Market players are focusing on the adoption of eco-friendly materials in drum liners to provide enhanced sustainability.
DUBAI, UAE / ACCESSWIRE / December 24, 2020 / Future Market Insights: The global drum liners market will expand at a CAGR of 3.9% during 2020-2030. The market demand is anticipated to increase in response to the growth of the adhesives sector. Due to a slump in demand from end use sectors, expansion in the market is hampered amid COVID-19 outbreak. Besides this, limitations imposed by governments worldwide are aggravating the situation.
"The cost friendly nature of drums and their reusability is projected to contribute towards an optimistic expansion in the drum liners market. Furthermore, the companies are shifting towards flexible packaging solutions owing to their superior solvent resistance and durability." says the FMI report.
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Drum Liners Market - Key Takeaways
- North America will remain the key beneficiary in the global market because of mounting demand from the food & beverage and chemicals & lubricants categories.
- Flexible drum liners will spearhead among other types due to growing demand form chemicals industry.
- The accordian liners category will record higher CAGR during the forecast period.
- Industrial chemicals & lubricants segment will see increased adoption in contrast to other end use categories.
Drum Liners Market - Driving Factors
- Extensive application in several end-use industries due to anti barrier and product contamination properties will boost market growth.
- Growing use of eco-friendly and reusable plastic will generate lucrative prospects for the drum liners market.
- Increasing investments in construction sector particularly in emerging economies is bosting demand in the market.
Drum Liners Market - Constraints
- Availability of alternate bulk packaging solution impedes the extensive uptake of drum liners.
- Fluctuating raw materials cost can impact the overall expansion of the market.
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Anticipated Market Impact by COVID-19 Outbreak
The COVID-19 outbreak has disrupted several industries comprising the market for drum liners. Worldwide bans in transport in majority of nations has limited the requirement for drum liners. Restrictions for the raw materials import has further decelerated production. The market witnessed a negative CAGR of 1.3% in 2020. However, the market will recover reflecting a moderate rate of expansion 2021 ahead. Following the outbreak, growing demand for hygienic & safe garbage disposal & storage will fuel the market expansion.
Competition Landscape
The global market has become highly competitive in nature. Leading players active in the drum liners market include Safe pack Industries Ltd., ILC Dover, Nittel Halle GmbH, Chem-tainer Industries, Inc., LP, Fujimori Kogyo Co., Ltd., International Plastics Inc., Round liner Umweltfreundliche Verpackungen GmbH, International Plastics Inc., CDF Corporation, and Fujimori Kogyo Co., Ltd. Players are focusing on strategies such as mergers & acquisitions, and growing R&D (research and development) investments to improve their product portfolios and extend their footprint.
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About the Study
The study offers readers a comprehensive assessment of the drum liners market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on rum liner type(flexible drum liner and semi-rigid drum liner), design type (straight-sided liners, accordian liners, combination liners and others), end use (industrial chemicals & lubricants, paints, inks & dyes, food & beverages, cosmetics & pharmaceuticals, building & construction and others), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
4. Key Success Factors
4.1. Product Adoption Analysis
4.2. Product USPs / Features
5. Global Drum Liners Market Demand Analysis 2015-2019 and Forecast, 2020-2030
5.1. Historical Market Volume (‘000 Units) Analysis, 2015-2019
5.2. Current and Future Market Volume (‘000 Units) Projections, 2020-2030
5.3. Y-o-Y Growth Trend Analysis
6. Global Drum Liners Market - Pricing Analysis
6.1. Regional Pricing Analysis
6.2. Pricing Break-up
6.3. Global Average Pricing Analysis Benchmark
7. Global Drum Liners Market Demand (Value in US$ Mn) Analysis 2015-2019 and Forecast, 2020-2030
7.1. Historical Market Value (US$ Mn) Analysis, 2015-2019
7.2. Current and Future Market Value (US$ Mn) Projections, 2020-2030
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE: Future Market Insights