Fiber Drums Market Trends | COVID-19 Impact

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Regional Analysis

The geographic analysis of the global Fiber Drums Market Trends has been carried out in four major regions, covering the Asia Pacific, Europe, North America, and the rest of the world (Latin America, the Middle East and Africa). The rising demand for fiber drums in Asia-Pacific can be credited to the presence of emerging economies in the region in nations such as Australia, India, China, and Indonesia and the growing number of fiber drum manufacturing units. Additionally, these countries are some of the world's most significant exporters of packaging materials. Because of the less labor costs and the presence of domestic raw materials, market players prefer to set up manufacturing units for the packaging industry in Asia-Pacific. China led the market in terms of value in 2018, which will continue its presence by 2026. The rapid expansion of the chemical industry in China has further fuelled the demand for fiber drums in the region

Segmental Analysis

The global fiberglass drum market has been segmented based on capacity, closure type, end-use industry. The global market for fiber drum is segmented by closure type as plastic closure, metal closure, and fiber/cardboard closure. Owing to the superior strength and durability, the metal closure segment held the maximum market share of the global Fiber Drums Market Trends in the year 2018 and is slated to have the maximum growth during the forecast period. The global Fiber Drums Market Trends is divided by capacity as 26–50 gallons, up to 25 gallons, 51–75 gallons, and above 75 gallons. The 51–75 gallons segment accounted for the largest market share of the global Fiber Drums Market Trends in 2018. This growth can also be credited to the augmented use of fiber drums comprised under this segment in the food & beverage industry.

Competitive Analysis

The top market players operating in the global Fiber Drums Market Trends as acknowledged by MRFR are Fibrestar Drums (UK), Greif (US), Schutz Container Systems (US), CL Smith (US), Mauser Group (US), Industrial Container Services (ICS) (Florida), Sonoco Product (US), TPL Plastech (India), Three Rivers Packaging (US), Orlando Drum & Container (US), Enviro-Pak (US), and Great Western Container (Canada).