Out of the US$ 665 million revenue of the global fire drums market predicted by Zion Market Research, over US$ 190 million is predicted to be contributed by the US alone. The — global fiber drums market is projected to develop with a CAGR of 6.7% by the end of 2025.
The key players in the fiber drums market are Industrial Container Services, Mauser Group B.V., Grief Inc., TPL Plastech Ltd., C.L.Smith, Three Rivers Packaging Inc., Enviro-Pak Inc., Milford Barrel Co. Inc., Fibrestar Drums Limited, Great Western Containers, Sonoco Product Company, and Patrick J. Kelly Drums, Inc.
Increasing Inclination For Lightweight Bulk Containers To Boost The Growth Of The Global Market
Some of the major factors boosting the development of the global fiber drums market are the increasing retail industry and the rising inclination for lightweight bulk containers. The main benefit of employing fiber drums is that they are fully recyclable. Most of these goods are employed for storage of liquid products and transportation and can be lined with different insoluble materials or coatings such as polyethylene, silicon, or polyester. The fiber drum’s performance is confirmed by two basic tests—compression test or stacking and drop test in order to verify the quality.
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Ease Of Handling And Portability To Contribute To The Growth Of Global Market
Fiber drums can be customized easily and their broad range allows simple adoption with maritime trucks and containers. Ease of handling and portability are the two major factors that are favored by the packaging and logistics solution-oriented sectors. The lightweight of the drum makes it perfect for the storage and transportation of hazardous materials. These factors are adding to the development of the market all over the world. In addition to this, the elevation in intercontinental trade and increasing retail industry are towering the global fiber drums market.
China To Lead The Global Market In The Years To Come
China has shown an imposing development in the manufacturing of fiber drums. China towers over other nations such as Singapore and Malaysia in terms of value. The increasing distress for sophisticated packaging solutions for the products by renowned and local players has translated into enhanced quality of fiber drums. Hence, the outlook for the global market of fiber drums is projected to be towering in the years to come.
The global fiber drums market is segmented as follows:
By closure type
By holding capacity
below 25 gallons
above 75 gallons
By end-use industry
Fiber drums consumption
Food and agro-allied
Building and construction
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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