The United States is poised to maintain its dominant position in the global fiber drum market, with an estimated market size of US$ 239.2 million by the end of the forecast period in 2033, exhibiting a solid compound annual growth rate (CAGR) of 4.2% from 2023 to 2033. This continued leadership is attributed to the country’s thriving chemical sector, which is driving a substantial demand for fiber drum barrels.
Notably, prominent chemical producers like Dow, DuPont, and others have established a strong presence in the United States, further fueling the need for efficient and reliable methods of chemical transportation. The widespread adoption of round fiber drums in the United States and Canada is due to their eco-friendly characteristics and their ability to provide uncontaminated protection for transported goods, including the country’s food products, which are often packed in square or round fiber drums.
Get a Sample PDF of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-6853
The Global fiber drums market is likely to be worth US$ 1.1 billion in 2023, with a CAGR of 5.7% from 2023 to 2033. The fiber drums industry is expected to reach US$ 1.80 billion by 2033.
Key Market Insights:
- Sustainability Driving Demand:
The rising environmental consciousness among the general public is significantly influencing consumer preferences toward sustainable packaging solutions. Over the past decade, there has been a marked shift in consumer attitudes toward sustainability, a trend that is expected to persist. This has led to an increased demand for eco-friendly packaging options, including fiber drums. - Lightweight and Durable:
The lightweight nature of fiber drums, combined with their safety, solidity, and security, ensures the protection of the commodities stored within them. Despite being lighter, fiber drums offer better corrosion resistance and cost-effectiveness compared to plastic or steel drums. This makes them ideal for the transportation of food products, ingredients, and flavorings, particularly in the expanding food and agro-allied industries. - Cost-Effective Shipping:
One of the key factors propelling the growth of the fiber drums market is the cost-effectiveness of shipping. The lightweight characteristics of fiber drums reduce shipping costs without compromising the quality of packaging. This makes them a preferred choice for manufacturers looking to minimize high shipping costs while ensuring the integrity of their products. - E-Commerce Boom:
The rise of e-commerce is also boosting the demand for fiber drum packaging. With the convenience of shopping, wide availability of items, global reach, and speed of access, fiber drum packaging is becoming increasingly popular. The low shipping costs and reduced claims associated with fiber drum packaging make it an attractive option for producers.
Market Trends and Opportunities:
- Desire for Weight Reduction in Bulk Packaging:
Manufacturers are focusing on reducing the weight and dimensions of packaging to minimize shipping costs. Fiber drums, made from layers of kraft paper, provide lightweight yet durable solutions, ensuring products reach buyers intact and at a lower shipping cost. - Environment-Friendly Packaging:
The shift toward sustainable packaging solutions is gaining momentum across various industries. Fiber drums, made from recyclable paperboard, are emerging as a viable alternative to plastic drums, aligning with environmental regulations and consumer preferences for eco-friendly packaging materials. - Customization and Versatility:
Fiber drums can be customized to hold a variety of materials, including liquids, thanks to various inner linings such as polyethylene for semi-liquids and silicone for adhesives. This versatility makes fiber drums suitable for a wide range of applications, further driving their demand.
Regional Assessment:
Asia-Pacific region has the leading fiber drums market share throughout the projection period due to the presence of an increasing number of manufacturing units and emerging economies in countries such as China, India, Australia, and Indonesia.
These are the countries that export packaging materials as well as fiber drum packaging all over the world. Due to low labor costs and the availability of native raw materials in this region, manufacturers prefer this manufacturing unit for the packaging sector.
Purchase Now to Access Segment-specific Information and uncover Key Trends, Drivers, and Challenges: https://www.futuremarketinsights.com/checkout/6853
Key Takeaways:
- From 2023 to 2033, the metal closure category may expand at a CAGR of 5.7% by closure type in the fiber drums market.
- The food and agro-allied industry category might develop at a CAGR of 5.9% from 2023 to 2033, according to the end-user segment.
- Between 2023 and 2033, China market might expand at a CAGR of 6.8%, reaching US$ 346.8 Million.
- By 2033, Japan fiber drums market may have increased at a CAGR of 5.6%, reaching US$ 96.6 million.
- By 2033, the United States market is anticipated to record a CAGR of 4.2% and reach US$ 239.2 Million.
- By 2033, Canada market can have grown at a CAGR of 4.9%, reaching US$ 92.6 million.
- Germany fiber drums market could have expanded at a CAGR of 4.8% by 2033 and may have amounted to US$ 94.5 Million.
Competitive Landscape:
The presence of local players, followed by international firms, has helped to consolidate the fiber drums market, which has contributed significantly to market growth.
A few significant fiber drum manufacturers include Greif Inc., Abzac Corporate, Great Western Container, Fiberstar Drums, Schutz Container Systems, CL Smith, Industrial Container Services, TPL Plastech, Sonoco Product, Three Rivers Packaging, Enviro-Pak, Mauser Group, Orlando Drum & Container, and others.
The key competitors are utilizing a variety of fresh tactics to control the market, such as expansions, acquisitions, and partnerships, which are boosting the demand for fiber drums on a global scale.
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, and pharmaceutical companies etc. to use fiber drums to reduce their carbon footprint.
Demand is also anticipated to be driven by the widened use of large, layered fiber drums which ensures increased performance and are also economical 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.
“The challenges associated with recyclability of fiber drums is building infrastructure to manage increased recycling and segregation of substrates such as closure lids or polyethylene lining to prevent leakages. Ensuring these steps before recycling the fiber drums would ensure that they never end up in a landfill or dump. This involves strengthening and developing more advanced recycling technologies. A one-time investment in recycling is expected to result in a long-term benefit for vendors in the fiber drums market,” says an FMI analyst.
Decoding Research: Navigating Report Methodology: https://www.futuremarketinsights.com/askus/rep-gb-6853
Key Segments
By Capacity:
- Below 25 Gallons
- 25-50 Gallons
- 50-75 Gallons
- Above 75 Gallons
By Closure Type:
- Metal Closure
- Plastic Closure
- Fiber/ Cardboard Closure
By End Use:
- Chemical Industry
- Food & Agro Allied Industry
- Pharmaceutical Industry
- Building & Construction Industry
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
