Fiber Drum Market with Covid-19 Pandemic Analysis, Growth Rate, New Trend Analysis Forecast To 2027
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The layers are connected to adhesives that offer the strength to stack and handle. Compared to steel or plastic drums, fiber drums have a superior corrosion resistance since their inner coating is made of paper covered with paper or poly coating. In addition, metal or plastic rings are substituted for fiberboard lids to minimize contamination of the goods. As fiber drums are made up of fiberboard, they are lightweight.
The growing retail sector and rise in desire for lightweight bulk containers are the main drivers impacting the fiber drum industry. Fiber drums have a crucial benefit, they are 100% recyclable. Most fiber drums, for example, can be filled with various coatings or insoluble compounds such as silicone, polythene, or polyester used to transport and storing liquid goods, including adhesives and dyes. Two crucial tests - a drop test and a stack or compression test are conducted to verify the quality of the drum.
The market is adversely affected, as the industrial packaging is not agile. The makers of fiber drums are therefore back in the supply chain. The fiber drums cannot be handled by forklift as it breaks down the drum with its force. These issues can prevent the fiber drum business from growing. This fiber drum is not suitable for transporting some types of liquids as the inner portion of the drums becomes soggy and is prone to leakage.
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The key market players profiled in the report include Sonoco Products Company, Mauser Group N.V., C.L.Smith Company, Orlando Drum & Containers Corporation, Fibrestar Drums Limited, Berlin Packaging, Fibre Drum Company, Great Western Containers, Inc., Grief Inc., and SCHuTZ GmbH & Co, KGaA.
COVID-19 Impact Analysis
○ Countries had to enforce lockdown that halted the operations in chemical, food & beverages, and other sectors due to the outbreak of the COVID-19 pandemic. The demand for fiber drums decreased as there was no requirement. The fiber drums manufacturing companies witnessed a dip in production as there was unavailability of laborers to continue the production process.
○ The disruption in the distribution channel was the prime cause as adequate raw materials could not reach the industries for production; the delivery of finished products to the procuring companies was not possible. The import of materials from other countries was also banned that created obstacles to production.
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Key Benefits of the Report
○ This study presents the analytical depiction of the fiber drum industry along with the current trends and future estimations to determine the imminent investment pockets.
○ The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the fiber drum market share.
○ The current market is quantitatively analyzed from 2020 to 2028 to highlight the fiber drum market growth scenario.
○ Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
○ The report provides a detailed fiber drum market analysis on the basis of competitive intensity and how the competition will take shape in coming years
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