Plastic Drums Market
Plastic Drums Market (Capacity Type - Upto 35 Gallon, 35-60 Gallon, 60 Gallon & Above; Product Type - Open Head Drums, Tight Head Drums; End Use - Food & Beverage, Chemicals & Fertilizers, Building & Construction, Pharmaceuticals, Paints & Lubricants) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2027
Press Release :
The global market for plastic drums was valued at US$ 2,223 million in 2017. The global plastic drums market is forecast to expand at CAGR of 5.0%.
Plastic drums are used for transportation and storage of industrial products which requires an appropriate handling of the filling product. Plastic drums can be made up of high-density polyethylene or polypropylene. However, polyethylene is majorly used for manufacturing plastic drums. Food grade and UN-certified plastic drums are used for food & beverages and hazardous chemicals industries. Plastic drums are stacked on pallets and can be efficiently handled during shipment. Plastic drums hold an appropriate share in the intermediate bulk containers market. These drums can be re-used nearly 30 times with repeated reconditioning. Demand for petrochemicals in the developing regions such as the Asia Pacific and Latin America is boosting the plastic drums market. Plastic drums are specifically designed with handles and some of them have strong closures for better handling and protection of the filling products. The plastic drums market is set to experience high growth in the upcoming years, as the cost-effectiveness of plastic is providing convenience to the consumers. Earlier, larger metal drums were used to ship containers for oil, juice, and other liquid products, but now plastic drums are steadily replacing other industrial packaging options. Companies provide auto lock systems in plastic drums to enhance their capabilities.
Intermediate bulk container packaging has made it possible for the shipping industry to transport large volume products without denting a hole in their pockets. Plastic drums offer several advantages which include re-usability and cost-efficiency, leading to their wide range of applications across various regions of North America. The global plastic drums market is estimated to have significant growth during the forecast period, as the demand for petrochemicals is increasing in the Asia Pacific region. From conventional designs to improved innovative designs, the global plastic drums market is again witnessing a transition where not only the buyers from developed markets, but also from developing markets are opting for plastic drums. Global trade of industrial products has also increased during the past decade, necessitating the use of plastic drums by non-traditional industries.
The global plastic drums market is segmented as per capacity type, product type, and end use. On the basis of capacity type, the global market for plastic drums is segmented into less than 30 gallons, 30-60 gallons, and 60 gallons & above. On the basis of product type, global plastic drums market is segmented into open-head plastic drums and closed-head plastic drums. On the basis of end use, the global plastic drums market is segmented into food & beverage, pharmaceuticals, building & construction, chemical & fertilizers, and paints & lubricants.
Recent Developments & Trends in the Plastic Drums Market
Manufacturers are introducing new processes and products along with secure packaging solutions for industrial packaging. Companies such as Schutz Container Systems, Inc. and Mauser Group B.V. are introducing new products and security systems to enhance the performance of their drums. Manufacturers in the plastic drums market are also looking for certifications to provide the highest level of food safety.
Mauser Group B.V., a leading player in industrial packaging is distributing Drumguard Quattro security by Strauch GmbH from Germany for optimum load security. This system is suitable for steel, fiber, and plastic drums. The demand for protective packaging is increasing the need for effective and secure packaging solutions.
Schutz Container Systems, Inc. is providing different types of specifications in PE drums as well as focusing on installing new manufacturing plants in different regions.
- Recently, the company opened a new Intermediate bulk containers manufacturing facility in Thailand, which is built to fully comply with requirements of FSSC 22000 industry standards.
- The company is providing a wide range of options in plastic drums to prevent contamination. The drums also have an anti-permeation layer inside to ensure product safety.
The chemical & fertilizers segment in the global plastic drums market is expected to expand at a CAGR of 5.9% during the forecast period. The segment is valued at US$ 1,048.2 Million in the year 2017. The tight head drums segment in the global plastic drums market is estimated to be valued at US$ 834.3 Million in 2017. Asia Pacific excluding Japan region in plastic drums market is expected to be valued at US$ 905.8 Million in the year 2022 and is anticipated to expand at a CAGR of 5.1% during 2019-2027.
Greif Packaging LLC, CurTec Holdings B.V., Mauser Packaging Solutions, Schutz Container Systems, U.S. Coexcell Inc., Interplastica, Industrial Container Services, AST Plastic Containers, KODAMA PLASTICS Co., Ltd., Industrial Packaging Limited, RPC Group Plc, CL Smith Company, GREAT WESTERN CONTAINERS INC., TPL Plastech Ltd., Vallero International S.r.l., Remcon Plastics Incorporation, Orlando Drum & Container Corporation, and Hazmatpac, Inc. are key players in the plastic drums market.
Plastic Drums Market to Witness Significant Growth Owing to Increasing Demand for Industrial Products
Plastic drums hold a significant share in the bulk containers market as well. This serves as a key factor promoting the growth of the global plastic drums market. Plastic drums are utilized for transportation and capacity of modern items which requires a fitting treatment of the filling item. Plastic drums can be comprised of high-thickness polyethylene or polypropylene. In any case, polyethylene is significantly utilized for assembling plastic drums. Food evaluation and UN-guaranteed plastic drums are utilized for food and refreshments and risky synthetics ventures. Plastic drums are stacked on beds and can be productively dealt with during shipment.
