Fiber Drum Market is likely to Witness 7.8% CAGR During the Forecast Period

Pune, India, November 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Fiber Drum Market.

Market Highlights

The global fiber drum market has been witnessing substantial growth in the past few years. The higher demand attributed to rising industrialization and urbanization. The booming retail sector has further fueled the market demand. The fiber drums are widely used for the storage and transportation of chemicals & fertilizers, food, agricultural products, plastics, and other products.

The Global Fiber Drum Market has been segmented based on closure type, capacity, end-use industry, and region. The global fiber drum market is segmented by closure type as metal closure, plastic closure, and fiber/cardboard closure. The metal closure segment held the largest market share of the global fiber drum market in 2018; it is expected to have the highest growth during the forecast period. The global fiber drum market is segmented by capacity as up to 25 gallons, 26–50 gallons, 51–75 gallons, and above 75 gallons. The 51–75 gallons segment held the largest market share of the global fiber drum market in 2018; it is expected to have the highest growth during the forecast period. By end-use industry, the global fiber drum market is segmented as chemical industry, food and beverages, pharmaceuticals, building and construction, and others. The chemical industry is set to witness the highest growth rate and is projected to the majority of share of the global fiber drum market

Asia-Pacific is estimated to be the fastest-growing region in the fiber drum market during the forecast period: MRFR

By region, the global fiber drum market is segmented as North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia-Pacific is likely to hold the largest market share and, in terms of value, is expected to be the fastest-growing region in the fiber drum market. This is due to the increasing number of fiber drum manufacturing units in countries such as China, India, Australia, and Indonesia in the region. Furthermore, 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 2018, which will continue to dominate the regional market until the end of 2030. The rapid growth of the chemical industry in China has further boosted the demand for fiber drums in China.

North America is likely to hold the second-largest share of the fiber drum market, owing to the growing food & beverage industry in the region. The fiber drum also has applications in the food & beverage industry. The US is estimated to dominate the fiber drum market in the region, owing to the increasing demand for fiber drums in the food & beverage industry. 

Due to the increasing use of fiber drums in the food & beverage and pharmaceutical industries, the fiber drum market in Europe is expected to grow significantly in the coming years. Italy and Germany collectively hold a significant share of the fiber drum market. South America and the Middle East & Africa are likely to grow with stagnant rate during the forecast period.

The Global Fiber Drum Market size was valued at USD 800 Million in 2018, which is expected to witness 7.8% CAGR during the forecast period.

Global Fiber Drum Market, 2018–2025 (USD Million) 

Source: MRFR Analysis

Scope of the Report

This study provides an overview of the global fiber drum market, tracking two market segments across five geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global fiber drum market by type, end-use industry, and region.

• 
  By Type
  
  
  
  • 
    Metal Closure
  
  
  • Plastic Closure
  
  
  • Fiber/Cardboard Closure
  
  
  
  

• 
  By Capacity
  
  
  
  • Up to 25 Gallons
  
  
  • 26–50 Gallons
  
  
  • 51–75 Gallons
  
  
  • Above 75 Gallons
  
  
  
  

• 
  By End-Use Industry
  
  
  
  • Chemical
  
  
  • Food & Beverage
  
  
  • Pharmaceuticals
  
  
  • Building and Construction
  
  
  • Others
  
  
  
  

• 
  By Region
  
  
  
  • North America 
  
  
  • Asia-Pacific 
  
  
  • Europe
  
  
  • South America
  
  
  • Middle East & Africa  
  
  
  
  

Key Players

The Prominent Players operating in the Global Fiber Drum Market include Greif (US), CL Smith (US), Fibrestar Drums (UK), Schutz Container Systems (US), Mauser Group (US), TPL Plastech (India), Industrial Container Services (ICS) (Florida), Three Rivers Packaging (US), Sonoco Product (US), Enviro-Pak (US), Orlando Drum & Container (US), and Great Western Container (Canada).

Browse Full Report: Fiber Drum Industry