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.
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