Global Drums Market Outlook

  • The global market for drums was valued at $ 9.1billion in 2017 and is expected to grow at the rate of approximately 4-5 percent until 2022, reaching $ 11.5 billion. Steel drum, currently contributes to 67 percent of the global demand. However, demand for plastic drums is expected to have the fastest growth, of 6-7 percent, increasing its market share from 19 percent in 2017 to 20 percent in 2022 
  • The major driver for the growth will be the rising demand from chemical, and the food and beverage segments which make use of bulk packaging for storage and transportation of products

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Demand Market Outlook

Chemicals, agro-chemicals, and food and beverage industries are the major end-use segments driving the demand for industrial drums. APAC is witnessing the highest growth rate, around 6-7 percent

Global Market Size –Drums

  • Steel drums will continue to dominate the market with a market share of more than 68 percent; whereas plastic drums are expected to reach 22 percent in 2022 
  • Drum demand in the developing regions of APAC and LATAM are expected to grow at 6-7 percent and 5-6 percent until 2022 due to the growth in end-use industries
  • The global drum demand is expected to grow at 4-5 percent from 2017-2022 and reach approximately $ 11.5 billion by 2022
  • Plastic drums contributed around 18 percent of the global demand for drums, and is experiencing strong growth owing to its cost and logistic advantages over its steel counterpart. However, steel drums will continue to dominate the market 
  • Fiber drums are 10-15 percent lighter and 20-25 percent cheaper than plastic/steel drums, and has better recycling options. However, the market is very matured and almost stagnant in the developed regions

Global Capacity –Demand Analysis of Drums 

  • The Global drums market is expected to grow at a CAGR of around 4.5-5 percent from 2017 to reach a value of $ 11.4 billion in 2022. This is due to the high end-use demand from chemicals, pharmaceutical and, the food and beverage sector 
  • Globally, the drums industry has an average utilization rate of 65-70 percent and the manufacturers are able to meet the demand without any supply constraints