Steel Salvage Drums Market to Witness Decline in Demand By 2028

In recent years, industrial packaging have seen significant rise in demand due to technological advancement in industrial applications like petroleum, chemicals, etc. One such type of industrial packaging can be done by steel salvage drums. Steel salvage drums are designed for storing hazardous substances or products that can be leaked, or damaged while transit. According to U.S. Department of Transportation (DOT), steel salvage drums are high quality drums which are sturdy and tough while handling and shipping. Furthermore, steel salvage drums perform surprisingly well in a broad range of temperatures, humidity, and pressure. Steel salvage drums can be found with several head types like tight head and open head. Tight head steel salvage drums are used for storing low viscous fluids and open head drums for hazardous solid and liquids.

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Global Steel Salvage Drums Market – Dynamics

Steel salvage drums manufacturers are looking for cost effective packaging solutions for overcoming the challenges related to bulk packaging. Hence, many industrial packaging manufacturers are focusing on creating innovative packaging solutions like steel salvage drums to satisfy up-coming demands from end use industries.Industries are nowadays preferring steel salvage drums above its counterparts owing to their high mechanical strength, and when effectively emptied steel salvage drums can be reused many times. In addition, steel salvage drums remain the perfect storage option as they can provide better sanitation that plastic drums cannot, and are considerably eco-friendly. Furthermore, rising demand for lubricants and paints & dyes are creating new opportunities for the steel salvage drums manufacturers across the globe.Moreover, rising raw material cost of steel are expect to hamper the market for steel salvage drums during the forecast period 2018-2028.

Global Steel Salvage Drums Market – Segmentation

The global steel salvage drums market is segmented by product type, closure type, capacity, head type, and end use industry. The pricing for steel salvage drums has being done based on product type segment in US$ million, and the volume is considered in units.

On the basis of product type, the global steel salvage drums market is segmented into –

  • Stainless steel
  • Galvanized iron drums
  • Cold rolled steel
  • Hot rolled steel
  • Carbon steel

On the basis of closure type, the global steel salvage drums market is segmented into –

  • Bolt Ring
  • Leverlock Ring
  • Screw Top

On the basis of capacity, the global steel salvage drums market is segmented into –

  • Less than 10 gallons
  • 10 gallons to 40 gallons
  • 40 gallons to 70 gallons
  • 70 gallons to 100 gallons
  • 100 gallons & above

On the basis of head type, the global steel salvage drums market is segmented into –

  • Open head
  • Tight head

On the basis of end use industry, the global steel salvage drums market is segmented into –

  • Food & Beverages
  • Paints, Inks & Dyes
  • Chemical & Pharmaceutical
  • Agriculture and Horticulture
  • Building & Construction
  • Petroleum & Lubricants
  • Other End Use

Steel salvage drums is mainly used for petroleum & lubricants and chemical & pharmaceutical.

Global Steel Salvage Drums Market – Regional Overview

U.S. market in North America is expected to lead the global steel salvage drums market during the forecast period. China and India in Asia Pacific region are expected to witness noteworthy growth for steel salvage drums market. Furthermore, oil exporters in Asia Pacific regions are preferring steel salvage drums for avoiding leakage. Moreover, Europe being a mature market, is expected to be witnessed sluggish growth for steel salvage drums market in U.K., Germany and France during the forecast period 2018 – 2028.

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Global Steel Salvage Drums Market – Key Players

A few of the key players in the steel salvage drums market are Skolnik Industries, Inc., Greif, Inc., Quitman O’Neill Packaging Limited, General Steel Drum LLC, Balmer Lawrie & Co. Ltd., Complete Environmental Products, Inc (CEP), Denios AG, Mauser Group B.V., Metal Drum Company Limited, Clouds Drums Dubai LLC, James G Carrick & Co Ltd, Izvar Ambalaj Sanayi VE Ticaret AS, Schutz Container Systems, Inc., Rahway Steel Drum Co Inc., etc.

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