Plastic Drums Market to Clock a CAGR of 5% through 2027

Posted by Deeksha on January 25th, 2019

Plastic drums have sought large adoption in shipping and storage of various industrial products, as these facilitate handling. Food & beverage industry and hazardous chemicals industry are key areas wherein UN-certified and food-grade plastic drums witness significant demand. Companies operating in the plastic drums market are launching new security systems and product ranges for offering end-users with high-performance products. The market players are also seeking certifications such as FSSC 22000, HACCP, Kosher, and Halal, for their plastic drum variants, for ensuring their safe use in the food industry. The aforementioned insights are taken from the market report titled, “Plastic Drums Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2027,” included recently in the vast repository of Market Research Hub’s (MRH). Moreover, plastic drums are recyclable, which gives them a competitive edge over other types of drums. Some of the plastic drums are biodegradable and are easily decomposed by microorganisms, making them environment friendly. Hence, a lot of the industries are inclining towards the usage of plastic drums, which will further drive the market. In 2017, the plastic drums market was worth ,223 million and it is expected to clock a CAGR of 5% through 2027. Since plastic drums are lightweight, cost-efficient, reliable, and durable, it makes them suitable for the use of chemical and pharmaceutical manufacturers. The market will be further driven with the progress in recycling and adoption of biodegradable packaging. Plastic drums market will witness a significant growth in Asia Pacific region in the coming years, as there is an increase in the demand for petrochemicals.

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Plastic Drums Market: Report Highlights

Various factors that impact the market growth have been included in this report. Various micro and macroeconomic factors affecting growth of the plastic drums market have been included in this report. Furthermore, key segments identified in the plastic drums market have been represented with the help of a taxonomy table. It also offers insights on the adoption and demand trends affecting the plastic drums market across various regions and countries in the world. A well-structured process was put in place to gather important insights that are covered in this market report. Segmentation of the market has been included in the report to give readers detailed information about the market.

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Plastic Drums Market: Assessment on Competitive Landscape

The competition landscape covered in the research study is aimed at offering detailed insights on the strategies of key players present in the plastic drums market. This will help the readers and buyers of the market report to comprehend the report in detail. The report also covers key market participants that are involved in developing and selling plastic drums. Additionally, to help the readers, key information such as – market shares, SWOT analysis, and key growth strategies of the key participants are covered in the report. New market players along with established players in the market will most likely benefit with the strategies of the key players included in the concluding section of the plastic drums market report. There are several key players present in the market, some of them are, AST Plastic Containers, Greif Packaging, LLC, Industrial Container Services, Mauser Packaging Solutions, Hazmatpac, Inc., Schuetz Container Systems, Remcon Plastics Incorporation, U.S. Coexcell, Vallero International S.r.l., KODAMA PLASTICS Co., Ltd, Interplastica Pvt. Ltd., Industrial Packaging Limited, CurTec Holdings B.V., RPC Group Plc, TPL Plastech Ltd., Orlando Drum & Container Corporation, CL Smith Company, and Great Western Containers Inc.