Global Industrial Drum Market Overview
As per MRFR analysis, the Industrial Drum Market Size was estimated at 153.27 (USD Billion) in 2022.
The Industrial Drum Market Industry is expected to grow from 160.14 (USD Billion) in 2023 to 237.58 (USD Billion) by 2032. The Industrial Drum Market CAGR (growth rate) is expected to be around 4.48% during the forecast period (2024 - 2032).
Key Industrial Drum Market Trends Highlighted
The industrial drum market is experiencing significant growth, driven by increasing demand from various end-use industries. Key drivers include stringent environmental regulations, rising awareness about waste management, and the growing adoption of sustainable packaging solutions.Opportunities for market expansion lie in the development of innovative materials, such as lightweight and recyclable plastics, and the integration of smart technologies for efficient handling and tracking. The shift towards automation and IoT-enabled systems is also presenting new opportunities for growth.Recent trends in the industrial drum market include the growing popularity of reconditioned and recycled drums, as well as the adoption of reusable packaging solutions. Additionally, the increasing use of drums for storing and transporting hazardous materials is driving innovation in safety features and compliance standards.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Drum Market Drivers
Rising Demand for Industrial Chemicals
The Industrial Drum Market is primarily driven by the increasing demand for industrial chemicals. Industrial drums are used for the storage and transportation of a wide range of chemicals, including solvents, acids, bases, and hazardous materials. The growth of the chemical industry is expected to continue in the coming years, driven by factors such as the increasing demand for plastics, pharmaceuticals, and fertilizers. This growth will lead to a corresponding increase in the demand for industrial drums. In addition to the growth of the chemical industry, the increasing demand for industrial drums is also being driven by the growing awareness of environmental regulations.Industrial drums are essential for the safe and compliant storage and transportation of hazardous materials. As environmental regulations become more stringent, the demand for industrial drums is expected to increase. The Industrial Drum Market is expected to grow significantly in the coming years. The market is expected to be driven by the increasing demand for industrial chemicals, the growing awareness of environmental regulations, and the expanding manufacturing sector.
Growing Manufacturing Sector
The growth of the manufacturing sector is another key driver of the Industrial Drum Market. Industrial drums are used in a variety of manufacturing processes, including the production of chemicals, pharmaceuticals, food and beverages, and automotive parts. The growth of the manufacturing sector is expected to continue in the coming years, driven by factors such as the increasing demand for consumer goods, the expansion of emerging markets, and the adoption of new technologies.This growth will lead to a corresponding increase in the demand for industrial drums.
Increasing Adoption of Flexible Packaging
The increasing adoption of flexible packaging is another factor that is driving the growth of the Industrial Drum Market. Flexible packaging is a type of packaging that is made from a flexible material, such as plastic or aluminum foil. Flexible packaging is lighter and more compact than traditional packaging, which makes it easier to store and transport. The increasing adoption of flexible packaging is expected to continue in the coming years, driven by factors such as the growing demand for convenience and the increasing popularity of online shopping.This growth will lead to a corresponding increase in the demand for industrial drums.
Industrial Drum Market Segment Insights
Industrial Drum Market Material/ Composition Insights
The Industrial Drum Market segmentation by Material/ Composition comprises Steel, Plastic, Aluminum, and Fiber. Steel drums are the most widely used type of industrial drum, accounting for over 60% of the market share. They are strong, durable, and can withstand high pressures and temperatures. Steel drums are also relatively inexpensive to manufacture, making them a cost-effective option for many industries. Plastic drums are a growing segment of the market, as they offer several advantages over steel drums. Plastic drums are lighter and easier to handle, and they are resistant to corrosion and chemicals.They are also more hygienic than steel drums, making them ideal for use in the food and beverage industry. Aluminum drums are lightweight and strong, and they offer excellent corrosion resistance. They are often used in the aerospace and automotive industries. However, aluminum drums are more expensive than steel or plastic drums. Fiber drums are made from a variety of materials, including cardboard, paper, and wood. They are lightweight and inexpensive, making them a good option for shipping non-hazardous materials. However, fiber drums are not as durable as steel or plastic drums, and they can be damaged by moisture and pests.The Industrial Drum Market revenue is expected to reach $160.14 billion by 2023. Growth in the market is being driven by increasing demand from the oil and gas, chemical, and food and beverage industries.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Drum Market Capacity Insights
The Industrial Drum Market is segmented by capacity into less than 50 liters, 50 to 200 liters, 200 to 500 liters, and more than 500 liters. The 50 to 200 liters segment is expected to hold the largest market share in 2023, accounting for 40% of the global revenue. This is due to the high demand for these drums from various industries, including chemical, food and beverage, and pharmaceutical. The more than 500 liters segment is expected to witness the fastest growth during the forecast period, owing to the increasing demand for large-capacity drums for the storage and transportation of bulk materials.
