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Global Industrial Drums Market Size and Share Analysis 2023-2028
The Industrial Drums Market is projected to witness substantial growth, increasing from USD 13.13 billion in 2023 to USD 17.03 billion by 2028, at a compound annual growth rate (CAGR) of 5.34% during the forecast period (2023-2028).
Industrial drums serve as vital containers for storing and transporting various materials, facilitating the delivery of bulk freight. These drums are categorized into three main types based on the materials they are made of: steel drums, plastic drums, and fiber drums. The market size is determined by the revenue generated from the sales of drums offered by different vendors with manufacturing capabilities. Service providers offering third-party supplier services are not considered in this study. The impact of COVID-19 on the industrial drums market is also factored in, taking into account prevailing base scenarios, key themes, and demand cycles related to end-user verticals.
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USD 12.3 billion in 2021
Product Type, End User, and Geography
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The demand for industrial drums is being driven by the chemical and petrochemical lubricants industry, which seeks the ideal properties offered by these drums, including high strength, gas barrier properties, and superior workability. Brazil, as an importer and exporter of chemical products, is expected to create significant demand in the market. Furthermore, the growing petrochemical industry’s need for secure packaging solutions to protect its products, coupled with increasing production of paints, dyes, and inks in emerging markets, is expected to fuel demand for industrial drums. Investments in expanding production equipment are seen as significant growth opportunities for the market.
While the demand for industrial drums is anticipated to be concentrated in the APAC region, other areas such as the Middle East and Eastern Europe are also expected to impact global demand due to advancements in the latter. Notably, Mauser’s investment in advancing plastic drum machinery to penetrate the Middle East and Eastern Europe markets, along with the increasing oil production in the Middle East, is predicted to drive demand for industrial drums.
Fiber drums are gaining prominence in the chemical and fertilizer industry due to their ability to enhance productivity and reduce costs. The expansion of fertilizer and chemical trade between countries is foreseen to accelerate the growth of various industrial drums.
Nevertheless, various regulations and their impact on the price of industrial drums may affect consumption, thereby hindering market growth. Manufacturers are increasingly adopting other packaging materials that offer environmentally friendly properties. Fiber and paperboard are witnessing high adoption rates in the industrial drum market due to their eco-friendly nature and high recyclability.
The COVID-19 outbreak has led to a significant rise in demand for packaging food and essential items, placing substantial pressure on packaged and processed food manufacturers to maintain production lines. This, in turn, is driving the demand for raw materials supply and packaging, further stimulating the market’s growth.
The market is segmented based on various factors, including product type, end user, and geography.
Segmentation by Product Type
Segmentation by End-user Industry
Food and Beverage
Chemicals and Fertilizers
Petroleum and Lubricants
Other End-user Industries
Segmentation by Geography
Middle East and Africa
Industrial drums are extensively utilized for the transportation and storage of hazardous and non-hazardous commodities, with prominent usage in industries like chemicals, fertilizers, oil, and petroleum. The market’s growth is driven by the expansion of these sectors and the surge in international trade activities witnessed over the past decade.
According to the Union Minister for Commerce and Industry, Indian chemical exports were projected to grow by 106% in 2021-22, reaching a record high of USD 29,296 million compared to USD 14,210 million in 2013-14. This substantial growth in chemical exports is expected to boost the demand for chemical drums. Furthermore, the adoption of fiber drums in the chemical industry is contributing to market expansion. Fiber drums are preferred for storing adhesives, dyes, colorants, and hazardous chemicals, offering eco-friendliness through recyclability and cost-effectiveness compared to plastic and steel drums.
Activities in the petroleum and lubricant industry, such as crude oil procurement and import and export of petroleum products, are driving the demand for industrial drums. The emerging prominence of fiber drums in the chemical and fertilizer industry has led to improved productivity and cost reduction. Additionally, the escalating trade in fertilizers and chemicals between countries is anticipated to stimulate the growth of various industrial drums.
The Asia-Pacific region’s rapidly evolving industry and manufacturing sector are expected to increase the usage of industrial drums, as manufacturers expand their operations in emerging economies like China, India, and Indonesia. China, in particular, has shown remarkable growth in fiber drum production and holds a strong position in the market in terms of value compared to other countries in the region. The rising demand for sophisticated packaging solutions has resulted in better quality fiber drums, especially in the retail sector. The preference for lightweight, recyclable fiber drums contributes to a positive outlook for the fiber drums market in the Asia-Pacific region.
