Global Steel drums Market, By Material (Stainless Steel, Cold Rolled Steel, Carbon Steel), Head Type (Tight Head, Open Head), Capacity (Up to 10 Gallons, 10- 30 Gallons, 30- 50 Gallons, 50-80 Gallons, 80 Gallons and above), End User (Food and Beverages, Healthcare and Pharmaceuticals, Oils and Lubricants, Paints and Dyes, Chemicals and Solvents, Building and Construction, Agriculture, Other)– Industry Trends and Forecast to 2029
Market Analysis and Size
Steel drums are constructed from steel which makes them highly pretty, durable and make them leak-proof. They are ideal for transporting, storing and containing hazardous and toxic materials. Their toughness ensures the maximum protection because they won’t easily crack, tear and bend in transit. Steel drums manufacturers over all the globe are quoting a rise in demand for lucrative yet efficient packaging solutions to overcome the bulk packaging challenges. Therefore, several rigid packaging manufacturers are focusing on manufacturing innovative packaging solutions to satisfy upcoming demands from the end-user industries.
Data Bridge Market Research analyses that the steel drums market was valued at USD 11.18 billion in 2021 and is expected to reach USD 16.16 billion by 2029, registering a CAGR of 4.71 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Material (Stainless Steel, Cold Rolled Steel, Carbon Steel), Head Type (Tight Head, Open Head), Capacity (Up to 10 Gallons, 10- 30 Gallons, 30- 50 Gallons, 50-80 Gallons, 80 Gallons and above), End User (Food and Beverages, Healthcare and Pharmaceuticals, Oils and Lubricants, Paints and Dyes, Chemicals and Solvents, Building and Construction, Agriculture, Other)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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HOOVER CS (US), Snyder Industries, (US), SCHÜTZ GmbH & Co. KGa (Germany), BWAY Corporation (US), Thielmann (US) , Time Technoplast Ltd. (India), Custom Metalcraft, Inc. (US), Automationstechnik GmbH (Germany), Transtainer (Australia), Hawman Container Services (Canada), Schafer Werke Gmbh (Germany), Obal Centrum s.r.o. (Europe), Sicagen (India), Balmer Lawrie & Co. Ltd (India), Industrial Container Services (US), Myers Container (US), Orlando Drum (US), Great Western Containers Inc. (Canada), Meyer Steel Drum, Inc. (Us), Peninsula Drums (South Africa), Greif (US)
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Market Opportunities
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Market Definition
Steel is one of the most durable and reliable materials which is used in the manufacturing of industrial packaging containers. Steel drums are one of them which are majorly used to pack semi-solids liquids, and powders. Steel drums perform well over an extensive range of pressure, temperature, and humidity, while sustaining their structural reliability then it is free from flame and heat and without spills and leaks or spills. These drums are unaffected by implosion and thermal shock while maintaining proper working situations
Steel Drums Market Dynamics
Drivers
- Rise the demand in chemical industry
In chemical industry, Steel drums are used as packaging solutions for storing and transporting dangerous or hazardous goods. Steel drums are the safest containers for shipments. Due to this chemical sector holds a significant share of the steel drum market for safe packaging solutions and are expected to drive the growth rate of steel drums market.
- Increase in demand due to their properties
Steel drums are not only protect against the physical damage, but when it is properly sealed then it also protect the material against harmful UV rays, dust, moisture, and any pests that might be around the storage area. If the manufacturers add extra layers of protection to a steel drum by using waterproof covers, dust covers, and UV covers then it will use in many other purposes.
- Demand due to reliability
Steel drums are used by numerous industries to store raw materials which is used for finished products and industrial operations. These steel drum characteristic different from sizes. The 55 gallon steel drums are huge enough to contain the products of different nature, be it dry, liquid, solid or semi-liquid products. Due to their storage reliability for industrial operations, steel drums are the ideal containers.
Opportunities
The increasing inks and paints industries are demanding for secure and safe packaging solutions for their product protection. Growing paints, dyes and inks production in emerging countries, coupled with the increasing need for secure transportation of products which is projected to boost the demand for steel drums in upcoming periods. The rising investments in growing production facilities is expected to make significant growth opportunities for the growth of the steel drums market.
Restraints/ Challenges
Availability of substitute’s for instance plastic drums and containers due to their insulation and lightness features is a major factor which is expected to restrain the growth of steel drums market globally global. Fibre drums are another option in demand which are easier to handle and lighter further causing a slow-down in the growth of the market to a certain extent.
This steel drums market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the steel drums market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Steel Drums Market
The outbreak of covid-19 is adversely affected packaging industry. During pandemic the market show drastic downfall in demand of steel drums. The companies are facing problems as the trade and travel is restricted. Due to the restriction on import and export, the need for the steel drums has decreased, as they are used to transport in bulk and keep them safe. The companies have stopped their production due to disruption in the supply of raw material. Most of the factories are closed which has reduced their sales of the packaging materials.
Global Steel drums Market Scope
The steel drums market is segmented on the basis of material, head type, capacity, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Material
- Stainless Steel
- Cold Rolled Steel
- Carbon Steel
Head Type
- Tight Head
- Open Head
Capacity
- Up to 10 Gallons
- 10- 30 Gallons
- 30- 50 Gallons
- 50-80 Gallons
- 80 Gallons and above
End User
- Food and Beverages
- Healthcare and Pharmaceuticals,
- Oils and Lubricants
- Paints and Dyes
- Chemicals and Solvents
- Building and Construction
- Agriculture
- Other
Steel Drums Market Regional Analysis/Insights
The steel drums market is analysed and market size insights and trends are provided by country, products, usage, capacity, size, sealing and handle, shape, distribution channel and end-user as referenced above.
The countries covered in the steel drums market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the steel drums market in terms of revenue and market share during the forecast period. This is due to the growing demand for steel drums in this region. North America region leads the steel drums market due to the growth in the consumption for packaged goods. Moreover, the increase in the demand for food item will further increase the growth of the steel drums market in this region.
During the projected period, Asia-Pacific is projected to be the fastest developing region due to the enhanced production of chemicals and increase in the industrialization in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Steel Drums Market Share Analysis
The steel drums market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to steel drums market.
Some of the major players operating in the steel drums market are:
- HOOVER CS (US)
- Snyder Industries, (US)
- SCHÜTZ GmbH & Co. KGa (Germany)
- BWAY Corporation (US)
- Thielmann (US)
- Time Technoplast Ltd. (India)
- Custom Metalcraft, Inc. (US)
- Automationstechnik GmbH (Germany)
- Transtainer (Australia)
- Hawman Container Services (Canada)
- Schafer Werke Gmbh (Germany)
- Obal Centrum s.r.o. (Europe)
- Sicagen (India)
- Balmer Lawrie & Co. Ltd (India)
- Industrial Container Services (US)
- Myers Container (US)
- Orlando Drum (US)
- Great Western Containers Inc. (Canada)
- Meyer Steel Drum, Inc. (US)
- Peninsula Drums (South Africa)
- Greif (US)
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