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Industrial Drums Market
Industrial drums, also called as barrels, are mainly used for the transportation of various products that are in either fluid or powder form. Generally, industrial drums are manufactured using fibers, steel, or plastic material. The global industrial drums market is all set to experience promising sales opportunities during the forecast period of 2020–2030. This growth is owing to increased use of industrial drums in a wide range of industries.
An upcoming research report from TMR on the global industrial drums market provides inclusive analysis of important elements such as drivers, restraints, opportunities, and challenges in this market. This aside, this report delivers dependable data on competitive landscape together with regional assessment of the market for industrial drums. Thus, this report is a valuable guide on the industrial drums market for the tenure of 2020 to 2030.
The report carries out segmentation of the global industrial drums market is based on numerous key factors including capacity, end use, and region. Depending on capacity, the market for industrial drums is classified into above 500 liters, 250 to 500 liters, 100 to 250 liters, and 100 liters.
Industrial drums are gaining traction across varied end-use industries. Key reason attributed to this popularity is their ability to offer superior operational competence as well as efficiency in shipping various types of liquid products. In addition to this, major companies from various sectors are growing use of industrial drums as they are considered as a cost-effective solution for the transportation of their products. Thus, growing use of industrial drums in the shipment of various non-hazardous materials including fruit juices and wines will impact positively on the industrial drums market growth in the years ahead.
Industrial drums are in high demand in various end-use industries such as building & construction, food & beverages, paints, chemicals & fertilizers, pharmaceuticals, inks & dyes, and petroleum & lubricants. Thus, increased use in above-mentioned sectors is stimulating sales of the global industrial drums market.
The global industrial drums market holds presence of many active players. As a result, the competitive landscape of the market for industrial drums is highly intense. Vendors working in this market are executing diverse tactics to retain their leading market position. Several companies working in the global industrial drums market are growing focus on incorporation of advanced technologies in their production houses. At the same time, many enterprises in the market for industrial drums are concentrating on the production of superior quality industrial drums. All these activities are suggestive of speedy growth of the global industrial drums market in the years ahead.
The list of key players in the global industrial drums market includes:
The industrial drums market is active in five key regions, namely, the Middle East and Africa, North America, Europe, Latin America, and Asia Pacific. Of them, Asia Pacific is one of the lucrative regions of the market for industrial drums. Key reason attributed to this growth is presence of emerging economies such as India and China in this region. This aside, growing use of industrial drums in the transportation of wines and vegetable oil is stimulating sales opportunities in the Asia Pacific industrial drums market.
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