Drum Liner Market size to increase by USD 98.29 million during 2023-2028; Growth of global chemical warehousing and storage market to drive the growth- Technavio

NEW YORK, Nov. 9, 2023 /PRNewswire/ -- The drum liner market size is expected to grow by USD 98.29 million between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of 3.61% during the forecast period. The market is segmented by Material (Flexible and Rigid), End-user (Chemicals and flammables, Adhesives and coatings, Food products, Pharmaceuticals, and Others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa). The growth of chemical warehousing and storage drives the drum liner market. Over 45% of the global chemical warehousing and storage market originates from countries including the US, China, South Korea, Japan, and Saudi Arabia. They registered a total storage capacity of more than 210 million cubic meters. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the drum liner market: Amcor Plc, BASCO Inc., Berry Global Inc., CDF Corp., Dana Poly Inc., DG Air Freight Pvt. Ltd., Dow Chemical Co., FEECO International Inc., Glasnost India, Global Industrial Co., Greif Inc., Guardair Corp., Heritage Packaging, International Plastics Inc., Labelmaster, Primepac Industrial Ltd., Sri Lakshmi Vishnu Plastics, The Cary Co., Winpak Ltd., and Balmer Lawrie and Co. Ltd.
• Drum liner Market is fragmented in nature.
• Market to observe 3.08% YOY growth in 2024.

Market Dynamics:

Trend

• The growing demand for customization is an emerging drum liner market trend.
• Generally, the customization of drum liners in terms of size and design and the type of materials used is generally resorted to by players.
• End-users such as pharmaceutical and chemical industries adopt customized drum liners for convenience in transportation.
• Furthermore, the material and shape of a drum liner are important in deciding the optimization of cargo space, and thus, players are increasingly delivering customized solutions to meet customer requirements. 

Challenge

• The high risk associated with liquid storage and the availability of alternatives challenge the growth of the drum liner market. 
• Traditional drums and barrels operated for liquid storage are more inclined to contamination however, most drum liners are single-wall storage where moisture, dust, and ultraviolet (UV) rays can smoothly enter if left outside.
• This compels the oil to degrade over time and end-users need to arrange separate facilities to store oil and lubricants in the drum liner effectively.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

By material, the flexible segment is estimated to witness significant growth during the forecast period. These drum liners are typically formed of a minimal-density polyethylene LDPE. LDPE is generally time usable and easy to recycle in nature. Furthermore, the chemical industry is the largest customer of this kind of drum liner. Additionally, due to the strong packaging, pharmaceutical, and food sectors, there is a growing demand for chemicals. Get a glance at the market contribution of the segments, Request a Sample Report

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Material

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio