Global IBC & Metal Drums Market By Capacity (Drums, 200 Liters, Other than 200 Liters, IBCs, Up to 500 Liters, 501-1000 Liters, 1001-1500 Liters, Above 1500 Liters), By End-Use (Chemicals, Food & Beverages and Others) and By Region - Global Forecast 2030

“Global IBC & Metal Drums Market” is the title of a recently published market report compiled by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global IBC & metal drums market has been segmented on the basis of capacity, end-use, as well as regions and countries.

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The Global IBC & Metal Drums Market was valued at UЅD $15,526.4 Мn in 2020, and is projected to achieve a valuation of UЅD $24,123.4 Мn by 2030, at a САGR of 5.4%.

Overview:

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.

Dynamics:

Owing to the numerous favorable properties of IBS and metal drums such as outstanding strength, durability, reliability and safety, these products are increasingly being used by various end-user industries to transport goods irrespective of the climatic conditions. This is a major factor that is anticipated to continue to fuel the revenue growth of the global IBC & metal drums market in the foreseeable future. Moreover, due to the eco-friendly nature of these products, they are increasingly being adopted by various industries for the purposes of mass goods storage. This factor is also slated to further contribute to more opportunities for market growth in the coming years.

Furthermore, as a result of various governing regulations concerning the storage and transportation of goods, both domestically and across borders, these products have been found to be efficient and effective logistic solutions. This is also a factor that is expected to compliment the revenue growth of the global IBC & metal drums market in the near future.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global IBC & metal drums market is no different, and this factor is anticipated to have a negative impact on the revenue growth of this industry. Additionally, certain substances such as nitric acid, sulfuric acid, etc., tend to react with metal, and as such, cannot be utilized for transportation purposes. This is another factor that may impede on the revenue growth of the global IBC & metal drums market.

Nonetheless, the steady increase in trade volumes between various countries and regions is a major factor that is expected to drastically increase the demand for these products, and is thereby anticipated to continue to boost the revenue growth of the global IBC & metal drums market over the next decade.

Segmentation of the Global IBC & Metal Drums Market is as follows:

In terms of capacity, the drums segment accounted for the maximum number of revenue shares of the global IBC & metal drums market in 2020, and is expected to continue doing so over the forecast period. However, the IBCs segment is anticipated to index the highest CAGR over the next 10 years.

With regards to end-use, the chemicals segment accounted for the highest number of revenue shares of the global IBC & metal drums market in 2020, and is anticipated to continue to do so over the next decade. The petroleum & lubricants segment is also indicative of registering a high CAGR over the forecast period.

Regional Segmentation and Analysis:

The markets in the Asia Pacific region accounted for the maximum number of revenue shares of the global IBC & metal drums market in 2020, and is indicative of remaining this industry’s front-runner over the next decade. The markets in North America and Europe accounted for the second-, and third-most number of revenue shares in 2020, and are expected to retain their respective market positions over the course of the forecast period.

Segmentation of the Global IBC & Metal Drums Market:

Segmentation by Capacity:

• Drums
• 200 Liters
• Other than 200 Liters
• IBCs
• Up to 500 Liters
• 501-1000 Liters
• 1001-1500 Liters
• Above 1500 Liters

Segmentation by End-Use:

• Chemicals
• Petroleum & Lubricants
• Paints, Inks & Dyes
• Food & Beverages
• Building & Construction
• Healthcare & Pharmaceuticals
• Other End-Users

Segmentation by Regions:

• North America
• Europe
• APAC
• Latin America
• MEA