Industrial Drums Market – Growth, Trends, and Forecasts (2020 – 2025)
The Industrial Drums Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Top Leading Companies of Industrial Drums Market are Greif Inc., Sicagen India Ltd, Balmer Lawrie & Co. Ltd, Time Technoplast Ltd, SCH†TZ GmbH & Co. KGaA, Mauser Group NV, Industrial Container Services LLC, TPL Plastech Ltd, Eagle Manufacturing Company, U.S. Coexcell Inc. and others.
Industry News and Updates:
– February 2020 – Greif announced the expansion of its plastics operations on the West Coast of the United States. The company is installing a plastic drum blow molding machine in its Merced, CA facility. The blow molder is expected to be operational during the second quarter of 2020.
– June 2019 – Balmer Lawrie & Co. Ltd opened its new Industrial Packaging plant for steel drum manufacturing at Vadodara, Gujarat. The company is India’s largest 210L MS Drum manufacturer with a pan-India market share of around 34%. The company started the Vadodara plant with the aim of catering to the chemical industry with superior products and services.
Key Market Trends:
The Steel Drums Segment is Expected to Hold the Major Market Share
– Steel drum’s excellent mechanical properties, such as high strength, good protective properties, like gas barrier properties, and excellent processing performance, are expected to be positive factors in terms of usage. Moreover, it can be rolled into a various thickness of the sheet, foil, sheet stamping, rolling, stretching, and welding made of different shapes and sizes of the packaging container.
– The rise in the demand for chemicals and petroleum lubricants from varied end-user industries and a significant focus on strengthening the supply chain capability are expected to drive the need for industrial metal drums. Steel drums are also used as packaging solutions for transporting and storing hazardous or dangerous goods. Additionally, the US Department of Transportation indicated that steel drums are the safest containers.
– The chemical industry is also expected to hold significant share of the steel drum market for safe packaging solutions. According to the METI, Japan, the production volume of steel drum containers increased from 321.08 thousand metric ton in 2012 to 339.28 thousand metric ton in 2018.
The regions are further sub-divided into:
-North America (NA) – US, Canada, and Mexico
-Europe (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of Europe
-Asia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APAC
-Latin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin America
-Middle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South Africa
Influence of the Industrial Drums market report:
-Comprehensive assessment of all opportunities and risk in the Industrial Drums market.
– Industrial Drums market recent innovations and major events.
-Detailed study of business strategies for growth of the Industrial Drums market-leading players.
-Conclusive study about the growth plot of Infrared Imaging market for forthcoming years.
-In-depth understanding of Industrial Drums market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Industrial Drums market.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Industrial Drums Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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