Producers in the global plastic drums market are introducing new processes and products to offer secure packaging solutions, reports Transparency Market Research (TMR). Many companies in the global plastic drums market are offering new products to tackle the growing need for specialized packaging solutions. The main players in the global plastic drums market are also availing important certifications to promote reliable and trustworthy nature of plastic drums. The key player in the global plastic drums market are Greif Packaging LLC, CurTec Holdings B.V., Mauser Packaging Solutions, Schutz Container Systems, and U.S. Coexcell Inc.
The global market for plastic drums was evaluated at US$2,223 mn in 2017. The global plastic drums market is expected to expand at 5.0% CAGR during 2017-2025. The ease of handling plastic drums, and low costs due to reconditions options are expected to drive growth for the global plastic drums market.
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The plastic drums market caters to various end users including clients in the chemical and fertilizer business. This application is expected to deliver major growth for the plastic drums market during 2017-2025. Chemical and fertilizers are expected to deliver a 5.9% CAGR growth for the global plastic drums market. Chemicals and fertilizers accounted for 1,048.2 mn in the year 2017.
Similarly, Asia Pacific region is expected to register notable growth and reach US$ 905.8 mn in evaluation by 2022 end. It is predicted to expand at a CAGR of 5.1% during the forecast period.
Specialized Applications for Safe and Secure Transportation Drives Growth
Plastic drum offers a gateway for various end-use industries to handle, transport, and store important fillings. The growing diversity in plastic drums is reflective of this ground reality. Plastic drums which are non-conducive to electrical flow are rising in demand in hazardous areas such construction projects, chemical plants, factories, etc. Similarly, many plastic drums today include a conductive layer on the outside to prevent the build-up of electric charge. Additionally, plastic drums also offer sensitive handling options with a scope for fluorination process for end-use industries. These drums include an anti-permeation layer which helps in the fluorination process. Polyethylene layers also provide more protection for plastic drums in applications related to detergents or soda, which damage the polyethylene material. Plastic drums market players have also started offering lock mechanisms to protect valuable fillings.
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Shipping Requirements and Certifications Drive the Global Plastic Drums Market
Shipping and storage are key end-uses for the global plastic drums market players. Appropriate handling of the filling product is essential for growth for the plastic drums market. high-density polyethylene or polypropylene is used in majority of plastic drums used. While these drums are highly useful for a majority of applications, transportation of food and beverages require different types of packaging. UN-certified and food grade plastic drums are apt for the food & beverage shipping and transportation. These drums are also in high demand in hazardous chemicals industries. Additionally, mass shipping also necessitates the use of large drums which ship products in bulk quantities. As these plastic drums are reusable and can be utilized over a thirty times, they also open cost-savings options for end-use industries. Their cost-effectiveness and essential application in the shipping industry is expected to drive growth of the global plastic drums market.