Global Industrial Drum Market is segmented By Type (Open Head Drum, Closed Head Drum), By Material (Steel, Plastic, Fiber, Wood, Others), By Capacity (5-Gal, 8-Gal, 10-Gal, 16-Gal, 20-Gal, 30-Gal, 55-Gal, Others), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Market Overview
The Global "Industrial Drum Market" is predicted to reach at a high CAGR OF 7.5% during the forecast period (2022-2029).
Industrial drums are huge cylindrical industrial containers mainly used for storage and shipping applications, primarily for storing and transporting bulk goods, which are often liquids. As a result, industrial drum companies usually reinforced their drums with corrugations, called strengthening rings, of the thickened element at each quarter of the drum to reinforce the sides and prevent puncturing or denting when rolled or turned.
Moreover, industrial drums are highly reliable & durable and are widely utilized for transporting raw materials. In 2018, the Thailand government announced to spend over USD 44.89 billion for the next five years to increase the construction activities in the country. In addition, in the U.S., the government is planning several programs such as the Infrastructure for Rebuilding America Program (INFRA) to grow the construction activities in the country, further propelling the market growth that will boost the transportation of construction goods and will increase the industrial drum market during the forecast period.
Market Dynamics
The increasing inclination of consumers towards managing hazardous material, recognizing environmental safety & protection is triggering the demand for industrial drum in recent times. The adoption of automation creates a strong opportunity for the industrial drum market growth.
Rising demand for industrial drums in various end-user is expected to boost the market
The industrial drums market is anticipated to register significant growth during the forecast period due to rising global trade. In addition, rising product demand among various end-user sectors, manufacturers of materials, chemicals, and petroleum lubricants is expected to drive the growth of the global industrial drums market. Moreover, industrial drums are expected to become an economical means of transport packaging for delivery of other non-hazardous products, such as fruit juices, wines, etc. In addition, prominent industrial packaging manufacturers have coupled with local and international plastic packaging manufacturers to expand their product range and meet the growing demand from various end-use industries.
Increasing demand for industrial drum from pharmaceuticals and chemical industry is expected to boost the market growth
The pharmaceutical and chemical segment is expected to witness significant growth during the forecast period. Globally, it is eminent for the industries to manage hazardous materials, recognizing environmental safety and protection. Thus, the rapid expansion of pharmaceutical and chemical industries across the globe is consequently driving the demand for industrial drums. In 2018, Europe was the highest exporter of chemical products, with an export value of about USD 409.90 billion, up from USD 397.56 billion in 2017. In addition, the chemical and fertilizers industry is expected to emerge as the largest end-user of industrial drums over the forecast period (2027) and is expected to account for a share of over 46.89% in the market.
Adoption of automation and complexity in the supply chain is expected to hinder the market growth
The adoption rate of automation technology in the production process of industrial drums is slow and is expected to impact the growth of the global market during the forecast period. Complexities in the supply chain are a challenge as the manufacturers struggle to reject the demand variability. Continuous pressure to reduce product costs while redefining overall product offering is also expected to influence the market growth during the forecast period.
Segment Analysis
By material, the market is segmented into steel, plastic, fiber, wood and others.
Steel drum's superior mechanical properties, such as good protective properties, high strength, gas barrier properties, and excellent processing performance, are expected to be key factors in terms of usage. Moreover, it can be rolled into various thicknesses of the sheet, foil, sheet stamping, welding, rolling and stretching made of different shapes and sizes of the packaging container.
In addition, the increase in the demand for petroleum and chemicals lubricants from various end-user industries and a significant focus on extending the supply chain capability is expected to drive the demand for industrial metal drums. Steel drums are also utilized as packaging solutions for storing & transporting dangerous or hazardous goods. Additionally, the US Department of Transportation registered that steel drums are the most reliable containers. The chemical industry is also anticipated to hold a significant share of the steel drum market owing to safe packaging solutions. According to the METI, Japan, the production volume of steel drum containers raised from 321.07 thousand metric tons in 2012 to 339.27 thousand tons in 2018.
Geographical Analysis
Based on the geography, the industrial drum market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa. The demand for industrial drum in the North American market is expected to remain at the dominant position in sales and value generation due to the growing volume of trade and e-commerce in countries such as the U.S.
The Asia Pacific is expected to register significant growth during the forecast period
Asia Pacific market is expected to register a significant growth rate in the industrial drums market during the forecast period due to the wide use of industrial drums in wine and vegetable oil export. In addition, oil exporters in the Southeast Asian region, such as Malaysia & Indonesia, prefer industrial drums to other packaging solutions. Moreover, industrial drums offer cost-effective solutions, high efficiency and operational effectiveness in transporting significant products in liquid form.
In China, the government is channelizing efforts to raise capital investment in oil production by 19.89%; currently, the country produces nearly 3.98 million barrels of oil per day. India China is the leading producer of palm oil in the region. In 2017, Indonesia’s total export value of palm oil reached USD 18.19 billion. In addition, China has been the world's largest exporter of goods since 2009. The exports of China in 2018 estimated revenue of USD 2,486.68 billion.
The North American market is also expected to achieve a significant revenue share in the global industrial drums market during the forecast period due to the growing demand for chemicals and fertilizers from several industries.
Competitive Landscape
The industrial drum market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream application. B. Stephen Cooperage Inc., MegaChem, Inc., Greif Inc., Mauser Group NV, SCHĂśTZ GmbH & Co. KGaA, Time Technoplast Ltd, FDL Packaging Group, Fibre Drums., Rahway Steel Drum Company, Inc., Jakacki Bag & Barrel, Inc. are the major player in the packaging market. The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the industrial drum market globally.
B. Stephen Cooperage Inc.
Overview: The company is committed to environmental quality, protection and occupational safety. Its activities help to reduce the impact of waste on the environment. Instead of dumping containers, the company recondition them for reuse as the industrial container or, if required, recycle them for a new tenacity in the secondary market.
Product Portfolio:
- 55 Gallon Open Top Black Steel Drum – Reconditioned
- These fifty-five-gallon containers are dual U/N rated for both liquid and solid hazardous material storage. They may be utilized for liquid materials that are rated packing group II or III and solid materials that are packing group II, or III. They feature a heavy bolt ring and a white steel cover (with or without bungs). They are rated to safely hold up to 55 gallons of material with a specific gravity of 1.2 and 400 kg (880 lbs) of solid hazardous material.
- U/N number: 1A2/Y1.2/100 and 1A2/Y400/S
- Capacity: 55 Gallons
- Material: Carbon Steel
- Openings: Removable lid with a heavy bolt ring (with or without bungs)
- Color: Black body with a white lid
- Condition: Reconditioned
- Diameter: 24″
- Height: 34″
- 40 Gallon Open Top Kraft Fiber Drum
- These forty Gal Open Head Fiber Barrels are not U/N rated for hazardous material storage. These drums feature a removable plastic lid with bungs and a lever lock ring that can be tamper sealed using a wire seal. In addition, they feature a polyethylene liner for shipping non haz liquid and semi-liquid materials. They have a capacity of 600 lbs.
- U/N number: None
- Material: Fiber Paper
- Openings: Removable plastic lid with a steel lever lock ring
- Color: Kraft Brown
- Capacity: 600 lbs.
- Liner: 6 mil polyethylene
- Diameter: 22″
- Height: 35″
The global industrial drum market report would provide access to an approx. 69 market data table, 73 figures and 180 pages.
