Global Plastic Pails Market Growth Factors, Applications, and Forecast by 2024-2032

Plastic Pails Market Size And Forecast

Plastic Pails Market size was valued at USD 1.98 Billion in 2023 and is projected to reach USD 2.1 Billion by 2030, growing at a CAGR of 4.82% from 2024 to 2030.

Properties of plastics such as lightweight and durable have made them a preferable option for many industries, it can be considered as the best substitute for metal and glass, thus growing urbanization and industrialization have been fueling the growth of the Global Plastic Pails Market. The Global Plastic Pails Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Plastic Pails Market Definition

Plastic Pails are cylinder-shaped plastic containers and are used commonly for storage and handling. The pail is the term used to designate a cylindrical shipping container. Most commonly it is having capacity of 3 to 50 liters. Usually, the pail has a handle or bail to hold and has slanted or straight sides. It is identical to the bucket. Pails are either tight heads with sealed heads and screws or open heads, with removable covers. They are made up of different materials such as steel, aluminum, fiber, paperboard, and plastics. Choice of material is done on the basis of the material to be transported and what type of industry it is being used in.

For example, in the case of the chemical industry mostly steel-made and plastic-made pails are used, depending upon the type of chemical and transportation. Plastic pails also known as plastic buckets are often used for storing water pails and are available in different sizes depending upon the amount of material to be carried. Plastic possesses various properties such as chemical resistance, durability, minimum cost, and reusability. Because of these properties plastic is supposed to be good material for shipping and transport. Thus, it is used as plastic pails for packaging, transportation, and shipping.

Global Plastic Pails Market Overview

Plastic pails are prominently used as shipping and transportation means in various industries. Plastics possess superior properties such as reusability, durability, and lower cost in turn fueling the growth of the Plastic Pails Market. The major factor that accelerates the growth of plastic pails are properties of plastics that made them suitable for storing ad shipping chemicals, coatings, paints, and various other industrial materials. Furthermore, the availability of buckets in various sizes and a variety of colors is another factor in boosting the market growth of Plastic Pails. Rapidly growing chemical industries in emerging economies and growing pharmaceutical companies are expected to support the growth of plastic pails these days.

In addition, many industries like chemical and pharmaceutical are demanding light-weight, durable with low-cost packaging material for shipping of solid as well as liquid bulk material which in turn causes an increase in demand for Plastic Pails. Moreover, due to growing construction and building projects in various regions thus demand for the paint and coating industry is one of the major factors behind the growing demand for Plastic Pails. Also, increasing demand from the food and beverages industry in order to avoid contamination and for transportation is supposed to boost the growth of the Plastic Pails Market over the forecast period. On the other hand, stringent regulation by respective governments on the usage of plastic is anticipated to hamper the growth of the Plastic Pails Market. Also, high prices of raw materials are another challenge faced by plastic pails industries.

Global Plastic Pails Market: Segmentation Analysis

The Global Plastic Pails Market is segmented on the basis of Type, Top Head, Application, And Geography.

Plastic Pails Market, By Type

• Square• Round

Based on Type, the market is bifurcated into Square and Round. Depending upon the shape and capacity of the container it is available as round or square in shape. It depends on consumer specification and need whether to buy square shaped or round shaped.

Plastic Pails Market, By Top Head

• Open Top Head• Closed Top Head

Based on Top Head, the market is bifurcated into Open Top Head and Closed Top Head. Among these two segments, the closed top head segment is expected to grow at a high CAGR due to less possibility of spilling and also possesses the ability to lock smell.

Plastic Pails Market, By Application

• Food and Beverage• Construction• Polymer, Resin, Adhesive• Others

Based on Application, the market is bifurcated into Food and Beverage, Construction, Polymer, Resin, Adhesive, and Others. The construction segment is expected to contribute a significant revenue share due to, the high demand for plastic pails to store paints and coatings required for construction industries.

 Plastic Pails Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Geography, The Global Plastic Pails Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market will be dominated by Asia Pacific due presence of emerging economies in the region causing rapid growth in industrialization and construction business. Also, high demand from the food and beverages market for stored food is fueling the growth of plastic pails in the region.

 Key Players

The “Global Plastic Pails Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Mauser Packaging Solutions, Berry Global Inc., Greif, Inc., Time Technoplast Ltd., FDL Packaging Group, and The Cary Company.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

Partnerships, Business Expansion, and Product Launch

• In January 2020, Mauser Group N.V. announced an investment in its manufacturing facility in Erkelenz, Germany, to expand production capabilities.

• In May 2022, Leading online bookmaker Betway is proud to announce its partnership with the FURIA esports organization in support of Brazil’s ever-growing esports community.

• In Aug 2021, Berry Global is constructing a second facility in Bangalore. The company’s expanded presence in the region, which will include R&D and manufacturing in Medtech and packaging, will improve its ability to serve the Indian and South Asian markets.

Mergers and Acquisitions

• In Oct 2021, Metropolis Health has completed the acquisition of Hitech, which will assist Metropolis Healthcare in strengthening its leadership position, increasing B2C contribution in focus cities, enabling deeper penetration in the market’s mid-segment, and increasing profitability through revenue and cost synergies.

• In February 2020, Greif Inc. acquired Caraustar Industries, a vertically-integrated North American paperboard manufacturer.

Report Scope

Research Methodology of Market Research:

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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