The industrial pails market is expected to experience steady growth over the forecast period, driven by various factors. The market is projected to grow at an average compound annual growth rate (CAGR) of 4.6% from 2022 to 2032, reaching a value of US$ 12.1 billion by the end of that year.
One of the key drivers for the growth of the industrial pails market is the increasing demand for bulk packaging solutions with excellent barrier properties across multiple industry verticals. Industrial pails are used in sectors such as chemicals, agriculture, oil and lubricants, food and beverage, and building and construction.
These pails provide secure and reliable packaging, minimizing the risk of leakage during transportation and protecting the contents from external environmental factors. This is particularly important for the chemical sector, where safe transportation is crucial.
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Another factor contributing to the market growth is the rising demand for environmentally friendly bulk packaging options. Industrial pails are considered a sustainable choice for bulk packing, offering effective alternatives to conventional options. As the demand for high-value commodities requiring safe transportation and packaging increases, the market for industrial pails is expected to expand.
Industrial pails are versatile and can be used to pack various product forms, including liquids, granules, and powders. They also find application in the safe transportation of hazardous chemicals. These factors further support the market’s growth prospects over the anticipated timeframe.
Overall, the industrial pails market is expected to witness a steady expansion due to the increasing demand for bulk packaging solutions with exceptional barrier properties, the rising application in various sectors, the need for safe transportation of chemicals, and the growing preference for environmentally friendly packaging options.
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“Rising demand for sustainable, safe, and bulk packaging solutions will propel the market growth of the industrial pails over the forecast period,” says an FMI analyst.
Key Takeaways:
- Rising demand for spill-proof packaging solutions to boost market prospects.
- Germany will likely account for about 20% of the industrial pails market share in Europe.
- China industrial pails market is anticipated to expand 1.7x its current value.
- By material, the metal-based chemical resistant buckets will witness a surge in demand.
- In terms of end use, the chemicals industry coupled with the oil & lubricants sector will account for 2/5th of the market share.
Competitive Landscape
Key players engaged in the manufacturing of industrial pails are trying to focus on expanding their presence, product portfolios, capacities, and resources to meet the growing demand for industrial packaging in various regions. Some of the other key players are adopting mergers and acquisitions, as well as expansion strategies to compete with their rivals.
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Some of the latest industry developments are as follows –
- In November 2021, Alpla Werke Alwin Lehner GmbH & Co KG expanded its presence in Asia to cater to the growing demand for packaging products, including industrial pails.
- In April 2021, Mauser Packaging Solutions announced the acquisition of Global Tank Srl, which will help the company to expand its presence in the Europe market for industrial packaging products.
Industrial Pails Market Outlook by Category
By Material:
- Plastic
- Metal
By Capacity:
- Less than 1 Gal
- 1-3 Gal
- 4-6 Gal
- 7-10 Gal
- Above 10 Gal
By End Use:
- Chemicals
- Agriculture
- Food & Beverage
- Building & Construction
- Oil & Lubricants
- Automotive
- Others (Mining, etc.)
Key Players:
- Mauser Packaging Solutions
- Berry Global Group
- CL Smith
- Schoeller Allibert Services B.V.
- Alpla Werke Alwin Lehner GmbH & Co KG
- Vestil Manufacturing Corporation
- IPL, Inc.
- Wilkinson Containers Ltd.
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