Future Market Insights in a detailed market study published this month on fiber drums Market forecast the global market to surpass US$ 1.6 Bn mark by 2030. The need for change in packaging solutions is shifting focus on uptake of sustainable materials. As this trend gains momentum it is expected to fuel the growth of the global fiber drums market. Fiber drums are a near-perfect alternative to using plastic and other non-recyclable materials for production of rigid containers. Future Market Insights predicts that the demand for these drums will soar at a recognizable pace as the world inches closer to making environment-friendly choices.
| Fiber Drums Market Size (2022) | US$ 1 Bn | |
| Projected Market Value (2030) | US$ 1.6 Bn | |
| Global Market Growth Rate (2022-2030) | 5.5% CAGR | |
| Collective Value Share: 3 Countries (2022E) | 34 | % |
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In tandem with the same sentiment, manufacturers and retailers have begun to experiment with materials and designs for packaging. Players in the retail industry are looking to curb the plastic waste generation by adoption of materials such as metal, glass and fiber which will lead to circular delivery models. Manufacturers have high focus on their approach to address sustainable packaging owing to growing consumer awareness.
Fiber drums are thus being used for storing and transporting a variety of different goods and materials, including powders, soaps, grains, spices, chemicals, fertilizers and metal parts. Fiber drums are made with layers of cardboard or fiberboard which makes them recyclable and a greener alternative compared to plastic drums. The lightweight material of fiber drum is safe, secure and solid which ensures preservation of goods stored in them.
Key Takeaways of Fiber Drums Market Study
- Food & agro allied industry is estimated to be the key end user industry of fiber drums as it is slated to account for 46% of the market by 2030
- 25-50 gallons fiber drums to have an incremental opportunity of US$ 273 Mn by 2030 owing to extensive usage in shipping and storing and ease in handling
- Metal closure is estimated to account for 69% of the global market by value and reach slightly over US$ 1,084 Mn in 2030
- Europe estimated to account for 1/4th market share in the fiber drums market owing to demand for sustainable packaging solutions.
- East Asia is estimated to have an incremental opportunity of US$ 171 Mn by 2030 due to the growth of end-use industries in the region
Intercontinental Trade of Industrial Products to Boost Demand for Fiber Drums
Growth in demand for fiber drums is expected to result from expanding intercontinental trade. This is likely to boost the demand for shipping and packaging industry, consequently raising the uptake of fiber drums as packaging solution.
Vendors in the fiber drums market have consistently worked on improvement in product design and value creation for end user. Since, global trade of industrial products has also increased three fold during the past decade, it necessitated industries such as bio-chemical manufacturers, food grade ingredient manufacturers, pharmaceutical companies etc. to use fiber drums to reduce their carbon footprint.
Demand is also anticipated to be driven by widened use of large, layered fiber drums which ensures increased performance and are also economic in terms of drums made with materials such as metal and plastic. The adequate sealing of these drums with metal makes them an ideal choice for shipping across rough seas. The increasing performance of lightweight bulk containers such as these drums has strengthened the scope of their usage.
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Scope of the Report
| Attribute | Details |
| Forecast Period | 2022-2030 |
| Historical Data Available for | 2014-2021 |
| Market Analysis | US$ Mn/Bn for Value |
| Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa |
| Key Countries Covered | U.S., Canada, Brazil, Mexico, Germany, U.K., France, Italy, Spain, Benelux, Russia, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, China, Japan, South Korea, Australia, New Zealand, Turkey, Egypt, North Africa, South Africa, and GCC Countries |
| Key Market Segments Covered | Closure Type, Capacity, End-use, and Region |
| Key Companies Profiled | • Grief Inc.
