Global Steel Drum Market to Grow at a CAGR of 5.75% by 2030

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.

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.

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.

Based on region, 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.

This review is based on a report by Zion Market Research, 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.”- Report at https://www.zionmarketresearch.com/report/steel-drum-market

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.

The global steel drum market is dominated by players such as:

• 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.

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

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

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com