Next-gen Steel Drums Becoming Mainstream
The use of shipping containers has contributed to the increasing efficiency of intermodal shipping and transport of goods. Next-gen steel drums and IBC continue to gain traction as they simplify shipping of hazardous and non-hazardous products. Moreover, ascending flexible liquid packaging demands remain a growth catalyst for the steel drums & IBCs market as they offer considerable benefits for storage and handling with spill-proof barriers, especially for liquid products. Considering the growing focus on spill prevention during inter-continental trade, use of advanced steel drums and IBCs is likely to witnessing significant uptick in the future.
Steel Drums and IBC Market: Key Research Findings
- The global steel drums & IBC market size in 2018 was approximately US$ 13 Bn.
- The steel drums & IBCs market is projected to grow at approximately 4.0%, during the next ten years.
- East Asia is expected to remain a prominent region in terms of steel drums & IBCs market value share during the forecast period.
- China in East Asia is expected to be highly attractive in terms of market share and growth rate of the steel drums & IBCs market due to factors such as high growth rate of end-use industries and rising demand for industrial packaging solutions.
Key Factors Shaping the Global Steel Drums & IBCs Market
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Emergence of Steel Drums & IBCs as a Preferred Solution for the Export of Oil and Chemicals
Oil exporters across the globe are selecting steel drums & IBCs over other bulk packaging products. This may be attributed to factors such as higher operational efficiency and effectiveness in shipping bulk quantities of merchandise in liquid form.
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Heightened Demand for Sophisticated Containers Intended for Bulk Liquid Transportation to Propel the Demand for Steel Drums & IBCs
One of the key factors bolstering the demand for steel drums & IBCs is the enhanced performance of the manufacturing sector and industrial output. Global economic performance has become stable over the last three quarters in prominent economies. The significant co-relation between the industrial output and demand for industrial packaging solutions, is likely to propel the demand for steel drums & IBCs in the coming years. Although the demand for steel drums & IBCs is likely to be concentrated in the East Asia & South Asia regions, a considerable contribution to the global demand is also expected from other clusters such as MEA and Europe. North American and Latin American markets are likely to witness considerable demand for steel drums & IBCs over the forecast period.
Steel Drums & IBCs Market Structure Analysis
- The global steel drums & IBCs market is characterized by the presence of fewer organized players, which significantly influence the global steel drums & IBCs market.
- The leading players in the steel drums & IBCs market are players with a wide product portfolio. These players contribute significantly to the growth of the steel drums & IBCs market.
- These leading players are characterized by a decent presence overseas, and a good portfolio of steel drums, and tier 3 players include most of the unorganized sector.
- Key market players such as Greif, Inc. and Mauser Packaging Solutions, are focusing more on their core competencies to generate more revenues.
- In December 2018, the Greif, Inc. acquired Caraustar Industries, a vertically-integrated paperboard manufacturer from North America.
- In 2016, Mauser Packaging Solutions announced the start of three new production lines in St Priest, France.
- Leading manufacturers in the steel drums & IBCs market are expected to increase global footmark either via mergers and acquisitions or collaborations with regional manufacturers.
- Considering the current scenario in the steel drums and IBCs market, it is highly likely that market players will look to increase their compliance to local, federal, and import-export regulations.
Growing Seaborne Trade & Demand for Safer Transportation to Upscale Growth
The steel drums and IBCs market is expected to witness a healthy growth over the forecast period. Growth is attributed to the increasing demand for safe and secure transportation of various products. Increasing demand for shipping containers on account of the growing seaborne trade and continued focus on improving transportation of goods is likely to boost the utilisation of steel drums & IBCs. The broader gains in industrial and bulk packaging are also likely to rub off on the prospects of steel drum and IBC manufacturers.
Opportunities in Asia Pacific Continue to Grow
East and South Asia remain the target markets for manufacturers. Emphasis on using sustainable bulk packaging solutions are shifting consumer preference from plastic packaging to metal packaging, pushing the use of sustainable alternatives. Moreover, governments in many fast-growing countries, like India and China are working to support the maximization of trade activities which could further boost the applicability of steel drums & IBCs in the foreseeable future.
Reduce, Re-use, and Recycle - Key Trends
Manufacturers are focused on adapting their business models to the key trends, especially the growing focus on reduce, re-use, and recycle. Manufacturers are introducing newer products to align with the growing emphasis on cost reductions in empty container repositioning, bringing foldable and collapsible containers in limelight. The steel drums & IBCs market is likely to witness several collaborations and acquisitions as companies push to improve their manufacturing capabilities and expand global footprint. The unwavering focus on improving operational efficiency among end-users has put pressure on steel drum and IBC manufacturers to focus on downgauging. The industry has responded by launching drums and IBCs which are lightweight as compared to previous variants.
200 liter sales continue to grow
1,001-1,500 Liter topselling category
Chemical industry accounts for highest demand
Sales in Petroleum & Lubricants growing
How Growth will Unfold
The steel drums & IBCs market will continue its growth momentum, and the IBCs segment is expected to outpace steel drums with respect to growth rate. Continued incorporation of next-gen technologies that help achieve traceability and effective tracking of shipments are expected to stir further advancements in IBCs. The winning imperatives for market players in this landscape revolve around adapting to the evolving requirements of the end-users. As sustainability regulations become stricter, manufacturers will need to don the role of collaborators rather than solely focusing on client servicing.
* This data is only a representation. Actual data may vary and will be available in report.
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Overview
Steel Drums & IBCs Market Analysis 2019-2029
A recent market study published by FMI on the steel drums & IBCs 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 steel drums & IBCs market, the growth prospects of the market are obtained with maximum precision.
