Global Plastic Drums Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of 6.5% during forecast period.
Plastic drums are expected to have escalated demands owing to the evolution of industries which in turns increased the quality packaging at economical rates. The government norms for the adoption of biodegradable materials are expected to enhance the growth of the global plastic drums market further. With the increased demand for chemicals and pharmaceuticals, the plastic drums market will have an amazing growth rate.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Plastic drums meet the requirement of chemical and pharmaceutical manufacturers owing to lightweight, durable, reliable yet cost-efficient rigid packaging product. Plastic drums market are expected a high upsurge because of the appropriateness of plastic drums for liquid packaging. Also, plastic drums are usually unreactive to the chemical, oil, and lubricant present inside it. Availability of different color options and ease of printing on plastic drums make them convenient for both the manufacturers besides the consumers.
A significant trend driving the growth prospects for plastic drum market is the growing popularity and increasing adoption of biodegradable rigid plastic for packaging. Biodegradable plastics are easily decomposed by microorganisms, thus reducing the detrimental effect they have on the environment compared to conventional plastics.
The chemical & fertilizers segment in the global plastic drums market is expected to expand at the largest CAGR during the forecast period. Plastic drums which are non-conducive to electrical flow are increasing in demand in hazardous areas such as chemical plants, construction projects, factories, etc. Also, various plastic drums today include a conductive layer on the outside to prevent the build-up of electric charge. Furthermore, plastic drums also offer sensitive handling options with scope for fluorination process for end-use industries.
Region-wise, the Asia Pacific plastic drums market is estimated to have significant growth during the forecast period, owing to the huge demand for petrochemicals in the region. Demand for petrochemicals in the developing regions of South America will propel the growth of the plastic drums market in the region. Europe, Middle East and Africa markets have massive growth potential.
Several leading players operating in the plastic drums market some of these are Greif Packaging LLC, CurTec Holdings B.V., Mauser Packaging Solutions. Mauser Group B.V., a prominent player in industrial packaging is distributing Drumguard Quattro security by Strauch GmbH from Germany for optimum load security. This system is proper for steel, fiber, and plastic drums. The demand for protective packaging is growing the need for effective and secure packaging solutions.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Plastic Drums Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Plastic Drums Market.
Scope of the Global Plastic Drums Market
Global Plastic Drums Market, By Capacity Type
- Upto 35 Gallon
- 35-60 Gallon
- 60 Gallon & Above
Global Plastic Drums Market, By Product Type
- Open Head Drums
- Tight Head Drums
Global Plastic Drums Market, By End-use
- Food & Beverage
- Chemicals & Fertilizers
- Building & Construction
- Pharmaceuticals
- Paints & Lubricants
Global Plastic Drums Market, By Materials
- Polypropylene (PP)
- Polyethylene (PE)
- Other Materials
Global Plastic Drums Market, By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
Key players operating in Global Plastic Drums Market
- Greif Packaging LLC
- CurTec Holdings B.V.
- Mauser Packaging Solutions
- Schutz Container Systems
- U.S. Coexcell Inc.
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