: Industry Analysis and Outlook Volume (Units) Analysis by Capacity Type, 2018 to 2033
Figure 15: Industry Analysis and Outlook Value Share (%) and BPS Analysis by Capacity Type, 2023 to 2033
Figure 16: Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Capacity Type, 2023 to 2033
Figure 17: Industry Analysis and Outlook Value (US$ Million) Analysis by End Use, 2018 to 2033
Figure 18: Industry Analysis and Outlook Volume (Units) Analysis by End Use, 2018 to 2033
Figure 19: Industry Analysis and Outlook Value Share (%) and BPS Analysis by End Use, 2023 to 2033
Figure 20: Industry Analysis and Outlook Y-o-Y Growth (%) Projections by End Use, 2023 to 2033
Figure 21: Industry Analysis and Outlook Attractiveness by Product Type, 2023 to 2033
Figure 22: Industry Analysis and Outlook Attractiveness by Capacity Type, 2023 to 2033
Figure 23: Industry Analysis and Outlook Attractiveness by End Use, 2023 to 2033
Figure 24: Industry Analysis and Outlook Attractiveness by Region, 2023 to 2033
Figure 25: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) by Product Type, 2023 to 2033
Figure 26: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) by Capacity Type, 2023 to 2033
Figure 27: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) by End Use, 2023 to 2033
Figure 28: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 29: South Gyeongsang Industry Analysis and Outlook Volume (Units) Analysis by Product Type, 2018 to 2033
Figure 30: South Gyeongsang Industry Analysis and Outlook Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 31: South Gyeongsang Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 32: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) Analysis by Capacity Type, 2018 to 2033
Figure 33: South Gyeongsang Industry Analysis and Outlook Volume (Units) Analysis by Capacity Type, 2018 to 2033
Figure 34: South Gyeongsang Industry Analysis and Outlook Value Share (%) and BPS Analysis by Capacity Type, 2023 to 2033
Figure 35: South Gyeongsang Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Capacity Type, 2023 to 2033
Figure 36: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) Analysis by End Use, 2018 to 2033
Figure 37: South Gyeongsang Industry Analysis and Outlook Volume (Units) Analysis by End Use, 2018 to 2033
Figure 38: South Gyeongsang Industry Analysis and Outlook Value Share (%) and BPS Analysis by End Use, 2023 to 2033
Figure 39: South Gyeongsang Industry Analysis and Outlook Y-o-Y Growth (%) Projections by End Use, 2023 to 2033
Figure 40: South Gyeongsang Industry Analysis and Outlook Attractiveness by Product Type, 2023 to 2033
Figure 41: South Gyeongsang Industry Analysis and Outlook Attractiveness by Capacity Type, 2023 to 2033
Figure 42: South Gyeongsang Industry Analysis and Outlook Attractiveness by End Use, 2023 to 2033
Figure 43: North Jeolla Industry Analysis and Outlook Value (US$ Million) by Product Type, 2023 to 2033
Figure 44: North Jeolla Industry Analysis and Outlook Value (US$ Million) by Capacity Type, 2023 to 2033
Figure 45: North Jeolla Industry Analysis and Outlook Value (US$ Million) by End Use, 2023 to 2033
Figure 46: North Jeolla Industry Analysis and Outlook Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 47: North Jeolla Industry Analysis and Outlook Volume (Units) Analysis by Product Type, 2018 to 2033
Figure 48: North Jeolla Industry Analysis and Outlook Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 49: North Jeolla Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 50: North Jeolla Industry Analysis and Outlook Value (US$ Million) Analysis by Capacity Type, 2018 to 2033
Figure 51: North Jeolla Industry Analysis and Outlook Volume (Units) Analysis by Capacity Type, 2018 to 2033
Figure 52: North Jeolla Industry Analysis and Outlook Value Share (%) and BPS Analysis by Capacity Type, 2023 to 2033
Figure 53: North Jeolla Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Capacity Type, 2023 to 2033
Figure 54: North Jeolla Industry Analysis and Outlook Value (US$ Million) Analysis by End Use, 2018 to 2033
Figure 55: North Jeolla Industry Analysis and Outlook Volume (Units) Analysis by End Use, 2018 to 2033
Figure 56: North Jeolla Industry Analysis and Outlook Value Share (%) and BPS Analysis by End Use, 2023 to 2033
Figure 57: North Jeolla Industry Analysis and Outlook Y-o-Y Growth (%) Projections by End Use, 2023 to 2033
Figure 58: North Jeolla Industry Analysis and Outlook Attractiveness by Product Type, 2023 to 2033
Figure 59: North Jeolla Industry Analysis and Outlook Attractiveness by Capacity Type, 2023 to 2033
Figure 60: North Jeolla Industry Analysis and Outlook Attractiveness by End Use, 2023 to 2033
Figure 61: South Jeolla Industry Analysis and Outlook Value (US$ Million) by Product Type, 2023 to 2033
Figure 62: South Jeolla Industry Analysis and Outlook Value (US$ Million) by Capacity Type, 2023 to 2033
Figure 63: South Jeolla Industry Analysis and Outlook Value (US$ Million) by End Use, 2023 to 2033
Figure 64: South Jeolla Industry Analysis and Outlook Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 65: South Jeolla Industry Analysis and Outlook Volume (Units) Analysis by Product Type, 2018 to 2033
