Global Steel Drum Market Size is Projected to Grow $18.87 Billion by 2030 With a CAGR of 5.75% | Energy and Heavy Industry Analysis

Salt Lake City, UT, April 06, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Steel Drum Market By Material Type (Carbon Steel, Cold Rolled Steel, Stainless Steel), By Drum Head Type (Open Head, Tight Head), By Gallon Capacity (Up To 10 Gallons, 10-30 Gallons, 30-50 Gallons, 50-80 Gallons And Above), By End-User (Agriculture, Building And Construction, Chemicals & Solvents, Food & Beverages, Healthcare & Pharmaceuticals, Oils & Lubricants, Paints & Dyes, Others), And By Region: Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Steel Drum Market size & share in terms of revenue was valued at USD 11.53 billion in 2022 and it is expected to surpass around USD 18.87 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.75% during the forecast period 2023 to 2030.”

What is Steel Drum? How big is the Steel Drum Industry?

Steel Drum Market Coverage & Overview:

The global steel drum market size was valued at USD 11.53 Billion in 2022 and is expected to reach USD 18.87 Billion by 2030, growing at a compound annual growth rate (CAGR) of 5.75% during the forecast period.

Steel drums, also known as steel barrels, are cylindrical containers made of steel that are commonly used for storing and transporting a variety of materials. They come in various sizes, ranging from 5 gallons to 110 gallons, and can hold liquids, solids, and even gases. Steel drums are known for their durability and strength, which make them ideal for use in industrial settings. Steel drums are commonly used in industries such as chemicals, petroleum, paints, and pharmaceuticals. They are preferred for the storage and transportation of hazardous materials due to their resistance to damage, punctures, and leaks. Steel drums can also be recycled, making them an eco-friendly packaging solution. Steel drums can be customized with features such as bungs, closures, and fittings to suit specific needs. They can also be coated or lined with materials such as epoxy or phenolic to prevent corrosion and ensure the integrity of the contents. Overall, steel drums are a reliable, durable, and versatile packaging solution for a wide range of industries, making them an essential part of the global supply chain.

Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs - https://www.zionmarketresearch.com/sample/steel-drum-market

(A free sample of this report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the Following:

• Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
• The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
• About 220+ Pages Research Report (Including Recent Research)
• Provide detailed chapter-by-chapter guidance on Request
• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
• Includes Tables and figures have been updated
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
• Zion Market Research research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Steel Drum Market: Growth Factors

The global steel drum market is driven by several factors, including the increasing demand from various industries such as chemicals, petroleum, paints, and pharmaceuticals, the durability and recyclability of steel drums, and the expansion of e-commerce and logistics industries. The focus on sustainable packaging solutions and the growing awareness of the benefits of steel drums over plastic drums and intermediate bulk containers (IBCs) are also driving the market growth.

The steel drum industry presents several opportunities for growth, including the development of innovative steel drum designs with added features and functionalities, the expansion into new regions, and the increasing demand for eco-friendly packaging solutions. However, there are also restraints that can hinder the growth of the steel drum market, including the high cost of steel drum recycling, the volatility of raw material prices, and the increasing competition from alternative packaging solutions such as plastic drums and IBCs. The COVID-19 pandemic has also disrupted global supply chains and affected the production and distribution of steel drums, leading to supply chain bottlenecks and price fluctuations.

Directly Purchase a copy of the report with TOC @ https://www.zionmarketresearch.com/buynow/su/steel-drum-market

Report Scope

Steel Drum Market: Segmentation Analysis

The global steel drum market is segmented into material type, drum head type, gallon capacity, end-user, and region.

Based on gallon capacity, the market is bifurcated into up to 10 gallons, 10-30 gallons, 30-50 gallons, 50-80 gallons, and above. The 50-80 gallon segment held the largest market share in 2022 and is projected to cite a significant CAGR during the forecast period. This segment is the most commonly used size for industrial packaging and is widely used in various industries such as chemicals, petroleum, and paints. The 55-gallon steel drums offer a perfect balance between size, weight, and capacity, making them ideal for the transportation and storage of both liquid and solid materials. Moreover, the 55-gallon steel drums are easily stackable, which allows for efficient storage and transportation, reducing costs and maximizing space utilization. The drums also have a standardized design, which ensures compatibility with existing equipment and facilitates the movement of goods across supply chains. Thus, the 55-gallon steel drum segment is expected to continue to dominate the market in the coming years, driven by its versatility, reliability, and cost-effectiveness.

