Plastic Pails Market

2020 Analysis and Review Plastic Pails Market by Product Type – Open Top and Closed Top for 2020 - 2030

  • 2020-06-25
  • REP-GB-11717
  • 105 Tables
  • 94 Figures
  • 208 pages
  • Format: PDF/PPT/Excel

An Incisive, In-depth Analysis on the Plastic Pails Market

This study offers a comprehensive, 360 degree analysis on the Plastic Pails market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Plastic Pails market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Plastic Pails Outlook & Key Findings

  • Plastic pails market is projected to reach over US$ 656 Mn by 2030, with open top/head plastic pails at the growth forefront
  • Inks, dyes, and pigments end use segment to witness a growth of 1.6x due to non-corrosion and tamper-proofing
  • Plastic pails market is projected to expand at CAGR of 4.4% during the forecast period (2020-2030).
  • North America and East Asia together are to dominate with a market value share of 56% in the global plastic pails market
  • Lightweight, recyclability and wide applicability win plastic pails vendors score of opportunities

Plastic Pails Market Analysis: Increased Manufacturing Activities to Boost Sales of Plastic Pails

One of the significant factor bolstering the demand for plastic pails is the growth of the manufacturing sector and industrial output. Global economic performance has stabilized across the globe rising demand for industrial products with enhanced infrastructure and standard of living.

The demand for plastic pails in the food & beverage industry will soar in the coming decade as these pails offer a convenient solution to storage. Closed lids ensure safe storage and transported due to airtight sealabilty. The economical nature of plastic pails is working to market’s advantage as vendors are opting for plastic over conventional metal pails, tins, and steel drums.

Future Market Insights predicts that rust-proof attribute of plastic pails will make them a preferred packaging solution amongst food ingredient manufacturers with growing focus on food safety.

The global market also stands to benefit from the booming agricultural sector that is projected to create a high demand for chemical fertilizers. Liquid fertilizers can be easily transported and stored in plastic pails as they are non-corrosive and easy to handle.

The paints and coatings industry is also projected to be a notable contributor to the global plastic pails market. Rise in construction and infrastructure activities, growing expenditure on refurbishing of homes, and property preservation will demand paints across the automotive, marine, aerospace, and machinery manufacturing sectors. Thus, this specific demand will boost the sale of plastic pails that are required for transporting paints across national and international borders.

Recyclable Plastics Anticipated to Augment the Growth of Plastic Pails

Plastic pollution has been the biggest challenge of the 20th century threatening the delicate balance of life on land, water, and air. Overflowing landfills has been a heated debate in recent years, as non-degradable plastic has led to some dire consequences.

This challenge has provided enormous opportunities for use of recycled plastic in production of plastic pails. Government support and stringent regulations have played a major role in recycling plastics. Brand owners and manufacturers from various industries are also focusing on reusing plastic to reduce their carbon footprint and to make the product environment-friendly.

Thus, plastic pails made with recycled material are expected to gain momentum as they are expected to reduce CO2 emissions and eliminate the dependency of fossil fuels for production of new plastic. Crude oil is used in two ways in the production of plastic pails-petroleum refining as raw material and as an energy source for manufacturing. Manufacturing of plastic pails from recycled materials will reduce the dependency on the price of raw material, allowing manufacturers to offer low-cost plastic pails to end-user industries.

For instance, Mauser Group N.V. uses recycled-material-incorporating Twinshot technology to manufacture 100% recyclable plastic pails. In spite of the favorable conditions, recycling efficiency remains fragmented and limited, which lowers profitability and benefits to be derived. Thus, increasing consumer awareness about overall benefits of plastic recycling is expected to complement the market by creating more opportunities for the plastic pails market.

COVID-19 Impact on Plastic Pails Market

COVID-19 has disrupted in the supply chain of all business all across the world, gravely impacting the packaging industry as well. Discontinuation of production in multiple regions such as the United States, which accounts for significant consumption of plastic pails, has affected the market severely.

Problems such as shortage of raw materials and hurdles in sourcing material for manufacturing plastic pails such as polyethylene, polypropylene, polyvinyl chloride and others have a significant impact on the manufacturing of plastic pails. Furthermore, a decrease in demand from end-user industries of plastic pails would lead to slow growth of the market.

However, the market is likely to recover steadily as nations lift lockdowns as the demand for food and beverages, petroleum products, chemicals and other essential industrial supplies is likely to continue. This, in turn, will increase demand improved packaging for marketing and logistics.

