DUBLIN, Jan. 24, 2022 /PRNewswire/ — The “Fiber Drums – International Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s providing.
International Fiber Drums Market to Attain US$849.9 Million by the 12 months 2026
The worldwide marketplace for Fiber Drums estimated at US$623.8 Million within the yr 2020, is projected to achieve a revised measurement of US$849.9 Million by 2026, rising at a CAGR of 5.3% over the evaluation interval.
Development within the international market is attributed to confluence of assorted favorable elements like rising uptake throughout end-use industries, growth of the retail sector, new avenues in rising economies and product improvements. The market progress is favored by growing output of hazardous chemical substances which are required to be transported to completely different international locations.
Producers of fiber drums are leveraging superior strategies to make sure exterior or inner liners that enhance efficiency and resistance of those containers to make them enticing for various purposes, together with storage and transport of chemical substances, dyes and adhesives. These drums are anticipated to achieve from appreciable progress of the e-commerce phase and growing intercontinental commerce.
Under 25 Gallons, one of many segments analyzed within the report, is projected to develop at a 4.6% CAGR to achieve US$108 Million by the top of the evaluation interval. After an intensive evaluation of the enterprise implications of the pandemic and its induced financial disaster, progress within the 25-50 Gallons phase is readjusted to a revised 5% CAGR for the subsequent 7-year interval. This phase at the moment accounts for a 24.1% share of the worldwide Fiber Drums market.
50-75 Gallons Phase to Attain $452.2 Million by 2026
Within the international 50-75 Gallons phase, USA, Canada, Japan, China and Europe will drive the 5.5% CAGR estimated for this phase. These regional markets accounting for a mixed market measurement of US$247.6 Million within the yr 2020 will attain a projected measurement of US$359.4 Million by the shut of the evaluation interval.
China will stay among the many quickest rising on this cluster of regional markets. Led by international locations resembling Australia, India, and South Korea, the market in Asia-Pacific is forecast to achieve US$48.3 Million by the yr 2026, whereas Latin America will broaden at a 6.7% CAGR by the evaluation interval.
The U.S. Market is Estimated at $176.1 Million in 2021, Whereas China is Forecast to Attain $137.4 Million by 2026
The Fiber Drums market within the U.S. is estimated at US$176.1 Million within the yr 2021. The nation at the moment accounts for a 27.1% share within the international market. China, the world’s second largest economic system, is forecast to achieve an estimated market measurement of US$137.4 Million within the yr 2026 trailing a CAGR of seven.4% by the evaluation interval.
Among the many different noteworthy geographic markets are Japan and Canada, every forecast to develop at 4% and 4.4% respectively over the evaluation interval. Inside Europe, Germany is forecast to develop at roughly 4.9% CAGR whereas Remainder of European market (as outlined within the research) will attain US$148.1 Million by the top of the evaluation interval.
Asia-Pacific area retains dominant place out there owing to the presence of quite a few manufacturing amenities and powerful contribution from rising nations like India, China, Indonesia and Australia. The regional market is bolstered by growing inflow of worldwide packaging firms resulting from quick access to uncooked supplies and low-cost labor.
The emergence of Asia-Pacific as a number one manufacturing hub for packaging merchandise is anticipated to considerably profit the fiber drums market. The market is anticipated to submit spectacular features within the US owing to sturdy fiber drum demand from numerous purposes in agro-based, chemical and meals industries. The chemical substances trade is prone to play a outstanding function in driving the market progress resulting from growing demand and transport of chemical substances to various trade verticals.
Key Subjects Coated:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Affect of COVID-19 Pandemic and Looming International Recession: 2020 Marked as a 12 months of Disruption & Transformation
- Because the Race between the Virus & Vaccines Intensifies, The place is the World Economic system Headed in 2021?
- Fiber Drums Market Faces the Music with Knock-on Impact of COVID-19 Pandemic
- Pandemic Affect on the Packaging Business, One of many Key Finish-Makes use of of Fiber Drums
- An Introduction to Drums and Fiber Drums
- Advantages of Fiber Drums
- International Fiber Drums Market Marches Forward to Rhythmic Drumbeat: Market Prospects & Outlook
- Development Drivers and Restraints
- Segmental Evaluation
- Regional Evaluation
- Aggressive Situation
2. FOCUS ON SELECT PLAYERS (Whole 46 Featured)
- CL Smith
- Enviro-Pak, Inc.
- FDL Packaging Group
- Fiber Drum Firm
- Fiberstar Drums Ltd.
- Nice Western Containers Inc.
- Greif, Inc.
- Mauser Packaging Options
- Milford Barrel Co. Inc.
- Orlando Drum & Container Company
- Patrick J. Kelly Drums, Inc.
- The Cary Firm
3. MARKET TRENDS & DRIVERS
- Fiber Drums Provide Innumerable Advantages for Companies
- Elements Influencing Packaging Business & Implications for Fiber Drums
- Fiber Drums to Change Protecting Packaging Recreation with Versatility & Protecting Storage Benefits
- Dumping System for Fiberboard Drums
- Environmental Good thing about Utilizing Fiber Merchandise
- Rise of E-Commerce & Packaging Demand: The Energy of Two for Fiber Drums
- Favorable Demographics Strengthen Market Prospects
- City Sprawl Encourages a Constructive Tide
- Sustained Demand for Meals and Drinks Resulting in Elevated Farm Productiveness Instigates Sturdy Demand
- International Meals Situation: Key Info
- Manufacturing Sector to Stay an Essential Client: Fiber Drums provide Safety to Merchandise
- Established Use Case in Chemical substances and Petrochemicals Sector Augurs Effectively
- Pharmaceutical Business: A Promising Utility for Fiber Drum Packaging
- Rising Healthcare Expenditure to Foster Market Development
- Robust Rise in Pharmaceutical Gross sales to Drive Demand for Fiber Drums in Packaging
- Fast Development of Generic Medication to Drive Demand
- Rising Gross sales of OTC Medication Presents Alternative for Pharma Packaging Makers
- Contract Packaging Development Augurs Effectively for Fiber Drums Utilized in Pharma Packaging
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
- Whole Firms Profiled: 46
For extra details about this report go to https://www.researchandmarkets.com/r/x9ueyj
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