• Sonoco Products Company • Mauser Group N.V. • C.L Smith Company • Schutz Container Systems, Inc. • Orlando Drum & Container Corporation • Industrial Container Services, Inc. • Three Rivers Packaging Inc. • Patrick J. Kelly Drums • Fibrestar Drums Limited • Milford Barrel Co Inc. • Great Western Containers Inc. • Enviro-Pak, Inc. • Berlin Packaging • Fibre Drum Company |
| Pricing | Available upon Request |
Impact of COVID-19 on Fiber Drums Market
The COVID-19 pandemic undoubtedly has led to massive disruptions in the market with shortage of raw material, fractured supply chains. The packaging industry highly depends on related industries for its sales and revenues. Thus, with every other industry taking a hit, the fiber drums market is also seen a decline in sales in Q1-Q2 2020.
Fiber drums manufacturers, will need to adapt with the global pandemic, which is forcing manufacturers to look for contingency plans and understand the vulnerabilities associated with the supply chain. This might result in reducing dependencies on any one country and increasing preference for domestic players for the need of raw materials. In the long run this could also boost local economies, create jobs, and reduce cost of raw materials.
The fiber drums market is largely dependent on demand from end use industries such as chemical Industry, food & agro-allied industry, pharmaceutical industry, building & construction industry and others. In the coming days, as supply chains restore, demand for food & agro allied and pharmaceutical industries will witness a high demand owing to food security issues and increasing number of patients with COVID-19 and otherwise.
These two types of demands are projected to drive the fiber drums market as shipping these on urgent basis will be national priority. Ensuring pharmaceuticals and food reaches the end user in a non-contaminated and intact manner will play a critical role in the deciding the success of this market.
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Fiber Drums Market Landscape
Grief Inc., Sonoco Products Company and Mauser Group N.V. are the top players operating in the fiber drums market. Furthermore, C.L Smith Company, Schutz Container Systems, Inc., Orlando Drum & Container Corporation, Industrial Container Services, Inc. Patrick J. Kelly Drums, Fibrestar Drums Limited, Milford Barrel Co Inc. and Enviro-Pak, Inc. are prominent players in the fiber drums market. The Tier 3 players hold 4/5th market share in the global fiber drums market. In conclusion, key players contribute almost 1/5th of the global market.
Explore FMI’s Extensive ongoing Coverage on Packaging Domain
Composite Drums Market – The composite drum is a name given to the specific type of drums which has double shell. The composite drums are made up of steel and plastic together. The inner shell is made up of plastic material, generally polyethylene and outer shell are made stronger with steel to give additional protection.
Steel Salvage Drums Market – In recent years, industrial packaging have seen significant rise in demand due to technological advancement in industrial applications like petroleum, chemicals, etc. One such type of industrial packaging can be done by steel salvage drums.
Nestable Drums Market – Nestable drums reduce the space needed and lower the cost of storing and shipping empty packaging. Nestable drums ensures the food safety and migration legislation. The rubber gasket of nestable drums offers the barrier against moisture.
Corrugated Open-head Drums Market – The need for a secure transportation solution to carry solid and hazardous goods led to the development of corrugated open-head drums. The presence of a triple seam in the corrugated open-head drums gives them extra strength.
Drum Plugs Market – The consumers are looking for packaging products and solutions which offer extended shelf life and ease of use. Different types of containers play a critical role in the storage and transportation of products for a longer period.
Reconditioned Drums Market – Manufacturing the best quality, efficient and performance packaging is the need today. But the market demands for more cost-effective, environmentally friendly and better use of resources is expected to be filled by reconditioned drums market.
Drum Funnel Market – Pharmaceutical packaging industry has experienced innovative advancements in recent years. Pharmaceutical packaging companies have to focus on minimizing errors to ensure that accurate and defect-free medicines reach to the consumers.
Drum Pulper Market – According to the latest research by Future Market Insights, the global Drum Pulper Market will witness a steady growth the forecast period 2021-2031 at a CAGR of 1.0%.
Insulated Drum Covers Market – Demand for insulated drum covers market will witness steady recovery in short-term, with an optimistic growth outlook in the long-run. The need to maintain proper care and quality of products shipped internationally is expected to drive the market.
Overpack Drum Market – According to the study, the overpack drum market is set to witness rapid growth during 2021-2031. Urbanization and increase in global trade are indicating the rising need for overpack drum in the global market.
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