Press release
Industrial Pail Market Insights and Growth Opportunities in 2024: An Extensive Analysis
Global Industrial Pail Market is expected to reach a CAGR of 5% during the forecast period 2024-2031
A pail is a cylindrical container commonly used in industrial packaging for transportation or shipping. These containers can have straight or slanted sides and typically feature a handle or bail and a lid. Industrial pails are available in various sizes to accommodate different quantities of materials. They are made from different materials depending on the type of goods being transported and the specific industry requirements.
Market Dynamics
The growth of the chemical and pharmaceutical sectors is significantly driving the demand for industrial pails. These industries require cost-effective, lightweight, and durable packaging solutions for their bulk liquid packaging needs. According to DSV, global pharmaceutical services have more than doubled in the past decade, with sales value reaching nearly USD 11.48 billion by the end of 2016. The market for pharmaceutical products is rapidly expanding, necessitating effective logistics to manage the complex process of pharmaceutical transportation. Additionally, the trucking industry, which transported approximately 14.89 billion tons of cargo in 2013, is expected to increase to 18.78 billion tons by 2040, with pharmaceuticals and medications being major contributors to this growth.
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Segment Analysis
By Material
Metal
High-Density Polyethylene
Low-Density Polyethylene
Paperboards
Polypropylene
Steel
Aluminum
Tin
Others
By Capacity
1-Gal
3-Gal
4-Gal
6-Gal
9-Gal
10-Gal
12-Gal
Others
By Application
Cereal Box Liners
Container Lids
Food Jars
Medicine
Others
By End-User
Agriculture
Cosmetic
Pharmaceuticals
Food & Beverage
Petrochemical
Building & Construction
Automotive
Mining
Others
Major Key players
Major Companies are Innopack Suzhou Co., Ltd., SCHÜTZ GmbH & Co., Grief Inc., Orora Packaging Australia Pty Ltd, Balmer Lawrie & Co. Ltd., Delta Containers Direct Limited, FDL Packaging Group, Fibrestar Drums Ltd., Sonoco.
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