Stringent Environmental Regulations against Use of Plastics

According to cleanwater.org, food containers and packaging are the largest component of solid waste stream. Marine plastic pollution has impacted at least 267 species worldwide. Plastic pollution has become a major concern for various governments across the world. Some countries like Peru and Australia, have severely restricted single-use plastics. In addition, European Parliament has voted to ban single-use plastics which is likely to come into force by 2021 in all European Union member states.

As governments across the globe are imposing stringent rules and regulations on the use of plastic, manufacturers will have to rethink their strategies. The demand for synthetic plastic, which is harmful to the environment as it is non-biodegradable, has become a matter of concern for national and international governments. This is likely to limit the market growth of plastic pails market and make companies rethink their production strategies.

North America is anticipated to have significant market share 19.6% due to its matured markets and is likely to be in the maturity phase of the PLC cycle. Meanwhile, Latin America, which holds a market share of 4.9% will move from growth to maturity phase.

Future Market Insights analysts indicate that Europe has a prominent market share of 18.8% and thus has a matured market with stagnant demand. South Asia is likely to have a high growth rate as the market has lucrative opportunity to grow with rapid industrialization.

East Asia is the largest market accounting for more than 36% of the plastic pails market due to availability of raw materials, growing production and packaging industries. Oceania has less market share 2.9% owing to the limited presence of the manufacturers in the region. Middle East & Africa has a low market share 4.8% but is likely to grow in the forecasted period owing to the growth in industries in the years to come.

Plastic Pails Market: Regional Analysis

Main concerns of the industry come from the workforce, which needs to isolate due to illness during the pandemic. Many countries rely on the manufacturing facilities of East Asia for industrial supplies. COVID-19 has caused disruptions and has led to deglobalization of supply chains. Demand for plastic pails depends on the end-use industries, with a slowdown in paints & coatings industries, and other industrial activities, it is quite evident that the demand for plastic pails might witness sluggish growth.

North America is severely affected with COVID -19, which has drastically hampered the consumption of plastic pails. Dependency for chemicals and solvents from countries in East Asia such as China is anticipated to slow down the growth rate for plastic pails in the region.

East Asia, South Asia and Europe are expected to return to supply chain normalcy due to availability and production of raw materials in the region. On the other hand, countries affected adversely due to COVID-19 are set to experience sluggish growth until the situation gets in control due to disturbances in the logistics and transportation network.

Acquisition Strategy to Optimize Brand Value of the Plastic Pails Manufacturers

Plastic pails market is a fragmented in nature where there are many unorganized players in the market. To sustain a market share and to have a wide presence across regions the plastic pails manufacturers have been following the acquisition strategy to grow their business.

Acquisition strategy is expected to help businesses to add-on to the scale of the business and enhance their core competencies. Inorganic growth through acquisition is a faster and less risky method than organic growth. Due to the business’s saturation in a geographical region, the acquisition of another company can create a pool of opportunities for the untapped market by the manufacturer.

The recent developments in the same have been, acquisition of RPC Group PLC, Clopay Plastic Products Company, Inc., and Laddawn, Inc by Berry Global Group, Inc., acquisition of Caraustar Industries by Grief Inc. and acquisition of Bahrain-based Gulf Powerbeat WLL (GPW) by Time Technoplast and another few leading players in the plastic pails market which follow the same trends.

Acquisition eliminates the entry barriers in potential markets. Therefore, it enhances the brand value of the players in the market and is likely to boost the growth of plastic pails market as it enables to provide better quality products to the customers.

The plastic pails market is a fragmented market the top three players accounting for 10-15% of the global production. The key players operating in the market are focusing on expanding their reach globally, diversifying their product portfolio, collaboration and innovation to gain a competitive edge.

Some of the key players in the Plastic Pails market are-

  • Time Technoplast Ltd
  • Greif Inc.
  • Mauser Group N.V.
  • NCI Packaging
  • FDL Packaging Group
  • Great Western Containers Inc.
  • Berry Global, Inc.
  • Rieke Corporation 
  • M&M Industries, Inc. 
  • Balmer Lawrie & Co. Ltd. 

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report

Plastic Pails: The Way Forward

The growth trend of the continuous inkjet inks market is likely to be upward. Though Y-o-Y growth is steady, the market is projected to record 4.2% growth from 2022. Industries such as food and beverages, pharmaceuticals, agrochemicals, lubricants paints & coatings rely on production of solvents and chemicals supply for manufacturing activities.

