Steel Drums & IBCs Market

The global steel drums & IBCs market is estimated to hit a market value of USD 13,995.9 million in 2023. The market is expected to reach USD 21,735.2 million expanding at a CAGR of 4.5% from 2023 to 2033.

Emerging Trends in Steel Drum and IBC Manufacturing

The steel drum and IBC manufacturers are facing a rapidly changing market as the demand for IBC/drums continues to grow. One of the emerging trends is the focus on sustainability and eco-friendliness. Manufacturers are investing in new technologies and processes that reduce waste and minimize their carbon footprint.

The demand for customized solutions is also increasing, as clients seek containers that meet their specific needs. Companies in the steel drum and IBC industry are responding to these trends by developing innovative solutions that meet the changing needs of their clients.

Opportunities in Steel Drums End Usage

Steel drums are used in a variety of industries, from chemicals and pharmaceuticals to food and beverage. This creates new opportunities for the steel drum industry as companies in these sectors seek high-quality, reliable containers for their products. As a result, steel drum manufacturers are investing in new technologies and processes that allow them to produce containers that meet the specific needs of their clients. The trend towards customized solutions is expected to drive growth in the steel drum industry as companies seek to differentiate themselves in a competitive market.

Growth Drivers for IBC Demand in the Steel Drums Industry

The IBC market is experiencing strong demand as companies seek more efficient and cost-effective solutions for the transportation and storage of liquids and other materials. The steel drums industry is capitalizing on this trend by developing innovative IBC solutions that meet the changing needs of their clients.

Another growth driver is the increasing demand for sustainable and eco-friendly solutions, as companies seek to reduce their carbon footprint and minimize waste. Furthermore, the trend toward automation is upsurging the market, as companies seek more efficient ways to transport and store their products.

Sales Drivers for Steel Drums and IBC Manufacturers

The steel drum and IBC manufacturers are facing increasing competition as new players enter the market. To remain competitive, companies are focusing on sales and marketing strategies that differentiate them from their competitors. One sales driver is the trend toward digitalization, as companies invest in e-commerce, social media, and search engine optimization to reach a wider audience.

Among emerging trends, customers' inclination toward customization has also increased, as companies seek to provide containers that meet the specific needs of their clients. These sales and marketing strategies are expected to be key drivers of growth in the steel drum and IBC industry as companies seek to expand their customer base and increase their sales revenue.

Attribute Details
Steel Drums & IBCs Market Size (2023E) USD 13,995.9.3 million
Projected Steel Drums & IBCs Market Size (2033F) USD 21,735.2 million
Value CAGR (2023 to 2033) 4.5%
Top 5 Companies' Market Share 37%

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Historical (2017 to 2022) and Forecast (2023 to 2033) Market Outlook for Steel Drums & IBCs Market

Future Market Insights predict a comparison and review analysis for the dynamics of the steel drums & IBCs industry, which is principally subjected to an array of industry factors along with a few definite influences regarding the availability of alternatives such as fiber drums as well as the Flexi tanks is further expected to hamper the market growth.

Some new advances that have taken place in the market include the usage of drums which are more reliable and reusable. In June 2022, SCHÜTZ Container Systems expanded its production capacity in North America for the collection and eco-friendly reconditioning of packaging.

The market for the steel drums & IBCs is expected to surge by 50 basis share points (BPS) in H1-2022 (O) against comparison with H1-2021, according to an FMI analysis. However, when comparing the H1-2022 projected and H1-2022 outlook period, a rise in BPS change by 30 BPS has been noticed.

Steel drums & IBCs are expected to hold around 23% of the overall industrial packaging market of USD 70 billion in 2023.

H1 2021 4.5%
H1 2022 Projected 4.7%
H1 2022 Expected 5.0%
BPS Change - H1, 2022 (O) - H1, 2022 (P) (+) 30 ↑
BPS Change - H1, 2022 (O) - H1, 2021 (+) 50 ↑

Steel drums & IBCs have been traditionally consumed for storage and transportation of chemicals, petroleum and lubricants, and food and beverage. 200 Litres steel drums, which is the most extensively availed capacity of steel drums are expected to attain a CAGR of 4.7% during the forecast period 2023 to 2033.

Steel drums and immediate bulk containers (IBCs) are standard shipping containers used to transport industrial and non-industrial produce. They are also built safely to ship hazardous chemicals, metals, and liquids based on requirements. Immediate bulk containers (IBCs) could be molded from plastic, metal, and alloys. The steel drums & IBCs market is expected to flourish in the market due to factors like re-usability, versatility, and safeguarding against environmental hazards.

