A cylindrical container made from metal or plastic, pail, is generally used in almost every industrial sector around the world for storage or material handling purpose. Industrial pails have either slanted or straight sided with a handle/bail and lid. Based on quantity of material handling, industrial pails are available in several sizes. Depending upon area of industrial sector, end users prefer industrial pails based on compatibility of material such as steel, plastic or other metal among others. Several industrial pail manufacturers are focusing on cost effective approach to provide enhanced packaging solutions pertaining to drawbacks such as damage and spillage.
According to case study by Future Market Insights, the global industrial pails market is estimated to be valued at US$ 9,300 million by the end of forecast period. The market is expected to register a CAGR of 4.6% during the forecast period 2017 – 2026. An analysts associated with the market researcher has answered some of the key queries regarding the expansion of the global industrial pails market, and has revealed valuable insights as follows:
According to you, what are the dynamics factors to drive demand for industrial pails across the globe?
A major driving factor for the rapid growth of industrial pails market is growing pharmaceutical and chemical industries. Increasing demand for light weight and cost effective packaging solutions in these industries is expected to surge demand for industrial pails. Increasing application of industrial pails for liquid handling in bulk is highly likely to create potential opportunities for industrial pails manufacturers. Increasing demand for coatings, paints and adhesives owing to growing global demand is another factor to influence demand for industrial pails in the near future. Other areas of application of industrial pails among food & beverage, mining and construction industries have contributed towards revenue growth of the market during the forecast period.
As per FMI’s insights, what you think is the deterrent factor for growth of industrial pails market?
The most restraining factor for market growth of industrial pails is observed as the cost element. Fluctuating cost of raw materials for the production of industrial pails is likely to impede on overall manufacturing process. Thereby, high cost of industrial pails is expected to lower its penetration rate in industrial application. Due to this, market players are focusing to opt for continuous supply of raw material at cost effective price agreements in order to attain profitability in trading industrial pails.
According to you, will APEJ continue to represent the most lucrative market place for industrial pails?
The Asia Pacific excluding Japan (APEJ) is expected to remain as a lucrative market region for industrial pails manufacturers. Rapid industrialization in emerging economies of APEJ such as India and China are highly likely to attribute towards revenue growth of industrial pails market in this region. The APEJ market players are anticipated to account for potential value share together with robust growth in CAGR in the global industrial hearable market during the forecast period.
Based on your analytical study, which raw material used for industrial pails production will find attain potential growth?
Industrial pails are manufactured using several raw materials such as tin, aluminum, steel, low density polyethylene, polypropylene and high density polyethylene among others. Among these, high density polyethylene is expecedt to account for valuation of US$ 950 Mn by the end of forecast period. High density polyethylene based industrial pails are expected to account for one tenth of value share in industrial pails market during the forecast period.
What do you think about the demand for industrial pails find significant growth in term of capacity?
As per FMI’s forecast, industrial pails with the capacity of 1 Gal are likely to remain high in demand. The overall sales of 1Gal industrial pails is expected to reach a valuation of US$ 1,900 Mn by the end of 2026 with an estimated value share of one-fifth in 2017. Followed by this, industrial pails with the capacity of 3 Gal has account for one-tenth of value share in 2017 and its sales are anticipated to reflect a value of US$ 1,050 Mn by the end of 2026.
Who are the key stake holders in industrial pails market?
Several manufacturers of industrial pails are focusing to diversify their product portfolio in order to gain large customer base for versatile applications. Moreover, market players are anticipated to establish long term supply agreements for raw material to keep continuous manufacturing of industrial pails throughout the forecast period. Europe based companies such as SCHÜTZ GmbH & Co., Mauser Group B.V., Delta Containers Direct Limited and FDL Packaging Group are expected to account for major value share in industrial pails market. Companies operating in North America such as Grief Inc., Industrial Container Services and Sonoco are focusing to integrate innovative technologies in order to upgrade existing standard products. Other companies in APEJ such as Orora Packaging Australia Pty Ltd, Balmer Lawrie & Co. Ltd are anticipated to account for tremendous opportunities in the region during the forecast period.
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