Fiber Drum Market Size, Share, Growth Analysis, By Closure Type(Metal Closure, Plastic Closure, Fiber/Cardboard Closure), By Capacity(Up to 25 Gallons, 26-50 Gallons, 51-75 Gallons, and Above 75 Gallons), By End-use Industry(Chemicals, Food & Agriculture, Pharmaceuticals, Building & Construction), By Region - Industry Forecast 2024-2031

Global Fiber Drum Market size was valued at USD 1.1 billion in 2022 and is poised to grow from USD 1.19 billion in 2023 to USD 2.33 billion by 2031, growing at a CAGR of 7.8% in the forecast period (2024-2031).

Fiber drums are extensively utilized in the packaging and transport of food, agricultural, pharmaceutical, and chemical products owing to their high durability. Fiber drums/barrels are preferred for their excellent corrosion resistance and affordable nature as compared to other drums made from metals or other types of materials. Growing demand for lightweight bulk packaging solutions to improve the handleability of products and reduce emissions caused during their transportation. Shipping charges are usually calculated by weight and the lightweight nature of these drums allows companies to reduce their shipping costs and improve profit margins as well. Liquid products are extensively transported using fiber drums as they are capable of avoiding spillage or leakage that could cause losses and damage during transportation.

Increasing focus on sustainability has led to the rising use of eco-friendly materials in the manufacturing of fiber drums. Expanding international trade volumes, increasing transcontinental commerce activity, and high demand for sustainable bulk packaging solutions are estimated to be key factors that could augment fiber drum market growth in the long run.