Steel Drums Market

Market Overview:

The global steel drums market size reached US$ 12.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 18.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.86% during 2024-2032. The significant rise in global trade, the growing demand for eco-friendly packaging solutions, and the bolstering growth of the chemical, and oil and gas industry represent some of the key factors driving the market.

Steel drums, also called steel barrels, are durable, lightweight, and corrosion-resistant cylindrical containers made of steel. They are commonly used for storage and transportation of liquid and solid materials. These drums are stackable and have a ribbed outer wall to improve rigidity. Steel drums are reusable, eco-friendly, and can withstand high pressure and temperature, making them a popular choice for packaging solutions. Steel drums can also be food-grade certified, making them suitable for storing and transporting edible products. As a result, they find extensive application across various industries, including petrochemical, chemical, food, pharmaceutical, and agriculture.

Steel Drums Market Trends:

The high operational efficiency of small steel drums in transporting liquid materials in bulk quantities represents one of the primary factors driving the market growth. Besides this, with increasing global trade and rapid industrialization, there is an increasing demand for steel drums for industrial storage and transportation purposes, which is creating a propitious outlook for the market. Moreover, the largescale demand for sustainable packaging solutions due to escalating consumer concerns regarding the environment and climate change is impelling the adoption of steel drums as they are reusable and recyclable. Concurrent with this, the widespread product adoption across the flourishing oil and gas, food and beverage (F&B), construction, and chemical industry industries for storage and transportation purposes is acting as another significant growth-inducing factor. In addition to this, the shifting preference for steel drums, as they offer much better durability and resilience than plastic and fiber drums and can withstand torque damage and blunt forces better, is strengthening the market growth. Furthermore, innovative technological advancements in steel drum manufacturing, improving the efficiency of production and reducing costs, are providing lucrative opportunities for the market growth. Other factors, such as the rising demand for customized steel drums tailored to specific needs, the surging product adoption for storing hazardous materials, and the bolstering growth of the e-commerce and logistics sectors, are positively impacting the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global steel drums market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on material, type, capacity, and industry vertical.

Material Insights:

• Stainless Steel
• Cold Rolled Steel
• Carbon Steel
   

The report has provided a detailed breakup and analysis of the steel drums market based on the material. This includes stainless steel, cold rolled steel and carbon steel. According to the report, carbon steel represented the largest segment.

Type Insights:

• Tight Head
• Open Head
   

A detailed breakup and analysis of the steel drums market based on the type has also been provided in the report. This includes tight head and open head. According to the report, tight head accounted for the largest market share.

Capacity Insights:

• Up to 10 Gallons
• 10-30 Gallons
• 30-50 Gallons
• 50-80 Gallons
• 80 Gallons and Above
   

The report has provided a detailed breakup and analysis of the steel drums market based on capacity. This includes up to 10, 10-30, 30-50, 50-80, and above 80 gallons. According to the report, 50-80 gallons represented the largest segment.

Industry Vertical Insights:

• Food and Beverages
• Healthcare and Pharmaceuticals
• Oils and Lubricants
• Paints and Dyes
• Chemicals and Solvents
• Building and Construction
• Agriculture
• Others
   

A detailed breakup and analysis of the steel drums market based on the industry vertical has also been provided in the report. This includes food and beverages, healthcare and pharmaceuticals, oils and lubricants, paints and dyes, chemicals and solvents, building and construction, agriculture, and others. According to the report, chemicals and solvents accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for steel drums. Some of the factors driving the Asia Pacific steel drums market included the rise in import and export activities, the growing demand for sustainable packaging solutions, and the bolstering growth of the oil and gas industry.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global steel drums market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Balmer Lawrie & Co. Ltd, Chicago Steel Container Corp., Clouds Drums Dubai LLC, General Steel Drum LLC (Stavig Group), Great Western Containers Inc., Greif Inc., Izvar Packaging (İzvar Ambalaj), James G Carrick and Co Ltd., Mauser Group B.V., Obal Centrum s.r.o., Orlando Drum Co., Rahway Steel Drum Co Inc. (Novvia Group), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Steel Drums Market Report Scope:

Key Questions Answered in This Report:

• How has the global steel drums market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global steel drums market?
• What is the impact of each driver, restraint, and opportunity on the global steel drums market?
• What are the key regional markets?
• Which countries represent the most attractive steel drums market?
• What is the breakup of the market based on the material?
• Which is the most attractive material in the steel drums market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the steel drums market?
• What is the breakup of the market based on capacity?
• Which is the most attractive capacity in the steel drums market?
• What is the breakup of the market based on the industry vertical?
• Which is the most attractive industry vertical in the steel drums market?
• What is the competitive structure of the global steel drums market?
• Who are the key players/companies in the global steel drums market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the steel drums market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global steel drums market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the steel drums industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.