Industrial Drums Market Size

Statistics for the 2023 & 2024 Industrial Drums market size, created by Mordor Intelligence™ Industry Reports. Industrial Drums size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Industrial Drums Industry

Single User License
Team License
Corporate License
Book before:
Industrial Drums Market Summary
share button
Study Period 2019 - 2029
Market Size (2024) USD 13.83 Billion
Market Size (2029) USD 17.94 Billion
CAGR (2024 - 2029) 5.34 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Industrial Drums Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

OFF

Team License

OFF

Corporate License

OFF
Book before:

Industrial Drums Market Analysis

The Industrial Drums Market size is estimated at USD 13.83 billion in 2024, and is expected to reach USD 17.94 billion by 2029, growing at a CAGR of 5.34% during the forecast period (2024-2029).

  • The industrial drum market is witnessing demand for chemical and petrochemical lubricants for the ideal properties they offer, such as high strength, gas barrier properties, and superior workability driving the product demand in the industry over the forecast period. According to the Brazilian Chemical Industrial Association, Brazil is an importer of chemical products. The value of products imported into the country in 2021 was USD 59.2 billion. Brazil exported USD 14.2 billion worth of chemicals in 2021. Such imports and exports of chemicals are expected to create significant demand for the industrial drum market.
  • The growing petrochemical industry demands safe packaging solutions to protect its products. Also, the rising production of paints, dyes, and inks in emerging markets and the ever-increasing need for a secure supply chain and transportation of products is expected to drive the demand. Increased investment in growing production equipment is expected to provide significant growth opportunities for the industrial drums market growth. 
  • Although the demand for industrial drums is expected to be mainly concentrated in the APAC area, other regions, such as the Middle East and Eastern Europe, are also expected to impact global demand due to advancements in Eastern Europe significantly. For instance, Mauser invested in advancing its machinery for plastic drums to expand its market in the Middle East and Eastern Europe, and the increasing oil production in the Middle East is expected to drive the demand for industrial drums.
  • Moreover, fiber drums are becoming more prominent in the chemical and fertilizers industry because they improve productivity and reduce expenses. The expansion of fertilizer and chemical traffic between various countries is predicted to accelerate the growth of different industrial drums.
  • Various regulations reflect on the increase in the price of the industrial drums, which affects the consumption of the product and further hinders the growth of the market studied. Overall, manufacturers are now using other packaging materials which offer environment-friendly properties. The consumption of fiber and paperboard in the industrial drum market is witnessing high adoption rates in the regions, owing to its eco-friendly nature and high recyclability. 
  • Due to the COVID-19 outbreak, the packaging demand for food and essentials rose significantly, while packaged and processed food manufacturers experienced significant supply chain pressure to maintain production lines. This is expected to drive the demand for raw material supply and packaging, in turn driving the market demand.

Industrial Drums Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)