Packaging Drum Market Trends and Forecast
The future of the global packaging drum market looks promising with opportunities in the chemical, petrochemical / lubricant, food & beverage, and pharma / cosmetic markets. The global packaging drum market is expected to grow with a CAGR of 5.1% from 2024 to 2030. The major drivers for this market are growing need for reliable and efficient packaging solutions for international transportation, environmental concerns and the shift towards sustainable practices, and stringent regulations and safety standards.
• Lucintel forecasts that plastic drums is expected to witness the highest growth over the forecast period.
• Within this market, chemical is expected to witness the highest growth.
• APAC is expected to witness highest growth over the forecast period.
United States - Mauser Packaging Solutions announced investments in advanced manufacturing technologies to enhance production efficiency and reduce environmental impact, aligning with government initiatives promoting sustainable packaging practices and waste reduction targets.
Germany - Schütz GmbH & Co. KGaA launched a comprehensive recycling program for packaging drums, aiming to increase the recyclability of its products and meet government recycling targets. Collaborations with local authorities enhance infrastructure for drum recycling.
China - Greif, Inc. expanded its presence in the Chinese market with the introduction of innovative drum designs tailored for diverse industrial applications. Government incentives for eco-friendly packaging solutions encourage investments in sustainable drum manufacturing processes.
Brazil - Mauser Packaging Solutions implemented a circular economy model for packaging drums, focusing on reuse and refurbishment to minimize waste generation. Government regulations promoting the use of recycled materials in packaging support industry efforts toward sustainability.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Packaging Drum by Segment
The study includes a forecast for the global packaging drum by type, application, and region.
Packaging Drum Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Plastic Drums
• Metal Drums
• Fiber Drums
Packaging Drum Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Chemicals
• Petrochemicals / Lubricants
• Food & Beverage
• Pharma / Cosmetic
• Others
Packaging Drum Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Packaging Drum Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies packaging drum companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the packaging drum companies profiled in this report include-
• Greif Industrial
• Schütz
• Fustiplast
• TR Lentz
• Plastimol
• Bilcam
• Bidones Egara
Recent Development in the Packaging Drum Market
Mauser Packaging Solutions: Mauser introduced a novel drum design equipped with smart technology, enabling real-time tracking of contents and environmental conditions during storage and transportation, enhancing safety and efficiency in bulk packaging operations.
Schütz GmbH & Co. KGaA: Schütz unveiled an innovative lightweight drum variant constructed from eco-friendly materials, reducing carbon footprint without compromising on durability, meeting the increasing demand for sustainable packaging solutions in the industry.
Greif, Inc.: Greif launched a collaborative initiative with partners across the supply chain to develop a closed-loop system for drum recycling, aiming to maximize material reuse and minimize waste generation, contributing to a more circular economy approach in packaging.
Mauser Packaging Solutions: Mauser announced the implementation of a state-of-the-art automated production line for packaging drums, enhancing manufacturing efficiency and scalability to meet growing market demand while maintaining stringent quality standards.
Features of the Global Packaging Drum Market
Market Size Estimates: Packaging drum market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Packaging drum market size by type, application, and region in terms of value ($B).
Regional Analysis: Packaging drum market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the packaging drum market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the packaging drum market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for packaging drum market?
Answer: The global packaging drum market is expected to grow with a CAGR of 5.1% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the packaging drum market?
Answer: The major drivers for this market are growing need for reliable and efficient packaging solutions for international transportation, environmental concerns and the shift towards sustainable practices, and stringent regulations and safety standards.
Q3. What are the major segments for packaging drum market?
Answer: The future of the global packaging drum market looks promising with opportunities in the chemical, petrochemical / lubricant, food & beverage, and pharma / cosmetic markets.
Q4. Who are the key packaging drum market companies?
Answer: Some of the key packaging drum companies are as follows:
• Greif Industrial
• Schütz
• Fustiplast
• TR Lentz
• Plastimol
• Bilcam
• Bidones Egara
Q5. Which packaging drum market segment will be the largest in future?
Answer: Lucintel forecasts that plastic drums is expected to witness the highest growth over the forecast period.
Q6. In packaging drum market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the packaging drum market by type (plastic drums, metal drums, and fiber drums), application (chemicals, petrochemicals / lubricants, food & beverage, pharma / cosmetic, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Packaging Drum Market Market, Packaging Drum Market Market Size, Packaging Drum Market Market Growth, Packaging Drum Market Market Analysis, Packaging Drum Market Market Report, Packaging Drum Market Market Share, Packaging Drum Market Market Trends, Packaging Drum Market Market Forecast, Packaging Drum Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.