The key reason for this change in growth rate is due to IBCs and steel drums are considered one of the safest forms of packaging for hazardous goods such as chemicals. Despite these prospects, steel drums and IBC are estimated to have accelerated growth due to their environmentally friendly properties.

How Shift in Material is Responsible for Growth in Demand of IBCs?

The global market for rigid bulk packaging is increasingly witnessing the trend of using composite IBCs. Composite IBCs are intermediate bulk containers (IBCs) made of rigid plastic materials and equipped with outer casings made of metals such as steel or iron.

The global packaging market is characterized by continuous product development specifically aimed at enhancing effectiveness derived from material capabilities. Manufacturers are implementing material changes that result in cost and functional improvements.

The global market for rigid bulk packaging is increasingly shifting towards the use of plastics to produce and supply bulk packaging solutions. Like metal IBCs, composite IBCs are reusable upon reconditioning, and hence, are increasingly being preferred by end consumers.

Growing preference among end consumers for lightweight solutions is resulting in composite IBCs gaining a higher market share in the global market for rigid bulk packaging.

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Ismail Sutaria

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Which Technological Advancement is Shaping the future of the Steel Drums & IBCs Market?

RFID technology has not only benefited manufacturers and suppliers but has also proved to be an effective cost-saving tool for consumers. End consumers are increasingly using steel drums & IBCs to ship products to save costs by eliminating physical counting of inventory by implementing RFID tags to manage and control overall inventory. Effective functionality has encouraged numerous IBC manufacturers to invest in RFID technology to enhance customer service and save overall operational costs.

Country-wise Insights

Countries Expected Market Value (US million) in 2023
United States USD 1,314.9 million
China USD 5,721.4 million
Japan USD 637.8 million
South Korea USD 458.5 million
Germany USD 668.6 million

Rising Demand for Customized and Eco-Friendly Steel Drums & IBCs in the United States

The steel drums & IBCs market in the United States is expected to reach a value of USD 1,314.9 million in 2023. Increasing demand for eco-friendly and sustainable solutions is one of the emerging trends in this region.

The market is also seeing an increase in demand for customized solutions that cater to specific industries, such as food and beverage and pharmaceuticals. In addition, the adoption of automation and new technologies for efficient transportation and storage is also contributing to the growth of the market.

China to Witness Growing Focus on Sustainability and High Demand for IBCs/Drums

The steel drums & IBCs market in China is anticipated to reach a value of USD 5,721.4 million in 2023. One of the key trends in this region is the increasing focus on sustainability and eco-friendliness, with companies investing in new technologies and processes to reduce waste and minimize their carbon footprint.

Another trend is the growing demand for customized solutions that cater to specific industries, such as chemicals and lubricants. The market is also seeing an increase in demand for intermediate bulk containers (IBC), as companies seek more efficient and cost-effective solutions for the transportation and storage of liquids and other materials.

Increasing Demand for Reliable and Customized Steel Drums in Japan

The steel drums & IBCs market in Japan is projected to reach a value of USD 637.8 million in 2023. One of the key trends in this region is the increasing demand for high-quality and reliable containers, especially in the chemical and pharmaceutical industries.

The market is also seeing an increase in demand for customized solutions that cater to specific industries, such as cosmetics and food and beverage. In addition, the adoption of automation and new technologies for efficient transportation and storage is also contributing to the growth of the market.

Manufacturers in South Korea to Witness Rising Demand for Eco-Friendly Steel Drums & IBCs in 2023

The steel drums & IBCs market in South Korea is likely to reach a value of USD 458.5 million in 2023. Increasing demand for eco-friendly and sustainable solutions, with companies investing in new technologies and processes to reduce waste and minimize their carbon footprint, is driving the market.

Another trend is the growing demand for intermediate bulk containers (IBC), as companies seek more efficient and cost-effective solutions for the transportation and storage of liquids and other materials. The market is also seeing an increase in demand for customized solutions that cater to specific industries, such as electronics and automotive.

Increasing Demand for IBCs and New Technologies in Steel Drum & IBCs Market in 2023

The steel drums & IBCs market in Germany is expected to reach a value of USD 668.6 million in 2023. One of the prime trends in this region is the increasing demand for intermediate bulk containers (IBC), as companies seek more efficient and cost-effective solutions for the transportation and storage of liquids and other materials.

