A New TMR Study Analyses Growth of Steel Drums Market in Light of the Global Corona Virus Outbreak

Steel Drums Market: An Overview

Steel is considered as one of the most reliable and durable materials for the production of industrial grade packaging containers. Steel drums are used for packaging of liquids, semi-solids as well as powders. Steel drums perform remarkably well in an extensive range of temperatures, pressure, and humidity, while maintaining their structural integrity irrespective of heat and flame, without any leakage or spillage. Steel drums remain unaffected by the thermal shocks and are less likely to implode when proper work conditions are maintained, these conditions for handling steel drums depend on the drum contents. Variety of steel drums are available in the market, the closed or tight head type steel drums are typically used for storing low viscosity fluids while open head type steel drums are convenient for storing solids and hazardous liquids. Steel drums continue to be a feasible option for storing and transporting chemicals, lubricants, flammable & combustible materials and more due to their fire resistant properties. Steel drums prove to be a reliable solution to the bulk packaging needs. These properties are anticipated to further propel the demand for steel drums in the global steel drums market during the forecast period.

Steel Drums Market: Dynamics

Steel drums manufacturers across the globe are citing an increase in demand for cost-effective yet efficient packaging solutions to overcome the bulk packaging challenges. Therefore, many industrial rigid packaging manufacturers are focusing on producing innovative packaging solutions to satisfy up-and-coming demands from the end-use industries. Industries prefer steel drums over its counterparts due to their high mechanical strength, and when adequately emptied steel drums can be reused multiple times. The reconditioning and recycling helps in cutting back the expenses incurred during storage and shipping. Escalating demand for paints and dyes is creating more opportunities for the steel drums in the global packaging market. Another factor for the thriving of global steel drums market is an increased demand for consumer goods. As the consumer awareness is escalating, inclination towards sustainable packaging solutions is growing and consumers are preferring steel drums which are reusable which helps in cut back on plastic usage. In recent years, plastic drums and containers entered the market and the demand is flourished due to their lightweight and insulation properties. However, steel drums remain the ideal storage option as they promise levels of resilience and sanitation that plastic cannot, and are much more eco-friendly. Fiber drums pose competition to the steel drums market. They are much lighter, and therefore easier to handle. The fiber drum is more resistant against corrosion than steel drums. This might slow down the growth of global steel drums market.

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Steel Drums Market: Segmentation

Globally, the steel drums market has been segmented as –

On the basis of material type, the steel drums market has been segmented as-

Stainless steel
Cold rolled steel
Carbon steel
On the basis of head type, the steel drums market has been segmented as-

Tight head
Open head
On the basis capacity, the steel drums market has been segmented as-

Up to 10 Gallons
10- 30 Gallons
30- 50 Gallons
50-80 Gallons
80 Gallons and above
On the basis of end use industry, the steel drums market has been segmented as-

Food & Beverages
Healthcare and Pharmaceuticals
Oils & Lubricants
Paints & Dyes
Chemicals and solvents
Building and construction
Agriculture
Other industrial applications
Steel Drums Market: Regional Outlook

Geographically, the steel drums market has been divided into seven key regions as:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan
Middle East & Africa
Japan
Steel Drums Market: Key players

Mauser Group B.V.
Greif, Inc.
North Coast Container Corp.
Rahway Steel Drum Co Inc.
General Steel Drum LLC
Skolnik Industries Inc.
Metal Drum Co Ltd/The
Clouds Drums Dubai LLC
James G Carrick & Co Ltd
Chicago Steel Container Corp.
Izvar Ambalaj Sanayi VE Ticaret AS
Industrial Container Services, Inc.
Schutz Container Systems, Inc.

Many local and unorganized players are expected to contribute to the global steel drums market during the forecast period.

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