Industrial Drums Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 13.83 Billion |
| Market Size (2029) | USD 18.24 Billion |
| CAGR (2024 - 2029) | 5.69 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Industrial Drums Market Analysis
The Industrial Drums Market size is estimated at USD 13.83 billion in 2024, and is expected to reach USD 18.24 billion by 2029, growing at a CAGR of 5.69% during the forecast period (2024-2029).
- Industrial drums are increasingly in demand in the chemical and petrochemical lubricants market. Their appeal lies in their robustness, gas barrier capabilities, and ease of use, which are expected to propel demand across the industry during the forecast period.
- The petrochemical sector, in particular, is emphasizing the need for secure packaging to safeguard its products. Concurrently, the surge in paints, dyes, and ink production in emerging markets, coupled with a heightened emphasis on secure supply chains, is expected to further bolster demand. Notably, as investments in production equipment rise, the industrial drum market stands to gain significant growth opportunities.
- While the APAC region is poised to dominate drum demand, regions like the Middle East and Eastern Europe are increasingly influencing the global landscape, especially with notable advancements in Eastern Europe. For example, in March 2023, Mauser Packaging Solutions underscored this trend by inaugurating a state-of-the-art manufacturing plant in China's Haiyan Economic Development Zone near Shanghai. This move aligned with the region's escalating industrial packaging needs, ensuring readiness for both current and future market demands.
- Industrial drums play a pivotal role in the intermediate manufacturing processes of key sectors like chemicals, pharmaceuticals, and food and beverages. They not only enable safe and efficient storage, transport, and handling of materials but also ensure containment and integrity, thereby enhancing production workflows and regulatory compliance.
- Furthermore, fiber drums are gaining traction in the chemical and fertilizer sectors, offering enhanced productivity and cost savings. With a surge in fertilizer and chemical trade between nations, the demand for diverse industrial drums is set to escalate.
- While regulatory changes are nudging industrial drum prices upwards, impacting consumption and market growth, manufacturers are increasingly turning to eco-friendly packaging materials. Fiber and paperboard, with their eco-conscious appeal and high recyclability rates, are witnessing a surge in adoption across regions.
Industrial Drums Market Trends
Increasing Demand from the Chemical and Fertilizers and Petroleum Lubricant Industry to Drive the Market
- Industrial drums play a pivotal role in the transportation and storage of hazardous and non-hazardous materials. They are primarily used in the chemical, fertilizer, oil, and petroleum sectors. The market for industrial drums is witnessing a surge, largely propelled by the sustained expansion of these industries and the escalating international trade over the last decade.
- As reported by The Economic Times in May 2024, the Indian chemicals market, valued at USD 220 billion in 2023, is on a trajectory to reach USD 383 billion by 2030, boasting an anticipated CAGR of 8.1% from 2021 to 2030. India, ranking sixth globally in chemical sales, has been a magnet for substantial foreign direct investments (FDI), amassing a total of USD 21.7 billion from April 2000 to September 2023. The nation's Petroleum, Chemical, and Petrochemical Investment Regions (PCPIRs) are poised to attract investments totaling USD 420 billion, underscoring the sector's robust potential and, consequently, bolstering the demand for chemical drums.
- Additionally, the chemical industry's increasing adoption of fiber drums is a significant driver of market growth. These drums, used for a variety of goods such as adhesives, dyes, and even hazardous chemicals, stand out for their eco-friendliness, being recyclable, and often a more cost-effective choice compared to their plastic and steel counterparts.
- According to a report by World Oil in April 2024, the International Monetary Fund predicts a gradual rise in oil production by OPEC and its partners starting in July. This shift is poised to propel Saudi Arabia back into the league of the world's fastest-growing economies. The IMF projects that Saudi oil production, currently hovering near a three-year low of 9 million barrels per day (MMbbl), will climb to 10 MMbbl in early 2025. Notably, Saudi Arabia asserts its production capacity stands at around 12 MMbbl, a level seldom touched in the past decade.
