Market Size of Industrial Drums Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 13.83 Billion |
Market Size (2029) | USD 18.24 Billion |
CAGR (2024 - 2029) | 5.69 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Major Players*Disclaimer: Major Players sorted in no particular order |
Industrial Drums Market Analysis
The Industrial Drums Market size is estimated at USD 13.83 billion in 2024, and is expected to reach USD 18.24 billion by 2029, growing at a CAGR of 5.69% during the forecast period (2024-2029).
- Industrial drums are increasingly in demand in the chemical and petrochemical lubricants market. Their appeal lies in their robustness, gas barrier capabilities, and ease of use, which are expected to propel demand across the industry during the forecast period.
- The petrochemical sector, in particular, is emphasizing the need for secure packaging to safeguard its products. Concurrently, the surge in paints, dyes, and ink production in emerging markets, coupled with a heightened emphasis on secure supply chains, is expected to further bolster demand. Notably, as investments in production equipment rise, the industrial drum market stands to gain significant growth opportunities.
- While the APAC region is poised to dominate drum demand, regions like the Middle East and Eastern Europe are increasingly influencing the global landscape, especially with notable advancements in Eastern Europe. For example, in March 2023, Mauser Packaging Solutions underscored this trend by inaugurating a state-of-the-art manufacturing plant in China's Haiyan Economic Development Zone near Shanghai. This move aligned with the region's escalating industrial packaging needs, ensuring readiness for both current and future market demands.
- Industrial drums play a pivotal role in the intermediate manufacturing processes of key sectors like chemicals, pharmaceuticals, and food and beverages. They not only enable safe and efficient storage, transport, and handling of materials but also ensure containment and integrity, thereby enhancing production workflows and regulatory compliance.
- Furthermore, fiber drums are gaining traction in the chemical and fertilizer sectors, offering enhanced productivity and cost savings. With a surge in fertilizer and chemical trade between nations, the demand for diverse industrial drums is set to escalate.
- While regulatory changes are nudging industrial drum prices upwards, impacting consumption and market growth, manufacturers are increasingly turning to eco-friendly packaging materials. Fiber and paperboard, with their eco-conscious appeal and high recyclability rates, are witnessing a surge in adoption across regions.
Industrial Drums Industry Segmentation
Industrial drums are primarily used to store and transport materials for the delivery of mass freight. Based on the different materials, industrial drums are often separated into three main categories: steel drums, plastic drums, and fiber drums. The study tracks revenue accrued from the sales of the drums offered by various vendors operating in the market with manufacturing capability. The study does not consider service providers that offer third-party supplier services.
The global industrial drums market is segmented by product type (steel drum, plastic drum, fiber drum), end-user industry (food and beverages, chemicals and fertilizers, pharmaceuticals, petroleum and lubricants, other end-user industries), and geography (North America [United States, Canada], Europe [United Kingdom, Germany, France, Italy, Rest of Europe], Asia-Pacific [China, India, Japan, Australia and New Zealand, Rest of Asia-Pacific], Latin America [Brazil, Mexico, Rest of Latin America], Middle East and Africa [United Arab Emirates, Saudi Arabia, South Africa, Egypt, Rest of Middle East and Africa]). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
By Product Type | |
Steel Drum | |
Plastic Drum | |
Fiber Drum |
By End-user Industry | |
Food and Beverage | |
Chemicals and Fertilizers | |
Pharmaceuticals | |
Petroleum and Lubricants | |
Other End User Industries |
By Geography*** | ||||||
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Australia and New Zealand | ||||||
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Industrial Drums Market Size Summary
The industrial drums market is experiencing significant growth, driven by increasing demand across various sectors such as chemicals, pharmaceuticals, and food and beverages. These drums are essential for the safe and efficient storage, transport, and handling of materials, ensuring containment and integrity. The market is particularly buoyed by the chemical and petrochemical industries, which require robust and secure packaging solutions. The rise in production of paints, dyes, and inks in emerging markets, along with a focus on secure supply chains, is further propelling market expansion. The Asia-Pacific region is expected to lead in demand, with countries like China and India playing pivotal roles due to their manufacturing and export activities. The adoption of eco-friendly materials, such as fiber and paperboard, is also gaining traction, aligning with global sustainability trends.
The market landscape is characterized by high competition and differentiation, with key players like Greif Inc., Schütz GmbH & Co. KGaA, and Mauser Group BV leading the charge. Innovations in design, capacity, and application are crucial for gaining a sustainable competitive advantage. The expansion of manufacturing facilities and strategic acquisitions, such as Mauser Packaging Solutions' investment in South Africa and Greif Inc.'s increased ownership in Centurion Container LLC, highlight the industry's dynamic nature. Regulatory changes and the rising cost of raw materials are influencing market prices, but the ongoing shift towards recyclable and cost-effective packaging solutions is expected to sustain market growth. As international trade continues to expand, the demand for industrial drums is poised for further escalation, particularly in regions with burgeoning industrial activities.
Industrial Drums Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Consumers
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1.2.3 Threat of New Entrants
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1.2.4 Intensity of Competitive Rivalry
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1.2.5 Threat of Substitutes
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1.3 Industry Value Chain Analysis
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Steel Drum
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2.1.2 Plastic Drum
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2.1.3 Fiber Drum
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2.2 By End-user Industry
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2.2.1 Food and Beverage
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2.2.2 Chemicals and Fertilizers
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2.2.3 Pharmaceuticals
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2.2.4 Petroleum and Lubricants
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2.2.5 Other End User Industries
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2.3 By Geography***
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.3 Asia
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.4 Australia and New Zealand
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2.3.5 Latin America
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2.3.5.1 Brazil
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2.3.5.2 Mexico
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2.3.6 Middle East and Africa
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2.3.6.1 United Arab Emirates
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2.3.6.2 Saudi Arabia
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2.3.6.3 South Africa
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2.3.6.4 Egypt
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Industrial Drums Market Size FAQs
How big is the Industrial Drums Market?
The Industrial Drums Market size is expected to reach USD 13.83 billion in 2024 and grow at a CAGR of 5.69% to reach USD 18.24 billion by 2029.
What is the current Industrial Drums Market size?
In 2024, the Industrial Drums Market size is expected to reach USD 13.83 billion.