Reports
- Global Locations -
Headquarters
Future Market Insights, Inc.
Christiana Corporate, 200
Continental Drive, Suite 401,
Newark, Delaware - 19713,
United States
Americas
Future Market Insights, Inc.
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989, United States
MEA
Future Market Insights
1602-6 Jumeirah Bay X2 Tower, Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
Europe
Future Market Insights
3rd Floor, 207 Regent Street,
W1B 3HH London
United Kingdom
Asia Pacific
Future Market Insights
IndiaLand Global Tech Park, Unit UG-1, Behind Grand HighStreet, Phase 1, Hinjawadi, MH, Pune – 411057, India
The global industrial pails & drums market is set to enjoy a valuation of US$ 20.3 billion in 2022, and further expand at a CAGR of 4.8% to reach US$ 32.3 billion by the year 2032. The sales of industrial pails & drums are projected to augment with the top 3 countries anticipated to hold approximately 25-30% of the market by the end of 2022.
Based on capacity, the 501 to 1000 litre segment is projected to hold account for around 40% of the market value share by the end of 2022. The increased preference for standard capacity is projected to augment the sales of 501-1000 litres of industrial pails & drums.
Attributes | Details |
---|---|
Market Size 2022 | US$ 20.3 billion |
Market Size 2032 | US$ 32.3 billion |
Value CAGR (2022 to 2032) | 4.8% |
Collective Value Share: Top 5 Countries (2022E) | 15 to 20% |
The global industrial pails & drums market accounts for around 30% of the global industrial packaging market worth US$ 64 billion, in 2021.
According to the FMI analysis, the industrial pails & drums market reached US$ 19.1 billion in 2021. The global industrial pails & drums market is anticipated to reach US$ 32.3 billion by the end of 2032, registering at a CAGR of 4.8% from 2022 to 2032. The demand for plastic industrial pails & drums segment by the material is projected to bolster with the top 5 key players holding 15-20% of the global industrial pails & drums market by the end of 2022.
The industrial pails & drums market is projected to bolster the increasing demand for bulk industrial packaging. A new forecast by FMI analysis estimates that industrial pails & drums sales will propel during the foreseeable period and is anticipated to create a growth opportunity of US$ 13.3 billion.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The global industrial pails & drums market witnessed a CAGR of 4.3% during the historic period with a market value of US$ 19.0 billion in 2021.
Industrial pails & drums are safe & secure packaging and transportation solutions for hazardous as well as non-hazardous content. They are also reusable and recyclable, which makes them an ideal choice for the packaging of various goods. Industrial pails & drums are made from different materials such as plastic pails & drums and metal pails & drums. Also, these pails & drums are made available in different capacities based on the end-user requirement.
The increasing demand for durable bulk packaging supplements the sales of industrial pails & drums in various end-use industries such as chemical & fertilizers, oil & lubricants, food & beverages, paints, inks & dyes, pharmaceuticals, automotive, and others. The demand for industrial pails & drums in the chemical industry is rising due to the changing way of industrial packaging solutions by leasing and pooling the industrial pails & drums.
The urge to meet the set standards for using packaging solutions for transporting chemical products augments the sales of industrial pails & drums. The standard is set by various countries and various regulations such as the United Nations regulations, The USA Department of Transportation (DOT), and others. This creates a growth opportunity for the industrial pails & drums. Overall, the global industrial pails & drums market is projected to experience a positive growth outlook during the forecast period.
The packaging sector is one that constantly develops packaging solutions that are more efficient than conventional alternatives. Safe and secure packaging options, particularly those made for high-value commodities transportation, have seen an increase in demand in recent years. Industrial pails& drums are one example of durable & safe bulk packaging solutions created for the storing and delivery of hazardous chemicals that may be used for a variety of purposes.
For both liquid and granulated/powdered product forms, industrial pails & drums are utilized. For the safe conveyance of large quantities of goods, manufacturers and exporters prefer quality industrial packaging for their high-value products. In order to prevent product waste and maintain the surface of the transport vehicle or ship, shipping and logistics partners also choose spill-proof packaging. Also, the end-use industries are focusing on preferring sustainable and safe bulk packaging solutions to address sustainability goals.
The key players have started to offer recyclable industrial pails & drums to cater to the demand, for instance, Berry Global Group offers plastic pails which contain 50% post-consumer recycled plastic. Also, Schütz GmbH & Co KGaA offers green-layer plastic drums.
Based on material, the plastic pails & drums segment is projected to remain a lucrative segment for the global industrial pails & drums market. The plastic segment is projected to expand at a CAGR of 5.1% during the forecast period. The plastic pails & drums are affordable to produce, lightweight, and require less energy to ship which helps in reducing the carbon footprint. Based on the mentioned factors, the plastic segment is estimated to gain traction in the end-use industry.
The chemical & fertilizers segment followed by the oil & lubricants segment is projected to offer a growth opportunity for the global industrial pails & drums market. The surge in the need for a safe and secure bulk container for transporting & storing chemical products and oil generate high demand for industrial pails & drums. The expanding chemical industry across the globe creates a growth opportunity for the target market. The chemical & fertilizers segment is expected to account for around 42% of the market share by the end of 2022.
Germany is estimated to account for around 21% of the European industrial pails & drums market value by the end of 2032 due to the increased trade of paint products in Germany. As per the data provided by the Association of the German Coatings and Printing Inks Industry, around 352 (‘000) tons of paint were supplied by the German market to the major seven industries in 2021. Thus, the paint industry in Germany is projected to propel the demand for industrial pails & drums.
The major portion of East Asia industrial pails & drums is estimated to be beheld by China. China's market is projected to grow 1.6 times the current market value during the forecast period.
As per the data provided by the World Integrated Trade Solution (WITS), in 2019 the export in China accounted for US$ 2,498 billion. China is considered to be the highest exporter in the world. The increasing export by China will create a market growth opportunity for the industrial pails & drums. The rising export will generate the demand for returnable transport packaging offering cost benefits along with catering to the sustainability concern growing around the world which will bolster the demand for industrial pails & drums in China.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The key players operating in the industrial pails & drums market are trying to focus on increasing their sales and revenues by expanding their capabilities to meet the growing demand. The key players are trying to adopt a merger & acquisition strategy to expand their resources to meet customer needs. Some of the recent key developments by the leading players are as follows
Attribute | Details |
---|---|
Growth Rate | CAGR of 4.8% from 2022 to 2032 |
Base Year for Estimation | 2021 |
Historical Data | 2015 to 2020 |
Forecast Period | 2022 to 2032 |
Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered |
|
Regions Covered |
|
Key Countries Covered |
|
Key Companies Profiled |
|
In 2021, the value of the global industrial pails & drums market was US$ 19.0 billion.
During the forecast period, the global industrial pails & drums market is anticipated to expand at a CAGR of 4.8%.
The global industrial pails & drums market is expected to reach US$ 32.3 billion by the end of 2032.
During the forecast period, plastic material is likely to be the fastest-growing material segment in the global industrial pails & drums market.
Recommendations
Explore Packaging Insights
View Reports