Moreover, the increasing export of wines and vegetable oil from Asian nations is driving the demand for industrial drums. These countries use industrial drums as their preferred bulk packaging material for oil exports. Robust agricultural produce in Asian countries like China and India has led to improved export volumes, fueling the demand for steel drums in the chemical and fertilizer end-use market in the region.
In 2021, the European Union’s machinery and transport equipment exports to China were valued at approximately USD 124.47 billion, making it the most exported commodity to China, followed by chemicals and related products at approximately USD 35.3 billion. Similarly, the European Union imported machinery and transport equipment worth approximately USD 283.23 billion from China in the same year. India’s position as one of the top producers of various agricultural products is expected to create substantial demand for steel drums in the chemical and fertilizer end-use market in the Asia-Pacific region.
The Industrial Drums Market exhibits characteristics of differentiation, increasing product penetration, and intense competition. Companies can achieve sustainable competitive advantage by innovating in areas such as design, capacity, and application. These products are witnessing growing adoption by end-users, particularly in industries like chemicals and fertilizers, and this trend is expected to continue during the forecast period. Key players in the market include Greif Inc., Schütz GmbH & Co. KGaA, and Mauser Group BV.
In February 2023, Mauser Packaging Solutions expanded its product offerings in South Africa through an investment in advanced plastic drum manufacturing equipment. The new production line, located in Durban, South Africa, focuses on manufacturing UN-certified, tight-head polyethylene barrels in sizes 210 L, 232 L, and 250 L. These plastic barrels are available in mono-layer or multi-layer formats and are well-suited for applications in the chemical, food, oil, and lubricant industries.
In October 2022, Schütz introduced the Green Layer series, enhancing its Green Lifecycle Management program. Through this initiative, the packaging expert assists clients in achieving their sustainability objectives, helping them reduce the overall CO2 footprint of their packaging solutions. The primary aim of this program is to provide environmentally friendly packaging that is both abundant and cost-effective.
Key companies profiled in this report include Greif Inc., Sicagen India Ltd, Balmer Lawre & Co. Ltd, Time Technoplast Ltd, Schütz GmbH & Co. KGaa, Mauser Packaging Solutions, TPL Plastech Limited, Peninsula Drums, Eagle Manufacturing Company, U.S. Coexcell Inc.
Recent Industry Developments
In March 2023, Mauser Packaging Solutions undertook an expansion of its production network in China. This expansion involved the establishment of a state-of-the-art manufacturing plant in the Economic Development Zone of Haiyan, near Shanghai. The strategic move comes in response to the growing industrial packaging needs in the region, and the new facility is poised to effectively meet both current and future market demands.
In January 2023, SCHÜTZ Container Systems took steps to enhance the output of open-head steel drums by expanding its steel drum manufacturing facility in Houston, USA. Through this expansion, the company aims to bolster its product and service offering, thereby providing local customers with a comprehensive selection of new and reconditioned Intermediate Bulk Containers (IBCs), as well as PE and steel drums. This initiative aims to better serve the needs of the market and cater to the increasing demand for steel drums in the region.
Key Questions Answered
What is the size of the Industrial Drums Market?
The Industrial Drums Market size is projected to reach USD 13.13 billion in 2023 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.34% to reach USD 17.03 billion by 2028.
What is the current size of the Industrial Drums Market?
As of 2023, the Industrial Drums Market size is estimated to be USD 13.13 billion.
Who are the key players in the Industrial Drums Market?
The major companies operating in the Industrial Drums Market include Greif Inc., Sicagen India Ltd, Balmer Lawrie & Co Ltd, Time Technoplast Ltd, and Schütz GmbH & Co. KGaa.
Which region is experiencing the fastest growth in the Industrial Drums Market?
Asia Pacific is expected to witness the highest Compound Annual Growth Rate (CAGR) over the forecast period (2023-2028) in the Industrial Drums Market.
Which region holds the largest share in the Industrial Drums Market?
As of 2023, the Asia Pacific region accounts for the largest market share in the Industrial Drums Market.