Chemical Drums Market Study: Market Landscape
Chemical Drums Market Study: Market Landscape
The Chemical Drums Market is experiencing rapid growth driven by increase in liquid chemical transportation

The chemical drums market primarily deals with metal or plastic drums that are used for the storage and transportation of liquid chemicals in various end-use industries such as chemical, oil and lubricant, food and beverage, pharmaceutical, paints and dyes, and others. Metal drums are generally made of steel or aluminum, while plastic drums are made of polyethylene (PE), polypropylene (PP), and high-density polyethylene (HDPE). These containers protect liquid chemicals from external contamination and spillage during transit.

The global chemical drums market is estimated to be valued at US$ 21.44 Bn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030.

Key Takeaways

Key players operating in the chemical drums market are Greif, Inc., Mauser Group, SCHÜTZ GmbH & Co. KGaA, Time Technoplast Ltd., Hoover Ferguson Group, Balmer Lawrie & Co. Ltd., Sicagen India Ltd., Industrial Container Services, LLC, Fibrestar Drums Limited, Snyder Industries, Inc., Sonoco Products Company, Great Western Containers Inc., Myers Container LLC, Myers Industries, Inc., and Eagle Manufacturing Company.

The growing demand from chemical, pharmaceutical, oil and lubricant industries is expected to drive the growth of the market during the forecast period. The expansion of end-use industries and stringent regulations regarding chemical transportation are further fueling the demand.

Major players are focusing on expanding their production facilities as well as global footprint. Growing international trade and industrialization in developing economies will offer lucrative opportunities for manufacturers. The market is anticipated to witness high demand from the Asia Pacific region owing to rapid industrialization and environmental protection regulations.

Market key trends

One of the key trends gaining traction in the chemical drums market is the increasing demand for customized and specialized drums. Manufacturers are offering drums in various shapes and sizes as per the physical properties and transportation requirements of specific chemicals. There is also a growing demand for multi-layer and barrier drums that provide enhanced chemical resistance and improve product safety. Furthermore, the implementation of tracking and monitoring technologies such as RFID and barcode is allowing real-time container monitoring throughout the supply chain. This is expected to drive informed decision making and supply chain efficiency.

Porter’s Analysis

Threat of new entrants: Low economies of scale and high setup costs like the cost of establishing manufacturing units and distribution networks pose entry barriers.

Bargaining power of buyers: Chemical drums market has many buyers globally, so bargaining power is high as buyers can negotiate on price and demand better quality.

Bargaining power of suppliers: Presence of several drum manufacturers globally means buyers have multiple supplier options, lowering suppliers’ bargaining power.

Threat of new substitutes: No direct substitutes exist currently but IBCs and flexitanks are gaining adoption as sustainable packaging alternatives.

Competitive rivalry: Market is dominated by few international players resulting in cutthroat competition on factors like pricing, product innovation and quality.

Geographical regions of concentration

Asia Pacific accounts for over 40% of global chemical drums market value owing to high demand from end-use industries like oil & gas, chemicals, petroleum, agrochemicals in countries like China, India, Japan and South Korea. China alone contributes over 25% market share in the region.

Fastest growing region

Europe’s chemical drums market is expected to grow at the fastest CAGR during the forecast period due to strict environmental regulations favoring reusable packaging and initiatives to promote sustainable development goals in countries like Germany, UK, France, Italy and Netherlands.

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