The global market for plastic drums was valued at US$ 2,223 million in 2017. The global plastic drums market is forecast to expand at CAGR of 5.0%.
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.
Planning to lay down future strategy? Perfect your plan with our report brochure here https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=54672
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 chemical & fertilizers segment in the global plastic drums market is expected to expand at a CAGR of 5.9% during the forecast period. The segment is valued at US$ 1,048.2 Million in the year 2017. The tight head drums segment in the global plastic drums market is estimated to be valued at US$ 834.3 Million in 2017. Asia Pacific excluding Japan region in plastic drums market is expected to be valued at US$ 905.8 Million in the year 2023 and is anticipated to expand at a CAGR of 5.1% during 2019-2027.
Looking for exclusive market insights from business experts? Request a Custom Report here https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=54672
Greif Packaging LLC, CurTec Holdings B.V., Mauser Packaging Solutions, Schutz Container Systems, U.S. Coexcell Inc., Interplastica, Industrial Container Services, AST Plastic Containers, KODAMA PLASTICS Co., Ltd., Industrial Packaging Limited, RPC Group Plc, CL Smith Company, GREAT WESTERN CONTAINERS INC., TPL Plastech Ltd., Vallero International S.r.l., Remcon Plastics Incorporation, Orlando Drum & Container Corporation, and Hazmatpac, Inc. are key players in the plastic drums market.