The global market for the HDPE drum is anticipated to grow at a significant CAGR during the forecast period. HDPE drums improve operational efficiency and effectiveness while moving large amounts of liquid commodities. Chemicals, wines, fruit juices, and other non-hazardous goods are shipped in HDPE drums, which are cost-effective transport packing solutions. The use of HDPE drums in the packaging business is growing, with packaging companies focused on recycling, downgauging, pack size optimization, and safety. Many firms and companies rely on HDPE drums for all of these aspects to properly manage sustainability programmes. According to the Industrial HDPE Drum Institute, HDPE drums transport roughly 50 million metric tonnes of material safely every year.
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The global HDPE drum market is growing due to its qualities like reduced weight, which reduces transportation costs; corrosion resistance, and recyclability, fibre drums are becoming more popular in the retail sector. According to the National Retail Federation, the cost of returning retail items in the US was $428 billion in 2020. Furthermore, rigid industrial packaging has grown in popularity since it protects a wide range of sensitive products by avoiding spills and leakage. According to the BBC, rigid packaging bioplastic production capacity will reach 2239 thousand metric tonnes in 2023. ?Some of the key players in the market include Freescale Semiconductor, Micron Technology, Cirrus Logic, Fairchild Semiconductor, Maxim, Integrated Silicon Solution.
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Market Coverage :
- The market number available for – 2020-2027
- The base year – 2020
- The forecast period is from 2021 to 2027
- Segment Covered-
o By Application
o By Type
- Regions Covered
o North America
o Europe
o Asia-Pacific
o Rest of the Word
- Competitive Landscape: Freescale Semiconductor, Micron Technology, Cirrus Logic, Fairchild Semiconductor, Maxim, Integrated Silicon Solution.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global HDPE Drums Market by Segments
By Types
- 25L
- 50L
- 100L
- 150L
- 200L
By Applications
- Chemicals
- Food Ingredients
- Solvent
- Pharmaceuticals
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