Chemical Drums Market: Technological Advancements and Developments
Chemical Drums Market is in Trends by Sustainable Production Processes
The chemical drums market has seen substantial growth in the past decade due to the increased production and trade of chemicals globally. Chemical drums are primarily used for storage, transportation, and handling of industrial and commercial chemicals. These drums are manufactured using various materials such as steel, plastic and fiber and come in different sizes and specifications as per application requirements. Chemical drums provide effective packaging solutions for chemicals and ensure safety during storage and shipping. The growing chemicals industry has boosted the demand for drums that can withstand corrosion and harsh environmental conditions. The Global Chemical Drums Market is estimated to be valued at US$ 21.44 Bn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the chemical drums are Greif, Inc., Mauser Group, SCHÜTZ GmbH & Co. KGaA, Time Technoplast Ltd., Hoover Ferguson Group, Balmer Lawrie & Co. Ltd., Sicagen India Ltd., Industrial Container Services, LLC, Fibrestar Drums Limited, Snyder Industries, Inc., Sonoco Products Company, Great Western Containers Inc., Myers Container LLC, Myers Industries, Inc., and Eagle Manufacturing Company.
The growing demand from end-use industries such as chemicals, paints and coatings, agriculture, petrochemicals is a major factor boosting the chemical drums market. Increasing industrial and infrastructure development activities globally are also augmenting the market growth. Further, strict safety regulations regarding transportation and handling of chemicals have increased the popularity of drums over other packaging formats.
Geographically, the Asia Pacific chemical drums market is expected to witness highest growth owing to rapid industrialization and expanding chemicals industry in the region. Presence of emerging economies like China and India providing si