The demand for industrial drums is substantially rising among several end-use industries, especially chemicals and materials and petroleum lubricants. As a result of this, several industrial packaging companies have either collaborated with or acquired local as well as international plastic packaging manufacturers. These players are focussing on expanding their product range so as to cater to the demands of multiple end-use industries.
There are many infrastructure projects being initiated at the regional level for the integration of regional infrastructure in linking the region’s economy through transportation, energy, and telecommunication projects. Such projects have a good road map for the transportation industry. For instance, India-based Time Technoplast Ltd. entered into a joint venture with Nile Egypt Plastech Industries S.A.E. to expand its business in Middle East & Africa. These ventures are likely to proof fruitful in the coming years.
Chemicals and petroleum to lead by 2027 end
The global industrial drums has been segmented on the basis of end user into food and beverages, chemicals and fertilisers, pharmaceuticals, petroleum and lubricants, building and construction, and paints, inks, and dyes, among others. The chemical and fertilisers industry is expected to emerge as the largest end user of industrial drums by the end of 2027 and is likely to account for a share of over 47% in the market in the same year.
Industrial Drums Market: Global Industry Analysis (2012 - 2016) & Opportunity Assessment (2017 - 2027)Buy Now
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