The Fiber Drum Market Size was valued at USD 1.18 Billion in 2023. The Fiber Drum industry is projected to grow from USD 1.27 Billion in 2024 to USD 2.16 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.84% during the forecast period (2024 - 2032). Renowned organizations have improved the quality of fiber drums. New product introductions and research and development by significant stakeholders are the key market drivers contributing to market growth and expansion.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The rising transport and warehousing of liquid items drive the market CAGR for fiber drum. Fiber barrels are easily accepted with marine containers and vehicles due to their mobility and ease of handling. The lightweight drum is suitable for transporting and storing liquid items. These reasons drive up the need for fiber drum market research. The fiber drum business is fueled by the fact that it is 100% recyclable. Aside from that, the expanding retail sector and increased intercontinental commerce are driving the expansion of the fiber drum industry. used Fiber drums are a dry chemical packaging option in Asia-Pacific. Two essential tests are used to evaluate the condition of the fiber drum: the drop test and the process of stacking or compressing test.
Additionally, Renowned players have improved the quality of fiber drums to meet the growing demand for packaging solutions. This boosts the worldwide fiber drum market's demand. It can be coated with various coverings or insoluble substances such as silicon, polyethylene, or polyester to move and store liquid items. The increasing retail sector and demand for compact containers for bulk goods are the primary factors influencing the fiber drum business. Fiber drums offer a significant advantage in that they are completely recyclable. Most fiber drums, for example, may be filled with various coverings or insoluble substances, including silicone, polyethylene, or polyester, which are used to transport and store liquid commodities such as adhesives and dyes. Food and medicines are key drivers of industry development. Fiber drums are used to store and carry a variety of things such as food, dyes & colorants, adhesives, and hazardous chemicals.
COVID-19 has negatively influenced the business, electronics, food and beverage, and chemical sectors. Government rules, continual lockdowns, temporary shutdowns of sectors, and a shortage of resources at production sites are hurting the supply chain, particularly in the manufacturing sector. The prohibited commodities from China also impede the expansion of the fiber drum sector since the import of raw materials from China has ceased. East Asia and Southeast Asia are thought to have the greatest rate of development due to their ongoing growth in the medical and chemical sectors. Furthermore, supply networks gradually reestablish demand for food and pharmaceutical sectors for rising COVID-19 patients.
For instance, Associations such as the SEFFI continue collaborating with European fiber drum producers to promote the benefits of fiber drums and represent the industry ly. Over 90% of European manufacturers are members of the organization, with a yearly production of 10 million fiber containers. Thus, it is anticipated that demand for Fiber Drum will increase throughout the projected timeframe due to the rising transport and warehousing of liquid items. Thus, driving the Fiber Drum market revenue.
The Fiber Drum market segmentation, based on closure, includes Metal Closure, Plastic Closure, and Fiberboard /Cardboard Closure. The metal closure segment dominated the market, accounting for 54% of market revenue (USD 0.6 Billion) in 2022. The metal closure reinforces the highest point & bottom sides of the drum. It increases the impact resilience of the drum while also making the rim easier to open and close.
Figure 1: Fiber Drum Market, by Closure, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Fiber Drum market segmentation, based on capacity, includes Up to 25 Gallons, 26–50 Gallons, 51–75 Gallons, and Above 75 Gallons. The 51–75-gallon category generated the highest market revenue of about 42% (USD 0.5 billion) in 2022. This category has an FDA-compliant container criterion, which fiber drums can meet.
The Fiber Drum market segmentation, based on end-user, includes Chemical, Food & Beverage, Pharmaceuticals. The Food & Beverage segment dominated the market, accounting for 39% of market revenue (USD 0.43 Billion) in 2022. Increased use of fiber drums in the food and beverage sector may boost the fiber drum market revenue.
By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Fiber Drum market area will dominate this market during the projected timeframe. It is booming with prominent chemical industries such as Dow Chemical Company, DuPont, and others, creating the demand for a reliable chemical delivery medium to boost the market growth in the North American region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Fiber Drum Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Fiber Drum market accounts for the second-highest market share owing to the critical penetration of new items such as plastic containers in building and construction areas and growing food shortages due to major instances discovered in several food production enterprises in this region. Further, the German Fiber Drum market holds the largest market share, and the UK Fiber Drum market is expected to grow and expand significantly in the European region during the projected timeframe.
The Asia-Pacific Fiber Drum Market is expected to grow quickly during the projected timeframe. Manufacturers use this facility for the packaging sector due to the rising number of production facilities and developing economies in nations, cheap labor costs, and the availability of indigenous raw materials. Moreover, China’s Fiber Drum market dominates the market share, and the Indian Fiber Drum market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.
Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Fiber Drum market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with significant market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Fiber Drum industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the Fiber Drum industry to benefit customers and capture untapped market share and revenue. The Fiber Drum industry has recently offered significant advantages to the Packaging & Transport industry. Moreover, more industry participants are utilizing and adopting cutting-edge Technology has grown substantially. Major players in the Fiber Drum market, including 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), are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.
Greif is an international innovator in packaging for commercial goods and services, with 235 locations worldwide, 188 of which are manufacturing facilities. The company's 12,280 employees are spread throughout 37 countries, with its main office in Delaware, Ohio. They began a new plastic manufacturing development on the USA's West Coast in February 2020. In its Merced, California factory, they are building a plastic drum blow molding machine. It is scheduled to begin operations in the subsequent quarter of 2020.
Steel containers, commercial greases, specialty fluids, and business travel and logistical services are among the items offered by Balmer Lawrie & Co. It is involved in performance chemicals as well as logistical infrastructure. It is India's largest steel barrel maker. The organization is based in Calcutta and has locations around India and in Bedford, England. They opened a new manufacturing factory for steel drums in Vadodara, Gujarat, in June 2019. With a 34% market share, this firm is India's biggest 210L MS Drum maker. Its goal is to provide the chemical industry with quality products and services.
March 2022: Expanding the new SCHUTS carrier technology installations in Toronto, Montreal, and Ottawa. As a result of environmental measures, the fiber drum industry is likely to grow even faster.
February 2020: Grief began a new development of plastic manufacturing on the West Coast of the USA in February 2020. In its Merced, California factory, they are building a plastic drum blow molding machine. It is scheduled to begin operations in the subsequent quarter of 2020.
June 2019: Balmer Lawrie & Co.Ltd opened a new manufacturing factory for steel drums in Vadodara, Gujarat, in June 2019. With a 34% market share, this firm is India's biggest 210L MS Drum maker. Its goal is to provide the chemical industry with quality products and services.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 1.18 Billion |
| Market Size 2024 | USD 1.27 Billion |
| Market Size 2032 | USD 2.16 Billion |
| Compound Annual Growth Rate (CAGR) | 6.84 % (2023-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Closure, Capacity, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 organizations have improved the quality of fiber drums New product introductions and research and development by significant stakeholders |
| Key Market Dynamics | With marine containers & trucks, mobility, and simplicity of handling may be implemented. Transport and warehousing of liquid items |
Fiber Drum Market Highlights:
Frequently Asked Questions (FAQ) :
The Fiber Drum market size was valued at USD 1.18 Billion in 2023.
The Fiber Drum market is projected to grow at a CAGR of 6.84% during the forecast period, 2024-2032.
North America had the largest share of the Fiber Drum market
The key players in the Fiber Drum market are 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).
The Metal Closure category dominated the Fiber Drum market in 2023.
The 51–75 Gallons had the largest share in the Fiber Drum market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