Based on material type, the market is segmented into carbon steel, cold rolled steel, and stainless steel.

Based on drum head type, the market is bifurcated into open head and tight head segments.

Based on end-user, the market is segmented into agriculture, building and construction, chemicals & solvents, food & beverages, healthcare & pharmaceuticals, oils & lubricants, paints & dyes, and others. Steel drums are widely used in the chemicals industry for the transportation and storage of various chemicals, including hazardous and non-hazardous substances. The steel drums offer several benefits to the chemicals industry, including their durability, strength, and ability to withstand harsh environments. Moreover, the steel drums offer airtight and secure packaging, which is essential for the safe transportation of chemicals. They are also suitable for a wide range of applications, from the storage of liquids to the transportation of solid materials.

The global Steel Drum market is segmented as follows:

By Material Type

• Carbon Steel
• Cold Rolled Steel
• Stainless Steel
• By Drum Head Type
• Open Head
• Tight Head

By Gallon Capacity

• Up To 10 Gallons
• 10-30 Gallons
• 30-50 Gallons
• 50-80 Gallons And Above

By End-User

• Agriculture
• Building And Construction
• Chemicals & Solvents
• Food & Beverages
• Healthcare & Pharmaceuticals
• Oils & Lubricants
• Paints & Dyes

Browse the full “Steel Drum Market By Material Type (Carbon Steel, Cold Rolled Steel, Stainless Steel), By Drum Head Type (Open Head, Tight Head), By Gallon Capacity (Up To 10 Gallons, 10-30 Gallons, 30-50 Gallons, 50-80 Gallons And Above), By End-User (Agriculture, Building And Construction, Chemicals & Solvents, Food & Beverages, Healthcare & Pharmaceuticals, Oils & Lubricants, Paints & Dyes, Others), and By Region: Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030”- Report at https://www.zionmarketresearch.com/report/steel-drum-market

Competitive Landscape

Some of the main competitors dominating the global Steel Drum market include - 

• Mauser Packaging Solutions
• Greif Inc.
• Schutz Container Systems
• Industrial Container Services
• C.L. Smith
• Myers Container
• North Coast Container
• LINDRUM Manufacturing
• Eagle Manufacturing Company
• Skolnik Industries Inc.
• Cleveland Steel Container
• General Steel Drum
• Fibrestar Drums Limited
• St. Boniface Pallet Company
• Patrick J. Kelly Drums
• Drum Service Inc.
• Drumco of Florida Inc.
• Great Western Containers Inc.
• James G. Carrick & Co. Ltd
• American Steel Drum Company
• Best Containers Inc.
• Youngstown Barrel & Drum Co. Inc.
• EBKContainers
• Shawson Plastics.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Steel Drum market is likely to expand at a CAGR of around 5.75% during the forecast period (2023-2030).                                            
• In terms of revenue, the Steel Drum market size was valued at around US$ 11.53 billion in 2022 and is projected to reach US$ 18.87 billion by 2030.
• Based on material type, the carbon steel segment held the largest segment in 2022.
• Based on drum type, the tight head segment held the dominating market share in 2022.
• Based on region, the Asia-Pacific region is expected to cite the fastest CAGR during the forecast period.

Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/steel-drum-market

Key questions answered in this report:

• What is the market size and growth rate forecast for Steel Drum industry?
• What are the main driving factors propelling the Steel Drum Market forward?
• What are the leading companies in the Steel Drum Industry?
• What segments does the Steel Drum Market cover?
• How can I receive a free copy of the Steel Drum Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Material Type, By Gallon Capacity, By End-User, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Request for Customization on this Report as per your requirements - https://www.zionmarketresearch.com/custom/5692

(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)

Regional Analysis:

The Asia-Pacific region held a notable steel drum market share in 2022 and is further predicted to cite the fastest CAGR during the forecast period. The steel drum market in the Asia Pacific region is expected to witness significant growth in the coming years, driven by factors such as increasing industrialization, rising urbanization, and growing demand for eco-friendly packaging solutions. The region is home to several emerging economies such as China, India, and Southeast Asian countries, which are experiencing rapid industrialization and infrastructural development. The increasing demand for steel drums from various end-use industries such as chemicals, petroleum, and paints, is expected to fuel market growth in the region.

