Global Barrels Market: Snapshot
With the increasing requirement of speedy yet safe delivery of products in bulk, the global barrels market is reporting high growth in terms of value and volume. Barrels are extensively utilized across a number of industries, such as the food and beverage, chemicals and petroleum, and the pharmaceuticals sectors. According to researchers, the market is witnessing an augmenting demand from all of these sectors.
Especially, the chemicals and petroleum industry is reporting a significantly higher demand for barrels across the world. Since chemicals are extremely sensitive to external conditions, including, pressure, temperature, and moisture, ensuring effective packaging is must for their safe transportation. As warehouse barrels offer outstanding insulating effect, they have emerged as ideal products for the packaging of chemicals. Apart from this, the growing uptake of shale gas as feedstock in the manufacturing of various chemicals, owing to the cost benefit it offer, is also reflecting positively on the demand for barrels.
The swiftly expanding chemicals and petroleum industry has a wide set of requirements for the packaging and transportation of products to the point of sale and end-use markets, which is likely to stimulate the adoption of barrels, influencing the overall market in the years to come.
Barrels Market: Introduction
Packaging is an indispensable part of any product’s lifecycle and it prevents the product from any kind of damage such as defilement, leakage and others during its transportation, utilization and storage. Rigid bulk packaging is one type of packaging which is used for packaging goods such as chemicals, food & beverage products and pharmaceutical items. Barrel is the oldest form of packaging and along with drum is classified under the rigid bulk packaging. Barrels are primarily used in chemicals and petroleum industry, food, and pharmaceuticals industry. They exhibit excellent insulating properties which makes them ideal for storing chemicals. They are also used for protection and transportation of products. Chemical and petroleum is the largest market utilizing barrels for storage purposes. Barrel demand has been on a rising spree post the economic slowdown in 2008. Moreover, the availability of barrels in variable shape, and sizes makes them suitable for a wide range of industrial packaging purposes. The barrels market is anticipated to experience strong growth over the forecast period.
Barrels: Market Dynamics
Key driver of the barrels market is the increasing need for the safe and fast delivery of bulk products. The wide product portfolio offered by the manufacturers in terms of variable shape and sizes is also driving the growth of the global barrels market. Factor restraining the growth of the barrel market is the volatile nature of the raw material used for making barrels, for e.g., oak when burnt releases volatile substances which is impacting the growth of the global barrels market. The rising demand for packaging solutions which is highly cost effective and efficient is anticipated to create an opportunity for the global barrels market over the forecast period. One important trend prevailing in the global barrels market is the growing traction of recyclable raw materials for manufacturing barrels. One of the major reasons for the growth of the global barrels market is the shift from traditional materials to biodegradable materials for manufacturing barrels due to implementation of strict environmental policies globally directed at reducing the carbon footprint.
Barrels: Market Segmentation
The global barrels market is segmented on the basis of product type, end use industry and size. On the basis of product type, the barrels market is segmented into plastic, steel, and fiber barrels. Barrels made up of plastic material are more prominent as compared to the steel barrels. On the basis of end use industry, the barrels market is segmented into chemical and petroleum industry, food and beverage industry, and pharmaceutical industry. The chemical and petroleum industry has the largest share in the global barrel market due to its wide adoption for storing, handling and distributing chemicals. The demand for barrels in the food and beverage industry is mainly driven by breweries where barrels are used for the aging of wine. On the basis of size, the global barrels market is segmented into large barrels, intermediate, and small barrels.
Barrels Market: Regional Outlook
Geographically, the global barrels market is segmented into Latin America, Middle East & Africa, Asia Pacific, North America and Europe. Asia Pacific market is currently dominating the global barrels market followed by North America and Europe. North America is anticipated to experience steady growth over the forecast period owing to the escalated demand for barrels from food and beverage industry especially the wine manufacturers.
Barrels Market: Key players
Key players in the global barrels market are Greif Inc., Berenfield Containers Inc., Jakacki Bag & Barrel Inc., E-Con Packaging Pvt. Ltd., Mauser Packaging Corporation, Schutz, and Sonoco.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.