A detailed study on Composite Drums market by FMI provides riveting insights into key dynamics, such as drivers and opportunities, facilitating the growth in the market. It uncovers challenges posing threats and highlights prospects for growth in the near future.
As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global Composite Drums market is expected to grow at a healthy CAGR during the forecast period (2022-2032). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales Composite Drums in the coming 10-years.
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Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Composite Drums
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Composite Drums market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Composite Drums Market Takeaways and Projections
- The U.S. is expected to lead the North America Composite Drums market, projecting the fastest growth in the region between 2022-2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
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Report Benefits & Key Questions Answered
- Composite Drums Historical Market Analysis: The detailed survey by FMI, examines key factors in the Composite Drums market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Composite Drums market for the forecast period 2022-2032.
- Composite Drums Category & Segment Level Analysis: The category & segment level analysis conducted by FMI studies the market in terms of segments. It studies the vital dynamics across each segment and also highlights their growth prospects in the coming ten years.
- Composite Drums Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Composite Drums for the assessment period. As per the study, the demand for Composite Drums will grow at a robust CAGR between 2022-2032.
- Composite Drums Company & Brand Share Analysis: A recent study by FMI highlights a comprehensive list of leading market players and stakeholders in the global Composite Drums market. It examines the business execution, cost structure analysis, and supply chain analysis, of Tier 1, Tier 2, and Tier 3 players for the forthcoming decade.
- Composite Drums Market Trend Analysis: The latest study by FMI on the Composite Drums market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
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Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Composite Drums market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
It also provides a list of leading players and recent development in the global Composite Drums market. Some of the players in the global Composite Drums market are
- SCHÜTZ GmbH & Co. KGaA
- Myers Container
- Balmer Lawrie Industrial Packaging
- AI Containers
- E-con Packaging Pvt. Ltd.
- Greif Inc.
- Entegris, Inc.
Composite Drums Market: Market Segmentation
Globally, the Composite Drums market has been segmented on the basis of material type, capacity, end use and region:
On the basis of material type, the global Composite Drums market has been segmented as:
- Steel
- Polyethylene
On the basis of capacity, the global Composite Drums market has been segmented as:
- Less than 30 liters
- 30 liters to 50 liters
- 50 liters to 100 liters
- 100 liters to 200 liters
- 200 liters & above
On the basis of end use, the global Composite Drums market has been segmented as:
- Pharmaceuticals
- Chemicals
- Petroleum
- Food & Beverages
- Other industries
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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