The industrial pails market is anticipated to undergo significant growth in the coming years, with an average compound annual growth rate (CAGR) of 4.6% from 2022 to 2032. By the end of this period, the market is estimated to reach a value of approximately US$12.1 billion.
The growth of the industrial pails market can be attributed to several factors. Firstly, there is an increasing demand for pails that cater to specific size requirements in various industries. Different sectors rely on pails with precise dimensions to meet their unique packaging needs, thereby contributing to the market’s expansion.
Secondly, there is a growing need for bulk packaging solutions with exceptional barrier features. Industries such as chemicals, agriculture, oil and lubricants, food and beverage, and building and construction require packaging options that provide reliable protection and minimize the risk of leakage during transportation. Industrial pails fulfill these requirements, making them the preferred choice in these sectors.
Furthermore, the market for industrial pails is driven by the rising demand for safe, secure, long-lasting, and reliable bulk packaging materials. These pails ensure the safe transportation of chemicals and protect them from the external environment. This is particularly advantageous for the developing chemical sector as it enables secure transportation and minimizes risks.
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Moreover, there is an increasing demand for environmentally friendly bulk packaging options. As the need for sustainable packaging solutions grows, industrial pails offer an effective alternative to conventional options. This, coupled with the rising demand for safely packaging high-value commodities, contributes to the expansion of the target market.
Additionally, industrial pails are versatile and can be used to pack various forms of products, including hazardous chemicals, liquids, and granulated/powdered substances. This versatility, along with their safety and sustainability features, further supports the market’s growth.
“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.
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.
Key Benefits for industrial pails market:
• Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• Major countries in each region have been mapped according to their individual revenue contribution to the global/regional market.
• It outlines the current trends and future scenario of the market from 2022 to 2032 to understand the prevailing opportunities and potential investment pockets.
• The profiles of key players along with their key strategic developments are enlisted in the report.
• The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study
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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.
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.
Regional Analysis:
Germany: The demand for industrial pails in Germany is fueled by the rising export of paints. Germany is expected to hold a significant share of the Europe industrial pails market, around 20% by the end of the forecast period. The German market has seen a substantial supply of paint products to various industries, such as car repair, mechanical engineering, furniture, and more. In 2021, approximately 352,000 tons of paint worth 2.1 billion Euro were exported by the German coatings and printing inks industry. This increased export of paints drives the need for industrial metal pails, as they are commonly used for packaging and transporting paint products.
China: The industrial pails market in China is experiencing lucrative opportunities due to the increasing production of chemicals in the country. China is the largest producer of chemicals in the world, accounting for around 45% of global chemical sales in 2020, according to the European Chemical Industry Council (CEFIC). As the chemical industry continues to expand in China, there is a growing need for industrial packaging, including pails, to store and transport chemicals safely. The projected growth of the chemical sector in China is expected to drive the demand for industrial pails, creating new opportunities for manufacturers in the market.
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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.)
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