ID: MRFR/PNT/7060-HCR | 188 Pages | Author: Snehal Singh | May 2023
Fiber Drum Market is projected to be worth USD 1.6 Billion by 2030, registering a CAGR of 7.8% during the forecast period (2022 - 2030).
Fiber drum market size is projected to expand at an 7.8% CAGR during the forecast period (2022-2030). The global fiber drum industry is largely organized in Asia-Pacific and North America regions. In the USA market, the applications like chemical, food, and agro-based industries are expected to have high demand on the fiber drum market outlook.
The COVID-19 has impacted negatively on the business sector, electronics, foods & beverages, and chemical sector. Especially in the manufacturing sector due to the government regulations, continuous lockdowns, temporary shut down of industries, lack of resource crunch at production sites are affecting the supply chain. The banned items from China also hampers the growth of the fiber drum industry because the lack of raw materials which need to import from China has stopped.
The regions like East Asia and South Asia are considered to have the highest growth rates for their continuous expansion in the pharmaceutical and chemical industries. Further, slowly supply chains restore the demand for food, pharmaceutical industries for an increasing number of patients with COVID-19. Food and pharmaceuticals are drivers that increase the market growth. Fiber drums are used for storing and shipping various types of products like food products, dye, and colorants, adhesives, and various hazardous chemicals.
Greif Inc. is the top leading player among the others. They launch many innovations with several advanced features. Major key players in this market always look forward to expansion through organic and inorganic methods like product launches, acquisitions, and mergers, etc...
Fiber drums for their portability and easy handling can easily be adopted with maritime containers and trucks. The drum is lightweight and is ideal for the transportation and storage of liquid products. These factors increase the demand for fiber drum market analysis. Fiber drum is 100% recyclable and is the major driver of the fiber drum industry.
Apart, the growing retail sector and the rise in intercontinental trade are increasing the fiber drum market growth. In the Asia-Pacific region, fiber drums are adopted as a packaging solution for dry chemicals. To check the quality of the fiber drum, two fundamental tests- drop test and stacking or compression test.
Due to lack of agility in industrial packaging, the market is affecting, and supply chain complexities make it difficult. Hence the fiber drum manufacturers are back in the supply chain. Fiber drums cannot be handled by forklifts. These factors may hinder the growth of the fiber drum industry. This fiber drum is not suitable for transporting some types of liquids.
For the rising concerns for packaging solutions, renowned players have made better quality fiber drums. This increases the demand for the global fiber drum market. For transportation and storage of liquid products, it can be lined with different coatings or insoluble materials as silicon, polyethylene, or polyester.
The global fiber drum market research has been segmented based on the closure type, capacity, end-use industry, and region.
The global fiber drum market based on the closure type segmented into three types as metal closure fiber drums, plastic closure fiber drums, and fiber closure fiber drums. Out of these, the metal closure fiber drums hold the largest share of the fiber drum industry in 2018 and during the forecast period, it is expected to have the highest growth.
The fiber drum market is segmented into five regions like North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Asia-Pacific region holds the largest market share in 2018 followed by North America and Europe.
Based on capacity, the fiber drum industry has been divided into below 25 gallons, 25-50 gallons, 51-75 gallons, and above 75 gallons. Among them, 51-75 gallons holds the largest market share in 2018. By increasing the use of fiber drums in the food & beverage industry may rise the growth of the fiber drum market revenue.
The global fiber drum market is segmented into five segments like chemical, food and agro-allied, pharmaceutical, building, construction, and others. During the forecast period, the chemical industry is expected to heavily dominate the market.
The global fiber drum industry is divided into five regions like Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Out of these regions, the Asia-Pacific region holds the largest market share compared to others in 2018 for their presence of an increasing number of manufacturing units and presence of emerging economies in countries such as China, India, Australia, and Indonesia. These are the countries that are exporting packaging materials worldwide. In this region, due to low labor costs and availability of domestic raw materials, manufacturers prefer this production unit for the packaging industry.
Fiber drums are made of thin paperboard or unbleached kraft paper windings and contain circular cross-sections with parallel sidewalls. These are used for storing and transportation of materials. The cardboard barrel demand was increasing day-by-day for its quality and convenient features like durability, lightweight, availability of various sizes, easy to open, and are recyclable. For its lightweight feature, the shipping expenses are reduced.
As the fiber drums, the interior layer is made up of paper and is coated with foil or poly lining, it has better corrosion resistance compared to steel or plastic drums. To reduce product contamination, the fiberboard lids are to be used in the place of metal or plastic rings. Fibre drums are widely used for the storage and transportation of chemicals & fertilizers, food, plastics, agricultural products, etc.
This global fiber drum market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent Developments, Segmentation Table and FAQs. The market dynamics include the fiber drum industry drivers, restraints, and opportunities. The stand-up pouches market is segmented into type, application, materials, and region.
The fiber drum industry research outlook is segmented into closure type, capacity, end-use industry, and region.
Metal closure fiber drums, plastic closure fiber drums, and fiber closure fiber drums
Divided into five regions like Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa
Chemical, food and agro-allied, pharmaceutical, building, construction, and others.
25 gallons, 25-50 gallons, 51-75 gallons, and above 75 gallons
|Market Size||2030: Significant Value|
|CAGR||7.8% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Closure, Capacity, and End-Use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Grief (US), Fibrestar Drums (UK), Schutz Container Systems (US), Mauser Group (US), CL Smith (US), Industrial Container Services (ICS) (Florida), TPL Plastech (India), Sonoco Product (US), Three Rivers Packaging (US), Enviro-Pak (US), Orlando Drum & Container (US) and Great Western Container (Canada)|
|Key Market Opportunities||· Renowned players have made better quality fiber drums · New product launches and R&D amongst major key players|
|Key Market Drivers||· Portability and easy handling can easily be adopted with maritime containers and trucks · Transportation and storage of liquid products|
A 7.8 % CAGR is predicted to motivate the market in the impending period.
The applications in chemical, pharmaceutical products, food, and agriculture are estimated to shape the market in the impending period.
The APAC region is predicted to contribute in a prominent way to the expansion of the global market.
Three Rivers Packaging (US), TPL Plastech (India), Industrial Container Services (ICS) (Florida), and Sonoco Product (US) are the few of the market stakeholders.
The inability to handle the fiber drums with material handling equipment such as forklifts is estimated to restrict the expansion of the market.
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