Figure 66: South Jeolla Industry Analysis and Outlook Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 67: South Jeolla Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 68: South Jeolla Industry Analysis and Outlook Value (US$ Million) Analysis by Capacity Type, 2018 to 2033
Figure 69: South Jeolla Industry Analysis and Outlook Volume (Units) Analysis by Capacity Type, 2018 to 2033
Figure 70: South Jeolla Industry Analysis and Outlook Value Share (%) and BPS Analysis by Capacity Type, 2023 to 2033
Figure 71: South Jeolla Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Capacity Type, 2023 to 2033
Figure 72: South Jeolla Industry Analysis and Outlook Value (US$ Million) Analysis by End Use, 2018 to 2033
Figure 73: South Jeolla Industry Analysis and Outlook Volume (Units) Analysis by End Use, 2018 to 2033
Figure 74: South Jeolla Industry Analysis and Outlook Value Share (%) and BPS Analysis by End Use, 2023 to 2033
Figure 75: South Jeolla Industry Analysis and Outlook Y-o-Y Growth (%) Projections by End Use, 2023 to 2033
Figure 76: South Jeolla Industry Analysis and Outlook Attractiveness by Product Type, 2023 to 2033
Figure 77: South Jeolla Industry Analysis and Outlook Attractiveness by Capacity Type, 2023 to 2033
Figure 78: South Jeolla Industry Analysis and Outlook Attractiveness by End Use, 2023 to 2033
Figure 79: Jeju Industry Analysis and Outlook Value (US$ Million) by Product Type, 2023 to 2033
Figure 80: Jeju Industry Analysis and Outlook Value (US$ Million) by Capacity Type, 2023 to 2033
Figure 81: Jeju Industry Analysis and Outlook Value (US$ Million) by End Use, 2023 to 2033
Figure 82: Jeju Industry Analysis and Outlook Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 83: Jeju Industry Analysis and Outlook Volume (Units) Analysis by Product Type, 2018 to 2033
Figure 84: Jeju Industry Analysis and Outlook Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 85: Jeju Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 86: Jeju Industry Analysis and Outlook Value (US$ Million) Analysis by Capacity Type, 2018 to 2033
Figure 87: Jeju Industry Analysis and Outlook Volume (Units) Analysis by Capacity Type, 2018 to 2033
Figure 88: Jeju Industry Analysis and Outlook Value Share (%) and BPS Analysis by Capacity Type, 2023 to 2033
Figure 89: Jeju Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Capacity Type, 2023 to 2033
Figure 90: Jeju Industry Analysis and Outlook Value (US$ Million) Analysis by End Use, 2018 to 2033
Figure 91: Jeju Industry Analysis and Outlook Volume (Units) Analysis by End Use, 2018 to 2033
Figure 92: Jeju Industry Analysis and Outlook Value Share (%) and BPS Analysis by End Use, 2023 to 2033
Figure 93: Jeju Industry Analysis and Outlook Y-o-Y Growth (%) Projections by End Use, 2023 to 2033
Figure 94: Jeju Industry Analysis and Outlook Attractiveness by Product Type, 2023 to 2033
Figure 95: Jeju Industry Analysis and Outlook Attractiveness by Capacity Type, 2023 to 2033
Figure 96: Jeju Industry Analysis and Outlook Attractiveness by End Use, 2023 to 2033
Figure 97: Rest of Industry Analysis and Outlook Value (US$ Million) by Product Type, 2023 to 2033
Figure 98: Rest of Industry Analysis and Outlook Value (US$ Million) by Capacity Type, 2023 to 2033
Figure 99: Rest of Industry Analysis and Outlook Value (US$ Million) by End Use, 2023 to 2033
Figure 100: Rest of Industry Analysis and Outlook Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 101: Rest of Industry Analysis and Outlook Volume (Units) Analysis by Product Type, 2018 to 2033
Figure 102: Rest of Industry Analysis and Outlook Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 103: Rest of Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 104: Rest of Industry Analysis and Outlook Value (US$ Million) Analysis by Capacity Type, 2018 to 2033
Figure 105: Rest of Industry Analysis and Outlook Volume (Units) Analysis by Capacity Type, 2018 to 2033
Figure 106: Rest of Industry Analysis and Outlook Value Share (%) and BPS Analysis by Capacity Type, 2023 to 2033
Figure 107: Rest of Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Capacity Type, 2023 to 2033
Figure 108: Rest of Industry Analysis and Outlook Value (US$ Million) Analysis by End Use, 2018 to 2033
Figure 109: Rest of Industry Analysis and Outlook Volume (Units) Analysis by End Use, 2018 to 2033
Figure 110: Rest of Industry Analysis and Outlook Value Share (%) and BPS Analysis by End Use, 2023 to 2033
Figure 111: Rest of Industry Analysis and Outlook Y-o-Y Growth (%) Projections by End Use, 2023 to 2033
Figure 112: Rest of Industry Analysis and Outlook Attractiveness by Product Type, 2023 to 2033
Figure 113: Rest of Industry Analysis and Outlook Attractiveness by Capacity Type, 2023 to 2033
Figure 114: Rest of Industry Analysis and Outlook Attractiveness by End Use, 2023 to 2033
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Industrial Drum Industry Analysis in Korea
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