Industrial Drum Market Application Insights
The application segment of the Industrial Drum Market is categorized into chemical storage, food and beverage processing, pharmaceuticals, and oil and gas. Chemical storage is the largest application segment, accounting for over 40% of the market share in 2023. This is due to the increasing demand for industrial drums for storing hazardous and non-hazardous chemicals in various industries, such as chemical manufacturing, pharmaceuticals, and food and beverage processing. The food and beverage processing industry is another major application segment, accounting for around 25% of the market share.Industrial drums are used for storing and transporting food and beverage products such as juices, milk, and other liquids. The pharmaceutical industry is also a significant application segment, with a market share of around 15%. Industrial drums are used for storing and transporting pharmaceutical products such as active pharmaceutical ingredients (APIs), excipients, and finished drug products. The oil and gas industry is another key application segment, accounting for around 10% of the market share. Industrial drums are used for storing and transporting crude oil, refined petroleum products, and other oil and gas products.
Industrial Drum Market Closure Type Insights
The Closure Type segment of the Industrial Drum Market is categorized into Open Top, Tight Head, and Removable Lid. Among these, the Open Top segment held the largest market share in 2023, accounting for around 42.5% of the global revenue. This dominance is attributed to the ease of filling and emptying drums with open tops, making them suitable for various applications. Tight Head drums, on the other hand, are expected to witness the highest growth rate during the forecast period (2023-2032), growing at a CAGR of 4.8%. This growth is driven by the increasing demand for leak-proof and secure packaging solutions in hazardous and sensitive material handling industries.Removable Lid drums offer the advantage of easy access to the contents, making them suitable for applications where frequent inspection or sampling is required. This segment is anticipated to hold a significant market share throughout the forecast period.
Industrial Drum Market Industry Insights
Industry The industrial sector is a major consumer of drums, with sectors such as automotive, manufacturing, construction, and mining accounting for a significant share of the Industrial Drum Market revenue. In 2023, the automotive industry held the largest market share, driven by the increasing production of vehicles and the need for safe and efficient storage and transportation of fluids and chemicals. The manufacturing sector is another key consumer, with drums used for storing raw materials, intermediates, and finished goods. The construction industry also utilizes drums for storing and transporting materials such as concrete, adhesives, and solvents.The mining industry uses drums for storing and transporting chemicals, lubricants, and other materials used in mining operations. The demand for industrial drums is expected to continue to grow in these industries, driven by factors such as increasing industrialization, population growth, and the need for efficient and sustainable storage solutions.
Industrial Drum Market Regional Insights
The Industrial Drum Market is segmented into North America, Europe, APAC, South America, and MEA. North America dominates the market with a revenue of 60.14 billion USD in 2023, owing to the presence of major manufacturers and end-use industries. Europe follows with a revenue of 45.78 billion USD, driven by stringent regulations and a focus on sustainability. APAC is expected to grow at the highest CAGR of 5.48%, reaching a revenue of 55.67 billion USD by 2032 due to rapid industrialization and infrastructure development. South America and MEA are expected to contribute a revenue of 18.3 billion USD and 13.4 billion USD, respectively, by 2032, driven by increasing demand from the mining, construction, and manufacturing sectors.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Drum Market Key Players And Competitive Insights
Major players in the Industrial Drum Market industry are constantly striving to improve their product offerings and gain a competitive edge. Leading Industrial Drum Market players are investing in research and development to develop innovative products that meet the evolving needs of customers. The Industrial Drum Market Competitive Landscape is characterized by intense competition among established players and new entrants. These companies are focusing on expanding their global footprint through strategic partnerships and acquisitions. To stay competitive, companies are also focusing on cost optimization and improving operational efficiency.Berry Global, Inc. is a leading global supplier of plastic packaging and engineered materials. The company's Industrial Drum Market division offers a wide range of plastic drums, pails, and containers for various industries, including chemical, food, and beverage. Berry Global has a strong global presence with manufacturing facilities in North America, Europe, and Asia-Pacific. The company is known for its high-quality products and customer service.Schtz GmbH & Co. KGaA is another major player in the Industrial Drum Market industry. The company is headquartered in Germany and has a global presence with production facilities in Europe, North America, and Asia. Schtz specializes in the production of steel drums, plastic drums, and IBCs (intermediate bulk containers). The company is known for its innovative products and commitment to sustainability.
