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Plastic pails is a cylindrical shipping container that is designed with different type of capacity of such as 3 to 50 litres (1 to 13 US gal). Plastic pasils have a straight or slanted sides and is usually has a metal or plastic handle. The non-technical name used for plastic pails is bucket. Plastic pails have applications in various industries such as paints & coatings, inks & dyes, petroleum & lubricants, cleanig solvents, food & beverages, and others. Manufacturers across the globe are shifting to cheaper pakcaging solutions for overcoming bulk packaging solutions. Plastic pails are cheaper, lighter & cost effective making it ideal product to used for packaging solutions. This increasing shift towards cheaper packaging is supporting the market growth of plastic pails.
The market for plastic pails is driven by the increasing demand from the food & beverages, and oil & chemical industries. More demand for efficient plastic solution at cheaper prices, having lightweight and great strength & durability, is expected to support the market growth of plastic pails. Morepover, growing market demand for dyes & pigments, food & beverages, and chemical for various applications is expected to drive the market for plastic ails.
Key Market Driver -
Increasing demand from food & beverages, oil and chemical industries.
Key Market Restraint -
Fluctuations in raw material prices.
The market plastic pails will be affected due to fluctuations over the raw materials prices. Plastics used are usually made from polymers such as PVC and ABS, prices of these polymers usually depend upon the crude oil prices change. Changes in crude oils is expected to directly affect the prices of plastic pails. Governmental regulations over preserving the natural resources is likely to affect the market growth, thus restraining the market for plastic pails.
Based on type, the market is segmented into open top plastic pails, and closed top plastic pails. Based on capacity, the market is segmented into upto 3 litres, 3 litres to 10 litres, 10 litres to 20 litres, 20 litres to 50 litres, and above 50 litres. Based on application, the market is segmented into food & beverages, paints & coatings, inks, dyes & pigments, industrial chemicals, petroleum, cleaning solvents, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global plastic pails market is fragmented, with a number of global & regional players operating. Some of the key players in the Plastic Pails market includes Greif, Inc., Mitchell Container Services, Inc., FDL Packaging Group, Time Technoplast Ltd., Berry Plastics Corporation, Mauser Group B.V., The Cary Company, Kay Industries (Pty) Ltd., BWAY Corporation, BASCO, Inc., and Others.
The plastic pails market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia-Pacific dominated the market due to growing application in construction, food & beverages along with incresing demand for cheap packaging solutions from the consumer is expected to propel the demand for plastic pails market in the region. Growing economies such as China, India, and South Korea is expected to increasing the demand for food, which in turn will support the market growth of plastic pails. The North America, with growing industrial application for storage & transportaion of chemicals is expected to support the market growth in the region. In Europe, the market is expected to grow for plastic pails due to rising demand from the food processing industries in the region, also plastic pails are used for carrying lubricants and cleanign solvents for automobiles. Additionally, the adoption of plastic pails for application mainly in the paints & coatings industry is supporting the growth of the market in the region. The consumption of plastic pails is also increasing in Latin America and Middle East & Africa due to growing urbanisation and growing disposable income among the consumers leading to a rise in demand, along with easy availability of raw materials in the region is expected to drive the market growth.
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