The global Bulk Drums market reached a value of about USD 8.7 billion in 2021. The industry is projected to grow at a CAGR of around 5.5% in the forecast period of 2022-2027 to reach a value of about USD 12.7 billion by 2027.
The global Bulk Drums industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The rising industrial activities and the demand for bulk packaging from various end-user industries are driving the market growth. The Asia Pacific is the highest category spender by region, driving the need for the Bulk Drums industry.
A drum or a barrel is a cylindrical transportation container used to store and carry goods for the delivery of large amounts of freight. They are used to transport and hold a wide range of goods like liquids and powders and can be composed of steel, thick paperboard, or plastic. The Bulk Drums industry report comprises segments by type (Steel, Plastic, and Fiber), end-user (Chemical, Food and Beverage, Pharmaceuticals, Paints, Inks and Dyes, and Agrochemicals) and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and Latin America).
The Asia Pacific holds the largest share in the industry due to the rising industrial spending. Due to several variables, such as the availability of inexpensive land and labour, the region also fosters the introduction of small and medium-sized businesses. Furthermore, China, India, and Indonesia are among the growing economies where global firms continue to move their production sites, further driving the market's development. Also, India and China are renowned for large-scale palm-oil exports, which are likely to expand the industry.
The industry is being aided by the rising demand for the packaging of several goods from various industries. The properties of industrial bulk packaging materials, like increased material storage capacity, further the market's expansion. Industrial barrels increase operational efficiency and effectiveness when transporting vast quantities of liquid commodities, such as chemicals, wines, fruit juices, and other non-hazardous items, at a low cost, driving the industry forward. Steel drums have outstanding mechanical qualities, such as high strength, good protective properties, gas barrier properties, and processing performance. They can be rolled into various thicknesses of the sheet, foil, sheet stamping, rolling, stretching, and welding of multiple forms and sizes of packing containers boosting demand. There is a growing preference for plastic-based packaging items such as pails and drums over metal-based products as it aids in achieving economies of scale. Furthermore, the market is witnessing increased growth because of its advantageous features such as lightweight, dependability, and durability.
The global Bulk Drums industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Bulk Drums regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Various types of drums are used for the transportation of many goods. Plastic drums are made with injection blow moulding technique and can have a separate cover or a welded type of top with the bungholes moulded in. Metal drums are constructed from cold-rolled steel sheets welded into lengthy pipe-like sections and then stamped into drum bodies. A seam is rolled into the bottom of the drum, or both the bottom and top. The steel drums feature thicker metal or plastic rolling hoops or rings to reinforce them. The fibre drums are typically protected with a urethane or plastic covering. At the ends, they feature steel reinforcing rims.
The market is being propelled by the growing use of flexible intermediate bulk containers (IBCs). Continuous product development, primarily targeted at boosting effectiveness resulting from material capabilities, characterises the worldwide packaging industry. Material modifications are being implemented by manufacturers, resulting in economic and functional gains. RFID technology has shown to be a cost-effective cost-cutting solution for consumers, manufacturers, and suppliers, which is augmenting its demand in the sector. Also, cross-border commerce and logistics are projected to create market opportunities for the players.
The regional markets for the industry can be divided into North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Due to so many domestic worldwide, regional, local, and foreign market participants, the industry is highly fragmented. Product differentiation and innovation have been recognised as the sector's favoured methods. To stay competitive in the industry, most market competitors provide tailored and customised solutions to their customers. Also, the packaging business sees an increase in mergers and acquisitions to expand its worldwide reach and consolidate the market.
1. Executive Summary
2. Bulk Drums Market Snapshot
2.1. Bulk Drums Market Outlook
2.2. Bulk Drums Industry Analysis by Type
2.3. Bulk Drums Industry Analysis by End User
2.3.2. Food and Beverage
2.3.4. Paints, Inks and Dyes
2.4. Region Overview
2.4.1. North America
2.4.2. Asia Pacific
2.4.4. Latin America
2.4.5. Middle East and Africa
3. Impact of Recent Events
4. Bulk Drums Value Chain Analysis
5. Bulk Drums Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Bulk Drums Cost Structure
9. Bulk Drums Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Bulk Drums Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. Swot Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New Entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Industry Best Practices
13.1. Sourcing Strategy
13.2. Procurement Model
13.3. Contract Structure
13.4. Negotiation Levers
13.5. Pricing Model
13.6. Key Factors Influencing the Quotation
14. Key Supplier Analysis
14.1. Greif Inc.
14.2. Mauser Packaging Solutions
14.3. Schütz GmbH & Co. KGaA.
14.4. Skolnik Industries,Inc.
14.5. Time Technoplast Ltd.
The global Bulk Drums market size was valued at USD 8.7 billion in 2021.
As per the product provided, the steel segment is anticipated to lead the market between the period 2021 – 2027.
The significant demand for efficient and cost-effective packaging is one of the essential drivers of the Bulk Drums market growth.
Greif, Mauser, Schutz, Skolnik, and Time Technoplast are some of the prominent players in the market.
The Asia Pacific region of the Bulk Drums industry holds a significant share in the market.
The global Bulk Drums market reached USD 8.7 billion in 2021, driven by the rising demand for packaging of several goods from various industries. The continuous product development, especially for boosting effectiveness resulting from material capabilities, characterises the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 5.5%. The market is projected to reach USD 12.7 billion by 2027. Some of the leading players in the industry are Greif, Mauser, Schutz, Skolnik, Time Technoplast.
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