Steel Drums Market Size, Share & Industry Analysis, By Type (Carbon Steel, Stainless Steel), By End-Use (Chemicals, Agricultural, Commodity, Speciality, Petroleum & Lubricants, Paints, Inks, & Dyes, Food & Beverages, Edible Oi) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI105423 | Status : Ongoing

KEY MARKET INSIGHTS

The steel drums are extensively utilized for the packaging of semi-solids, liquids, as well as powders. They are made from carbon or stainless steel material. Further, they have the ability to withstand an extreme range of pressure, temperatures, and humidity, while maintaining their structural integrity irrespective of heat and flame, without any spillage or leakage. Also, it the less likely to implode when proper work conditions are maintained and remain unaffected by the thermal shocks. They are available in various sizes based on the application required. The steel drums find their use in chemicals, agricultural, petroleum & lubricants, paints, inks, and food & beverage applications.

The rising demand for steel drums for packaging purposes will contribute to flourishing market growth. The properties such as recyclability for reuse, durability, high sustainability, excellent strength, and eco-friendliness make steel drums a preferred choice in the packaging industry. As a packaging material, the steel drums are utilized as a shipping container for chemicals and other liquids in the food, paints, construction, and healthcare industry. Also, it is ideal for bulk packaging. The rapid growth in the food & beverage industry coupled with increasing innovation in the packaging will aid to boost product consumption. Hence, this is anticipated to hamper the steel drums market growth.

However, the availability of substitute products including fiber drum is restricting the product adoption in various applications. Hence this is anticipated to hamper the market growth.

Key Market Driver -

Increasing steel drums demand for packaging purpose to drive the market growth.

Key Market Restraint -

Availability of substitute to hamper the market growth

Market Segmentation:

Based on type, the steel drums market is segmented into carbon steel and stainless steel. Based on end-use, the market is segmented into chemicals, agricultural, petroleum & lubricants, paints, inks, & dyes, food & beverages, building & construction, healthcare & personal care, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Key Players Covered:

The key players in the steel drums market include Mauser Group B.V., Greif, Inc., North Coast Container Corp., Rahway Steel Drum Co Inc., General Steel Drum LLC, Skolnik Industries Inc., Metal Drum Co Ltd/The, Clouds Drums Dubai LLC, James G Carrick & Co Ltd, Chicago Steel Container Corp., Izvar Ambalaj Sanayi VE Ticaret AS, Industrial Container Services, Inc., and Schutz Container Systems, Inc.

Key Insights

Key Emerging Trends – For Major Countries

Key Developments: Mergers, Acquisition, Partnership, etc.

Latest Technological Advancement

Insights on Regulatory Scenarios

Porters Five Forces Analysis

Regional Analysis:

Asia Pacific is estimated to witness the highest growth in the steel drums market. The growth is attributed to the rising product demand in the construction industry. Further, increasing stainless drums demand in the agriculture industry will fuel the market growth in this region. The increasing product adoption in the healthcare and personal care industry will fuel the market growth in Europe. The rising demand for the product in chemicals, commodity, and specialty applications will propel the market growth in North America, In which the US and Canada are the leading countries. The Middle East & Africa is anticipated to witness significant growth, owing to the increasing product demand in petroleum & lubricants.

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Segmentation

ATTRIBUTES	DETAILS
By Type	Carbon Steel Stainless Steel
By End-Use	Chemicals Agricultural Commodity Speciality Petroleum & Lubricants Paints, Inks, & Dyes Food & Beverages Edible Oil Liquid Food Ingredients Others Building & Construction Healthcare & Personal Care Others
By Geography	North America (U.S. and Canada) Europe (UK, Germany, France, Italy, Spain, and Rest of Europe) Asia Pacific (Japan, China, Taiwan, India, South Korea, Southeast Asia, and Rest of Asia Pacific) Latin America (Brazil, Mexico, and Rest of Latin America) Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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