Key Companies in the Industrial Drum Market Include
- International Paper
- Plastipak Holdings
- Charter Packaging
- Hoover Ferguson
- Sonoco Product
- Berry Global
- Smurfit Kappa
- Greif
- Rocktenn
- SealRite Packaging
- Promens
- Alpla Group
- Mondi Group
- Mauser Group
Industrial Drum Market Industry Developments
The Industrial Drum Market is projected to reach USD 237.58 billion by 2032, exhibiting a CAGR of 4.48% from 2024 to 2032. Rising demand for efficient packaging solutions in various industries, including chemical, food and beverage, and pharmaceuticals, is driving market growth. Additionally, stringent government regulations on the handling and storage of hazardous materials are fueling the demand for robust and compliant industrial drums. Technological advancements, such as the integration of RFID and IoT devices, are enhancing drum tracking and inventory management, further driving market expansion. Key players in the market include Greif, Inc., Mauser Group, and Schtz GmbH & Co. KGaA. Recent developments include the launch of sustainable and recyclable drum solutions, catering to the growing demand for eco-friendly packaging.
Industrial Drum Market Segmentation Insights
- Industrial Drum Market Material/ Composition Outlook
- Steel
- Plastic
- Aluminum
- Fiber
- Industrial Drum Market Capacity Outlook
- Less than 50 liters
- 50 to 200 liters
- 200 to 500 liters
- More than 500 liters
- Industrial Drum Market Application Outlook
- Chemical Storage
- Food and Beverage Processing
- Pharmaceuticals
- Oil and Gas
- Industrial Drum Market Closure Type Outlook
- Open Top
- Tight Head
- Removable Lid
- Industrial Drum Market Industry Outlook
- Automotive
- Manufacturing
- Construction
- Mining
| Report Attribute/Metric |
Details |
| Market Size 2022 |
153.27 (USD Billion) |
| Market Size 2023 |
160.14 (USD Billion) |
| Market Size 2032 |
237.58 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.48% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
International Paper, Plastipak Holdings, Charter Packaging, Hoover Ferguson, Sonoco Product, Berry Global, Smurfit Kappa, Greif, Rocktenn, SealRite Packaging, Promens, Alpla Group, Mondi Group, Mauser Group |
| Segments Covered |
Material/ Composition, Capacity, Application, Closure Type, Industry, Regional |
| Key Market Opportunities |
Ecommerce Expansion Technological advancements Growing demand for packaging in emerging markets Sustainable packaging initiatives Customization and personalization |
| Key Market Dynamics |
Rising Demand from Chemical and Pharmaceutical Industries Adoption of Automation and Advanced Manufacturing Techniques Increasing Focus on Sustainable Packaging and Raw Materials Strategic Expansions and Mergers and Acquisitions Growing Emphasis on Compliance and Safety Standards |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Industrial Drum Market is expected to reach USD 237.58 billion by 2032, growing at a CAGR of 4.48% from 2024 to 2032.
North America is the largest consumer of industrial drums, accounting for over 40% of the global market in 2023.
Industrial drums are primarily used for storing and transporting hazardous and non-hazardous materials, such as chemicals, paints, solvents, and food products.
Key competitors in the Industrial Drum Market include Greif, Inc., Mauser Group, Schtz GmbH & Co. KGaA, and Hoover Ferguson Group.
Growth in the chemical and manufacturing industries, increasing demand for hazardous material storage, and rising environmental regulations are key growth drivers for the Industrial Drum Market.
Fluctuating raw material prices, stringent environmental regulations, and competition from alternative packaging solutions are major challenges faced by the Industrial Drum Market.
Emerging trends in the Industrial Drum Market include the adoption of sustainable materials, smart drums with IoT capabilities, and e-commerce platforms for distribution.
The Industrial Drum Market is projected to grow from USD 160.14 billion in 2023 to USD 237.58 billion by 2032, at a CAGR of 4.48%.
Growing demand from end-use industries, increasing disposable income, and rising urbanization are expected to drive the growth of the Industrial Drum Market.
Economic downturns, trade barriers, and technological advancements can pose potential risks and challenges for the Industrial Drum Market.
