The nestable drums market is poised for substantial growth with an estimated CAGR of 7% throughout the forecast period. By 2032, it is projected to attain a market share of approximately US$ 23.61 billion, a significant increase from its valuation of US$ 12 billion in 2022. This growth is primarily driven by the burgeoning transportation and logistics sector. Nestable drums, sought after for their space-saving attributes, effectively reduce the volume of empty packaging during storage and shipment.
The demand for nestable drums remains robust due to their space-saving attributes, which reduce the volume of empty packaging to store and transport. Additionally, nestable drums provide assurance of compliance with food safety and migration regulations, underpinning their growing market share.
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Nestable drums are available in various capacities to meet diverse demands, and they are favored for their ease of handling, reusability, sustainability, and stackability, which enhance their market appeal. Manufacturers particularly appreciate these drums for transporting hazardous solids, as they facilitate safe and efficient material transfer. The tamper-evident features of nestable drums make them versatile for use across multiple industries, further boosting their sales.
With applications spanning various sectors like chemicals, food and beverage, and petroleum, the demand for nestable drums continues to rise, as they ensure secure and convenient material shipment. Consequently, the global nestable drums market is anticipated to maintain a positive outlook in the foreseeable future.
Manufacturers find nestable drums particularly valuable for transporting hazardous solids due to their convenient transferability. Additionally, tamper-evident features make them versatile across various industries, thereby further boosting their sales.
Given their wide-ranging applications across sectors like chemicals, food and beverage, and petroleum, the demand for nestable drums remains consistently high. The positive global outlook for the nestable drums market is expected to persist over the projected period, driven by their vital role in secure and efficient material transportation.
What Factors are Contributing to the Growth of the Nestable Drums Market?
The demand for nestable drums has increased as the transportation and logistics business has grown. Nestable drums are projected to expand in popularity as petrochemical demand grows. The cost-effectiveness of nestable drums is one of the primary factors impacting the sales of nestable drums.
Moreover, nestable drums are more cost effective than metal drums. As a result, nestable drums are preferred by manufacturers and converters. Nestable drums provide reusability and cost savings, resulting in a diverse range of applications across the globe, expanding the sales of nestable drums.
As a result, nestable barrels are utilised for industrial packing to save money and control pallet loading. The aforementioned factors are expected to propel the worldwide nestable drums market share.
What are the Stumbling Blocks in the Nestable Drums Market?
Despite the favourable aspects, there are certain obstacles to the growth of the global nestable drums market. Due to the availability of an alternative product on the market, demand for nestable drums may fall.
Which is the Leading Region in the Nestable Drums Market?
On the basis of the region, the global nestable drums market is segmented as North America, Latin America, Europe, the Middle East, and Africa (MEA), East Asia, South Asia, and Oceania. During the projected period, Europe is expected to drive demand for nestable drums.
The presence of chemical firms in this region, particularly in Germany, is thought to be the cause. The nestable drums market in North America is projected to follow that of Europe.
The United States is predicted to dominate the North American nestable drums market share, while Canada is expected to rise significantly during the forecast period. During the next decade, sales of nestable drums are predicted to increase in Asia Pacific excluding Japan (APEJ).
Latin America is predicted to see average growth in the sales of nestable drums. During the forecast period, the global nestable drums market is predicted to grow slowly in the Middle East and Africa (MEA).
What is the Competitive Outlook of the Nestable Drums Market?
Greif Inc, Time Technoplast Ltd, Snyder Industries, Inc, CurTec, Greystone Logistics, Inc, Drums Food International Pvt Ltd, Bewi Norplasta, Drum Workshop Inc are some major key players in the nestable drums market which are taking advantage of every opportunity available in the nestable drums market.
The study delves into parent market trends, macroeconomic data, and governing factors, as well as market potential and the attractiveness of the nestable drums market by segment. The study also maps the qualitative impact of major market parameters on market segments and geographies, as well as their corresponding effects on the sales of nestable drums.
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Key Segments
By Capacity:
- 7- 13 Gallon
- 13-19 Gallon
- 19- 40 Gallon
- Above 40 Gallon
By End Use:
- Pharmaceuticals
- Chemicals
- Food & Beverages
- Petroleum
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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