The global industrial pails market is expected to grow at a CAGR of 5.2% over forecast period 2020 to 2027 and to reach value of around US$ 9,585.0 Mn by 2027.
The pail is a technical term used in the transportation or shipping industry. These are basically a type of cylindrical container ranging from 1 to 13 US gal. These containers can have slanted or straight side and usually have bail or handle. These are made up of various materials including steel, tinplate, aluminum, fiber, paperboard, and plastics. These are used for a variety of fluids and flow-able materials.
Rapid industrialization coupled with the increasing import and export activities across the globe is primarily driving the market growth. Increasing usage in industrial sectors including pharmaceutical, construction, and food & beverages is supporting the overall market value. Increasing demand for coatings, paints, and adhesives worldwide and particularly in emerging economies is additionally supporting the market growth. Moreover, growing chemical and pharmaceutical sectors is further projected to propel growth over the forecast period from 2019 to 2026.
On the other hand, fluctuating raw material prices and high initial investment maintenance costs associated with the industrial pails are projected to hamper the growth over the estimated period.
High Density Polyethylene segment is leading the global industrial Pail market with major share
By material type, the high-density polyethylene segment accounted for the major share in 2019. The segment is particularly gaining growth on account of increasing usage across various industrial sectors including chemical, paint & coating, and agriculture. Additionally, the advantages associated with high-density polyethylene such as good low-temperature impact resistance and excellent chemical resistance are further supporting the segmental growth.
The market research study on “Industrial Pails Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global Industrial Pails market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global Industrial Pails market, its material type, capacity, end user, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Industrial Pails market size and volume, and segment markets by material type, capacity, end user, and geography along with the information on companies operating in the market. The Industrial Pails market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
Asia Pacific is anticipated to dominate the global market with fastest growth and major share
Asia Pacific is projected to register the fastest growth along with the major share in terms of market value over the estimated period from 2020 to 2027. The major economies of the region including Japan, China and India are primarily supporting the regional market value. The emerging economies coupled with the increasing disposable income are further supporting the regional market value.
The players profiled in the report include Balmer Lawrie & Co. Ltd, Delta Containers Direct Limited, FDL Packaging Group, Fibrestar Drums Ltd, Grief Inc., Industrial Container Services, Mauser Group B.V., Orora Packaging Australia Pty Ltd, SCHÜTZ GmbH & Co., and Sonoco.
Market By Material Type
Market By Capacity
Market By End User
Market By Geography
Middle East & Africa
As per Acumen Research and Consulting, the market for industrial pails is expected to reach the market value of around US$ 9,585.0 Mn by 2027.
The industrial pails market is expected to grow at a CAGR of around 5.2% from 2020 to 2027.
High density polyethylene segment by material type is leading the industrial pail market.
Rapid industrialization coupled with the increasing import and export activities, increasing usage in industrial sectors including pharmaceutical, construction, and food & beverages, increasing demand for coatings, paints, and adhesives worldwide, and growing chemical and pharmaceutical sectors are some of the prominent factors driving the market value.
Balmer Lawrie & Co. Ltd, Delta Containers Direct Limited, FDL Packaging Group, Fibrestar Drums Ltd, Grief Inc., Industrial Container Services, Mauser Group B.V., Orora Packaging Australia Pty Ltd, SCHÜTZ GmbH & Co., and Sonoco are some of the prominent players in the global market.
Asia pacific is expected to hold the highest market share in the industrial pails market.
Asia Pacific is expected to register fastest growth over the forecast period from 2019 to 2026.