Global fiber drums market: Introduction & Significance
Fiber drums are also known as cardboard drums. Hazardous goods and industrial chemicals are transferred from one end point to another end point. Primary application of fiber drums is that they are used for storing and transporting liquids. Changes in consumer behaviour and a rise in the number of people migrating from rural to urban areas is driving the growth of the global fiber drums market. Light weight, fully removable covers, sustainable packaging are some of the key features driving the growth of the global fiber drums market. Two of the key characteristics which are preferred in packaging and logistics solutions are portability and ease of handling.
The light weight of drums makes them an ideal choice for storage and transportation of hazardous chemicals. Fiber drums are used in various end-use industries, such as chemical, pharmaceutical and food & beverage, among others. Fiber drums find major applications in the logistics industry. In logistics industry, hazardous chemicals are transferred from one end point to another point via ships. The material used in fiber drums is fiber, plastic and steel. Due to its easy to handle property, the demand for fiber drums is increasing among the consumers. With the help of fiber drums, hazardous chemicals can be transferred safely because as the drum prevents any chemical reaction with the atmosphere and thus, fiber drums are more preferred over steel drums for the supply of hazardous chemicals. Fiber drums have low weight, which makes it easier for consumers lift them as well as reduce the shipping cost.
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Global fiber drums market: Market Dynamics
Robust growth in the chemical and pharmaceutical industry is anticipated to drive the growth of the global fiber drums market. Growth in the intercontinental trade of chemical & fertilizers is anticipated to boost the growth of the global fiber drums market. There are various factors which will facilitate the demand for fiber drums. Despite the positive outlook, there are certain factors which will hinder the growth of the global fiber drums market. Fluctuating raw material prices for the manufacturing of fiber drums are anticipated to be one of the restraining factors for the growth of the global fiber drums market. Growing end-use applications in food & beverages, pharmaceutical and construction sector will create opportunities in the global fiber drums market. Fiber drums are cost effective as compared to steel drums, which is another important factor fueling demand in the global fiber drums market.
Global fiber drums market: Segmentation
Fiber Drums Market Segmentation By capacity – 5 gallon- 10 gallon,10 gallon- 30 gallon,30 gallon-60 gallon,Above 60 gallon; By closure – Fiber,Metal,Plastic,Others; By end use industry – Chemical Industry,Pharmaceutical Industry,Food Industry,Construction Industry,Others;
Supply Side Analysis:
The collected numbers are obtained from key fiber drums manufacturers in the world, their product offerings and sales revenue in each market verticals. Sales revenue from fiber drums was estimated after comphrehensive product mapping. Various market industry experts, which include sales and marketing heads of fiber drums manufacturers, independent consultants and distributors, were contacted to validate the penetration of fiber drums in drums market.
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Demand Side Analysis:
The overall end use and market size and the penetration of fiber drums of fiber drums was determined in each of the end uses. The total value and demand of the fiber drums was mapped in each end use industry, across the world.
This approach is followed for the global market and bottom up analysis was used to arrive at the market size of fiber drums, in terms of consumption and revenue.
Global fiber drums market: Key players
Some of the key vendors that currently opearte in the fiber drums market and partitions market across the globe are: IQS Directory, CL Smith, O’Bryan Barrel Co, Inc., Borinquen Container Group, CGI Communications Inc., Sooner Container Inc., BASCO, Inc. , MAUSER, Izvar,
Milford Barrel, Midway Container;
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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