Industrial Pails Market: Global Industry Analysis and Forecast (2023 -2029)

Industrial Pails Market is anticipated to reach US$ 10.76 Bn by 2029 from US$ 7.80 Bn in 2022 at a CAGR of 4.7% during a forecast period.
Industrial Pails Market Overview
A pail is a cylindrical container made of metal or plastic that is used for storage or material handling in practically every industrial sector across the world. Industrial pails can feature slanted or straight sides, as well as a handle/bail and a cover. Industrial pails are available in a variety of sizes based on the amount of material handled.

End consumers select industrial pails based on material compatibility, such as steel, plastic, or other metal, among others, depending on the area of the industrial sector. Several industrial pail manufacturers are concentrating on cost-effective alternatives to give improved packaging solutions that address issues like breakage and leakage.To know about the Research Methodology :- Request Free Sample Report
Industrial Pails Market Dynamics
The growing pharmaceutical and chemical industries are a primary driving force behind the massive development of the industrial pail market. The growing demand for lightweight, cost-effective packaging solutions in these industries is likely to drive up demand for industrial pails. The increasing use of industrial pails for bulk liquid handling is projected to provide new possibilities for industrial pail producers. Another factor influencing demand for industrial pails shortly is the rising need for coatings, paints, and adhesives as a result of rising worldwide demand. Other sectors that have used industrial pails include food and beverage, mining, and construction.

The cost aspect has been identified as the biggest constraining factor for the growth of the industrial pail market. The fluctuating cost of raw materials used in the manufacture of industrial pails is likely to hamper the whole manufacturing process. As a result, the high cost of industrial pails is projected to reduce their penetration rate in industrial applications. As a result, market participants are focused on obtaining a constant supply of raw materials at cost-effective pricing agreements to achieve profitability in trading industrial pails.
Growing Chemical Industries in the leading countries to create market opportunities
The growth of the chemical industries is expected to be a significant driving force in the industrial pails market. Chemical firms are looking for cost-effective, lightweight, yet robust packaging solutions for their bulk liquid packaging needs. This increases the need for industrial pails in the chemical industries.
Industrial Pails Market Segmentation Analysis
By Material Type, the high-density polyethylene material type segment is estimated to be valued at US$ 950 Mn by 2029. The high-density polyethylene material type segment is predicted to account for more than one-tenth of the material type segments revenue share by the end of 2022 and to gain market share by the end of 2029.

The qualities of high-density polyethylene, such as exceptional toughness and cut and wear resistance, as well as extremely good chemical resistance, sustain the market value. Furthermore, stackable high-density polyethylene pails with an easy-to-handle recessed lip are available on the market. Manufacturers also provide pails that meet USDA criteria and are FDA compliant. The ease of storage and transportation provided by the tapered body, which allows one pail to nest inside another, is also driving the market growth.

By Capacity, the 1 Gal capacity segment is expected to be worth roughly US$ 1,900 Mn by 2029. This equates to a 4.3 % CAGR during the forecast period. By 2022, the 1 Gal capacity segment was predicted to account for more than one-fifth of the capacity segments sales share.
Industrial Pails Market Regional Analysis
In 2022, Asia Pacific accounted for4.7% of the worldwide Industrial pails market and is likely to maintain its dominance during the forecast period. Rising exports from rising nations such as China and India are boosting market value significantly. Rapidly expanding industrialization and urbanization, as well as increased consumer expenditure and changing lifestyles, are all adding to the value of the regional market. However, the availability of alternatives such as cans and bottles is expected to limit regional market growth throughout the forecast period.
Leading market key players are working to demonstrate the opportunity to Market.
Major players are implementing long-term tactics to acquire a competitive advantage, such as new product releases, product upgrades, and mergers and acquisitions, as well as collaboration partnerships. For example, Reliance Products LTD and Bucket Innovations, LLC, has announced a new North American distribution partnership agreement under which Reliance Products can manufacture and distribute Bucket Innovations' industrial-grade high-density polyethylene (HDPE) pails with a proprietary, integrated handle across North America. The new Reliance 5-Gallon Pail was set to be available in early July 2022 via both Reliance's industrial and outdoor recreation decisions.

Bucket Innovations, LLC has also produced a patented bucket design by incorporating a molded handle into the bottom of industrial-grade pails. The new 5-gallon pail increases user efficiency and ergonomics while also adding a valuable safety layer above standard five-gallon pails.

BMB SpA, an Italian injection molding machinery manufacturer, will display their eKW55Pi/7000 hybrid injection molding machine. In 14 seconds, the machine produces a 5-gallon industrial pail composed of high-density polyethylene. The 550-tonne hybrid press is designed to operate far quicker than conventional molds created for plastic industrial pails, resulting in a 25% increase in parts per hour output.

The objective of the report is to present a comprehensive analysis of the Global Industrial Pails Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Industrial Pails Market dynamics, structure by analyzing the market segments and project the Global Industrial Pails Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Industrial Pails Market make the report investor’s guide.
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Global Industrial Pails Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 7.80 Bn.


Forecast Period 2023 to 2029 CAGR:
4.7%
Market Size in 2029:
US $ 10.76 Bn.


 Segments Covered:
by Material
Plastic
Metal


by Capacity
1 Gal
3 Gal
4 Gal
6 Gal


by Type
High Density Polyethylene
Low Density Polyethylene
Polypropylene
Steel
Aluminum
Tin



Industrial Pails Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Industrial Pails Market, Key Players are
1. Mauser Group B.V
2. Delta Containers Direct Limited
3. Fibrestar Drums Ltd
4. Industrial Container Service
5. Orora Packaging Australia Pty Ltd
6. SCHÜTZ GmbH & Co
7. Grief Inc
8. Balmer Lawrie & Co. Ltd
9. FDL Packaging Group
10. Sonoco
11. TriMas Corp
12. Reliance Products LTD and Bucket Innovations
13. BMB SpA
14. Leaktite Corporation
15. E. Hofmann Plastics Inc

Frequently Asked Questions:

1. Which region has the largest share in Global Industrial Pails Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Industrial Pails Market?
Ans: The Global Industrial Pails Market is growing at a CAGR of 4.7% during forecasting period 2023-2029.

3. What is scope of the Global Industrial Pails market report?
Ans: Global Industrial Pails Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Industrial Pails market?
Ans: The important key players in the Global Industrial Pails Market are – Mauser Group B.V, Delta Containers Direct Limited, Fibrestar Drums Ltd, Industrial Container Service, Orora Packaging Australia Pty Ltd, SCHÜTZ GmbH & Co, Grief Inc, Balmer Lawrie & Co. Ltd, FDL Packaging Group, Sonoco, TriMas Corp, Reliance Products LTD and Bucket Innovations, BMB SpA, Leaktite Corporation, and E. Hofmann Plastics Inc

5. What is the study period of this market?
Ans: The Global Industrial Pails Market is studied from 2022 to 2029.