Global Plastic Buckets Market Projections Deliver Positive Revenue Growth during
Posted by Arslan on February 13th, 2019
Plastic buckets are among the most important household items worldwide. They are being used since decades for a variety of purposes, right from bathing to the high-end packaging of items. The evolution of raw material from metal to Plastic buckets has completely changed the market landscape in the past twenty years. Plastic buckets are lighter in weight and available at low prices. They are predominantly made up of a variety of materials, such as PP, PET, and HDPE, for different end-use applications in food, household, industrial, chemical, and other industries. Plastic Buckets Market also find applications in the paint and coatings industry for the bulk or retail transport & storage of goods.
Moreover, they are widely used to pack paint and coating products in emerging as well as developed countries due to the high strength and durability of plastic buckets for the storage of bulky goods for a longer time. Furthermore, no viable retail-format alternative options have been found in the market for the storage and transportation of goods such as paint & coatings.
Plastic Buckets Market: Market Dynamics
With the introduction of customized products in the recent years, the demand for plastic buckets has increased significantly. Plastic bucket manufacturers are seeking innovations in their existing product portfolio to strengthen their market presence and gain a competitive edge in the market. The demand for plastic buckets is expected to continue to grow due to the rapidly increasing population of households across the world. Moreover, it is the only product that is used for the packaging of paints and coatings for retail markets. Growth in the demand for paints and coatings is expected to boost the demand for plastic buckets. Plastic buckets offer substantial benefits during the shipping, handling, and transportation of goods.
The plastic buckets market is highly fragmented in nature and hundreds of manufacturers produce plastic buckets in each region. However, the demand for plastic buckets is expected to increase with an increase in population, urbanization, and spending on leisure activities. Manufacturers are focusing on offering customized solutions to specific end-user companies according to their requirements.
Plastic Buckets Market: Regional Overview
On the basis of region, the plastic buckets market is segmented into North America, Latin America, Eastern Europe, Western Europe, APEJ (Asia-Pacific Excluding Japan), Middle East & Africa, and Japan. The demand for plastic buckets is growing rapidly due to significant growth in the number of households and the consumption of food, chemicals, and paint & coating products. Increasing urbanization and changing consumer demand for customized plastic buckets in developing countries is expected to create high demand for these products in the global market. However, North America dominates the plastic buckets market in terms of consumption followed by Europe. In the Asia-Pacific region, hundreds of manufacturers produce plastic buckets to cater to the domestic market. The market is highly fragmented in countries such as India and China. Chinese manufacturers supply plastic buckets at much a lower cost as compared to their counterparts in local countries. In Latin America, Brazil and Mexico account for the maximum consumption of plastic buckets. Saudi Arabia and UAE are expected to offer substantial growth opportunities in the MEA plastic buckets market during the forecast period.
Plastic Buckets Market: Market Players
Some of the key players in the plastic buckets market are BWAY Corporation, Mauser Group, RPC Group, Hitech Group, H&O Plastics, U.S. Plastics Corporation, and M&M Industries.
The plastic buckets market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Plastic buckets market report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Plastic buckets market report also maps the qualitative impact of various market factors on market segments and geographies.
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