Between 2022 and 2030, the worldwide drum liners market is anticipated to expand in a comprehensive manner. By 2030, the value is expected to have increased by a CAGR of 3.9%, or US$ 688.3 Mn.
For the industrial packaging of chemicals, food components, powders, and solvents, drums are a very common choice. Steel, plastic, and fibre drums are all extremely compatible with drum liners. It is projected that the availability of drum liners made of various materials, including food grade certified by the EU and FDA, anti-static, and barrier foil, would increase their safety and make them suitable for use by numerous businesses. Drum liners improve drum recycling and present manufacturers and shipping firms with cost-saving opportunities.
According to Future Market Insights (FMI), the drum liner market would grow at a 3.9 percent CAGR between 2020 and 2030. Drum liners are used in a variety of industries, including food and beverage, automotive, and others. The demand for industrial, chemicals, and lubricants is expected to grow at a rate of about 4% throughout the projection period, according to FMI. While the F&B sector is predicted to grow at a slower pace in 2020 due to COVID-19, demand is expected to build up progressively from 2021 onwards.
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A similar pattern is anticipated to emerge in other regional marketplaces. During COVID-19, growth in Europe, North America, and other regions will be severely limited. However, according to FMI, demand in East Asia and South Asia will progressively increase in 2021, gaining traction from 2020 onwards and exhibiting a stronger CAGR than mature markets such as North America and Europe.
The market is likely to be driven by increased demand in industrial production and residential development. The reusability of drums, as well as their low cost, are projected to contribute to the drum liners market’s favourable growth.
COVID-19 Impact Analysis
The COVID-19 pandemic has disrupted various industries including the drum liners market. Transport bans in several countries has restricted the need for drum liners. Limitations for the import of raw materials has also slowed down production. The market experienced a negative 1.3% CAGR during 2020.
The drum liner market is predicted to bounce back exhibiting a moderate pace of growth 2021 onwards. Following the pandemic, increasing demand for safe and hygienic garbage disposal and storage is expected to drive the market growth.
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Key Takeaways from Drum Liners Market Report
The demand for drum liners is expected to surge in paint, inks, and dyes segment
Increasing production and exportation of petroleum and oils has been fuelling demand for drum liners in Asia
The demand for flexible drums forecast to rise as demand from chemical industry increases
Design of straight-sided liners is increasingly preferred among end users
The demand from industrial chemicals and lubricants segment will continue surging through the forecast period
Who Is Winning?
Companies operating in the drum liners market are focusing on the usage of eco-friendly materials in drum liners in order to offer improved sustainability. For instance, Mondi, one of the prominent names in paper and packing industry, has developed one-of-its-kind sustainable polycoated kraft (PCK) paper release liner, which it plans to launch on a global scale. Mondi’s NextLiner uses recycled paper as base with coatings derived from renewable sources to leave a positive impact on environmental footprint.
Some of the key players in the market are Sealed Air Corporation, Welch Fluorocarbon Inc., Sri Lakshmi Vishnu Plastics, Spp Poly Pack Pvt. Ltd., Vestil Manufacturing Corporation, Bemis Company Inc., CDF Corporation, Heritage Packaging, Toray Industries, Allied Plastics, Mitsubishi Chemicals, Berry Plastic Corporation and Steiner Electric Company.
Competitive Landscape
The drum liners market top players account for 10-20% of the global production. The key players operating in the market have strategic focus on geographic and product portfolio expansion to gain competitive edge by providing the customers with a wide range of products.
- ILC Dover, in September 2020, acquired UK-based Solo Containment with the objective of expanding its product portfolio (products utilized in biopharmaceutical and pharmaceutical manufacturing) along with making its presence felt in Europe.
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Key Segments Covered in Drum Liners Industry Research
Drum Liners Market by Design Type
- Straight-sided Liners
- Accordian Liners
- Combination Liners
- Others
Drum Liners Market by Drum Liner Type
- Flexible Drum Liner
- Semi Rigid Drum Liner
Drum Liners Market by End-use
- Industrial Chemicals and Lubricants
- Paints, Inks, and Dyes
- Food and Beverages
- Cosmetics and Pharmaceuticals
- Building and Construction
- Others
Drum Liners Market by Region
- North America Drum Liners Market
- Latin America Drum Liners Market
- Europe Drum Liners Market
- East Asia Drum Liners Market
- South Asia Drum Liners Market
- Oceania Drum Liners Market
- Middle East & Africa (MEA) Drum Liners Market
Related Links –
https://ai.wiki/read-blog/56407
https://www.launchora.com/story/oil-resistant-packaging-market-size-industry-tre
https://teletype.in/@nk99fmi/QGtHRfwZSDQ
About Future Market Insights, Inc.
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