The demand for sustainable packaging is expected to push the global market for corrugated open-head drums to a valuation of US$ 12.9 billion in 2023. The market is anticipated to benefit from the trend, which is predicted to open up new prospects, with a projected CAGR of 8.0% between 2023 and 2033 and a total worth of about US$ 27.9 billion by that time.
The strict rules are one of the main drivers of the market expansion for corrugated open-head drums. Around the world, governments and regulatory agencies are enforcing stricter rules for packaging materials, trash disposal, and managing hazardous materials. Businesses can depend on corrugated open-head drums, which are in compliance with a number of industry standards and regulations, to help them satisfy these demands.
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Recent Developments:
- In 2023, Skolnik Industries, Inc., a US-based manufacturer of corrugated open-head drums, launched a new line of drums that are specifically designed for the storage and transportation of food products. These drums are made from food-grade materials and are designed to meet the strict requirements of the food industry.
- In 2022, Greif, Inc., a leading manufacturer of corrugated open-head drums, announced the acquisition of Uniloy Manufacturing, a manufacturer of plastic processing equipment. This acquisition will help Greif to expand its product portfolio and manufacturing capabilities.
- In 2022, BWAY Parent Company, another key player in the corrugated open-head drums market, launched a new line of drums made from recycled materials. These drums are designed to be more environmentally friendly than traditional drums.
Key Players
SCHÜTZ GmbH & Co. KGaA., Greif, Inc, Mauser Group B.V., Fass-Braun GmbH, Anglo American Steel L.L.C., Al Fujairah Steel Barrels & Drums (LLC), Pipeline Packaging, Rehway Steel Drum Co., Inc., Skolnik Industries, Inc.
Analysis of the Top Market Players:
Competition is a major subject in any market research analysis. This is a report provided with the help of the competitive analysis provided in the players can easily study key strategies adopted by leading players in the Corrugated Open-head Drums market. Major and emerging players of the market are closely studied taking into consideration their market share, production, revenue, sales growth, gross margin, product portfolio, and other significant factors. This will help players to become familiar with the moves of their toughest competitors in the market.
Corrugated Open-head Drums Market: Segmental Highlights
The segmentation chapter allows readers to understand aspects of the Corrugated Open-head Drums market such as products/services types, available technologies, and applications. The research report also provides insightful information on new trends that are likely to define the progress of these segments over the next few years. The assessment of the market factors gives a brief overview of the impact on the demand over the forecast period. In the Study, you will find new evolving Trends, Drivers, Restraints, and Opportunities generated by targeting market-associated stakeholders.
Knowing how the product/services fit the needs of clients and what changes would require to make the product more attractive is the need of an hour. In order to make marketers make effective strategies and identify why the target market is not giving attention, we ensure the Study is Segmented with appropriate marketing & sales channels to identify potential market size by Revenue and Volume. Demand-side analysis always helps to correlate consumer preferences with innovation. Understanding marketing effectiveness on a continual basis help determine the potential of advertising and marketing communications and allow us to use best practices to utilize an untapped audience.
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Key Segments:
By Capacity:
- Below 25 Gallons
- 25-50 Gallons
- 51-75 Gallons
- Above 75 Gallons
By Closure Type:
- Metal Closure
- Plastic Closure
- Fiber Closure
By End Use:
- Food & Beverage
- Chemicals & Fertilizers
- Agriculture
- Building & Construction
- Pharmaceuticals
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
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