Plastic drums are used for transportation and storage of industrial products which requires an appropriate handling of the filling product. Plastic drums can be made up of high-density polyethylene or polypropylene. However, polyethylene is majorly used for manufacturing plastic drums. Food grade and UN-certified plastic drums are used for food & beverages and hazardous chemicals industries. Plastic drums are stacked on pallets and can be efficiently handled during shipment. Plastic drums hold an appropriate share in the intermediate bulk containers market. These drums can be re-used nearly 30 times with repeated reconditioning. Demand for petrochemicals in the developing regions such as the Asia Pacific and Latin America is boosting the plastic drums market.
Plastic drums are specifically designed with handles and some of them have strong closures for better handling and protection of the filling products. The plastic drums market is set to experience high growth in the upcoming years, as the cost-effectiveness of plastic is providing convenience to the consumers. Earlier, larger metal drums were used to ship containers for oil, juice, and other liquid products, but now plastic drums are steadily replacing other industrial packaging options. Companies provide auto lock systems in plastic drums to enhance their capabilities.
Intermediate bulk container packaging has made it possible for the shipping industry to transport large volume products without denting a hole in their pockets. Plastic drums offer several advantages which include re-usability and cost-efficiency, leading to their wide range of applications across various regions of North America. The global plastic drums market is estimated to have significant growth during the forecast period, as the demand for petrochemicals is increasing in the Asia Pacific region. From conventional designs to improved innovative designs, the global plastic drums market is again witnessing a transition where not only the buyers from developed markets, but also from developing markets are opting for plastic drums. Global trade of industrial products has also increased during the past decade, necessitating the use of plastic drums by non-traditional industries.
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The global plastic drums market is segmented as per capacity type, product type, and end use. On the basis of capacity type, the global market for plastic drums is segmented into less than 30 gallons, 30-60 gallons, and 60 gallons & above. On the basis of product type, global plastic drums market is segmented into open-head plastic drums and closed-head plastic drums. On the basis of end use, the global plastic drums market is segmented into food & beverage, pharmaceuticals, building & construction, chemical & fertilizers, and paints & lubricants.
Recent Developments & Trends in the Plastic Drums Market
Manufacturers are introducing new processes and products along with secure packaging solutions for industrial packaging. Companies such as Schutz Container Systems, Inc. and Mauser Group B.V. are introducing new products and security systems to enhance the performance of their drums. Manufacturers in the plastic drums market are also looking for certifications to provide the highest level of food safety.
Mauser Group B.V., a leading player in industrial packaging is distributing Drumguard Quattro security by Strauch GmbH from Germany for optimum load security. This system is suitable for steel, fiber, and plastic drums. The demand for protective packaging is increasing the need for effective and secure packaging solutions.
Schutz Container Systems, Inc. is providing different types of specifications in PE drums as well as focusing on installing new manufacturing plants in different regions.
- Recently, the company opened a new Intermediate bulk containers manufacturing facility in Thailand, which is built to fully comply with requirements of FSSC 22000 industry standards.
- The company is providing a wide range of options in plastic drums to prevent contamination. The drums also have an anti-permeation layer inside to ensure product safety.
The next section of the report highlights the plastic drums market, by region, and provides the market outlook for 2018–2027. The study investigates the Y-o-Y growth regionally, as well as analyses the drivers that influence the regional plastic drums market. Main regions assessed in this report include North America, Latin America, Europe, Asia Pacific excluding Japan, Japan, and the Middle East & Africa (MEA). The report (Global Plastic Drums Market) evaluates the present scenario and growth prospects of the regional plastic drums market for 2018–2027.
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To ascertain the plastic drums market size in terms of value and volume, the revenue generated by the key manufacturers and their respective production capacity is taken into consideration. The forecast presented here assesses the total revenue generated by value, across the plastic drums market. In order to provide an accurate forecast of the plastic drums market, we initiated by sizing up the current market, which forms the basis on how the plastic drums market is expected to develop in the future.
Given the characteristics of the plastic drums market, we triangulated the outcome on the basis of three different types of analysis; based on supply side, downstream industry demand, and the economic envelope. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the plastic drums market and identify the right opportunities across the market.