Industrial Drums Market Segments, Opportunity, Growth and Forecast by End-use Industry 2023-2032
The global industrial drums market is on a high growth trajectory and is expected to reach new heights in the coming years. The market is being driven by the increasing demand for drums for various industrial applications, including transportation, storage, and processing of liquids and other materials.
The industrial drums market is estimated at US$ 12.5 Bn in 2022 and is projected to reach US$ 17.6 Bn by 2027, at a CAGR of 7.1% from 2022 to 2027.
One of the key factors contributing to the growth of the market is the rise in demand for industrial drums made of high-density polyethylene (HDPE). These drums offer a number of benefits over traditional metal and fiber drums, including improved durability, lighter weight, and greater resistance to corrosion and chemicals. The widespread adoption of HDPE drums in a variety of industries is expected to drive the growth of the market.
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The growing demand for drums with advanced features such as tamper-evident closures, integrated pouring spouts, and custom labeling options is another factor that is driving the growth of the market. These features help to improve the safety, security, and convenience of using drums for industrial purposes.
The Key Players Are:
- Greif, Inc.
- Mauser Group B.V.
- Schutz Container Systems, Inc.
- Sicagen India Limited
- Myers Container, LLC
- Eagle Manufacturing Company
- Time Technoplast Ltd
- Balmer Lawrie & Co. Ltd.
- TPL Plastech Limited
- U.S. Coexcell Inc.
- The Metal Drum Company
- Three Rivers Packaging, Inc.
- Patrick J. Kelly Drums, Inc.
- Fibrestar Drums Ltd.
- Great Western Containers Inc.
- Orlando Drum & Container Corporation
- A W Stokes & Son (Drums) Ltd.
- Peninsula Drums Cc
- Muller AG Verpackungen
- Industrial Container Services, LLC
Another key driver of the market is the increasing focus on sustainability and environmental protection. Many companies are investing in the development of eco-friendly drums made of biodegradable materials, which are expected to gain traction in the coming years.
Overall, the global industrial drums market is expected to continue its growth trajectory in the coming years, driven by increasing demand for high-quality and sustainable drums for various industrial applications. Companies in the market are expected to invest in the development of advanced and eco-friendly products to meet the evolving needs of their customers.
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