Chemical Drums Market Growth Accelerated by Increased Demand for Chemical Transportation

 

Chemical drums are air and watertight cylindrical containers primarily used for the storage, handling and transportation of various liquid chemicals and hazardous materials. Chemical drums come in a variety of materials like steel, plastic and fiber with polyethylene and polypropylene being commonly used plastics owing to their chemical resistance and durability properties. The global Chemical Drums Market is estimated to be valued at US$ 21.44 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased global trade of chemicals over the years has been a key factor driving the demand for chemical drums for safe transportation of liquid chemicals across regions. Chemical drums being cost-effective and reusable means of transportation are highly preferred by chemical manufacturers and distributors. Furthermore, stringent regulations around the world regarding the packaging and containment of hazardous chemicals during transit has also boosted the adoption of chemical drums. Manufacturers are focusing on developing repurposed and sustainable drums made from recycled plastics and other materials to cater to the increasing emphasis on green packaging solutions, which is another major trend expected to propel the chemical drums market during the forecast period.

Segment Analysis
The global chemical drums market is dominated by the non-removable head segment as it accounts for nearly half of the total market share. Chemical drums with non-removable heads are widely used for storing and transporting industrial chemicals over short and medium distances. Their monoblock construction makes them more durable and prevents accidental spills during transport.

Key Takeaways
The global Chemical Drums market is expected to witness high growth during the forecast period of 2023 to 2030. The market is projected to reach a value of US$ 21.44 Bn by 2024, registering a CAGR of 5.6% during 2023-2030 forecast period.

Regional analysis: Asia Pacific region currently dominates the global chemical drums market and is expected to witness the fastest growth during the forecast period. Countries like China, India, Japan and South Korea have seen rapid industrialization and economic growth over the past decade. This has led to increased demand for chemicals from industries like paints & coatings, agriculture, oil & gas etc. Also, the presence of major chemical manufacturers in the region drives the need for effective packaging and transportation of chemicals.

Key players operating in the Chemical Drums market include Greif, Inc., Mauser Group, SCHÜTZ GmbH & Co. KGaA, Time Technoplast Ltd., Hoover Ferguson Group, Balmer Lawrie & Co. Ltd., Sicagen India Ltd., Industrial Container Services, LLC, Fibrestar Drums Limited, Snyder Industries, Inc., Sonoco Products Company, Great Western Containers Inc., Myers Container LLC, Myers Industries, Inc., and Eagle Manufacturing Company. Greif, Inc. and Mauser Group capture majority market share owing to their wide distribution network and high production capacities across regions.

Comments

Post a Comment

Popular posts from this blog

Blowing Agents in Action: Enhancing Sustainability and Performance in Modern Engineering

Image
  Blowing Agents: Unleashing the Power of Expansion in Materials Blowing agents are a remarkable class of chemical compounds that play a pivotal role in various industries, revolutionizing the way materials are manufactured and utilized. These agents are essential additives employed to induce controlled expansion in materials, leading to the creation of diverse products with unique properties and applications. From lightweight foams in packaging to insulating materials and beyond, blowing agents have become indispensable in modern manufacturing processes. 1. Understanding Blowing Agents: Blowing agents are substances designed to generate gas when subjected to specific conditions, such as heat, pressure, or chemical reactions. The produced gas forms bubbles within the material matrix, resulting in a cellular structure with reduced density. This cellular structure not only imparts lightness to the material but also enhances its thermal and acoustic insulation properties. 2. Versatil...
Read more

Multi-Depth Corrugated Box Market Trends 2023 - Industry Insights, Competition Analysis, Growth Rate and Forecast by 2030

Image
  A multi-depth corrugated box is a type of shipping or storage box that has the ability to be adjusted to different depths, allowing for greater flexibility and efficiency in packaging and shipping. This type of box is made of corrugated cardboard, which consists of a fluted layer sandwiched between two flat layers. Multi-depth corrugated boxes are typically made with a series of perforations or scores that allow the box to be easily adjusted to different depths. For example, a box with a height of 10 inches might have perforations at 2-inch intervals, allowing it to be adjusted to a depth of 2 inches, 4 inches, 6 inches, 8 inches, or 10 inches, depending on the specific needs of the user. The advantages of using multi-depth corrugated boxes include reduced inventory costs, improved packing efficiency, and better use of storage space. By using a single box that can be adjusted to different depths, businesses can reduce the number of different box sizes they need to stock and simp...
Read more

Acid Pickling Roll Market Growth Accelerated by Adoption of Anti-Rust Acid Pickle Rolls

Image
  Acid pickle rolls help remove scale, rust or oxide films from metallic surfaces and accurately prepare them for subsequent processing such as coating or plating to improve corrosion resistance. The demand for acid pickling rolls have increased in various end-use industries such as automotive, oil & gas, marine, energy, and general engineering to enhance product durability. The global Acid Pickling Roll Market is estimated to be valued at US$ 1,167 Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The growing adoption of anti-rust acid pickling rolls to increase product lifespan across various corrosion prone industrial applications has accelerated the growth of the acid pickling roll market. Acid pickling rolls equipped with advanced rust removal properties efficiently prepare metallic surfaces and ensure long term corrosion protection. Major mar...
Read more