“Global IBC & Metal Drums Market, By Capacity (Drums, IBCs), By End-Use (Chemicals, Petroleum & Lubricants, Paints, Inks & Dyes, Food & Beverages, Building & Construction, Healthcare & Pharmaceuticals, Other End-Users), as well as by Region – Global Forecast 2021 to 2030.”, which offers a comprehensive view of the Global IBC and Metal Drums Market through systematic segmentation, covering every aspect of this target market. The 5-year (2020–2025) cumulative revenue of this market is projected to be over $19,624.0 Mn, and is estimated to increase moderately over the latter part of the forecast period.
Intermediate Bulk Containers (IBCs) and metal drums are reusable, multi-use industrial-grade containers engineered for the mass handling, transport, and storage of liquids, semi-solids, pastes, or solids.
IBC & metal drums have several favorable properties such as increased durability, strength, safety, and reliability, due to which they are increasing being utilized by several end-use industries for the effective transportation of various goods and materials. Moreover, the steady growth being experienced by various end-use industries is also expected to have a profound influence on the revenue growth of the Global IBC & Metal Drums Market, as this is expected to lead to an exponential increase in product demand in the years to come. Although these products have been found to be reactive with certain types of substances such as sulfuric acid, nitric acid, etc., several key industry players are now investing in the development of product that have a lower or no reactions with these type of substances. This is expected to compliment the market growth of this sector. Additionally, the gradual increase in trade and other related cross-border activities between various countries and regions, especially in recent years, is also slated to have a significant impact on the Global IBC & Metal Drums Market. These are some of the other elements that are expected to further augment the global market footprint of this sector, and are some of the most crucial factors anticipated to play a critical role in augmenting projected revenues for the Global IBC & Metal Drums Market to $24,123.4 Mn by 2030, at a CAGR of 5.4%.
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