Plastic Drums Market Size Competitive Dynamics & Global Outlook

Plastic Drums Market – Find out What are the Reasons for the Rise of the Industry Growth in the Near Future

The global market for plastic drums was valued at US$ 2,223 million in 2017. The global plastic drums market is forecast to expand at CAGR of 5.0%.

Plastic drums are used for transportation and storage of industrial products which requires an appropriate handling of the filling product. Plastic drums can be made up of high-density polyethylene or polypropylene. However, polyethylene is majorly used for manufacturing plastic drums. Food grade and UN-certified plastic drums are used for food beverages and hazardous chemicals industries. Plastic drums are stacked on pallets and can be efficiently handled during shipment. Plastic drums hold an appropriate share in the intermediate bulk containers market. These drums can be re-used nearly 30 times with repeated reconditioning. Demand for petrochemicals in the developing regions such as the Asia Pacific and Latin America is boosting the plastic drums market. Plastic drums are specifically designed with handles and some of them have strong closures for better handling and protection of the filling products. The plastic drums market is set to experience high growth in the upcoming years, as the cost-effectiveness of plastic is providing convenience to the consumers. Earlier, larger metal drums were used to ship containers for oil, juice, and other liquid products, but now plastic drums are steadily replacing other industrial packaging options. Companies provide auto lock systems in plastic drums to enhance their capabilities.

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Intermediate bulk container packaging has made it possible for the shipping industry to transport large volume products without denting a hole in their pockets. Plastic drums offer several advantages which include re-usability and cost-efficiency, leading to their wide range of applications across various regions of North America. The global plastic drums market is estimated to have significant growth during the forecast period, as the demand for petrochemicals is increasing in the Asia Pacific region. From conventional designs to improved innovative designs, the global plastic drums market is again witnessing a transition where not only the buyers from developed markets, but also from developing markets are opting for plastic drums. Global trade of industrial products has also increased during the past decade, necessitating the use of plastic drums by non-traditional industries.

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The global plastic drums market is segmented as per capacity type, product type, and end use. On the basis of capacity type, the global market for plastic drums is segmented into less than 30 gallons, 30-60 gallons, and 60 gallons above. On the basis of product type, global plastic drums market is segmented into open-head plastic drums and closed-head plastic drums. On the basis of end use, the global plastic drums market is segmented into food beverage, pharmaceuticals, building construction, chemical fertilizers, and paints lubricants.

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Competitive Landscape

Greif Packaging LLC, CurTec Holdings B.V., Mauser Packaging Solutions, Schutz Container Systems, U.S. Coexcell Inc., Interplastica, Industrial Container Services, AST Plastic Containers, KODAMA PLASTICS Co., Ltd., Industrial Packaging Limited, RPC Group Plc, CL Smith Company, GREAT WESTERN CONTAINERS INC., TPL Plastech Ltd., Vallero International S.r.l., Remcon Plastics Incorporation, Orlando Drum Container Corporation, and Hazmatpac, Inc. are key players in the plastic drums market.

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