Moreover, the increasing focus on sustainable packaging solutions and the growing awareness of the benefits of steel drums over plastic drums and intermediate bulk containers (IBCs) is expected to further drive market growth in the Asia Pacific region. Additionally, the expansion of e-commerce and logistics industries in the region is expected to create new opportunities for market growth, as steel drums are widely used in the transportation and storage of goods. With these growth drivers in place, the Asia Pacific region is poised to emerge as a major market for steel drums in the coming years.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In June 2021, Mauser Packaging Solutions, a global leader in industrial packaging, announced that it has launched a new line of stainless steel drums for the chemical and pharmaceutical industries. The new drums are designed to meet the strict regulatory requirements of these industries and offer superior durability, cleanliness, and corrosion resistance.
• In March 2021, Schutz Container Systems, a leading provider of industrial packaging solutions, announced that it has introduced a new range of steel drums with a self-closing lid. The new drums are designed to improve safety and efficiency in the workplace by eliminating the need for a separate lid and reducing the risk of spills and leaks.
• In January 2021, Enviro-Pak, a leading provider of sustainable packaging solutions, announced that it has developed a new line of steel drums made from 100% recycled materials. The new drums offer the same durability and strength as traditional steel drums while reducing their environmental impact and promoting a circular economy.

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/steel-drum-market

FREQUENTLY ASKED QUESTIONS

• What is steel drum?
• At what CAGR, the global steel drum will expand during forecast years?
• What will be the market value of global steel drum market by the end of 2030?
• What are the factors driving the global steel drum market growth?
• Which region will contribute notably towards the steel drum market value?
• Who are the leading players in global steel drum market?

Browse Other Related Research Reports from Zion Market Research:

Sintered Steel Market: Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2020-2026: https://www.zionmarketresearch.com/report/sintered-steel-market

US Steel Grating Market: Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2022-2028: https://www.zionmarketresearch.com/report/us-steel-grating-market

Mining Drilling Services Market: Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2022-2028: https://www.zionmarketresearch.com/report/mining-drilling-services-market

Cigarette Vending Machine Market: Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2022-2028: https://www.zionmarketresearch.com/report/cigarette-vending-machine-market

Cable Glands Market: Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2022-2028: https://www.zionmarketresearch.com/report/cable-glands-market

Wet Vacuum Cleaner Market: Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2022-2028: https://www.zionmarketresearch.com/report/wet-vacuum-cleaner-market

Functional Coil Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2020-2026: https://www.zionmarketresearch.com/report/functional-coil-coatings-market

Labeling Equipment Market: Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2020-2026: https://www.zionmarketresearch.com/report/labeling-equipment-market

Retail Logistics Market: Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2020-2026: https://www.zionmarketresearch.com/report/retail-logistics-market

Chemical Anchors Market: Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2020-2026: https://www.zionmarketresearch.com/report/chemical-anchors-market

About Zion Market Research:

Zion Market Research is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Zion Market Research are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.

Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Follow Us on LinkedIn: https://www.linkedin.com/company/zion-market-research/

Follow Us on Twitter: https://twitter.com/zion_research

Follow Us on Facebook: https://www.facebook.com/zionmarketresearch

Follow Us on Pinterest: https://www.pinterest.com/zionmarketresearch/

Follow Us on YouTube: https://youtu.be/Y0Yfi7N8zSs

Contact Us:

Rushikesh Dorge

USA: +1 347 690-0211

United Kingdom: +44 2032 894158

Japan: +81 50 5806 9039

India: +91 7768 006 007

Web: https://www.zionmarketresearch.com/

Blog: https://zmrblog.com/

Still, Looking for More Information? OR Want Data for Inclusion in Magazine, Case Study, or Media?

Email Directly Here with Detail Information: sales@zionmarketresearch.com