Metal Barrels Market Size, Share, Trends, Demand, Growth 2032

Metal Barrels Industry Prospective:

The global metal barrels market size was worth around USD 12.58 billion in 2023 and is predicted to grow to around USD 20.55 billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.60% between 2024 and 2032.          

Request Free Sample

Metal Barrels Market: Overview

A barrel (sometimes known as a drum) is a cylindrical transportation container used to transport bulk items. Barrels can be built of steel, thick paperboard (also known as a fiber drum), or plastic and are often used to transport and store liquids and powders. Drums are frequently stackable and feature dimensions that allow for effective storage and logistics use. This style of packaging is usually authorized to carry hazardous materials.

For proper transportation, the drum must comply with all applicable standards. The metal barrel market is being driven by several factors including the growing chemical industry, technological advancement, increasing usage as a logistical purpose, favorable properties of the metal barrel, rising construction industry, growing demand from the oil & gas industry and many others.

Key Insights

• As per the analysis shared by our research analyst, the global Metal Barrels market is estimated to grow annually at a CAGR of around 5.60% over the forecast period (2024-2032).
• In terms of revenue, the global Metal Barrels market size was valued at around USD 12.58 billion in 2023 and is projected to reach USD 20.55 billion, by 2032.
• The growing demand for metal barrels from several industries including oil & gas, chemical, food & beverage and others is expected to drive market growth during the forecast period.
• Based on the capacity, the 20-gallon to 30-gallon segment is expected to hold a substantial market share over the forecast period.
• Based on the material, the Stainless Steel segment is expected to lead the Metal Barrels industry during the forecast period.
• Based on the industry vertical, the Food and Beverage segment is expected to dominate the market during the forecast period.
• Based on region, the Asia Pacific is expected to hold a prominent market share over the forecast period.

Request Free Sample

Metal Barrels Market: Growth Drivers

Numerous advantages of metal barrels drive market growth

The numerous advantages of metal barrels including long-lasting and reliable storage options, easy to clean and maintain, reusable and others are expected to propel the metal barrels market over the forecast period. Steel drums, often known as metal barrels, are sturdy and durable. Most importantly, metal barrels are extremely good in preventing harm or contamination of the materials stored within. Steel barrels are an excellent method to store a wide range of materials, including drugs and hazardous trash. Steel barrels, which remain a popular choice in the food and beverage supply chain, are also a long-lasting solution for storing food goods.

Food may be protected and kept fresh in steel barrels, especially when paired with drum liners. Before keeping food, be sure the steel barrel is "food grade" certified and has not previously been used to house potentially harmful substances. Additionally, Steel barrels are ideal for storing stuff since they are easy to clean and utilize. In actuality, with regular maintenance and cleaning, a steel drum may survive for decades. Thus, this is expected to drive the industry growth.

Metal Barrels Market: Restraints

High cost hinders market growth

When compared to other packing materials like plastic or fiber drums, metal barrels—especially those composed of steel—can be more costly. Some firms, particularly smaller ones, may be discouraged from using metal barrels due to their greater initial investment cost, especially when it comes to non-hazardous or non-sensitive goods. Therefore, the high cost of metal barrels is expected to hamper the market growth.

Metal Barrels Market: Opportunities

Recycling of barrels offers an attractive opportunity for market growth

The recycling of storage containers like barrels and drums is on the rise. Additionally, barrel-end consumers want sustainable packaging. This is owing to shifting trends among storage drum and barrel end customers, who desire sustainable and ecologically friendly industrial packaging.

Furthermore, to enhance market penetration, warehouse drum and barrel manufacturers are urged to employ sustainable materials in the production of storage drums and barrels. As a consequence, these factors will propel the barrels market throughout the forecast period.

Metal Barrels Market: Challenges

Competition from alternatives poses a major challenge to market expansion

Alternative packaging materials including plastic, fiber, and composite drums, which have benefits like smaller weight, reduced cost, and compatibility with particular materials or applications, are competitors in the metal barrel industry. These substitute options may be chosen by manufacturers and end users depending on criteria including affordability, practicality, and particular performance needs.

Metal Barrels Market: Segmentation

The global Metal Barrels industry is segmented based on Capacity, Material, Industry Vertical and region.

Based on the capacity, the global Metal Barrels market is bifurcated into 20-gallon to 30-gallon, 10-gallon to 20-gallon, 50-gallon to 70-gallon and 30-gallon to 50-gallon. The 20-gallon to 30-gallon segment is expected to hold a substantial market share over the forecast period. A wide range of sectors, including chemicals, petroleum, lubricants, food and beverage, medicines, and agriculture, use metal barrels with capacities between 20 and 30 gallons. Users may store and move a variety of liquids, powders, and granular materials using these barrels.

Based on the material, the global Metal Barrels industry is segmented into Cold-rolled Steel, Stainless Steel, Hot Rolled Steel and Galvanized Iron. The Stainless Steel segment is expected to lead the Metal Barrels industry during the forecast period. Stainless steel is recognized for its outstanding durability and resistance to corrosion, making it an ideal material for the transportation of various liquids. Thus, the aforementioned properties drive the segment expansion.

Based on the industry vertical, the global Metal Barrels market is segmented into Healthcare and Pharmaceutical, Food and Beverage, Oils and Lubricants, Chemicals and Solvents and Building and Construction. The Food and Beverage segment is expected to dominate the market during the forecast period. To maintain food safety and cleanliness, the food and beverage sector must abide by strict laws controlling packaging materials. Because of their non-reactive qualities and capacity to preserve product integrity, metal barrels—especially those composed of stainless steel or food-grade steel—are the recommended choice for carrying and storing a variety of food goods.

Metal Barrels Market: Report Scope

Regional Analysis

The Asia Pacific is expected to hold a prominent market share over the projected period

The Asia Pacific is expected to hold a prominent market share over the forecast period. The market growth in the region is attributed to the growing chemical industry. For instance, according to the data published by Invest India, India is ranked sixth in the world for chemical imports and eleventh for chemical exports, both of which exclude pharmaceutical items. The chemical industry in India employs around two million people. 53.54 lakh tons of major chemicals were produced in 2023–2024 (until August 2023). In addition, the growing construction industry is also a major factor that impels the market growth during the anticipated timeframe.

For instance, the value adds of the construction sector increased by 10.4% year over year (YoY) in Q1 2023, according to the Ministry of Statistics and Program Implementation (MoSPI). This rise was surpassed by 8.3% in Q4 and 5.7% in Q3 2022. The recent slowdown in inflation will also contribute to the industry's development. Thus, the aforementioned statistics drive the metal barrels market in the region.

Metal Barrels Market: Competitive Analysis

The global Metal Barrels market is dominated by players like:

• BWAY Corporation Greif Inc.
• Ardagh Group S.A
• Ball Corporation
• Anheuser-Busch
• ArcelorMitta International
• Baler Corporation
• Kaplan Container Inc.
• Industrial Container Services Inc.
• Schutz Container Systems Inc

The Global Metal Barrels market is segmented as follows:

By Capacity

• 20-gallon to 30-gallon
• 10-gallon to 20-gallon
• 50-gallon to 70-gallon
• 30-gallon to 50-gallon

By Material

• Cold-rolled Steel
• Stainless Steel
• Hot Rolled Steel
• Galvanized Iron

By Industry Vertical

• Healthcare and Pharmaceutical
• Food and Beverage
• Oils and Lubricant
• Chemicals and Solvent
• Building and Construction

By Region

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