Global Plastic Drums Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Plastic Drums Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Plastic Drums are industrial-grade containers made of polyethylene or polypropylene. They are lighter in weight and considered more cost-effective than their steel drum counterparts.

Market Overview:

The latest research study on the global Plastic Drums market finds that the global Plastic Drums market reached a value of USD 2757.95 million in 2022. It’s expected that the market will achieve USD 3189.37 million by 2028, exhibiting a CAGR of 2.45% during the forecast period.

Drivers

Wide application of Plastic Drums

Plastic Drums are one of the most common forms of industrial storage. They have a wide range of uses and offer many benefits in the long-term storage and transportation of goods in industrial quantities. At present, Plastic Drums are widely used in Food & Beverages, Chemical & Petrochemicals, Building and Construction, Agriculture and many other industries. In the food industry, products can be used to store and transport bulk foods, beverages and cooking oils, among others. The storage and control of hazardous and volatile chemicals is a very dangerous and challenging job in the chemical industry. Plastic Drums are commonly used to store chemicals, and Plastic Drums of HDPE material are UN approved for storage of chemicals. But when plastic drums are used for hazardous chemicals, they must be clearly marked and the product must undergo strict health and safety inspections. In the construction industry, products are used to store and transport a range of building materials. In general, Plastic Drums are widely used. With the development of Food & Beverages, Chemical & Petrochemicals, Building and Construction, Agriculture and other industries, the market demand for products will continue to increase. Therefore, the wide application of Plastic Drums is one of the important factors driving the development of the industry.

Restraints and Challenges

Product homogeneity competition

The plastic drums industry has low threshold, simple production process and many market participants. With the development of the market scale of the Plastic Drums industry, the market demand continues to expand, the industry development is relatively complete, the market price transparency is high, the corporate profits are low, and the products are easy to be imitated. Therefore, Plastic Drums are prone to homogenization. Product homogeneity refers to the phenomenon that products of the same category and different brands imitate each other in performance and marketing methods, or even gradually converge. At present, the homogeneity of Plastic Drums production is relatively serious. In this case, the company's products and services can be replaced by other similar companies' products. In this case, the main purchase basis of customers is price. Companies in the Plastic Drums industry mainly use price and discount as a means of differentiated competition. Product homogeneity has restricted the development of the Plastic Drums industry to a certain extent.

Opportunities

Chemical & Petrochemicals Market Size Continues to Expand

Chemical & Petrochemicals is an important basic industry of the national economy. The industry includes tens of thousands of product types, each with different physical and chemical properties. The downstream industry involves a wide range of industries, including medicine, automobiles, construction, agriculture, daily necessities and other industries. At present, with the continuous development of social economy, the market scale of Chemical & Petrochemicals is expanding. For example, in the case of Petrochemicals, petrochemicals are chemical products derived from petroleum. Petrochemicals include ethylene, propylene and benzene, as well as synthetic rubber. These products have become increasingly popular in recent years due to their economic stability and cost-effectiveness. Petrochemicals are widely used in packaging, fertilizers, digital equipment, textiles, detergents, medical equipment, tires and various other materials. Therefore, with the increasing market size of Chemical & Petrochemicals, there is an increasing demand for containers for storage and transportation by companies in this industry. Plastic Drums materials are inert and tolerate low or high pH levels. This property makes Plastic Drums ideal for transporting and storing chemicals and potentially volatile substances. Overall, as the market size of Chemical & Petrochemicals continues to expand, the demand for Plastic Drums in the market increases, which will be one of the important reasons for the development of the industry.

Region Overview:

In 2021, the share of the Plastic Drums market in United States stood at 23.60%.

Company Overview:

Greif Packaging LLC

Greif is a global leader in industrial packaging products and services and is pursuing its vision: In industrial packaging, be the best performing customer service company in the world. The Company produces steel, plastic and fiber drums, intermediate bulk containers, reconditioned containers, flexible products, containerboard, uncoated recycled paperboard, coated recycled paperboard, tubes and cores and a diverse mix of specialty products. The Company also manufactures packaging accessories and provides filling, packaging and other services for a wide range of industries. In addition, Greif manages timber properties in the southeastern United States. The Company is strategically positioned in over 40 countries to serve global as well as regional customers.

Mauser Packaging Solutions
Mauser Packaging Solutions is a global leader in solutions and services for the entire packaging lifecycle, serving companies large and small worldwide in industries ranging from food, beverage, personal care and pharmaceutical to chemicals, petrochemicals, agrochemicals and paints of metal, plastic, fiber and mixed packaging.

Greif Packaging LLC is one of the major players operating in the Plastic Drums market, holding a share of 10.81% in 2022.

Segmentation Overview:

HDPE
Polyethylene (PE) is a lightweight, multifunctional plastic made from the polymerization of ethylene. Polyethylene (PE) can be divided into HDPE, LDPE, LLDPE and so on according to density. HDPE is defined by a density greater or equal to 0.941 g/cm3. HDPE has a low degree of branching. The mostly linear molecules pack together well, so intermolecular forces are stronger than in highly branched polymers.

LDPE

LDPE is defined by a density range of 0.9100.940 g/cm3. LDPE has a high degree of short- and long-chain branching, which means that the chains do not pack into the crystal structure as well. It has, therefore, less strong intermolecular forces as the instantaneous-dipole induced-dipole attraction is less.

LLDPE

LLDPE is defined by a density range of 0.9150.925 g/cm3. LLDPE is a substantially linear polymer with significant numbers of short branches, commonly made by copolymerization of ethylene with short-chain alpha-olefins (for example, 1-butene, 1-hexene, and 1-octene).
Polypropylene (PP)
Polypropylene (PP) is a tough, rigid and crystalline thermoplastic. It is made from propylene (or propylene) monomer. Polypropylene ( PP ) has high impact resistance, strong and tough mechanical properties, and is resistant to various organic solvents and acid and alkali corrosion.

By type, HDPE segment accounted for the largest share of market in 2021.

Application Overview:

The market's largest segment by application is the segment Chemical & Petrochemicals, with a market share of 43.73% in 2021.

Key Companies in the global Plastic Drums market covered in Chapter 3:

GREAT WESTERN CONTAINERS INC.
Shanghai Pudong Gonglu Plastic Container Co., Ltd.
Mauser Packaging Solutions
Wujiang Qingyun Plastic Factory Co., Ltd.
TPL Plastech Ltd.
CL Smith Company
US Coexcell Inc.
Schütz GmbH & Co. KGaA
Pyramid Technoplast Pvt Ltd
CurTec Holdings BV
Greif Packaging LLC

In Chapter 4 and Chapter 14.2, on the basis of types, the Plastic Drums market from 2018 to 2029 is primarily split into:

HDPE
LDPE
LLDPE
Polypropylene (PP)

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Plastic Drums market from 2018 to 2029 covers:

Food & Beverages
Chemical & Petrochemicals
Building and Construction
Agriculture
Pharmaceuticals
Oil and lubricants
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)