- Furthermore, the chemical and fertilizer industries are increasingly turning to fiber drums to enhance productivity and trim costs. With a surge in fertilizer and chemical trade between nations, the demand for various industrial drums, including those in the petroleum lubricant sector, is expected to escalate.
Asia-Pacific Accounts for the Largest Market Share
- Asia-Pacific's industry and manufacturing sector is in a phase of rapid evolution and is increasingly turning to industrial drums. This shift is driven by manufacturers expanding into emerging economies like China, India, and Indonesia. Notably, China is witnessing a surge in fiber drum production, establishing its dominance in value over countries like Malaysia and Singapore.
- Local and prominent players, recognizing the need for sophisticated packaging, are elevating the quality of fiber drums. This trend is further fueled by a burgeoning retail sector and a clear preference for lightweight, eco-friendly options like recyclable fiber drums. Their recyclability stands as a key advantage, painting a positive outlook for the Asia-Pacific fiber drums market.
- With a rising export of wines and vegetable oils, the industrial drums market in the region is poised for continued growth. Notably, Asian oil exporters, including those from China and India, favor industrial drums over other bulk packaging options. Moreover, the substantial palm oil exports from these nations are expected to further boost the demand for industrial drums.
- Asian nations, particularly China and India, known for their manufacturing output, are ramping up their export volumes. This is being facilitated by the adoption of efficient storage, transport, and packaging solutions. For instance, during FY 2022-2023, India's chemical and petrochemical exports reached USD 8.24 billion, as reported by the India Trade Portal. Such robust export figures are directly translating into heightened demand for containers, thereby positively influencing the industrial drum market.
- Highlighting India's industrial prowess, the country produced a substantial 125.32 million metric tons of crude steel in 2023, as per the India Brand Equity Foundation. This significant steel output not only bolstered the industrial drums market by ensuring a steady supply for construction and maintenance needs but also played a pivotal role in the packaging industry. With steel's availability, the industry gains a reliable source for crafting durable and recyclable packaging, furthering sustainability initiatives.
Industrial Drums Industry Overview
The industrial drums market is characterized by differentiation, growing levels of product penetration, and high levels of competition. Sustainable competitive advantage can be gained through innovation in design, capacity, and application. The penetration rates of these products grow due to their increasing adoption by end-users, including chemicals and fertilizers, and the rates are expected to grow further during the forecast period. Some of the key players in the market include Greif Inc., Schütz GmbH & Co. KGaA, and Mauser Group BV.
- February 2023: Mauser Packaging Solutions expanded its product offering in South Africa by investing in state-of-the-art plastic drum manufacturing equipment. Based in Durban, South Africa, the new line manufactures UN-certified, tight-head polyethylene barrels in sizes 210 l, 232 l, and 250 l. Plastic barrels are available in mono-layer or multi-layer formats and are ideal for chemical, food, oil, and lubricant use.
- January 2023: To increase the output of open-head steel drums, SCHÜTZ Container Systems expanded its steel drum manufacturing facility in Houston, United States. This expansion and service offering provide local customers with a complete selection of new and reconditioned IBCs, PE, and steel drums.
Industrial Drums Market Leaders
Greif Inc.
Sicagen India Ltd
Balmer Lawrie & Co Ltd
Time Technoplast Ltd
Mauser Packaging Solutions
*Disclaimer: Major Players sorted in no particular order
Industrial Drums Market News
- May 2023: Novvia Group, a global rigid container and life sciences packaging distributor, acquired Rahway Steel Drum Company, a New Jersey-based distributor of drums, pails, IBCs, and other rigid packaging solutions. The acquisition represents Novvia’s expansion into the Northeast.
- April 2023: Greif Inc., a global leader in industrial packaging products and services, announced it had completed an acquisition, which increased its ownership in Centurion Container LLC, a leader in North American intermediate bulk container and plastic drum reconditioning, from 9% to 80% in an all-cash transaction for USD 145 million.