Reduced oil prices globally have led to a significant decrease in the value of plastics, making companies question the feasibility of recycling plastic. This means many businesses are struggling to meet commitments of adopting sustainable practices and replace all or parts of their products with recycled plastic. This has resulted in companies returning to produce new plastic – which adds on unsustainable levels of plastic production and disorganized waste management system. However, with government regulations, this is likely to have a short term effect and calls for responsible actions by the companies across the globe.

The focus of businesses is likely to be creating responsible value chains for the future which does not only consider economic but social and environmental aspects. There are plenty of opportunities in the plastic pails market which include technological advancements, polymer recycling, printing on the plastic pails for marketing campaigns and use of bio-based plastics

Global Plastic Pails Market: Global Industry Analysis 2015-2019 & Opportunity Assessment 2020-2030

A recent market report published by Future Market Insights on the plastic pails market provides global industry analysis for 2015-2019 & forecast for 2020-2030. The report offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical, as well as current growth parameters of the plastic pails market, the growth prospects of the market are obtained with maximum precision.

Market Taxonomy

The global plastic pails market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

By Product Type

  • Open Top/Head
  • Close Top/Head

By Material Type

  • PE
  • PP
  • PET
  • PVC
  • Others

By Capacity

  • Up to 3 Litres
  • 3 to 5 Litres
  • 5 to 10 Litres
  • 10 to 20 Litres
  • Above 20 Litres

By End Use

  • Paints & Coatings
  • Inks, Dyes & Pigments
  • Petroleum & Lubricants
  • Agrochemicals & Fertilizers
  • Food & Beverage Ingredients
  • Other Industrial

By Region

  • North America
  • Latin America
  • Europe
  • MEA
  • East Asia
  • South Asia
  • Oceania

Report Chapters

Chapter 01 – Executive Summary

The report begins with the executive summary of the plastic pails market, which includes a summary of the key findings and statistics of the market. It also includes dominant segments in the global plastic pails market, along with key facts about plastic pails market. It also includes graphical representation of the segments according to market size and growth rate.

Chapter 02 – Market Overview

Readers can find detailed taxonomy and definition of the plastic pails market in this chapter, which will help them understand the basic information about Plastic Pails Market present in the market. This section also highlights the inclusions and exclusions, which help readers to understand the scope of the plastic pails market report.

Chapter 03 – Global Plastic Pails Market Demand Analysis (Volume’000 Units) 2015-2019 and Forecast, 2020-2030

This section explains the global market volume analysis and forecast for the plastic pails market between the forecast period of 2020-2030. It includes the detailed analysis of the historical plastic pails market, along with an opportunity analysis for the future. Readers can also find the Y-o-Y growth opportunity for the forecast period (2020-2030).

Chapter 04 – Key Market Trends

It includes a comprehensive analysis of key trends such as product innovation and technological advancements that are impacting the global plastic pails market.

Chapter 05 – Global Plastic Pails Market - Pricing Analysis

This section highlights the average pricing analysis of various product types (open top/head and close top/head) of plastic pails market in different regions across the globe. The weighted average pricing at the manufacturer-level is analyzed in this section.

Chapter 06 – Global Plastic Pails Market Demand (Value in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030

This section explains the global market value analysis and forecast for the plastic pails market between the forecast period of 2020-2030. It includes the detailed analysis of the historical plastic pails market, along with an opportunity analysis for the future. Readers can also find the Y-o-Y growth opportunity for the forecast period (2020-2030).

Chapter 07 – Market Background

This chapter explains the key forecast factors that are expected to influence the growth of plastic pails market over the forecast period. This chapter also highlights the key market dynamics of the plastic pails market, which include the drivers, restraints, opportunities, and trends. This section also includes value chain analysis. Chapter 08 – Global Plastic Pails Market Analysis 2015-2019 and Forecast 2020-2030, by Material Type

Based on material type, the plastic pails market is segmented as polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC) and others. In this chapter, readers can find information about key segments during the forecast period.

Chapter 09 – Global Plastic Pails Market Analysis 2015-2019 and Forecast 2020-2030, By Product Type

Based on product type, the plastic pails market is segmented into open top/head and close top/head. In this chapter, readers can find information about key attractive segments during the forecast period.

Chapter 10 – Global Plastic Pails Market Analysis 2015-2019 and Forecast 2020-2030, By Capacity

Based on capacity, the plastic pails market is segmented on the basis of up to 3 litres, 3 to 5 litres, 5 to 10 litres, 10 to 20 litres and above 20 litres. In this chapter, readers can find information about key segments during the forecast period.

