Global drum demand to grow 4.6% annually through 2021
Global demand for bulk packaging drums is projected to increase 4.6% annually to $11.0 billion in 2021. Sustained growth in output of chemical products – particularly in fast-growing markets– will boost the demand for drums.
Despite a generally favorable outlook as the global economy continues to expand, prospects for drums will be tempered by competition from larger-capacity IBCs, with fibre drums in particular expected to lose share both to other drum types and to alternative packaging formats. Steel drums will continue to account for the largest share of the global drum market. However, plastic drums will experience the fastest growth through 2021 (Press Release Freedonia, 5 April 2018).
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