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The steel drums are extensively utilized for the packaging of semi-solids, liquids, as well as powders. They are made from carbon or stainless steel material. Further, they have the ability to withstand an extreme range of pressure, temperatures, and humidity, while maintaining their structural integrity irrespective of heat and flame, without any spillage or leakage. Also, it the less likely to implode when proper work conditions are maintained and remain unaffected by the thermal shocks. They are available in various sizes based on the application required. The steel drums find their use in chemicals, agricultural, petroleum & lubricants, paints, inks, and food & beverage applications.
The rising demand for steel drums for packaging purposes will contribute to flourishing market growth. The properties such as recyclability for reuse, durability, high sustainability, excellent strength, and eco-friendliness make steel drums a preferred choice in the packaging industry. As a packaging material, the steel drums are utilized as a shipping container for chemicals and other liquids in the food, paints, construction, and healthcare industry. Also, it is ideal for bulk packaging. The rapid growth in the food & beverage industry coupled with increasing innovation in the packaging will aid to boost product consumption. Hence, this is anticipated to hamper the steel drums market growth.
However, the availability of substitute products including fiber drum is restricting the product adoption in various applications. Hence this is anticipated to hamper the market growth.
Key Market Driver -
Increasing steel drums demand for packaging purpose to drive the market growth.
Key Market Restraint -
Availability of substitute to hamper the market growth
Based on type, the steel drums market is segmented into carbon steel and stainless steel. Based on end-use, the market is segmented into chemicals, agricultural, petroleum & lubricants, paints, inks, & dyes, food & beverages, building & construction, healthcare & personal care, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the steel drums market include Mauser Group B.V., Greif, Inc., North Coast Container Corp., Rahway Steel Drum Co Inc., General Steel Drum LLC, Skolnik Industries Inc., Metal Drum Co Ltd/The, Clouds Drums Dubai LLC, James G Carrick & Co Ltd, Chicago Steel Container Corp., Izvar Ambalaj Sanayi VE Ticaret AS, Industrial Container Services, Inc., and Schutz Container Systems, Inc.
Asia Pacific is estimated to witness the highest growth in the steel drums market. The growth is attributed to the rising product demand in the construction industry. Further, increasing stainless drums demand in the agriculture industry will fuel the market growth in this region. The increasing product adoption in the healthcare and personal care industry will fuel the market growth in Europe. The rising demand for the product in chemicals, commodity, and specialty applications will propel the market growth in North America, In which the US and Canada are the leading countries. The Middle East & Africa is anticipated to witness significant growth, owing to the increasing product demand in petroleum & lubricants.
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