Warehouse Drums and Barrel Market Expected to Reach $30.1 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Warehouse Drums and Barrel Market," The warehouse drums and barrel market size was valued at $18.9 billion in 2021, and is estimated to reach $30.1 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031. Drums and barrels are the cylindrical shipping containers used for shipping bulk cargo. Drums and barrels can be made of steel, dense paperboard (commonly called a fiber drum), or plastic, and are generally used for the transportation and storage of liquids and powders.

Rapid industrialization and the rise in need for effective bulk packaging materials drive the warehouse drums and barrel market growth. Steel drums are expected to be beneficial in terms of utilization due to their outstanding mechanical properties, such as high strength, good protective properties, such as gas barrier properties, and excellent processing performance. These may also be rolled into a variety of thicknesses of the sheet, foil, sheet stamping, rolling, stretching, and welding of various forms and sizes of packing containers. In addition, the introduction of new drums and barrels that are resistant to chemicals, high temperatures, pressure, and moisture boost the warehouse drums and barrel industry growth.

Biodegradable rigid plastic is also being used by product manufacturers to create environment-friendly variants. Drums and barrels used in warehouses are bulk industrial packaging containers made of rigid plastics, fiber, and steel. Chemicals, petroleum, paints, and solvents, as well as food and pharmaceutical products, are frequently stored and transported in huge quantities from the site of manufacture to the point of distribution. They may also be customized with different heights and thicknesses to meet the needs of the customer. In addition, the rise in demand to create new innovations along with more durable options for packaging like steel is leading to the addition of variety of textures over the drums and barrels. Moreover,  the developments in chemical industry boost the adoption of drums and barrels which is driving the growth of the warehouse drums and barrel market. Waste management, healthcare, and food services are just a few of the industries that use them. However, because they serve such a diverse range of industries, there is no “one size fits all” solution. Instead, there are several types, each of which is composed of different material and has a different purpose.

However, surge in awareness about environmental degradation and the fact that plastic has a tendency to degrade over time due to factors such as excessive light or denting are just a few of the reasons expected to hinder the expansion of plastic drums in the near future. On the other hand, an increase in the price of steel, which consumes a large portion of the production budget, is another factor projected to hamper the growth of the warehouse drums and barrel market.

On the contrary, increase in demand for cost-effective plastics and biodegradables drums and barrels owing to rapid industrialization in developing countries such as the Asia-Pacific is the lucrative growth opportunity for the warehouse drums and barrel market.

The market is segmented on the basis of material, application, end user industry, and region. On the basis of material, the market is segmented into steel, plastic and fiber. By application, the market is divided into liquid and powder. By end user industry, it is classified into petroleum, pharmaceutical, paints, food and others. Region wise, the global warehouse drums and barrel market analysis is conducted across North America (U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

The major players profiled in the global warehouse drums and barrel market include Advance Drum Service, Inc., Amcor, Container Distributions Inc., Greif Inc, Illing Packaging, Industrial Container Services, Jackacki Bag & Barrel, Mauser Packaging Solutions, Meyer Steel Drum, Nippon Steel Drums Co. Ltd, Rahway Steel Drum Company, Inc., Schutz GmbH & Co.KGaA, Skolnik Industries, Snyder Industries, LLC, Sonoco Product, Stavig Group and Tank Holding Corporation.

Key Findings of The Study

• The report provides an extensive analysis of the current and emerging global warehouse drums and barrel market trends and dynamics.
• By material, the plastic segment generated largest revenue in 2021.
• By application, the liquid segment generated highest revenue in 2021.
• By end user industry, the petroleum segment dominated the market in 2021.
• Region wise, Asia-Pacific is anticipated to dominate the global warehouse drums and barrel market share throughout the forecast period.
• The report provides an extensive analysis of the global warehouse drums and barrel market trends and emerging opportunities of the market.
• The global warehouse drums and barrel market forecast analysis from 2022 to 2031 is included in the report.