Global Fiber Drums Market - 2021-2028
|出版日期||內容資訊||英文 180 Pages
|纖維桶的全球市場(2021年∼2028年) Global Fiber Drums Market - 2021-2028|
|出版日期: 2021年07月30日||內容資訊: 英文 180 Pages||
Fiber Drums Market Overview
The fiber drums market size was worth US$ XX billion in 2020 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).
Fiber drums are used for shipping bulk materials such as powders, liquids, or chemicals. The lightweight material is secure and solid, ensuring the perfect preservation of stored material. Fiber drums can be adapted for various uses by changing the lid, size and lining. They have been used in the pharmaceutical, paint, glue, chemical, food, waste and wire and cable industries. Fiber Drums are lightweight, durable and eco-friendly solution that can be easily opened and have a tamper-evident sealing feature. The drums are available with steel, fiber or plastic covers.
The drums offer air-tight packaging when sealed, thus preventing moisture from getting into the container. These drums are available in a variety of sizes and diameters based on the end-user's demand. Moreover, the drums can be lined with aluminium foil, polyethylene, foam or other materials to protect delicate products; or can be fitted with cores for containing cable and wire.
Fiber Drums Market Dynamics
The global fiber drums market growth is driven by increasing preference for lightweight containers, demand for recyclable packaging solutions and increasing use in hazardous material transportation.
Demand for recyclable packaging solutions
The fiber drums market is expected to drive with demand for recyclable packaging solutions. The environmental deterioration has reached its critical levels, forcing industries including industrial packaging to shift from traditional non-recyclable methods to sustainable solutions. As a result, ecological industrial packaging has been on the rise, mainly in European counties. Consumers are looking for recyclable, biodegradable and sustainable alternatives to minimize the environmental impact. The demand for fiber drums is on the spike due to its environment-friendly construction from recyclable materials. The drums offer an intelligent choice for businesses shifting towards more sustainable packaging. Abzac has been promoting fiber drums with 4 industrial production sites for fiber in German and Dutch markets. Moreover, the company has expanded its presence on the market by acquiring the Greif fiber drum business in the Netherlands and Germany.
Moreover, associations like Syndicat Europeen de l'Industrie des Futs Fibre (SEFFI) have been working with European fiber drum manufacturers to promote the benefits of fiber drums and represent the industry at international levels. The association has over 90% European manufacturers with a combined annual production of ten million fiber containers.
Presence of alternatives is likely to hinder the market growth
The fiber drums market is impacted by the presence of alternatives such as plastic and steel drums. Platic drums and steel drums have been used for numerous applications globally and account for most of the market share in the global drums market. The fiber drums market suffers from supply chain complexities, which is restraining the market growth.
Various leading companies have noticed a fewer demand for fiber drums in the global market, forcing manufacturers to shift the focus and investments in other alternative types of drums. For instance, Greif Inc. has closed its Tonawanda packaging manufacturing facility that manufactures fiber drums due to fewer demands from the market. These scenarios are expected to hamper the growth of the global fiber drums market.
COVID-19 Impact Analysis
Due to the pandemic, stakeholders across the fiber drums industry have seen a notable impact as all the production work, factories and other activities were closed. As a result, production was hindered by halts and supply chain disruption globally. Furthermore, after the pandemic, the governments still impose various restrictions, such as working with half the workforce and fewer operating hours hindering the production cycle of the market. Nevertheless, the fiber drums market growth is expected to return on track in the upcoming months. As a result, the losses are incorporated with less demand from food & beverages, chemical, construction and associated industries. For instance, U.S. chemicals trade was dropped by 16.4% in 2020. However, the market is expected to recover after the pandemic, with sectors aiming to complete the existing projects with higher production rates to recover from the incorporated losses.
Fiber Drums Market Segment Analysis
By closure, the fiber drums market is broadly classified into plastic, steel and fiber.
The fiber drums with steel closure are expected to grow at the fastest CAGR during the forecast period (2021-2028)
Fiber drums with steel closures are expected to hold the largest market for fiber drums market and are expected to continue their dominance in the forecast period. The fiber drum is provided with a steel cover and lever locking band to secure the drum body. Steel chimes help in reinforcing the top and bottom of the drum. The drum's strength against impact is enhanced with steel closures and the lock rim allows comfortable opening and closing.
The steel closures of the drum also have the benefit of quick filling and dispensing. The fiber drums with steel closures are widely used for flammable solids like metal powders, pharmaceutical powders, extractor dust, pigments or ink powders. Leading companies like The Cary Company, Yankee Containers have been delivering a variety of fiber drums with steel closure to transport hazardous material certified with UN rating.
Fiber Drums Market Geographical Analysis
North America region holds the largest market for global fiber drums globally
North America region holds the largest market share for the fiber drums market globally and is expected to continue its dominance in the forecast period. The region is estimated to possess high demand for fiber drums due to enlarging chemical industry. The region has emerged with the leading chemical manufacturers such as Dow, DuPont, and others who create the need for efficient transportation medium for chemicals. The chemical export of the US was valued at around $135 million in 2019. The use of fiber drums is highly advantageous in the region due to its eco-friendly nature and uncontaminated protection. The fiber drums are also used for shipping food products in the country.
The leading players in the region have been planning various strategies to strengthen their position in the market. For instance, in 2019, The Cary Company has acquired Three Rivers Packaging, Inc., a Pittsburgh-based industrial packaging and container distributor specializing in steel, fiber and plastic drums and Intermediate Bulk Containers to strengthen the Company's strong position in the Midwest after the integration of Gurman Container & Supply Corp in 2018.
Fiber Drums Competitive Landscape
The fiber drums market is consolidated with the local player's presence, followed by the global companies, contributing to the significant share in the market growth. In addition, some of the key players contributing to the growth of the market are Greif Inc, Abzac Corporate, Great Western Container, Fibrestar Drums, Schutz Container Systems, CL Smith, Industrial Container Services, TPL Plastech, Sonoco Product, Three Rivers Packaging, Enviro-Pak, Mauser Group, Orlando Drum & Container and others. Furthermore, the major players are adopting various new strategies to dominate the market, such as expansions, acquisitions and collaborations, contributing to the growth of the fiber drums market globally.
Overview: Greif Inc is a leader in industrial packaging products and services. The Company is positioned in over 40 countries to serve its global as well as regional customers.
Product Portfolio: The Company offers steel, plastic and fiber drums, intermediate bulk containers, flexible products, reconditioned containers, containerboard, uncoated recycled paperboard, coated recycled paperboard, tubes and a diverse mix of specialty products.
Key Development: In 2021, Greif, Inc. has announced an agreement to sell 69,200 acres of timberlands in southwest Alabama to Weyerhaeuser Company for approximately $149 million in cash.
The global fiber drums market report would provide access to an approx: 77 market data tables, 83 figures and 270 pages.
LIST NOT EXHAUSTIVE