The market is also seeing an increase in demand for customized solutions that cater to specific industries, such as chemicals and pharmaceuticals. In addition, the adoption of automation and new technologies for efficient transportation and storage is also contributing to the growth of the market.

How Indian Steel Industry Picking up Pace to compete with the World?

According to the Ministry of Steel, India is the second-largest producer of crude steel in the world in 2019. The country produced almost 111.2 million Tonnes (MT) of steel, marking a year-on-year growth of 1.8% from 2018. The steel industry in the industry is facing cut-throat competition as many North American and European end industries have shifted their businesses from China to India during 2020.

Under the union budget of 2021 to 2022, the government of India has allocated an amount of USD 5.4 million to the ministry of steel. Increasing demand for crude steel is expected to shape the demand for steel drums in the country. Moreover, emerging countries in the Asia Pacific are expected to address the demand for steel drums by surplus production in 2021 to 2022.

Why Food Industry in France is a Chief Driver of IBCs in Europe?

European Flexible Intermediate Bulk Container Association (EFIBCA) represents a consolidation of more than 50 IBC manufacturers in Europe. The organization also declared IBCs as a ‘priority product’ in 2020 to fight the effects of the COVID-19 virus to be used as a mode of transport to move essential healthcare and food items between borders.

Safe food supplies, protective equipment, and other vital supplies were a part of the products transported in IBCs during the pandemic. Agricultural produce is also widely transported in European nations via the means of IBCs. France is a leading food producer in Europe and thus makes use of IBCs the most to transport its products. The growing demand for food and healthcare products in Europe is expected to fuel the demand for IBCs in the region.

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Category-wise Insights

Category By Capacity Type
Leading Segment Name 200 L
Expected Value in USD million (2023) 13,297.2
Category By End Use
Leading Segment Name Chemicals
Expected Value in USD million (2023) 5,675.7

Increasing Demand for 200 L Steel Drums & IBCs in the Chemical Industry Expected to Drive Growth in 2023

The 200 L steel drum segment is expected to dominate the steel drums & IBCs market, with an expected value of USD 13,297.2 million in 2023. This segment is preferred for its high capacity, durability, and cost-effectiveness.

The 200 L steel drums & IBCs are widely used in the storage and transportation of various liquids and solids, including chemicals, food and beverage, and pharmaceuticals. The increasing demand for customized solutions and eco-friendly materials is expected to drive the growth of the 200 L steel drums segment in 2023.

Growing Demand for Steel Drums & IBCs in the Chemical Industry to Propel Market Growth in 2023

The chemicals segment is expected to be the leading end-use segment in the steel drums & IBCs market, with an expected value of USD 5,675.7 million in 2023. Steel drums & IBCs are the preferred choice for the storage and transportation of chemicals due to their durability, resistance to corrosion, and cost-effectiveness.

With the increasing demand for chemicals across industries such as agriculture, pharmaceuticals, and manufacturing, the demand for steel drums & IBCs is also expected to grow in 2023. The trend towards eco-friendly and sustainable solutions is also expected to drive growth in this segment.

Competitive Landscape

The steel drums & IBCs industry is highly fragmented, with several players operating in the market. Some key players in the market include Greif, Inc., Mauser Group, Schutz Container Systems, and Hoover Container Solutions. These companies dominate the market, with a significant presence in both domestic and international markets.

The industry is highly competitive, with companies competing based on product quality, price, and customer service. To stay ahead in the market, companies are increasingly focusing on product innovation and expanding their product portfolio to cater to a wider range of industries.

In recent years, there has been a trend toward consolidation in the industry, with leading players acquiring smaller companies to expand their product portfolios and increase their global reach. This consolidation has resulted in the formation of several large multinational companies, such as Greif, Inc. and Mauser Group.

Apart from mergers and acquisitions, companies are also focusing on strategic collaborations and partnerships to strengthen their market position.

  • In 2019, Schutz Container Systems announced a strategic partnership with Greif, Inc. to expand its product offerings and increase its global presence.
  • In Jan 2022, Greif Inc. had a joint venture with Gulf Refined Packaging (GRP) to diversify 50% of its shares. This is expected to help the company with debt repayment.
  • In November 2020, Hoover Ferguson Group opened up a new art-of-state facility for the chemical tank and tanker truck servicing.

