Fiber drums are generally referred to as cardboard drums. The main features of these products include its lightweight and durability. The product can be opened with ease and has an effective sealing.
According to ZMR report, the fiber drums market will witness robust growth and reach US$665 million in revenues by the end of 2025. The market will likely grow at a notable CAGR of 6.7% during the 2019-2025 period. The market reached a modest valuation of $190 million in the global fiber drums market. Fiber drums are also referred to as cardboard drums, and are often used for their durable and easily sealable properties. The growing demand for securing food supplies and other essentials is driving tremendous growth for fiber drums in the post-covid-19 period.
Fiber drums are known for their durability, and corrosive resistance properties for food products, warehouse supplies, and other essentials. The impending coronavirus crisis has led a new need to secure essentials for major food chains, and this will likely be a key factor in driving growth of the global fire drums market. Moreover, industries like construction will likely experience a slowdown post the coronavirus crisis. During this slowdown, it will be important for local, and national players to protect their valuables, and store them for long periods to await the revival of the sector. This will likely propel new demand for innovative products like plastic drums, which are ideal for storage of steel supplies among others. These are also protected with easily sealable properties, and are lightweight in nature, which will present cost-effective opportunities for growth for players in the global fibre drums market.
The global fibre drums market report will be segmented on the basis of closure type into plastic, fiber, metal. Among these, the plastic fiber drums are witnessing rising demand in recent times, thanks to their additional benefits. However, the fiber drums have been the source of growth conventionally, and will likely continue demand, thanks to an expected increase in total demand in near future. The fiber drums market report will also be divided into end-use industry into fiber drums, food and agriculture, pharmaceutical, and building and construction, among others. Among these, the food and agriculture, and construction, and building segment will likely witness highest growth during the forecast period. The market report will also cover drums with different capacities including drums below 25 gallons, above 75 gallons, and segments in between.
The global fibre drums market will cover different regions of the globe including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, the region of North America will present major opportunities for growth, thanks to rising food shortages in some region, due to large cases found in some food manufacturing companies. The region has also witnessed major infiltration of new products like plastic drums in sectors like construction, and building. The expected slowdown in the sector will also present new opportunities in the sector in near future.
The global fiber drums market landscape will remain innovative, and robust in near future. The slowing down of demand in various sectors will create opportunities for innovation, and cost-effective new products. The expansion of new products like plastic drums in new regions like Middle East & Africa, and Latin America will present new opportunities post the covid-19 crisis.
By closure type
By holding capacity
By end-use industry
The global fiber drums market reached a total valuation of USD$ 190 million in the global fiber drums market.
The global fiber drums market will grow at a CAGR of 6.7% during the 2019-2025 period.
The global fiber drums market will reach a valuation of US$665 million in 2025.