Fiber Drums Market Set to Reach USD 1.8 Billion by 2033, Growing at 5.7% CAGR | Future Market Insights, Inc.

The global fiber drums market is on a steady growth trajectory, projected to be worth USD 1.1 billion in 2023. According to recent industry forecasts, the market is expected to register a compound annual growth rate (CAGR) of 5.7% during the forecast period, reaching USD 1.8 billion by 2033.

Fiber drums, known for their safe shipping capabilities and durability, are increasingly being adopted across various sectors, including food and agro-allied industries, pharmaceuticals, and chemicals. The growing reliance on these drums for secure transportation and storage highlights their importance in maintaining product integrity in these critical sectors.

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Demand for Lightweight Bulk Containers is growing

The two main reasons driving the fiber drums market are the growing retail sector and consumers' inclination for lighter bulk containers. One of fiber drums' main advantages is that they are 100% recyclable.

Fiber drums that are used for the transportation and storage of liquid products, such as adhesives and dyes, can have a range of coatings or insoluble materials, such as polyester, silicon, or polyethylene, coated inside of them. To evaluate a fiber drum's performance and quality, two crucial experiments are performed: the drop test and the stacking or compression test.

End-use Industry Demand is Swelling

Fiber drums are widely used for many different purposes and applications, such as paints, adhesives, sanitary chemicals, food and beverage, and pharmaceutical products. The needs of various end-use industries vary. For instance, the food and beverage industry needs FDA-compliant containers, which round fiber drums may provide.

The insertion of internal and external liners is made possible by new manufacturing processes, which boost performance and resistance for a variety of novel applications. Square fiber drums are another option for products that are lighter and have fewer volume.

Both styles and designs are UN-approved and suitable for packing hazardous solids. Because fiber drum barrels are so cheap, many end users prefer them to other options. It is projected that the chemical industry would hold a significant portion of the market for fiber drums during the forecast period.

Regional Assessment:

Asia-Pacific region has the leading fiber drums market share throughout the projection period due to the presence of an increasing number of manufacturing units and emerging economies in countries such as China, India, Australia, and Indonesia.

These are the countries that export packaging materials as well as fiber drum packaging all over the world. Due to low labor costs and the availability of native raw materials in this region, manufacturers prefer this manufacturing unit for the packaging sector.

Key Takeaways

• From 2023 to 2033, the metal closure category may expand at a CAGR of 5.7% by closure type in the fiber drums market.
• The food and agro-allied industry category might develop at a CAGR of 5.9% from 2023 to 2033, according to the end-user segment.
• Between 2023 and 2033, China market might expand at a CAGR of 6.8%, reaching USD 346.8 Million.
• By 2033, Japan fiber drums market may have increased at a CAGR of 5.6%, reaching USD 96.6 million.
• By 2033, the United States market is anticipated to record a CAGR of 4.2% and reach USD 239.2 Million.
• By 2033, Canada market can have grown at a CAGR of 4.9%, reaching USD 92.6 million.
• Germany fiber drums market could have expanded at a CAGR of 4.8% by 2033 and may have amounted to USD 94.5 Million.

Competitive Landscape:

The presence of local players, followed by international firms, has helped to consolidate the fiber drums market, which has contributed significantly to market growth.
The key competitors are utilizing a variety of fresh tactics to control the market, such as expansions, acquisitions, and partnerships, which are boosting the demand for fiber drums on a global scale.

Key Fiber Drum Manufacturers

• Grief Inc.
• Sonoco Products Company
• Mauser Group N.V.
• C.L Smith Company
• Schutz Container Systems, Inc.
• Orlando Drum & Container Corporation
• Industrial Container Services, Inc.
• Three Rivers Packaging Inc.
• Patrick J. Kelly Drums
• Fiberstar Drums Limited
• Milford Barrel Co Inc.
• Great Western Containers Inc.
• Enviro-Pak, Inc.
• Berlin Packaging
• Fiber Drum Company

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Recent Development

Greif, Inc. Announced A Deal In 2021

To transfer ownership of 69,200 acres of forest in southwest Alabama to Weyerhaeuser Company in exchange for $149 million in cash.

In February 2020, Grief Started a Significant Expansion

Started expansion of its plastic activities on the West Coast of the United States. In their Merced, California, company, they are setting up blow molding equipment for plastic drums.
In June 2019, Balmer Lawrie & Co.Ltd. Inaugurated Industrial Packaging Factory

For the production of steel drums, in Vadodara, Gujarat. With a 34% market share, this company controls India market for 210L MS Drums.

Key Segmentations

By Capacity:

• Below 25 Gallons
• 25-50 Gallons
• 50-75 Gallons
• Above 75 Gallons

By Closure Type:

• Metal Closure
• Plastic Closure
• Fiber/ Cardboard Closure

By End Use:

• Chemical Industry
• Food & Agro Allied Industry
• Pharmaceutical Industry
• Building & Construction Industry
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• The Middle East and Africa

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