02-Oct-2020 | Zion Market Research
According to Zion Market Research, the global market for plastic drums was capitalized at US$ 2,223 million in 2017 and is forecasted to advance at a CAGR of 7.2%. The plastic drums are utilized for the storage and transportation of industrial products that need appropriate management of the filling product. The plastic drums can be produced from polypropylene or high-density polyethylene. Nevertheless, polyethylene is chiefly utilized for producing plastic drums. The UN-certified and food-grade plastic drums are utilized for food & beverages and dangerous chemical industries. The plastic drums are loaded on pallets and can be proficiently handled throughout shipment. The plastic drums possess a major share in the transitional bulk containers market.
The global plastic drums market comprised of some leading players such as CurTec Holdings B.V., Greif Packaging LLC, Schutz Container Systems, Mauser Packaging Solutions, Interplastica, U.S. Coexcell Inc., AST Plastic Containers, Industrial Container Services, Industrial Packaging Limited, KODAMA PLASTICS Co., Ltd., CL Smith Company, RPC Group Plc, TPL Plastech Ltd., GREAT WESTERN CONTAINERS INC., Remcon Plastics Incorporation, Vallero International S.r.l., Hazmatpac, Inc., and Orlando Drum & Container Corporation.
Cost-Effectiveness Of Plastic To Drive The Global Plastic Drums Market
As per analyst, the global plastic drums market is witnessed to experience higher growth in the future, as the cost-effectiveness of the plastic is offering convenience to the customers. Previously, the larger metal drums were utilized to ship containers for juice, oil, and other liquid products, but at present, the plastic drums are progressively replacing other industrial packaging alternatives. The companies offer auto lock systems in the plastic drums to augment their capabilities. The global plastic drums market is projected to have major growth in the forecasted period, as the requirement for petrochemicals is surging across the Asia Pacific region. From traditional designs to advanced innovative designs, the plastic drums market is witnessing an evolution where the buyers from developed and developing markets are choosing plastic drums.
The global plastic drums market is divided based on the product type, material type, capacity type, and end-use. On the account of capacity type, the market is categorized into 30–60 gallons, less than 30 gallons, and 60 gallons & above. On the account of the material type, the market is segmented in polyethylene (PE), LLDPE, LDPE, HDPE, and polypropylene (PP). On the account of product type, the market is segmented into closed-head plastic drums and open-head plastic drums. On the account of end-use, the market is bifurcated into pharmaceuticals, building & construction, food & beverage, paints & lubricants, and chemical & fertilizers.
Asia Pacific Region To Record Major Growth In The Global Plastic Drums Market
Based on geographical analysis, the global plastic drums market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The surged demand for chemicals and pharmaceutical section across the Asia Pacific region is predicted to rule the global plastic drums market. The plastic drums market across North America and Europe are likely to witness growth due to the adoption of plastic drums in the inflexible packaging industry. The market across Middle East & Africa region is estimated to represent profitable opportunities for the worldwide plastic drums market in the forecasted period.
Browse the full “Plastic Drums Market by capacity Type (35 Gallon, 35-60 Gallon, and 60 Gallon & above), Product Type (Open Head Drums and Tight Head Drums), End Use (Food & Beverage, Chemicals & Fertilizers, Building & Construction, and Pharmaceuticals, and Paints & Lubricants): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/plastic-drums-market
The global plastic drums market is segmented as follows:
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