Technavio analysts forecast the global drum liners market to grow at a CAGR of close to 3% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global drum liners market from 2018-2022. (Graphic: Business Wire)
The improving share of coastal areas in global steel production is one of the major trends that will influence the global drum liners market 2018-2022. Drums and barrels are extensively used in a range of end-user industries including petroleum, chemicals, pharmaceuticals, food, along with other solvents and alkalis. With the growing demand for drums and barrels in diverse industry verticals, the global drum storage racks market is recording substantial growth. In addition, the growth of the global chemical industry during the forecast period will drive the demand for drums and barrels. This, in turn, will fuel the growth of the global drum liners market during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the global drum liners market is the growing global paints and coatings market:
Global drum liners market: Growing global paints and coatings market
The global paints and coatings market is growing at an unprecedented rate. Technavio's research analysts predict the market to grow at an impressive CAGR of 6 % during the forecast period. The key factors driving this market include the growing industrial production and residential constructions. This growth of the global paints and coatings market is likely to increase the demand for drum liners as they can help paint manufacturers reuse the drums which is a key step towards sustainable business operations.
According to a senior analyst at Technavio, “Sustainability has become a buzzword in several industries across the world. Sustainability can be implemented right from raw material sourcing to the recovery of the used end-products. Drum liners enable manufacturers to adopt cost-efficient and sustainable practices. Thus, the market is expected to witness significant growth over the forecast period.”
Global drum liners market: Segmentation analysis
The global drum liners market research report provides market segmentation by material type (flexible, and rigid), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas region held the largest share of the market in 2017, accounting for close to 38% share, followed by EMEA and APAC respectively. Although the APAC region held the smallest share of the market in 2017, it is expected to register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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