Industrial Drums Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Industry Value Chain Analysis
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Demand for Industrial Drum from the Chemical and Fertilizers and Petroleum Lubricant Industry
5.1.2 Increasing Focus on Strengthening Supply Chain Capabilities Among End Users
5.2 Market Challenges
5.2.1 Environmental Degradation
5.2.2 Fluctuating Raw Material Price
6. MARKET SEGMENTATION
6.1 By Product Type
6.1.1 Steel Drum
6.1.2 Plastic Drum
6.1.3 Fiber Drum
6.2 By End-user Industry
6.2.1 Food and Beverage
6.2.2 Chemicals and Fertilizers
6.2.3 Pharmaceuticals
6.2.4 Petroleum and Lubricants
6.2.5 Other End User Industries
6.3 By Geography
6.3.1 North America
6.3.1.1 United States
6.3.1.2 Canada
6.3.2 Europe
6.3.2.1 United Kingdom
6.3.2.2 Germany
6.3.2.3 France
6.3.2.4 Italy
6.3.3 Asia
6.3.3.1 China
6.3.3.2 Japan
6.3.3.3 India
6.3.3.4 Australia and New Zealand
6.3.4 Latin America
6.3.4.1 Brazil
6.3.4.2 Mexico
6.3.5 Middle East and Africa
6.3.5.1 United Arab Emirates
6.3.5.2 Saudi Arabia
6.3.5.3 South Africa
6.3.5.4 Egypt
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Greif Inc.
7.1.2 Sicagen India Ltd
7.1.3 Balmer Lawre & Co. Ltd
7.1.4 Time Technoplast Ltd
7.1.5 Schutz GmbH & Co. KGaA
7.1.6 Mauser Packaging Solutions
7.1.7 TPL Plastech Limited
7.1.8 Peninsula Drums
7.1.9 Eagle Manufacturing Company
7.1.10 U.S. Coexcell Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Industrial Drums Industry Segmentation
Industrial drums are primarily used to store and transport materials for the delivery of mass freight. Based on the different materials, industrial drums are often separated into three main categories: steel drums, plastic drums, and fiber drums. The study tracks revenue accrued from the sales of the drums offered by various vendors operating in the market with manufacturing capability. The study does not consider service providers that offer third-party supplier services.
The global industrial drums market is segmented by product type (steel drum, plastic drum, fiber drum), end-user industry (food and beverages, chemicals and fertilizers, pharmaceuticals, petroleum and lubricants, other end-user industries), and geography (North America [United States, Canada], Europe [United Kingdom, Germany, France, Italy, Rest of Europe], Asia-Pacific [China, India, Japan, Australia and New Zealand, Rest of Asia-Pacific], Latin America [Brazil, Mexico, Rest of Latin America], Middle East and Africa [United Arab Emirates, Saudi Arabia, South Africa, Egypt, Rest of Middle East and Africa]). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Product Type | |
| Steel Drum | |
| Plastic Drum | |
| Fiber Drum |
| By End-user Industry | |
| Food and Beverage | |
| Chemicals and Fertilizers | |
| Pharmaceuticals | |
| Petroleum and Lubricants | |
| Other End User Industries |
| By Geography | ||||||
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Industrial Drums Market Research FAQs
How big is the Industrial Drums Market?
The Industrial Drums Market size is expected to reach USD 13.83 billion in 2024 and grow at a CAGR of 5.69% to reach USD 18.24 billion by 2029.
What is the current Industrial Drums Market size?
In 2024, the Industrial Drums Market size is expected to reach USD 13.83 billion.
Who are the key players in Industrial Drums Market?
Greif Inc., Sicagen India Ltd, Balmer Lawrie & Co Ltd, Time Technoplast Ltd and Mauser Packaging Solutions are the major companies operating in the Industrial Drums Market.
Which is the fastest growing region in Industrial Drums Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Industrial Drums Market?
In 2024, the Asia Pacific accounts for the largest market share in Industrial Drums Market.
What years does this Industrial Drums Market cover, and what was the market size in 2023?
In 2023, the Industrial Drums Market size was estimated at USD 13.04 billion. The report covers the Industrial Drums Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Drums Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Industrial Drums Industry Report
Statistics for the 2024 Industrial Drums market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Drums analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
