Pails Market Revenue to be Valued at US$ 2 Billion in 2023 and Exhibit a Revenue Growth of US$ 3.1 Billion by 2033 | Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / February 6, 2023 / The global pails market is projected to have a high-paced CAGR of 4.6 % during the forecast period. The current valuation of the pails market is US$ 2 billion in 2023. The value of the pails market is anticipated to reach a high of US$ 3.1 billion, by the year 2033.

The availability of buckets in various sizes and colors is a critical aspect in driving pail market expansion. Rapidly expanding chemical businesses in emerging nations, as well as expanding pharmaceutical enterprises, are likely to boost the global pails market in the future. In terms of bulk liquid packaging demands, industrial chemical companies worldwide are currently focused on lightweight, cost-effective container options. Plastic pails satisfy these requirements and are thus frequently utilized in the industrial chemical sector.

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Concurrently, steel pails are recognized as the best packaging solutions for several end users and industrial commodities such as lubricants, chemicals, adhesives, product coatings, and fuel. Steel pails are used by end users to transport and store liquid or dry commodities. End-user industries have used them extensively for the storage and transportation of dry and liquid goods for many years. The increasing number of building projects in the United States is expected to continue to climb as a result of increased international and local investment.

A few of the leading construction projects that have significantly increased demand for high-density polyethylene plastic pails in the United States include the Washington State Convention Center in Seattle, the Comcast Technology Center in Philadelphia, the Atlanta Falcons Stadium, and the One Thousand Museum in Miami.

Concerns about environmental footprints have resulted in a considerable movement toward the use of recyclable and post-consumer polymers in the production of plastic pails. This is expanding worldwide acceptance of plastic pails across various end-user industries, such as the packaging industry, and so quickening the category spend momentum. Plastic pails' high customization capability in terms of size, shape, moldability, and the material used in their manufacturing process is supplementing category demand for packaging a diverse range of products such as food and beverages, chemicals, paints and adhesives, pharmaceutical products, and lubricants.

Furthermore, the growing awareness of the need for newborn cleanliness in emerging economies is boosting demand for baby diaper pails. Working moms are willing to pay a premium for organic and eco-friendly items sold by vendors such as Seventh Generation, which manufactures their goods from plant-based resources.

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Additionally, several sectors, such as chemical and pharmaceutical, require lightweight, robust, and low-cost packaging materials. This is perfect for carrying both solid and liquid bulk materials, which increases demand for plastic pails. Furthermore, rising demand from the food and beverage industries for pails to avoid contamination and transportation is expected to drive the pails market growth throughout the research period.

However, stringent government regulations on the use of plastic are expected to stymie the growth of the global pails market. High raw material prices, as well as the high price of metal pails compared to that plastic ones, are other challenges faced by the pails industries.

Key Takeaways:

• During the projected period, the United States is likely to have significant market growth for pails. Key players make their pails to meet the most stringent food container specifications.
• China is likely to lead the global pail market over the forecast period. China's market participants provide a wide selection of sizes in both lacquered and unlacquered finishes. A multitude of other conceivable adjustments, such as custom engraving, adding or deleting handles, and more, are also available to meet any purpose.
• Owing to its popularity as a strategy to reduce CO2 emissions and reduce the need for fossil fuels, the plastic material type is expected to hold the greatest revenue, through the forecast period.
• As pails are extensively used for construction projects across the world, the paints & coatings" end-user type, is the most creative segment for key companies, accounting for a sizable portion.

Competitive Landscape:

Given the existence of both international and domestic competitors, the global pails market share is divided. Several companies have a substantial market share in their respective industries. Large firms often respect organic changes such as product approvals and the preference of industrial chemical makers for cost-effective, lightweight, yet long-lasting packaging solutions. As a result of these reasons, the global pails industry is predicted to expand quickly.

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Key Players:

• Greif Inc.
• Mauser Group N.V.
• Rieke Corporation
• Berry Global Inc.
• M&M Industries Inc.
• Involvement Packaging Ltd.
• IPL Plastics Inc.
• Plast Service Pack Company
• Jokey Plastik Wipperfürth GmbH
• Corcoran Products,
• Pro-Western Plastics Ltd.
• Affordable Plastics Llc
• Viscount Plastics Ltd.
• Northern Container
• United States Plastic Corp.

Recent Developments:

• In August 2021, Berry Global built a new location in Bangalore, India. The company's expanding presence in the area is likely to boost its capacity to service the Indian and South Asian markets by including R&D and production in Medtech and packaging.
• In February 2022, Novvia Group bought Andicor Specialty Chemicals' container distribution operation in Canada. The acquisition was made to better serve current and prospective clients and to develop the Canadian market.

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Key Segments Profiled in the Pails Market Survey

By Material Type:

• Plastic
• Metal

By End User:

• Paints & Coatings
• Inks, Dyes & Pigments
• Petroleum & Lubricants
• Agrochemicals & Fertilizers
• Food & Beverage
• Other Industrial

Table of Content

1. Executive Summary | Pails Market

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

Click Here for Pails Market 257 pages TOC Report

About the Packaging Division at Future Market Insights

The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

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