The global drum liners market is foreseen to grow at a 4.31% CAGR during the forecast period 2017-2025 to attain a valuation of US$ 179.2 Mn by the end of 2025. In 2017, the market was worth a US$ 127.8 Mn.
We have publicized the release of a fresh new publication that outlines the future scenario and current trends of the global drum liners market. Carrying the title “Global Drum Liners Market Research Report 2018,” the publication guides stakeholders and other interested parties to capitalize on lucrative market opportunities as it provides a qualitative and quantitative analysis of the market. Increasing application of drum liners in various end-use industry verticals such as pharmaceuticals, cosmetics, food and beverages, and industrial chemicals is anticipated to set the tone for robust growth of the market.
Global Drum Liners Market: Drivers and Restraints
The demand for drum liners is foreseen to gain momentum due to the rising requirement of flexible packaging. In addition, the affordable cost of drum liners could attract more consumers in the market.
Drum liners are available in a variety of forms. Thus, the diversity of products is expected to increase the interest of consumers in the global drum liners market.
However, the implementation of stringent regulations related to the use of plastics could loom over the global drum liners market as a threat to its growth. Nonetheless, manufacturers are envisaged to take advantage of the high demand for reusable and environment-friendly plastics.
Global Drum Liners Market: Forecast by Application and Type
The researchers authoring this report have studied key end-use industries that use drum liners: cosmetics and pharmaceuticals, food and beverages, petroleum and lubricants, industrial chemicals, and other industries. Drum liners could gain preference in these industry verticals due to their ability to adjust elasticity.
By type, the global drum liners market is categorized into semi-rigid, rigid, and flexible. The report helps to identify high-growth segments for players to cash in on the rewarding prospects they create in the market.
Global Drum Liners Market: Forecast by Region
Regionally, North America held the lion’s share of 34.1% of the global drum liners market in 2017. However, by the end of 2022, it is predicted to see a decline in its market growth as it collects a reduced share of 32.97%.
On the other hand, Asia Pacific could make it to the forefront of the global drum liners market as it increases its share to a 24.1% by the end of 2022. In 2017, it bagged a share of 21.78%. The boom in China and India’s industrial packaging sector is pushing the economic growth of Asia Pacific.
Besides Asia Pacific, the MEA and South America are forecast to show a promising growth potential. The MEA could witness an increase in the demand for drum liners because of the large-scale production and export of oils and petroleum.
Global Drum Liners Market: Key Players
The global drum liners market marks the presence of prominent manufacturers such as Protective Lining Corp, International Plastics, NITTEL, Fujimori Kogyo, and CDF Corporation.
The report covers all of the above market players apart from other leading ones, viz. SPP Poly Pack, Dana Poly, Welch Fluorocarbon, The Cary Company, ILC Dover, and Vestil Manufacturing. It sheds light on their market share, consumption, production, revenue, and other vital factors that define their growth in the global drum liners market.
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