Chapter 11 – Global Plastic Pails Market Analysis 2015-2019 and Forecast 2020-2030, By End Use

Based on end use, the plastic pails market is segmented into paints & coatings, inks, dyes & pigments, petroleum & lubricants, agrochemicals & fertilizers, food & beverage ingredients and other industrial end uses. In this chapter, readers can find information about key attractive segments during the forecast period.

Chapter 12 – Global Plastic Pails Market Analysis 2015-2019 and Forecast 2020-2030, by Region

This chapter explains how the Plastic Pails Market is expected to grow across various geographical regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa (MEA).

Chapter 13 – North America Plastic Pails Market Analysis 2015-2019 and Forecast 2020-2030

This chapter includes a detailed analysis of growth of the North America plastic pails market, along with a country-wise assessment that includes the U.S. and Canada. Readers will also find some of key points on the basis of estimated market size and consumption of Plastic Pails Market.

Chapter 14 – Latin America Plastic Pails Market Analysis 2015-2019 and Forecast 2020-2030

Readers can find detailed information about several factors, such as the pricing analysis and the regional trends, which are impacting the growth of the Latin America plastic pails market. This chapter also includes the growth prospects of the plastic pails market in leading countries in Latin America such as Brazil, Mexico, Argentina, and the Rest of Latin America.

Chapter 15 – Europe Plastic Pails Market Analysis 2015-2019 and Forecast 2020-2030

Important growth prospects of the plastic pails market based on the product type, material type, capacity and end use in several countries such as Germany, the U.K., France, Spain, Italy, Russia, Poland, BENELUX, Nordic countries, and the Rest of Europe, are included in this chapter.

Chapter 16 – Middle East and Africa Plastic Pails Market Analysis 2015-2019 and Forecast 2020-2030

This chapter provides information about how the plastic pails market will grow in major countries in the MEA region such as GCC Countries, South Africa, Turkey, Northern Africa, and the Rest of MEA during the forecast period 2020 - 2030.

Chapter 17 – East Asia Plastic Pails Market Analysis 2015-2019 and Forecast 2020-2030

This chapter highlights the growth of the plastic pails market in East Asia by focusing on China, Japan, and South Korea. The section also highlights data points regarding the growth of the plastic pails market in East Asia.

Chapter 18 – South Asia Plastic Pails Market Analysis 2015-2019 and Forecast 2020-2030

India, Indonesia, Thailand, and Malaysia are the leading countries in the South Asia region that are the prime subjects of assessment to obtain the growth prospects of the South Asia plastic pails market in this chapter. Readers can find detailed information about the growth parameters of the South Asia plastic pails market during the forecast period of 2020-2030.

Chapter 19 – Oceania Plastic Pails Market Analysis 2015-2019 and Forecast 2020-2030

In this chapter, Australia and New Zealand are among the leading countries in the Oceania region, which are the prime subjects of assessment to obtain the growth prospects of the Oceania plastic pails market.

Chapter 20 – Plastic Pails Market Country-wise Analysis and Forecast

This chapter provides information about how the plastic pails market will grow in various countries such as United States, Canada, Brazil, Mexico, Argentina, Germany, Italy, France, U.K., Spain, Benelux, Russia, GCC Countries, Turkey, Northern Africa, South Africa, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia and New Zealand across the regions during the forecast period 2020 - 2030.

Chapter 21 – Market Structure Analysis

In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the plastic pails market along with their market presence analysis by region and product portfolio.

Chapter 22 – Competition Analysis

In this chapter, readers will find a comprehensive list of all leading manufacturers in the plastic pails market, along with detailed information about each company, including company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Time Technoplast Limited, Greif Inc., Mauser Group N.V., NCI Packaging, FDL Packaging Group, Great Western Containers Inc., Berry Global Group, Inc., Balmer Lawrie & Co. Ltd , Rieke Corporation and M&M Industries, Inc.

Chapter 23 – Assumptions and Acronyms            

This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the plastic pails market report.

Chapter 24 – Research Methodology

This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, about the plastic pails market.

Sources and Primary Research Splits (%)

Primary Research

Primary research interviews with key opinion leaders and other participants were conducted for data collection and validation of the below information:

 

  • Key Segments in the plastic pails market
  • Market Share Analysis
  • Average Selling Price (US$) and Market Growth
  • Key Regulations in Packaging Industry
  • Market Size
  • Key Trends & Developments
  • Competition & Key Vendor Strategies

Secondary Research

  • Industry Journals
  • Packaging Industry Growth
  • Regional Plastic Packaging Consumption
  • Annual Reports/SEC Filings/Investor Presentations

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