Industrial Pails Emerged as the Foundation of Safe and Efficient Bulk Product Transport across Chemical, Pharmaceutical, and Other Key Industries. Read in FMI's Survey Why the Chemical Sector is Constantly Looking for Innovative yet Robust Industrial Pails for Shipping and Transportation.
NEWARK, DE / ACCESSWIRE / August 1, 2024 / The industrial pail market is projected to reach a value of around USD 1.8 billion by 2034, registering a CAGR of 1.90%, indicating significant growth potential.
The industrial pail market is primarily driven by the pharmaceutical and chemical industries, which demand lightweight, cost-effective packaging solutions. The increasing use of industrial pails for bulk liquid handling is expected to provide new opportunities for producers.
The demand for coatings, paints, and adhesives is also increasing worldwide. Other sectors that use industrial pails include food and beverage, mining, and construction. However, the cost aspect is the biggest constraint, as fluctuating raw material costs may hinder the manufacturing process and reduce their penetration rate in industrial applications.
Market participants are focusing on obtaining a constant supply of raw materials at cost-effective pricing agreements to achieve profitability in trading industrial pails. Manufacturers focus on sustainable packaging solutions with high safety standards and customizable options. Open-head industrial pails offer secure closure, convenience, and customization, providing branding and labeling options.
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North America's market is dominated by the United States' chemical, pharmaceutical, food, and beverage industries, while Europe's market is established in Germany, France, and the United Kingdom. Asia Pacific is expanding due to rapid industrialization, growing manufacturing zones, and a growing middle-class population, with China and India driving expansion in the chemical, construction, and automobile industries.
Industrial pails are used by various end-use industries such as chemicals, agriculture, food & beverage, oil & lubricants, and building & construction. Increasing demand for safe, durable, and secure bulk packaging would augment sales of industrial pails in the above-mentioned end-use industries. Need to protect chemicals from the external environment is projected to propel the demand for industrial pails as they secure the content from external factors, as well as help in reducing spillage of content during transportation
High Demand for Sustainable Bulk Packaging Solutions
The packaging sector constantly develops new packaging solutions that are more efficient than conventional alternatives. Safe packaging options, particularly those made for the transportation of high-value commodities, have seen a surge in terms of demand in recent years. Industrial pails are one of the ideal examples of secure bulk packaging solutions created for the safe packing of hazardous chemicals that may be used for a variety of purposes.
For both liquid and granulated/powdered product forms, industrial pails are utilized. For the safe conveyance of large quantities of goods, manufacturers and exporters prefer quality industrial packaging for their high-value products. In order to prevent product waste and maintain the surface of the transport vehicle or ship, shipping and logistics partners also choose spill-proof packaging
"The chemical industry's growth is expected to significantly impact the industrial pail market. Chemical firms seek cost-effective, lightweight, and robust packaging solutions for bulk liquids, thereby increasing the demand for industrial pails.," says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways of the Industrial Pail Market
The United States industrial pail market experienced a CAGR of 0.6% through 2034 due to increasing demand in the chemical, pharmaceutical, and food sectors.
Germany's market is characterized by quality-driven products, with a 0.5% CAGR through 2034. The country's robust production sector, focus on sustainability, and demand for eco-friendly packaging options contribute to market growth.
Spain's industrial pail industry growth is boosted by exports and enhancing its eCommerce impact, with a 2.4% CAGR through 2034.
India's rapid industrialization, infrastructure development, and increased manufacturing activities contribute to market growth, with a CAGR of 5.1% from 2024 to 2034.
China's urbanization significantly boosts the market, with a CAGR of 4.2% through 2034.
Competitive Landscape in the Industrial Pail Market
The industrial pail market is fueled by the increasing demand for lightweight, cost-effective packaging in various sectors like bulk liquid handling, coatings, paints, and adhesives. However, high raw material costs hinder production and reduce their penetration in industrialized applications. Companies are focusing on constant supply at cost-effective pricing to achieve profitability. Long-term strategies include product announcements, enhancements, mergers, and cooperative associations.
Latest Development in the Industrial Pail Market
In 2022, Mauser Packaging Solutions expanded its Infinity Series by investing in machinery and software to promote the circular economy, including a new multilayer plastic drum machine.
Key Companies
Mauser Packaging Solutions
Berry Global Group
CL Smith
Schoeller Allibert Services B.V.
Alpla Werke Alwin Lehner GmbH & Co KG
Vestil Manufacturing Corporation
IPL, Inc.
P. Wilkinson Containers Ltd.
Engel Group
Time Technoplast Ltd.
ParekhPlast India Limited
Great Western Containers Inc.
M&M Industries
SAPIN K.S.A.
Polyethylene Containers, Inc.
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Key Segments
By Material:
Plastic
Metal
By Capacity:
Less than 1 Gal
1-3 Gal
4-6 Gal
7-10 Gal
Above 10 Gal
By End Use:
Chemicals
Agriculture
Food & Beverage
Building & Construction
Oil & Lubricants
Automotive
Others (Mining, etc.)
By Region:
North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa (MEA)
Oceania
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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