Industrial Drums Market Trends

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

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Market Trends of Industrial Drums Industry

Increasing Demand from the Chemical and Fertilizers and Petroleum Lubricant Industry to Drive the Market

  • Industrial drums are frequently used for transporting and storing hazardous and non-hazardous commodities. Industrial drums are most commonly used in the chemical, fertilizer, oil, and petroleum industries. One of the factors supporting the growth of the industrial drum market is the continued expansion of these sectors, together with rising international trade activities over the past ten years.
  • According to the Union Minister for Commerce and Industry, Indian chemical exports were expected to expand by 106% in 2021-22. Compared to 2013-14, when India's chemical exports were USD 14210 million, they will reach a new high of USD 29296 million in 2021-22. This is expected to drive the demand for chemical drums.
  • Further, the fiber drums adoption in the chemical industry is driving the market growth. Fiber drums are utilized for storing and transporting various goods, including adhesives, dyes and colorants, and hazardous chemicals. Fiber drums offer eco-friendliness due to their recyclability and can be a more affordable alternative to plastic and steel drums.
  • According to the Hindustan Petroleum Corporation Limited, the International Trade department procures crude oil for the refineries in Mumbai and Visakhapatnam with a united crude throughput of 18 million metric tons. The department also undertakes the import and export of petroleum products, and the volume of import and export of petroleum products for FY 2020-2021 was 7.18 MMT. Such activities drive the demand for industrial drums in the market.
  • 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.
  • Such rising international trade activities and the growing need to increase productivity drive the market growth for the chemical and fertilizers and petroleum lubricant industry.
Industrial Drums Market - Daily Demand for Crude Oil, In Million Barrels Per Day, Global, 2018-2023

Asia Pacific Accounts for the Largest Market Share

  • The rapidly evolving industry and manufacturing sector in the Asia-Pacific region is expected to increase the usage of industrial drums as manufacturers continue expanding their manufacturing bases to emerging economies like China, India, and Indonesia. China has shown optimistic growth in the production of fiber drums. In terms of value, it has a strong hold over other countries such as Malaysia and Singapore. 
  • The rising concerns for sophisticated packaging solutions for products by local and renowned players have translated into better quality fiber drums. The growing retail sector and the increasing preference for lightweight bulk containers such as recyclable fiber drums are key factors affecting the fiber drums market. The main advantage of using fiber drums is that they are recyclable. Therefore, the fiber drums market outlook is expected to be positive in the Asia-Pacific region.
  • The region's industrial drums market is expected to continue to expand due to the region's growing exports of wines and vegetable oil. Asian nations' oil exporters use industrial drums over other bulk packaging materials. Large-scale palm oil exports from China and India may significantly increase demand for industrial drums in the region.
  • Countries in Asia-Pacific, such as China and India, with robust agricultural produce, are improving their export volumes by implementing effective storage, transport, and packaging solutions. According to Eurostat and the European Commission, in 2021, the EU machinery and transport equipment exports to China accounted for about EUR 116 billion (~USD 124.47 billion), making it the most exported commodity to China, followed by chemicals and related products, accounting for EUR 32.89 billion (~USD 35.3 billion). 
  • In 2021, the European Union imported nearly EUR 264 billion (~USD 283.23 billion) of machinery and transport equipment from China. According to Invest India, a national investment and facilitation agency, India is one of the world's top producers of spices, cashews, pulses, and jute. The country is also one of the world's largest producers of fruits and vegetables. The country's growing agriculture sector is expected to create significant demand for steel drums in the market's chemical and fertilizer end-use in the region.
Industrial Drums Market - Growth Rate by Region

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