The rising demand for packaging solutions across a number of industries, including food and beverage, chemicals, and personal care, is likely to propel the expansion of the global industrial pails market in the upcoming years.
The market for industrial pails is anticipated to reach US$ 7.8 Bn in 2022 and grow at a CAGR of 4.6% from 2022 to 2032.
The growing demand for industrial pails from numerous end-use sectors, including food and beverage, chemicals, and personal care, is what propels the market.
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The food and beverages industry is expected to be the largest end-use industry for industrial pails. The increasing demand for packaged food products and the growing number of food processing units are expected to drive the market growth. The chemical industry is also expected to be a major end-user of industrial pails. The increasing demand for chemical products and the growing number of chemical processing units are expected to drive the market growth.
The personal care industry is also expected to be a major end-user of industrial pails. The increasing demand for personal care products and the growing number of personal care product manufacturing units are expected to drive the market growth.
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The Asia Pacific region is expected to dominate the global industrial pails market during the forecast period. The increasing demand for industrial pails from various end-use industries such as food and beverages, chemicals, and personal care in countries such as China, India, and Japan is expected to drive the market growth in this region.
The North American region is expected to be the second-largest market for industrial pails. The increasing demand for industrial pails from various end-use industries such as food and beverages, chemicals, and personal care in countries such as the United States and Canada is expected to drive the market growth in this region.
The Rest of the World region is expected to be the fourth-largest market for industrial pails. The increasing demand for industrial pails from various end-use industries such as food and beverages, chemicals, and personal care in countries such as Brazil, Mexico, and South Africa is expected to drive the market growth in this region.
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Competitive Landscape
Key players engaged in the manufacturing of industrial pails are trying to focus on expanding their presence, product portfolios, capacities, and resources to meet the growing demand for industrial packaging in various regions. Some of the other key players are adopting mergers and acquisitions, as well as expansion strategies to compete with their rivals.
Some of the latest industry developments are as follows –
- In November 2021, Alpla Werke Alwin Lehner GmbH & Co KG expanded its presence in Asia to cater to the growing demand for packaging products, including industrial pails.
- In April 2021, Mauser Packaging Solutions announced the acquisition of Global Tank Srl, which will help the company to expand its presence in the Europe market for industrial packaging products.
Industrial Pails Market Outlook by Category
By Material:
- Plastic
- Metal
By Capacity:
- Less than 1 Gal
- 1-3 Gal
- 4-6 Gal
- 7-10 Gal
- Above 10 Gal
By End Use:
- Chemicals
- Agriculture
- Food & Beverage
- Building & Construction
- Oil & Lubricants
- Automotive
- Others (Mining, etc.)
Key Players:
- Mauser Packaging Solutions
- Berry Global Group
- CL Smith
- Schoeller Allibert Services B.V.
- Alpla Werke Alwin Lehner GmbH & Co KG
- Vestil Manufacturing Corporation
- IPL, Inc.
- Wilkinson Containers Ltd.
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