FiFiber packaging drums are very competent and form a cost-effective option for the temporary storage and transportation of commodities. Moreover, fiber drums act as a perfect substitute to plastic drums and steel drums.

Segmental Analysis

The global fiber drum industry has been segmented based on capacity, closure type, end-use industry. This growth can also be credited to the augmented use of fiber drums comprised under this segment in the food & beverage industry. By the end-use industry, the global Fiber Drum Industry is divided as chemical industry, pharmaceuticals, food and beverages, building and construction, and others. The chemical industry is set to observe the highest growth rate in the market and is slated to hold a majority of the share of the global cardboard drums market over the review period.

Regional Analysis

The geographic analysis of the global fiber drum industry has been carried out in four major regions, covering the Asia Pacific, Europe, North America, and the rest of the world (Latin America, the Middle East and Africa). The rising demand for fiber drums in Asia-Pacific can be credited to the presence of emerging economies in the region in nations such as Australia, India, China, and Indonesia and the growing number of fiber drum manufacturing units. Additionally, these countries are some of the world's most significant exporters of packaging materials. Because of the less labor costs and the presence of domestic raw materials, market players prefer to set up manufacturing units for the packaging industry in Asia-Pacific. China led the market in terms of value in 2018, which will continue its presence by 2026. The rapid expansion of the chemical industry in China has further fuelled the demand for fiber drums in the region

Competitive Analysis

The top market players operating in the global Fiber Drum Industry as acknowledged by MRFR are Fibrestar Drums (UK), Greif (US), Schutz Container Systems (US), CL Smith (US), Mauser Group (US)