Steel Drums and IBC Market Taxonomy
The global steel drums & IBCs market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
By Capacity
- Drums
- 200 Litre
- Other than 200 Litre
- IBCs
- Up to 500 Litre
- 501-1,000 Litre
- 1,001-1,500 Litre
- Above 1,500 Litre
By End Use
- Chemicals
- Petroleum & Lubricants
- Paints, Inks & Dyes
- Food & Beverages
- Building & Construction
- Healthcare & Pharmaceuticals
- Others
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- MEA
What's Included
The report commences with the executive summary of the steel drums & IBCs market, which includes a summary of the key findings and statistics of the market. It also includes prominent segments in the global steel drums & IBCs market, along with key facts about steel drums & IBCs. It also includes graphical representation of the segments according to market size and growth rate.
Readers can find detailed taxonomy and definition of the steel drums & IBCs market in this chapter, which will help them understand the basic information about steel drums & IBCs present in the market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the steel drums & IBCs market report.
The report provides key market trends that are expected to impact the market growth significantly in the coming years. Detailed industry trends are provided in this section, along with key market developments or product innovations, which are likely to have a significant impact on the steel drums & IBCs market.
This section includes a comparative analysis of steel drums & IBCs. Along with the product adoption analysis and promotional strategies being used by tier 1 manufacturers and features, which set steel drums & IBCs apart.
This section explains the global market value & volume analysis and forecast for the steel drums & IBCs market between the forecast period of 2019-2029. It includes the detailed analysis of the historical steel drums & IBCs market, along with an opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2019 – 2020), and an incremental opportunity for the forecast period (2019 – 2029).
This section highlights the average pricing analysis of various capacity types of steel drums & IBCs, in different regions across the globe. The weighted average pricing at the manufacturer-level is analyzed in this section.
This chapter explains the key macro-economic factors that are expected to influence the growth of the steel drums & IBCs market over the forecast period. Along with macroeconomic factors, this section also highlights the opportunity analysis for the steel drums & IBCs market. This chapter also highlights the key market dynamics of the steel drums & IBCs market, which include the drivers and restraints. Moreover, readers will understand the key trends followed by the leading manufacturers in the steel drums & IBCs market. This section also covers Porter’s analysis, as well as the PESTLE analysis for the global steel drums & IBCs market.
Based on capacity type, the steel drums & IBCs market is segmented into various capacities of drums and IBCs. Drums are segmented into 200 litre and other than 200 litre. IBCs are segmented into up to 500 litre, 501-1,000 litre, 1,001 -1500 litre, and above 1,500 litre. In this chapter, readers can find information about key attractive segments during the forecast period.
This chapter provides details about the steel drums & IBCs market on the basis of end use, and has been classified into chemicals, petroleum & lubricants, paints, inks & dyes, food & beverage, building & construction, healthcare & pharmaceuticals, and others. In this chapter, readers can find information about key segments during the forecast period.
This chapter explains how the steel drums & IBCs market is expected to grow across various geographical regions, such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North American steel drums & IBCs market, along with a country-wise assessment that includes the U.S. and Canada. Readers will also find some key points on the basis of estimated market size and consumption of steel drums & IBCs.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting the growth of the Latin America steel drums & IBCs market. This chapter also includes the growth prospects of the steel drums & IBCs market in leading LATAM countries such as Brazil, Mexico, Argentina, and the Rest of Latin America.
Important growth prospects of the steel drums & IBCs market, based on the capacity and the end-user industry in several countries, such as Germany, the UK, France, Spain, Italy, Russia, BENELUX, and the Rest of Europe, are included in this chapter.
India, Indonesia, Thailand, Singapore, 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 steel drums & IBCs market in this chapter. Readers can find detailed information about the growth parameters of the South Asia steel drums & IBCs market during the period 2019-2029.
This chapter highlights the growth of the steel drums & IBCs market in East Asia by focusing on China, Japan, and South Korea. The section also highlights data points regarding the growth of the steel drums & IBCs market in the East Asian region.
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 steel drums & IBCs market.
This chapter provides information about how the steel drums & IBCs 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 2019 - 2029.
The section provides market forecast and analysis for emerging countries based on key market segments considered. It also covers market attractiveness analysis by key segments along with the impact of market dynamics and a brief overview of key players active in the region.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the steel drums & IBCs market along with their market presence analysis by region and product portfolio.
In this chapter, readers will find a comprehensive list of all leading manufacturers in the steel drums & IBCs 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 Greif, Inc., Hoover Ferguson Group, Snyder Industries, Inc., Schuetz GmbH & Co. KGaA, Mauser Packaging Solutions, Thielmann US LLC, Time Technoplast Ltd., Custom Metalcraft, Inc., Automationstechnik GmbH, Transtainer, Hawman Container Services, Schafer Werke Gmbh, Obal Centrum s.r.o., Sicagen India Limited, Balmer Lawrie & Co. Limited, Industrial Container Services, Inc., Myers Container, LLC., Orlando Drum & Container Corporation, Great Western Containers Inc., Meyer Steel Drum, Inc., and Peninsula Drums CC among others.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the steel drums & IBCs report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information about the steel drums & IBCs market.
How the research was conducted?
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 Steel Drums & IBCs Market
- Market Share Analysis
- Average Selling Price (US$) and Market Growth
- Comparative Analysis
- Market Size of Steel Drums & IBCs
- Key Trends & Developments
- Competition & Key Vendor Strategies
Secondary Research
- Industry Journals
- Association Data
- Company’s Annual Reports/SEC filings/Investor Presentations
Primary Interview Splits
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