Global Fiber Drums Market Report 2021: Market to Reach $849.9 Million by the Year 2026 – Fiber Drums to Change Protective Packaging Game with Versatility & Protective Storage Advantages – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The "Fiber Drums – Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Fiber Drums Market to Reach US$849.9 Million by the Year 2026
The global market for Fiber Drums, estimated at US$623.8 Million in the year 2020, is projected to reach a revised size of US$849.9 Million by 2026, growing at a CAGR of 5.3% over the analysis period.
Growth in the global market is attributed to a confluence of various favorable factors like rising uptake across end-use industries, expansion of the retail sector, and new avenues in emerging economies and product innovations. The market growth is favored by increasing output of hazardous chemicals that are required to be transported to different countries.
Manufacturers of fiber drums are leveraging advanced techniques to ensure external or internal liners that improve performance and resistance of these containers to make them attractive for different applications, including storage and transport of chemicals, dyes and adhesives. These drums are anticipated to gain from considerable growth of the e-commerce segment and increasing intercontinental trade.
Below 25 Gallons, one of the segments analyzed in the report, is projected to grow at a 4.6% CAGR to reach US$108 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the 25-50 Gallons segment is readjusted to a revised 5% CAGR for the next 7-year period. This segment currently accounts for a 24.1% share of the global Fiber Drums market.
50-75 Gallons Segment to Reach $452.2 Million by 2026
In the global 50-75 Gallons segment, USA, Canada, Japan, China and Europe will drive the 5.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$247.6 Million in the year 2020 will reach a projected size of US$359.4 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$48.3 Million by the year 2026, while Latin America will expand at a 6.7% CAGR through the analysis period.
The U.S. Market is Estimated at $176.1 Million in 2021, While China is Forecast to Reach $137.4 Million by 2026
The Fiber Drums market in the U.S. is estimated at US$176.1 Million in the year 2021. The country currently accounts for a 27.1% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$137.4 Million in the year 2026 trailing a CAGR of 7.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR while Rest of European market (as defined in the study) will reach US$148.1 Million by the end of the analysis period.
Asia-Pacific region retains dominant position in the market owing to the presence of numerous manufacturing facilities and strong contribution from emerging nations like India, China, Indonesia and Australia. The regional market is bolstered by increasing influx of international packaging companies due to easy access to raw materials and cheap labor.
The emergence of Asia-Pacific as a leading manufacturing hub for packaging products is anticipated to significantly benefit the fiber drums market. The market is expected to post impressive gains in the US owing to robust fiber drum demand from various applications in agro-based, chemical and food industries. The chemicals industry is likely to play a prominent role in driving the market growth due to increasing demand and transport of chemicals to diverse industry verticals.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
- Fiber Drums Market Faces the Music with Knock-on Effect of COVID-19 Pandemic
- Pandemic Impact on the Packaging Industry, One of the Key End-Uses of Fiber Drums
- An Introduction to Drums and Fiber Drums
- Benefits of Fiber Drums
- Global Fiber Drums Market Marches Ahead to Rhythmic Drumbeat: Market Prospects & Outlook
- Growth Drivers and Restraints
- Segmental Analysis
- Regional Analysis
- Competitive Scenario
2. FOCUS ON SELECT PLAYERS (Total 46 Featured)
- CL Smith
- Enviro-Pak, Inc.
- FDL Packaging Group
- Fiber Drum Company
- Fiberstar Drums Ltd.
- Great Western Containers Inc.
- Greif, Inc.
- Mauser Packaging Solutions
- Milford Barrel Co. Inc.
- Orlando Drum & Container Corporation
- Patrick J. Kelly Drums, Inc.
- The Cary Company
3. MARKET TRENDS & DRIVERS
- Fiber Drums Offer Innumerable Benefits for Businesses
- Factors Influencing Packaging Industry & Implications for Fiber Drums
- Fiber Drums to Change Protective Packaging Game with Versatility & Protective Storage Advantages
- Dumping System for Fiberboard Drums
- Environmental Benefit of Using Fiber Products
- Rise of E-Commerce & Packaging Demand: The Power of Two for Fiber Drums
- Favorable Demographics Strengthen Market Prospects
- Urban Sprawl Encourages a Positive Tide
- Sustained Demand for Food and Beverages Leading to Increased Farm Productivity Instigates Robust Demand
- Global Food Scenario: Key Facts
- Manufacturing Sector to Remain an Important Consumer: Fiber Drums offer Protection to Products
- Established Use Case in Chemicals and Petrochemicals Sector Augurs Well
- Pharmaceutical Industry: A Promising Application for Fiber Drum Packaging
- Increasing Healthcare Expenditure to Foster Market Growth
- Strong Rise in Pharmaceutical Sales to Drive Demand for Fiber Drums in Packaging
- Rapid Growth of Generic Drugs to Drive Demand
- Increasing Sales of OTC Drugs Presents Opportunity for Pharma Packaging Makers
- Contract Packaging Trend Augurs Well for Fiber Drums Used in Pharma Packaging
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
- Total Companies Profiled: 46
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