A range of items, including food and aromatic goods, colors and thinners, adherents and rolling sheets, and different hazardous chemicals, are stored and shipped using fiber drums. Circular portions feature fiber drums with parallel sidewalls constructed of fine paperboard or unbleached winding of Kraft paper. Furthermore, the layers are connected to adhesives that offer the strength to stack and handle. Compared to steel or plastic drums, fiber drums have a superior corrosion resistance since their inner coating is made of paper covered with paper or poly coating. In addition, metal or plastic rings are substituted for fiberboard lids to minimize contamination of the goods. As fiber drums are made up of fiberboard, they are lightweight. Therefore, they reduce shipping expenses. Concerning the business sector, electronics, food & drinks, and the chemical industry, the COVID-19 was negative. The supply chain has consequences in the industrial sector because of government laws, permanent lockouts, temporary closing of industries, and lack of resource crisis at industrial sites.
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COVID-19 Impact Analysis
- Countries had to enforce lockdown that halted the operations in chemical, food & beverages, and other sectors due to the outbreak of the COVID-19 pandemic. The demand for fiber drums decreased as there was no requirement. The fiber drums manufacturing companies witnessed a dip in production as there was unavailability of laborers to continue the production process.
- The disruption in the distribution channel was the prime cause as adequate raw materials could not reach the industries for production; the delivery of finished products to the procuring companies was not possible. The import of materials from other countries was also banned that created obstacles to production.
Top Impacting Factors
- For mobility and simplicity of handling, fiber barrels may be readily incorporated into sea containers and vehicles. As a lightweight drum, the liquid is easy to carry and store. These reasons boost the need for the market for fiber drums. The major driver of the fiber drum business is 100% recyclable fiber drum. In addition, with the increasing retail sector and intercontinental industries, the demand for fiber drums is increasing.
- The market is adversely affected, as the industrial packaging is not agile. The makers of fiber drums are therefore back in the supply chain. The fiber drums cannot be handled by forklift as it breaks down the drum with its force. These issues can prevent the fiber drum business from growing. This fiber drum is not suitable for transporting some types of liquids as the inner portion of the drums becomes soggy and is prone to leakage.
Market Trends
Growth in demand for lightweight bulk containers
The growing retail sector and rise in desire for lightweight bulk containers are the main drivers impacting the fiber drum industry. Fiber drums have a crucial benefit, they are 100% recyclable. Most fiber drums, for example, can be filled with various coatings or insoluble compounds such as silicone, polythene, or polyester used to transport and storing liquid goods, including adhesives and dyes. Two crucial tests - a drop test and a stack or compression test are conducted to verify the quality of the drum.
Ever-increasing demand from end-use industries
Fiber drums are used in various end uses and applications such as medical, food & beverages, sanitary chemicals, paints, adhesives, and a range of chemicals. New manufacturing technologies facilitate the addition of internal and external liners, which increases their resistance and performance for many new applications. Fiber drums are also available for lighter weight and lower volume products. Both design types can be UN certified for the packaging of dangerous solids. Due to their low cost, fiber drums are used by different end users over other choices.
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Key Benefits of the Report
- This study presents the analytical depiction of the fiber drum industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the fiber drum market share.
- The current market is quantitatively analyzed to highlight the fiber drum market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed fiber drum market analysis on the basis of competitive intensity and how the competition will take shape in coming years
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The global Overpack Drum Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the overpack drum market include The Cary Company, Berlin Packaging, General Container Corp., New Pig Corporation, American Textile & Supply, Inc., Interstate Products Inc., ENPAC, CP Lab Safety, Skolnik Industries, Inc., Peerless Materials Company, Marine Marketing Services , Cardinal Carryor, and Vimal Barrels Pvt.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Overpack Drum Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/overpack-drum-market/download-sampleMarket DynamicsThe persistent development in the manufacturing and industrial sector across the globe is the major factor driving the overpack drum market.
The growing trade of several commodities across the globe, creating the need for efficient and innovative packaging solutions, might create high market demand in the coming years.
The growing retail sector and growing industrial output are anticipated to increase demand for industrial packaging solutions such as overpack drums are positively impacting the overpack drum market’s growth.
