Introduction of the Steel Drum Market Report

Steel drum refers to the container used for storing, containing, and transporting finished products and raw materials for industrial operation owing to its reliability, durability, and capacity of withstanding high and low temperature extremes.

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Market Dynamic

Key Drivers and Emerging Trends

Rising industrialization, rapid increase in cross-continent trade across end users, including pharmaceutical products, petroleum, food, constructional materials, and chemicals, growing demand for strong, long lasting, and eco-friendly packaging and shipping solution across the industries are some of the major factors expected to drive the growth of the steel drums market size during the forecast period. In addition, steel drums material strength and they offer  higher resistance to punctures, leaks, and impacts owing to which they are increasingly used for shipping heavy solid goods, as well as many kinds of hazardous liquid based materials in chemical, oil & lubricants, paints, and pharmaceutical industries. Moreover, steel drums can be easily palletized, wrapped, handled, and reused, thereby used for bulk shipping applications in food and beverages, constructions, and agriculture sectors. This is expected to provide growth opportunities to the market.

Restraint in the Steel Drum Market

However, steel drums are more expensive than other metal material containers and they are heavy because of their steel metal construction, which is expected to hamper the growth market. Additionally, availability of alternative products including plastic drums, fibre drums, and aluminium drums among others may further restraint the market growth.

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Capacity – Segment Analysis

Based on the capacity, 55 gallon steel drum is expected to hold a major share in the market. This is primarily due to its increasing application for transporting and storing bulk goods owing to its easy portability, high capacity, and adaptability for oil, solvents, chemicals, various food products. Growing demand of these drums a wide range of industries including petroleum, chemical processing, food and beverage, pharmaceutical, and agriculture is augmenting the market growth.

Head Type – Segment Analysis

Based on the head type, tighthead steel drum is projected to witness high growth over the forecast period. This is primarily due to high demand of storage and shipping containers that can offer protection against spills among chemicals, petroleum, and lubricants industries.

Material – Segment Analysis

Based on material, stainless steel is projected to witness a high CAGR over the forecast period primarily due to its advantages that includes corrosion resistance, high and low temperature resistance, easy fabrication, good hygienic properties, durability, and low maintenance feature. Additionally, stainless steel drums are highly suited for the pharmaceutical, food processing and personal care industries owing to their reusability and easy sanitization.

End-Use Industry – Segment Analysis

Based on end-use industry, the chemicals and solvents segment is expected to account for a notable share in the market. This can be attributed to the high demand for steel drums for safe, secure, and environmentally friendly shipping, storing, and packaging of bulk chemicals, and other hazardous liquids.  According to BASF SE report, the global chemical production is expected to grow by 4.4% in 2021 from the previous year, which is anticipated to propel the market growth.

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Regional – Segment Analysis:

Based on region, Asia-Pacific is expected to grow significantly over the forecast period primarily due to the growing manufacturing of steel drums owing to easily availability of raw material and labour at affordable price coupled with the rising demand of steel drums for protective packaging solution in chemical, pharmaceutical, food & beverages, oil, paints, and construction industries in the region. As per BASF SE report, China is one of the largest chemical market in the world. According to the IBEF, Ministry of Commerce & Industry, the Indian chemicals industry is expected to reach US$ 304 billion by 2025 registering a CAGR of 9.3% owing to increasing domestic manufacturing and export of chemicals. This is expected to support the growth of the steel drums market in India.

Top Market Players

Several leading Steel Drum companies operating in the market, include, Greif, Inc., BWAY Corporation, Schütz GmbH & Co. KGaA, Time Technoplast Ltd., Stavig Group, Great Western Containers Inc., Peninsula Drums CC, Patrick J. Kelly Drums, Skolnik Industries, Inc., and Balmer Lawrie & Co. Ltd. among others. 

Key Developments: 

• • In 2019, Balmer Lawrie & Co. Ltd., a Miniratna I PSE under the Ministry of Petroleum & Natural Gas, Government of India announced the unveiling of its new Industrial Packaging plant for steel drum manufacturing at Gujarat, India.

