The global Industrial Drums Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2029. Industrial drums are primarily used for storing and transporting materials for mass freight delivery. Industrial drums are commonly classified into three types based on their materials: steel drums, plastic drums, and fiber drums. The Industrial Drums market is expanding because of factors such as the rising Petroleum, Chemical, and fertilizer industries and focus on strengthening supply chain capabilities by end users

According to Statista in 2022, the production of crude oil globally is rising, and produced around 4.2 billion metric tons by 2021. In 2018, oil production was around 4.5 billion metric tons. Also. the chemical industry generated revenue of around USD 4.73 trillion in 2021. Whereas rising investment by end-user industries & growing R&D activities by market players create lucrative opportunities for the market. However, fluctuating prices of raw materials hamper the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Industrial Drums Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the increasing demand for sophisticated packaging solutions for products, rising usage and investment for industrial drums by end-user industries Whereas the Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising innovation and growth activities by market players, growing petroleum, chemical and fertilizer industry in the forecast period

Major market players included in this report are:

Greif Inc.

Sicagen India Ltd

Balmer Lawrie & Co. Ltd

Time Technoplast Ltd

Schutz GmbH & Co. KGaA.

Mauser Packaging Solutions

TPL Plastech Limited

Peninsula Drums

Eagle Manufacturing Company

U.S. Coexcell Inc.

Recent Developments in the Market:

In January 2022, Greif, Inc. announced a $50 per tonne price increase for all grades of uncoated recycled paperboard (URB), as well as a minimum 6.0 percent price increase for all tube and core and protective packaging products. The increases in tube and core and protective packaging products will take effect with shipments beginning on or after March 4, 2022.
In April 2022, Encore Container, a plastic drum industry leader, announced that it is diversifying its product portfolio to serve new customers in new markets, beginning with the production of 77-gallon plastic drums in January and continuing with additional expansions later this year.
Global Industrial Drums Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered: Product, End-user Industry, Region

Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:

Steel Drums,

Plastic Drums,

Fiber Drums

By End-User Industry:

Food and Beverage,

Chemicals and Fertilizers,

Pharmaceuticals,

Petroleum and Lubricants

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World