Segmentation of the global plastic drums market include categories such as product type, capacity type, end use, and region. In terms of end use, the market is classified into building & construction, pharmaceuticals, paints & lubricants, chemicals & fertilizers, food & beverage, and others. Regionwise, the market is dominated by North America on account of the presence of major market players. In the coming years, Asia Pacific is expected to witness lucrative growth opportunities for this market owing to the rise in global trade for industrial products.
These drums can be re-utilized almost multiple times with continued reconditioning. Interest for petrochemicals in the creating locales, for example, the Asia Pacific and Latin America is boosting the plastic drums market. Plastic drums are explicitly planned with handles and some of them have solid terminations for better taking care of and security of the filling items. The plastic drums market is set to encounter high development in the forthcoming years, as the cost-viability of plastic is giving comfort to the buyers. Prior, bigger metal drums were utilized to transport compartments for oil, juice, and other fluid items, however now plastic drums are consistently supplanting other mechanical bundling choices. Organizations give auto lock frameworks in plastic drums to upgrade their abilities.
In this report, Transparency Market Research offers a 9-year forecast of the global plastic drums market between 2018 and 2027. In terms of value, the global plastic drums market is expected to expand at a CAGR of 5.0% during the forecast period. The study reveals plastic drums market dynamics in six geographic segments along with a market analysis for the current market environment and future scenario over the forecast period.
This Transparency Market Research report studies the global plastic drums market for the period 2018–2027. The prime objective of this report is to offer insights and key market trends pertaining to the plastic drums market that are gradually helping transform global businesses.
The global plastic drums market report begins with the executive summary for various categories and their share in the plastic drums market. This section includes the crux of the report which includes how the market is affected by different factors. It also includes global value and volume for the duration 2013-2018 and 2019-2027. The Y-o-Y is also provided for a better understanding of the market, which is further explained by the graphical representation of global plastic drums market. It is followed by market dynamics and overview of the global plastic drums market, which includes TMR analysis of market drivers, restraints, opportunity analysis, and trends that are affecting the growth of the plastic drums market.
The global market for plastic drums is further segmented as per capacity type, product type, and end use. On the basis of capacity type, global market for plastic drums is segmented into less than 30 gallons, 30-60 gallons, and 60 gallons & above. On the basis of product type, the global market for plastic drums is segmented into open-head plastic drums and closed-head plastic drums. On the basis of end use, the global market for plastic drums is segmented into food & beverage, pharmaceuticals, building & construction, chemical & fertilizers, and paints & lubricants.
The next section of the report highlights the USPs of plastic drums and provides information about raw material manufacturers, plastic drum manufacturers, distributors, and suppliers in the market. Each section in the value chain includes some of the listed examples for a better understanding of the whole supply chain along with a profitability margin validated by the primary interviews taken by Transparency Market Research. Another section in the plastic drums market report includes data about key participants and is titled as intensity mapping analysis. This point includes information about manufacturers, distributors, and suppliers of plastic drums, along with their presence in North America, Latin America, Europe, Asia Pacific excluding Japan, Middle East & Africa, and Japan. Porter’s Analysis is another added point in the plastic drums market report which dictates how the number of manufacturers affects the whole market scenario. Basically, Porter’s analysis covers level of bargaining power of supplier, bargaining power of buyers, threat of new entrants, threat of substitutes, and rivalry among all the competitors listed. This analysis shows how manufacturers should prepare before entering a whole new market. PESTLE analysis includes a political, economic, social, technological, legal, and environmental analysis of all the regions. This analysis dictates the effect of all these factors on the plastic drums market. The significance of rigid plastic packaging and its growth scenario can be observed accordingly. A pricing analysis is provided in the report in accordance with different regions and capacity type segments. The prices for all capacity type segments in all regions including North America, Latin America, MEA, APEJ and Europe are provided. The USPs of the report also includes parent/associated market outlook, which is analysed by Transparency Market Research.
The next section of the report highlights the plastic drums market, by region, and provides the market outlook for 2018–2027. The study investigates the Y-o-Y growth regionally, as well as analyses the drivers that influence the regional plastic drums market. Main regions assessed in this report include North America, Latin America, Europe, Asia Pacific excluding Japan, Japan, and the Middle East & Africa (MEA). The report (Global Plastic Drums Market) evaluates the present scenario and growth prospects of the regional plastic drums market for 2018–2027.
To ascertain the plastic drums market size in terms of value and volume, the revenue generated by the key manufacturers and their respective production capacity is taken into consideration. The forecast presented here assesses the total revenue generated by value, across the plastic drums market. In order to provide an accurate forecast of the plastic drums market, we initiated by sizing up the current market, which forms the basis on how the plastic drums market is expected to develop in the future. Given the characteristics of the plastic drums market, we triangulated the outcome on the basis of three different types of analysis; based on supply side, downstream industry demand, and the economic envelope. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the plastic drums market and identify the right opportunities across the market.
In the final section of the report on the plastic drums market, the ‘dashboard view’ of the companies is provided, to compare the current industrial scenario and its contribution to the total plastic drums market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers in the plastic drums market specific to a market segment. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on an in-depth assessment of their capabilities and success in the plastic drums marketplace.
Geographical segmentation of the plastic drums market