Steel Pails Market: Introduction and Need of the Product
Steel pails are effective packaging solutions for a variety of consumers and industrial products in different end-use industries, which include chemicals, lubricants, adhesives, fuel, solvents and the coatings industry. Steel pails offer good characteristics and reliable performance in any environment. They are widely used by end-user companies since decades for the storage and transportation of liquid or dry goods. Steel pails are available in a variety of shapes and sizes with different coatings on their surfaces to make them suitable for specific applications. Moreover, the manufacturers of steel pails are innovating in terms of product design and aesthetics, which will, in turn, help them stay competitive in the market. Some of the common types of steel pails available in the global market are rust prevention-coated steel pails, gold phenolic-coated steel pails, pigmented phenolic-lined pails, epoxy phenolic-lined pails, open-head steel pails, tight-head steel pails and galvanized steel pails, among others. Steel is a highly recyclable material and can be used repeatedly, which helps reduce environmental waste. Recycled steel material requires 95% less energy for processing as compared to virgin material.
Steel Pails Market: Market Dynamics
Steel pails are gaining significant traction for the bulk storage and transportation of a variety of products in the oil, chemical, adhesives, fuel, coating and solvents industries. It is the most effective alternative used today. The market is expected to grow significantly due to the high growth in each end-user industry. The chemical industry is expected to grow at a CAGR value of 2-3% during the next 3-4 years, which is expected to drive the steel pails market globally. However, some of the restraints in the market, such as the introduction of efficient alternative packaging solutions, are likely to hamper the growth of the market in the long-term. In some countries, plastic pails have replaced with steel pails for the packaging of paints and coatings due to their cheaper cost and good protection characteristics. With the introduction of new and innovative plastic pails for different end-use applications, the demand for steel pails is likely to witness a slight decline during the forecast period.
Steel Pails Market: Market Segmentation:
Steel Pails Market Segmentation: By Product Type
- Coated Steel Pails
- Enamel-Coated Steel Pails
- Gold Phenolic-Lined Steel Pails
- Pigmented Phenolic-Lined Steel Pails
- Epoxy-Phenolic Lined Steel Pails
- Uncoated Steel Pails
- Uncoated Steel Pails
Steel Pails Market Segmentation: By Head Type
- Open Head
- Closed Head
Steel Pails Market Segmentation: By Capacity
- Up to 3 Gallons
- 3 Gallon to 6 Gallons
- 6 Gallon to 9 Gallons
- More than 9 Gallons
Steel Pails Market Segmentation: By Sales Channel
Steel Pails Market Segmentation: By Product Application
- Liquid Goods
- Dry Goods
Steel Pails Market Segmentation: By End Use
- Oil & Lubricants
- Other Industrial
Steel Pails Market: Regional Overview
On the basis of region, the steel pails market has been segmented as North America, Latin America, Eastern Europe, Western Europe, APEJ (Asia-Pacific Excluding Japan), Middle East & Africa and Japan. Steel pails are extensively used in the chemical industry for the bulk storage of various liquids and dry goods. The consumption of steel pails is the highest in North America and European regions due to the high production capabilities of different end-use products in these regions. Steel pail manufacturers in these regions are focusing on offering innovative products to boost their market share and remain competitive in the market. Recent trends observed in the market include the introduction of steel pails equipped with customised lids for the efficient pouring of the liquid stored in them. End-user companies also prefer highly innovative and cost-effective solutions to meet the rapidly changing consumer demands. In Europe, the major portion of demand is primarily generated from the major countries such as Germany, Italy, the U.K. and France.
Steel Pails Market: Market Players
Some of the key players in the steel pails market are BWAY Corporation, The Cary Company, Lancaster Container, Inc., Cleveland Steel Container Corporation, Great Western Containers, Consolidated Container Company, BASCO, Inc., Berlin Packaging LLC and Darco Enterprises, Inc.
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