Global Steel Drums and Intermediate Bulk Container (IBC) Market is Driven by Growing Demand of the Product for Safer Transportation

Steel Drums and Intermediate Bulk Container (IBC) Market - Industry Trends and forecast period of 2021 to 2028.

Steel Drums and Intermediate Bulk Container (IBC) Market was valued at USD 14.06 billion in 2021 and is expected to reach USD 19.92 billion by 2029, registering a CAGR of 4.45% during the forecast period of 2022-2029.

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Market Definition

Steel drums and intermediate bulk container (IBC) are common shipping containers for both industrial and non-industrial goods. They're also designed to transport hazardous chemicals, metals, and liquids in accordance with regulations. Plastic, metal, and alloys could be used to create immediate bulk containers (IBCs). Steel drums and intermediate bulk container (IBC) are predicted to grow in popularity because to considerations such as reusability, adaptability, and protection from environmental threats.

Segment Analysis:

By Capacity (Drums, IBCs), Content (Liquid, Solid and Semi-Solid), End-Use (Chemicals, Petroleum and Lubricants, Paints, Inks and Dyes, Food and Beverages, Building and Construction, Healthcare and Pharmaceuticals, Others)

Scope of the Steel Drums and Intermediate Bulk Container (IBC) Market
On the basis of type, the Steel Drums and Intermediate Bulk Container (IBC) Market is segmented into diagnostic devices and therapeutic devices. In 2019, diagnostic devices are dominating in the market because of strong product portfolio of diagnostic wearable medical devices.
On the basis of site, the Steel Drums and Intermediate Bulk Container (IBC) Market is segmented into headband, handheld, arm & wrist, clip, shoe sensor and others. In 2019, handheld, arm & wrist segment is dominating the market due increased adoption of handheld devices by the geriatric population.
On the basis of device, the Steel Drums and Intermediate Bulk Container (IBC) Market is segmented into wristwatch/wristband, smart clothing, smartwatch, ear wear and others. In 2019, wristband/wristwatches devices are dominating the market owing to increased technological advancement of this segment by key manufacturers of the market.
On the basis of application, the Steel Drums and Intermediate Bulk Container (IBC) Market is segmented into cardiac health, obesity control, diabetes care, fitness monitoring, sleep tracking and others. In 2019, fitness monitoring segment is dominating the market due to increased incidence of chronic diseases.

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Key Market Competitors Covered in the Report

Greif (U.S.).,TPL Plastech Ltd. (India), Balmer Lawrie & Co. Ltd (India)., Time Technoplast Ltd (India)., Sicagen (India)., BWAY Corporation (U.S.), Schütz GmbH & Co. KGaA. (Germany), Eagle Manufacturing Company (U.S.), 3M (U.S), Orora Packaging Australia Pty Ltd (Australia), Industrial Container Services, (U.S.), Chicago Steel Container Corporation (U.S.), U.S. COEXCELL Inc (U.S.), NORTH COAST CONTAINER LLC. (U.S.), Rahway Steel Drum Company (U.S.) and General Steel Drum LLC (U.S)

Research Methodology: Global System Integrator Market for Retail and Consumer Goods

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

The retail segment will dominate the end-use segment of the Steel Drums and Intermediate Bulk Container (IBC) Market
The retail segment will emerge as the dominating segment under end-use with approximately 61.00% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the semiconductors and electronics industry all around the globe will further bolster the growth of this segment.

Regional Analysis

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

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COVID-19 Impact on Steel Drums and Intermediate Bulk Container (IBC) Market
The current coronavirus outbreak impacted the industrial drum industry negatively, owing to the sharp decline in product demand, dropping pricing, and storage constraints. Moreover, COVID-19 will have a detrimental impact on transportation and logistics in 2020. Many plants were shut down in early 2020 to break the virus's chain, affecting the steel drum and intermediate bulk container (IBC) markets. Furthermore, the manufacturing of certain the steel drum and intermediate bulk container (IBC) items has been halted because to the pandemic's prolonged lockdown in important global countries. The industrial drum market has been severely hampered as a result of this.

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