Global Fiber Barrels Market: Overview
Over the years, the demand for high-quality industrial packaging solutions has witnessed a significant thrust across the globe. Manufacturers readily prefer the eco-friendly packaging containers which are made with the use of renewable raw materials. One of such novel solution is the fiber barrels which satisfy the above criteria. Fiber Barrels offer cost-effective and lightweights packaging containers usually to handle medium to heavyweight jobs. Fiber barrels form ideal storage containers for products such as solids, granules, powder, semi-liquid as well as hazardous materials. Additionally, Fiber barrels are entirely recyclable by nature. Thus, major industries such as food & beverages, pharmaceutical, Industrial chemicals, etc. heavily rely on fiber barrels for storage and shipping of its products.
Global Fiber Barrels Market: Drivers & Restraints
Growth in demand for fiber barrels is anticipated to witness a robust growth over the coming decade for a number of reasons. A major trend that contributes to stimulate the growth of this fiber barrels market is the rising popularity and acceptance of biodegradable materials for end use packaging. Likewise the growing commodity trade among various countries across the globe is estimated to fuel the demand for fiber barrels over the forecast period.
Moreover, expanded use of larger size fiber barrels with enhanced performance and this also forms cost-effective container solutions compared to other available in the market. On the other hand, lack of product awareness between the product manufacturers is the key restraining factors that hamper the growth of the fiber barrels market. Additionally, growing number plastic alternatives which are comparatively less expensive than paperboard containers is another main restraining factor towards the growth of the global fiber barrels market.
Global Fiber Barrels Market: Segmentation
The global fiber barrels market is segmented as follows
On the basis of design of container, the global fiber barrels market is segmented into:
- Light-duty container
- Medium-duty container
- Heavy-duty container
On the basis of capacity, the global fiber barrels market is segmented into:
- Below 10 gallon
- Between 10 to 20 gallons
- Between 20 to 40 gallons
- Between 40 to 55 gallons
- Between 55 to 75 gallons
- Above 75 gallons
On the basis of applications, the global fiber barrels market is segmented into:
- Food & Beverages
- Paints, Inks & Dyes
- Pharmaceuticals & Cosmetic
- Industrial Chemicals
Global Fiber Barrels Market: Regional Overview
Geographically, the fiber barrels market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
The global fiber barrels market is likely to witness a blistering growth during the forecast period owing to the growing customer inclination towards the use of biodegradable packaging solution. North America, as well as the European region, likely showcases a moderate growth throughout the forecast period as the paperboard packaging market is well established in these regions. The APAC region is likely to be valued as the most lucrative marketplace for the growth of fiber barrels market as a result of increased end-use storage applications in the developing economies over the forecast period. Countries like China & India are expected to be the largest consumers of fiber barrels owing to growing demand from the manufacturing industry. Hence, in the near future, the fiber packaging market in emerging economies are likely to witness inclusive growth. Similarly, with growing application of fiber barrels in packaging of paints & inks of industrial chemicals in the Middle East & African regions are likely to create opportunities for the fiber barrels manufacturers over the forecast period.
Overall, the global fiber barrels market is estimated to grow at a healthy CAGR over the forecast period
Global Fiber Barrels Market: Key Players
Some of the key players that operate in the fiber barrels market across the globe are Youngstown Barrel & Drum Co., Mauser USA, LLC., Fibrestar Drums Limited., McManus Drum Company, Inc., Uline, Inc., BASCO, Inc., Lexington Container Company., Pack A Barrel., and many more.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.