Global Fiber Drums Market is anticipated to reach US$ XX Mn by 2026 from US$ XX Mn in 2019 at a CAGR of 5.9% during the forecast period.
Global Fiber Drums Market Overview:
Fiber drums are used to storing and shipping variety of products including food, agricultural, plastics, products and flavourings, dye and colorants, adhesives, rolled sheet material as well as various hazardous chemicals. Fibers drums have circular cross-sections with parallel side walls made of thin paperboard or unbleached Kraft paper windings.Fiber drums have better corrosion resistance as compared to steel or plastic drums as its interior layer is made up of paper that is coated with foil or poly lining.
The study includes a detailed market assessment. It does so by in-depth qualitative perspectives, historical evidence, and market size verifiable predictions. Using validated research methodologies and assumptions, the predictions featured in the study have been derived. The research report thus serves as an analysis and information for all aspects of the market, including, regional markets, technologies, By Application
The report has profiled key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimating the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in APAC region. Major country’s policies about manufacturing and its impact on market demand are covered in the report.
Global Fiber Drums Market: Dynamics
The key factors increasing the demand of the fiber drums market such as the growing retail sector and the increasing preference for lightweight bulk containers. The main advantage of using fiber drums is that they are 100% recyclable. Most of the fiber drums used for transportation and storage of liquid products such as adhesives and dyestuff can be lined with different coatings or insoluble materials such as, silicon, polyethylene, or polyester. Performance of the fiber drum is verified by two fundamental tests- drop test and stacking or compression test in order to check the quality.
Fiber drums are widely used in various end uses and applications such as medical, food and beverages, sanitary chemicals, paints, adhesives, and a range of other chemicals. Different end-use industries have different requirements; for instance, the food and beverages segment has a requirement for FDA-compliant containers, which can be fulfilled by fiber drums.
New manufacturing technologies facilitate the addition of internal and external liners, which increases their resistance and performance for many new applications. Fiber drums are also available for lighter weight and lower volume products. These factors are boosting the growth of Fiber Drums Market in forecast period.
Global Fiber Drums Market -Segment Analysis:
Global Fiber Drums Market,by Closure Type
Global Fiber Drums Market1
To Know About The Research Methodology :- Request Free Sample Report
Due to higher strength and durability, the metal closure segment held the largest market share of the global fiber drum market in 2019; it is expected to have the highest growth during the forecast period. Plastic closure also dominating a significant share due to the plastic closures flexible and lower the cost. These factors are driving the demand for fiber drums in market.
The 51–75 gallons segment held the largest market share of the global fiber drum market in 2019. This growth can be attributed to the increasing use of fiber drums included under this segment in the food & beverage industry.
Global Fiber Drums Market, by region
In 2019, Asia-Pacific was the largest market for Fiber Drums, followed by North America and Europe.
The high demand for fiber drums in Asia-Pacific can be attributed to the presence of emerging economies in the region in countries such as China, India, Australia, and Indonesia and the increasing number of fiber drum manufacturing units. Additionally, these countries are some of the world’s largest exporters of packaging materials. Because of the low labor costs and the availability of domestic raw materials, manufacturers prefer to set up production units for the packaging industry in Asia-Pacific. China dominated in terms of market share in 2019, which will continue its presence by the end of 2026. The rapid growth of the chemical industry in China has further boosted the demand for fiber drums in the region.
Scope of the Fiber Drums Market Report: Inquire before buying
Global Fiber Drums Market2
Global Fiber Drums Market, KEY PLAYERS-
• C.L. Smith Company
• Enviro-Pak Inc.
• Fibrestar Drums Limited
• Great Western Containers Inc.
• Grief, Inc.
• Industrial Container Services (ICS)
• Milford Barrel Co., Inc.
• Orlando Drum & Container Corporation
• Patrick J. Kelly Drums, Inc.
• SCHTZ GmbH & Co. KGaA
• Sonoco Packaging Company
• The Cary Company
• TPL Plastech Limited
• Three Rivers Packaging Inc.
This Report Is Submitted By : Maximize Market Research Company
Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.