Scope of the Report

Attribute Details
Forecast Period 2023 to 2033
Historical Data Available for 2017 to 2022
Market Analysis USD million for Value
Key Regions Covered North America; Latin America; Europe; Asia Pacific; South Asia; East Asia; Oceania; and the Middle East & Africa
Key Countries Covered United States, Brazil, Mexico, Germany, United Kingdom, China, India, Japan, Australia, and GCC Countries
Key Segments Covered Capacity, End Use, and Region
Key Companies Profiled Greif Inc.; Hoover Ferguson Group; Snyder Industries, Inc.; SCHÜTZ GmbH & Co. KGaA; Mauser Packaging Solutions; Thielmann US LLC; Time Technoplast Ltd.; Custom Metalcraft, Inc.; Automationstechnik GmbH; Transtainer; Hawman Container Services; Schafer Werke Gmbh; Obal Centrum s.r.o.; Sicagen India Limited; Balmer Lawrie & Co. Limited; Industrial Container Services, Inc.; Myers Container, LLC.; Orlando Drum & Container Corporation; Great Western Containers Inc.; Meyer Steel Drum, Inc.; Peninsula Drums CC
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing Available upon Request

Steel Drums & IBCs Market by Category

By Capacity Type:

  • Steel Drums
    • 200 Litre
    • More than 200 Litre
  • IBCs
    • Up to 500 Litre
    • 501-1,000 Litre
    • 1,001-1,500 Litre
    • Above 1,500 Litre

By End Use:

  • Chemicals
  • Petroleum & Lubricants
  • Paints, Inks, & Dyes
  • Food & Beverage
  • Building & Construction
  • Healthcare & Pharmaceuticals
  • Others (Agriculture, etc.)

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • The Middle East and Africa (MEA)

Frequently Asked Questions

What is the Present Market Value of Steel Drums & IBCs Available around the World?

The global steel drums & IBCs market might create a value up to USD 13,995.9 million in 2023.

What will be the Growth Rate for the Sales of Steel Drums & IBCs in the Coming Days?

The global adoption of steel drums & IBCs is forecasted to surge at 4.5% CAGR through 2033.

What is the Key Trend Driving the Demand for Steel Drums & IBCs in Recent Years?

Use of RFID technology has boosted the demand for steel drums & IBCs in recent years.

What is the Performance of the Steel Drums & IBCs Market in the United Sates?

The United States is expected to retain its dominance with USD 1,314.9 million revenue in 2023.

Which is the Leading Segment in the Market, Based on Capacity?

The 200 L steel drum segment leads with an expected more than 90% global market share.

Table of Content
	1. Executive Summary
	2. Market Overview
	3. Market Background
	4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
	5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity Type
		5.1. Steel Drums
			5.1.1. 200 Litre
			5.1.2. More than 200 Litre
		5.2. IBCs
			5.2.1. Up to 500 Litre
			5.2.2. 501-1,000 Litre
			5.2.3. 1,001-1,500 Litre
			5.2.4. Above 1,500 Litre
	6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use
		6.1. Chemicals
		6.2. Petroleum & Lubricants
		6.3. Paints, Inks & Dyes
		6.4. Food & Beverage
		6.5. Building & Construction
		6.6. Other End Uses
	7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
		7.1. North America
		7.2. Latin America
		7.3. Europe
		7.4. Asia Pacific
		7.5. MEA
	8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	13. Key Countries Market Analysis
	14. Market Structure Analysis
	15. Competition Analysis
		15.1. Greif Inc.
		15.2. Hoover Ferguson Group
		15.3. Snyder Industries, Inc.
		15.4. SCHÜTZ GmbH & Co. KGaA
		15.5. Mauser Packaging Solutions
		15.6. Thielmann US LLC
		15.7. Time Technoplast Ltd.
		15.8. Custom Metalcraft, Inc.
		15.9. Automationstechnik GmbH
		15.10. Transtainer
		15.11. Hawman Container Services
		15.12. Schafer Werke Gmbh
		15.13. Obal Centrum s.r.o.
		15.14. Sicagen India Limited
		15.15. Balmer Lawrie & Co. Limited
		15.16. Industrial Container Services, Inc.
		15.17. Myers Container, LLC.
		15.18. Orlando Drum & Container Corporation
		15.19. Great Western Containers Inc.
		15.20. Meyer Steel Drum, Inc.
	16. Assumptions & Acronyms Used
	17. Research Methodology
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