The United States is poised to maintain its dominant position in the global fiber drum market, with an estimated market size of US$ 239.2 million by the end of the forecast period in 2033, exhibiting a solid compound annual growth rate (CAGR) of 4.2% from 2023 to 2033. This continued leadership is attributed to the country’s thriving chemical sector, which is driving a substantial demand for fiber drum barrels.
Notably, prominent chemical producers like Dow, DuPont, and others have established a strong presence in the United States, further fueling the need for efficient and reliable methods of chemical transportation. The widespread adoption of round fiber drums in the United States and Canada is due to their eco-friendly characteristics and their ability to provide uncontaminated protection for transported goods, including the country’s food products, which are often packed in square or round fiber drums.
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The Global fiber drums market is likely to be worth US$ 1.1 billion in 2023, with a CAGR of 5.7% from 2023 to 2033. The fiber drums industry is expected to reach US$ 1.80 billion by 2033.
Key Market Trends and Highlights:
- Environmental Consciousness:
- Growing environmental consciousness among the general public is driving demand for sustainable packaging solutions, influencing the fiber drums market positively. Consumer attitudes toward sustainability have shifted significantly over the last decade, a trend expected to continue.
- Durability and Safety:
- Fiber drums offer a lightweight yet durable and secure packaging solution, ensuring the safety of commodities during transportation. This feature is crucial for sectors such as food and agro-allied, pharmaceuticals, and chemicals.
- Cost-effectiveness and Corrosion Resistance:
- Fiber drum barrels are more cost-effective and offer better corrosion resistance compared to plastic or steel drums. This makes them an attractive alternative for various industries.
- Industry Adoption:
- The food and agro-allied business is expected to grow by 1.6 times, driven by the increasing transportation of food products, ingredients, and flavorings.
Market Dynamics:
- Weight Reduction in Bulk Packaging:
- Manufacturers are focusing on reducing the weight and dimensions of packaging to minimize shipping costs. Fiber drums’ lightweight characteristics help reduce transportation costs without compromising packaging quality.
- E-commerce Growth:
- The rise of e-commerce and the shift toward online retail are boosting demand for fiber drum packaging, which aligns well with on-demand and small batch production models.
- Sustainable Packaging:
- Various industries are adopting sustainable packaging solutions, benefiting the fiber drums market. Legislative standards and environmental consciousness have led to a preference for eco-friendly packaging materials, even for bulk packaging.
- Government Initiatives:
- Governments in leading economies such as China, South Korea, and India are implementing initiatives to boost trade volume, which is expected to increase demand for fiber drum barrels.
Opportunities:
- Customization for Various Applications:
- Fiber drums can be customized to hold a variety of materials, including liquids. For instance, polyethylene lining is used for semi-liquids, while silicone lining is used for adhesives.
- Profit Margin Enhancement:
- Fiber drums are a cost-effective way to ship goods due to the lower cost of high-density paperboard compared to plastic or steel alternatives. Additionally, manufacturing fiber drums with various specifications is simple and cost-efficient.
Regional Assessment:
Asia-Pacific region has the leading fiber drums market share throughout the projection period due to the presence of an increasing number of manufacturing units and emerging economies in countries such as China, India, Australia, and Indonesia.
These are the countries that export packaging materials as well as fiber drum packaging all over the world. Due to low labor costs and the availability of native raw materials in this region, manufacturers prefer this manufacturing unit for the packaging sector.
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Key Takeaways:
- From 2023 to 2033, the metal closure category may expand at a CAGR of 5.7% by closure type in the fiber drums market.
- The food and agro-allied industry category might develop at a CAGR of 5.9% from 2023 to 2033, according to the end-user segment.
- Between 2023 and 2033, China market might expand at a CAGR of 6.8%, reaching US$ 346.8 Million.
- By 2033, Japan fiber drums market may have increased at a CAGR of 5.6%, reaching US$ 96.6 million.
- By 2033, the United States market is anticipated to record a CAGR of 4.2% and reach US$ 239.2 Million.
- By 2033, Canada market can have grown at a CAGR of 4.9%, reaching US$ 92.6 million.
- Germany fiber drums market could have expanded at a CAGR of 4.8% by 2033 and may have amounted to US$ 94.5 Million.
Competitive Landscape:
The presence of local players, followed by international firms, has helped to consolidate the fiber drums market, which has contributed significantly to market growth.
A few significant fiber drum manufacturers include Greif Inc., Abzac Corporate, Great Western Container, Fiberstar Drums, Schutz Container Systems, CL Smith, Industrial Container Services, TPL Plastech, Sonoco Product, Three Rivers Packaging, Enviro-Pak, Mauser Group, Orlando Drum & Container, and others.
The key competitors are utilizing a variety of fresh tactics to control the market, such as expansions, acquisitions, and partnerships, which are boosting the demand for fiber drums on a global scale.
Intercontinental Trade of Industrial Products to Boost Demand for Fiber Drums
Growth in demand for fiber drums is expected to result from expanding intercontinental trade. This is likely to boost the demand for shipping and packaging industry, consequently raising the uptake of fiber drums as packaging solution.
Vendors in the fiber drums market have consistently worked on improvement in product design and value creation for end user. Since, global trade of industrial products has also increased three fold during the past decade, it necessitated industries such as bio-chemical manufacturers, food grade ingredient manufacturers, and pharmaceutical companies etc. to use fiber drums to reduce their carbon footprint.
Demand is also anticipated to be driven by the widened use of large, layered fiber drums which ensures increased performance and are also economical in terms of drums made with materials such as metal and plastic. The adequate sealing of these drums with metal makes them an ideal choice for shipping across rough seas. The increasing performance of lightweight bulk containers such as these drums has strengthened the scope of their usage.
“The challenges associated with recyclability of fiber drums is building infrastructure to manage increased recycling and segregation of substrates such as closure lids or polyethylene lining to prevent leakages. Ensuring these steps before recycling the fiber drums would ensure that they never end up in a landfill or dump. This involves strengthening and developing more advanced recycling technologies. A one-time investment in recycling is expected to result in a long-term benefit for vendors in the fiber drums market,” says an FMI analyst.
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Key Segments
By Capacity:
- Below 25 Gallons
- 25-50 Gallons
- 50-75 Gallons
- Above 75 Gallons
By Closure Type:
- Metal Closure
- Plastic Closure
- Fiber/ Cardboard Closure
By End Use:
- Chemical Industry
- Food & Agro Allied Industry
- Pharmaceutical Industry
- Building & Construction Industry
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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