Segments covered in the Report:

The global Steel Drum market has been segmented on the basis of capacity, head type, material, end-use industry, and key regions. Based on capacity, the market is segmented into 55 gallon steel drum and other than 55 gallon steel drum. Based on head type, the market is segmented into tight head steel drum and open head steel drum. Based on material, the market is segmented into carbon steel, and stainless steel. Based on end-use industry, the market is segmented into food & beverages, healthcare and pharmaceuticals, oils & lubricants, paints & dyes, chemicals and solvents, building and construction, agriculture, and others. 

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Key questions answered in this research report:

• • At what pace is global Steel Drum Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Steel Drum Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Steel Drum Market?
  • Which material generated maximum revenues in 2020 and identify the most promising material during the forecast period?
  • What are the various end-use industries of global Steel Drum Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Capacity, Head Type, Material, By End-use Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Greif, Inc., BWAY Corporation, Schütz GmbH & Co. KGaA, Time Technoplast Ltd., Stavig Group, Great Western Containers Inc., Peninsula Drums CC, Patrick J. Kelly Drums, Skolnik Industries, Inc., and Balmer Lawrie & Co. Ltd. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Steel Drum Market by Capacity

• • 55 Gallon Steel Drum
  • Other than 55 Gallon Steel Drum

Global Steel Drum Market by Head Type

• • Tight Head Steel Drum
  • Open Head Steel Drum

Global Steel Drum Market by Material

• • Carbon Steel
  • Stainless Steel

Global Steel Drum Market by End-Use Industry

• • Food & Beverages
  • Healthcare and Pharmaceuticals
  • Oils & Lubricants
  • Paints & Dyes
  • Chemicals and solvents
  • Building and construction
  • Agriculture
  • Others

Global Steel Drum Market by Region

• • North America Steel Drum Market (Option 1: As a part of the free 25% customization)
    • North America Steel Drum Market by Capacity
    • North America Steel Drum Market by Head Type
    • North America Steel Drum Market by Material
    • North America Steel Drum Market by End-Use Industry
    • US Steel Drum Market All-Up
    • Canada Steel Drum Market All-Up
  • Europe Steel Drum Market (Option 2: As a part of the free 25% customization)
    • Europe Steel Drum Market by Capacity
    • Europe Steel Drum Market by Head Type
    • Europe Steel Drum Market by Material
    • Europe Steel Drum Market by End-Use Industry
    • UK Steel Drum Market All-Up
    • Germany Steel Drum Market All-Up
    • France Steel Drum Market All-Up
    • Spain Steel Drum Market All-Up
    • Rest of Europe Steel Drum Market All-Up
  • Asia-Pacific Steel Drum Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Steel Drum Market by Capacity
    • Asia-Pacific Steel Drum Market by Head Type
    • Asia-Pacific Steel Drum Market by Material
    • Asia-Pacific Steel Drum Market by End-Use Industry
    • China Steel Drum Market All-Up
    • India Steel Drum Market All-Up
    • Japan Steel Drum Market All-Up
    • Rest of APAC Steel Drum Market All-Up
  • RoW Steel Drum Market (Option 4: As a part of the free 25% customization)
    • RoW Steel Drum Market by Capacity
    • RoW Steel Drum Market by Head Type
    • RoW Steel Drum Market by Material
    • RoW Steel Drum Market by End-Use Industry
    • Brazil Steel Drum Market All-Up
    • South Africa Steel Drum Market All-Up
    • Saudi Arabia Steel Drum Market All-Up
    • UAE Steel Drum Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Steel Drum Market All-Up

Major Players Operating in the Steel Drum Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Greif, Inc.
  • BWAY Corporation
  • Schütz GmbH & Co. KGaA
  • Time Technoplast Ltd.
  • Stavig Group
  • Great Western Containers Inc.
  • Peninsula Drums CC
  • Patrick J. Kelly Drums
  • Skolnik Industries, Inc.
  • Balmer Lawrie & Co. Ltd.