Anticipated to attain a valuation of US$ 7.8 billion in 2022, the global industrial pails market is poised for substantial growth, projected to expand at a commendable CAGR of 4.6% from 2022 to 2032. Projections suggest that the market will reach a noteworthy US$ 12.1 billion by the conclusion of 2032. The sales trajectory for industrial pails is expected to experience a significant boost, with the top three countries projected to collectively command approximately 30-35% of the market share by the end of 2022, underscoring the global significance of this essential packaging component in various industries.
The foreseeable surge in demand for industrial pails over the next decade is attributed to a myriad of advantages they offer, including stackability, durability, environmental friendliness, customization options, moisture resistance, and robust carrying capacity. These inherent benefits are poised to fuel the rapid growth of the global industrial pails market, making them a preferred choice across diverse industries.
Germany is poised to secure approximately 20% of the European industrial pails market share by the conclusion of the forecast period, driven by heightened paint product exports. Notably, the Association of the German Coatings and Printing Inks Industry reported that in 2021, the German market supplied a substantial 352,000 tons of paint valued at 2.1 billion Euros to key sectors like car repair, mechanical engineering, furniture, and more, underscoring the country’s pivotal role in the industrial pails market within the European region.
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Key Market Drivers-
- Industrial Growth: The expansion of various industries, including chemicals, paints and coatings, lubricants, and construction, drives the demand for industrial pails for packaging and transporting their products.
- Product Protection: Industrial pails are designed to provide robust protection for the contents, preventing contamination, spillage, and damage during storage and transport.
- Regulatory Compliance: In industries like chemicals, compliance with regulations for the safe storage and transportation of hazardous materials necessitates the use of certified and compliant industrial pails.
- Bulk Packaging: Industrial pails are often used for bulk packaging, enabling efficient handling and storage of large quantities of products.
- Versatility: Industrial pails are versatile and used for a wide range of products, including liquids, powders, granules, and semi-solid materials.
- Recyclability: Many industrial pails are made from recyclable materials, contributing to sustainability goals and meeting eco-friendly packaging requirements.
- Cost-Effective Packaging: The cost-effectiveness of industrial pails, particularly for bulk and industrial-scale packaging, makes them an attractive choice for businesses.
The Major Key Players Are-
- 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.
Tamper Evident Plastic are widely used for packaging and storage of various industrial products such as chemicals, food products, and personal care products. These pails are made of various materials such as plastic, metal, and fiber, which makes them suitable for different types of products. The increasing demand for industrial pails from various end-use industries such as food and beverages, chemicals, and personal care is expected to drive the market growth.
The food and beverages industry is expected to be the largest end-use industry for Tamper Evident Plastic. The increasing demand for packaged food products and the growing number of food processing units are expected to drive the market growth. The chemical industry is also expected to be a major end-user of industrial pails. The increasing demand for chemical products and the growing number of chemical processing units are expected to drive the market growth.
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The personal care industry is also expected to be a major end-user of industrial pails. The increasing demand for personal care products and the growing number of personal care product manufacturing units are expected to drive the market growth.
The global industrial pails market is segmented on the basis of material, end-use industry, and region. On the basis of material, the market is segmented into plastic, metal, and fiber. On the basis of end-use industry, the market is segmented into food and beverages, chemicals, and personal care. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
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-
The Asia Pacific region is expected to dominate the global industrial pails market during the forecast period. The increasing demand for industrial pails from various end-use industries such as food and beverages, chemicals, and personal care in countries such as China, India, and Japan is expected to drive the market growth in this region.
The North American region is expected to be the second-largest market for industrial pails. The increasing demand for industrial pails from various end-use industries such as food and beverages, chemicals, and personal care in countries such as the United States and Canada is expected to drive the market growth in this region.
The Europe region is expected to be the third-largest market for industrial pails. The increasing demand for industrial pails from various end-use industries such as food and beverages, chemicals, and personal care in countries such as Germany, France, and the United Kingdom is expected to drive the market growth in this region.
The Rest of the World region is expected to be the fourth-largest market for industrial pails. The increasing demand for industrial pails from various end-use industries such as food and beverages, chemicals, and personal care in countries such as Brazil, Mexico, and South Africa is expected to drive the market growth in this region.
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Industrial Pails Market Segmentations:
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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