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The drum liner market size is forecast to increase by USD 98.29 million, at a CAGR of 3.61% between 2023 and 2028. Market growth relies on various factors, including the expansion of the global chemical warehousing and storage market, heightened demand for paints and coatings, and increased requirements from the pharmaceutical sector. As the global chemical warehousing and storage market expands, it fuels the need for secure and efficient storage solutions to accommodate the growing inventory of chemicals. Additionally, the rising demand for paints and coatings, driven by infrastructural development and renovation projects worldwide, necessitates adequate storage facilities to meet supply chain demands. Furthermore, the pharmaceutical industry's increasing need for storage space for raw materials, intermediates, and finished products underscores the importance of robust warehousing infrastructure. Together, these factors contribute to the market's growth trajectory, reflecting the interconnectedness of various sectors and their impact on storage and logistics requirements.
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The flexible segment is estimated to witness significant growth during the forecast period. Flexible plastic drum liners are typically formed of a minimal-density polyethylene LDPE, which is generally time usable and easy to recycle in nature. The chemical industry is the largest customer of this kind of drum liner. As a result of the strong packaging, pharmaceutical, and food sectors, there is a growing demand for chemicals.
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The flexible segment was the largest segment and valued at USD 300.00 million in 2018. Drum liners are primarily used by the chemical and fertilizer sector, as they do not react with the contents packed in them. Drum liners are resistant to decay, moisture, corrosion, and infestation, which makes them suitable for packaging fertilizers and chemicals. Therefore, the rising use of drum liners in the chemical and fertilizer sector will drive the flexible drum liner segment. Hence, such application of drum liners will drive the market during the forecast period.
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APAC is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The demand for the segment is expected to come from the pharmaceutical and chemical industry. The growth of many established drug manufacturers in APAC is a significant reason for the growth of pharmaceutical sales in the region. Furthermore, the significant growth of the chemical market is attributed to the expansion of the pharmaceutical, food, and textile industries. These industries require chemicals in their manufacturing or production processes. The growth of the pharmaceutical and chemical industries in APAC is expected to drive the demand for drum liners during the forecast period.
The market is witnessing significant growth driven by various factors such as the use of plastic films like polypropylene and polyester in flexible packaging solutions. This growth is particularly pronounced in emerging economies despite stringent regulations, Domestic and localized that necessitate domestic and localized production. Companies are identifying revenue pockets within this strategic market, leveraging insights from the market. Innovations like flat bottom and elastic drum liners are enhancing the market's appeal, alongside advancements in inks and coatings tailored for different applications, including cosmetic materials. The demand for flexible material options such as elastic drums is also on the rise, meeting diverse needs in industries ranging from cosmetics to industrial packaging. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growth of chemical warehousing and storage is the key factor driving the market. Countries like the US, China, South Korea, Japan, and Saudi Arabia account for more than 45% of the global chemical warehousing and storage market. These countries registered a total storage capacity of more than 210 million cubic meters. APAC is anticipated to be an important contributing region for the global chemical warehousing and storage market.
Furthermore, Europe had more than a 21% share of the global chemical warehousing and storage market due to the rising chemical sales in countries such as Denmark, France, Italy, and the Netherlands. The growth of the global chemical warehousing and storage market is anticipated to drive the demand for drum liners, as most of the chemicals are stored in drums or barrels which will drive the growth of the market during the forecast period.
Growing demand for customization is the primary trend shaping market. The enlargement in competition among drum liner players is encouraging them to adopt customization to cater to end-user requirements and expand their market existence. Therefore, customization of drum liners in terms of size and design and the type of materials used is generally resorted to by players.
In addition, end-users such as pharmaceutical and chemical industries are adopting customized drum liners for convenience in transportation. The material and shape of a drum liner are important in deciding the optimization of cargo space. Hence, players are increasingly delivering customized solutions to meet customer requirements, which is expected to propel the growth of the market during the market forecasting period.
The high risk associated with liquid storage and the availability of alternatives is a challenge that affects market. Traditional drums and barrels operated for liquid storage are more inclined to contamination. Most drum liners are single-wall storage where moisture, dust, and ultraviolet (UV) rays can smoothly enter if left outside, compelling the oil to degrade over time. End-users need to arrange separate facilities to store oil and lubricants in the drum liner effectively.
Moreover, oil drum liners are stacked one over the other, and these are stored above the ground level to avoid any contamination. Hence, such risks and investments associated with drums may encourage end-users to invest in alternative storage such as IBCs, and thereby limit the growth of the global drum liner market during the market forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is experiencing robust growth, driven by innovations and diverse applications across various industries. Key players like Data Bridge Market provide critical insights into market dynamics, influencing decisions around packaging type, including polyvinylchloride and shrink liners. Manufacturers are focusing on enhancing functionality with options like round bottom liners, Shrink liner, end user businesses catering to specific needs in sectors such as pharmaceuticals and beyond. The polyethylene segment dominates, offering durability in both steel drums and the rigid segment with semirigid variations to meet versatile packaging requirements.
Economic factors such as disposable income and purchasing power drive demand for convenient solutions like carry bags, preferred by multinational packaging and retail giants such as supermarkets and hypermarkets. End-user businesses, particularly in pharmaceuticals and cosmetics, rely on collaborations to develop tailored solutions, including eco-friendly liners to align with sustainability goals. This market's evolution highlights the importance of adapting to environmental regulations while meeting industry-specific needs through continuous innovation and strategic partnerships.
Industry Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.61% |
Market growth 2024-2028 |
USD 98.29 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.08 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 33% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amcor Plc, BASCO Inc., Berry Global Inc., CDF Corp., Dana Poly Inc., DG Air Freight Pvt. Ltd., Dow Chemical Co., FEECO International Inc., Glasnost India, Global Industrial Co., Greif Inc., Guardair Corp., Heritage Packaging, International Plastics Inc., Labelmaster, Primepac Industrial Ltd., Sri Lakshmi Vishnu Plastics, The Cary Co., Winpak Ltd., and Balmer Lawrie and Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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