Fiber Drums Market Forecasts to 2028 – Global Analysis By Closure Type (Fiber, Metal and Plastic), Liner (Foam, Polyethylene and Others), Capacity, Application (Upto 25 Gallons, 25-50 Gallons and Others), End User and By Geography
According to Stratistics MRC, the Global Fiber Drums Market is accounted for $480.84 million in 2020 and is expected to reach $937.21 million by 2028 growing at a CAGR of 8.7% during the forecast period. Increase in demand for secure food supplies, recyclability of fiber drums and growth in retail sector are driving the market growth. However, supply chain disruptions and incapability of forklifts to handle fiber drums are hampering the growth of the market.
Fiber drums are used for storing and shipping a wide range of products which include adhesives, dye and colorants, food products and flavorings, rolled sheet material as well as numerous chemicals. It is a cost-effective substitute to steel and plastic drums which are expensive. These drums are eco-friendly and completely recyclable in nature.
Based on the capacity, the 50-75 gallons segment is going to have lucrative growth during the forecast period which can be attributed to the increasing use of fiber drums included under this segment in the food & beverage industry across the globe.
By geography, North America is going to have high growth during the forecast period as the region is expected to provide ample opportunities to the market during the forecast period. The region has also witnessed major demand for fiber drums in sectors like construction, and building which is expected to the boost the market growth.
Some of the key players profiled in the Fiber Drums Market include Berlin Packaging, C.L Smith Company, Enviro-Pak, Inc., Fibre Drum Company, Fibrestar Drums Limited, Great Western Containers Inc., Grief Inc, Industrial Container Services, Inc., Mauser Group N.V., Milford Barrel Co Inc., Orlando Drum & Container Corporation, Patrick J. Kelly Drums, Schutz Container Systems, Inc., Sonoco Products Company and Three Rivers Packaging Inc.
Closure Types Covered:
• Fiber/Cardboard Closure
• Metal Closure
• Plastic Closure
• Aluminium Foil
• Upto 25 Gallons
• 25-50 Gallons
• 50-75 Gallons
• Above 75 Gallons
• Hazardous waste
End Users Covered:
• Building & Construction
• Food & Beverages
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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