Global Plastic Pails Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Plastic Pails Market 2021 (Includes Business Impact of COVID-19)
Global Plastic Pails Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global plastic pails market report has been segmented on the basis of type, capacity, end-user, and region.
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The global Plastic Pails market size was valued at USD$ 3.19 billion in 2020 and is projected to reach UDS$4.57 billion by 2030, and is anticipated to expand at a CAGR of 4.00% over the forecast period from 2020 to 2030.


Global Plastic Pails Market: Overview


Plastic pails are cylindrical shaped containers which are made up of plastic material in order to store and packaging of liquids to avoid spoilage and contamination. Plastic pails are also called as plastic buckets; these buckets are often used among household to store the water.


Global Plastic Pails Market: Dynamics


Plastic Pails are having various industrial applications including packaging, transportation, and shipping of liquid items from one point to another. Plastic has various properties including chemical resistance, durability, reusability, lower at cost etc., owing to these properties plastic suits as the best material for storage and shipping of chemicals, paints, and coatings, and other industrial applications. This is one of the major factors expected to drive the growth of the global market. The availability of these buckets in various colors and capacities is another factor expected to support growth of the target market. The rapid growth of pharmaceutical and chemical industries is a factor expected to fuel demand for plastic pails. Moreover, chemical and pharmaceutical manufacturers are demanding for light-weight, durable, and cost-effective packaging solution in order to meet efficient shipping and transportation of liquid in bulk quantity. Increasing demand for paints and coatings, among construction industry is one of the key factors projected to support revenue growth of the global market. Increasing demand for these plastic pails among food and beverage sectors to preserve the food ingredients and avoid contamination is another factor expected to augment growth of the target market over the forecast period.

However, stringent government regulations regarding usage of plastic material is a factor expected to hamper the target market growth. In addition, escalating prices of raw materials required for the production of plastic pails is another factor projected to challenge growth of the global market over the forecast period.


Global Plastic Pails Market: Segmental Analysis


Among type segments, the closed top/head plastic pails segment is expected to register substantial growth, owing to less possibility of spilling and ability to lock smell of the liquids stored in it.

Among capacity segments, the up to 3 liters segment is estimated to capture the highest revenue share, owing to high demand for handy, convenient and ready to use products from consumers.

Among end-user segments, the industrial chemicals segment is projected to contribute significant revenue shares in the global market, owing to the high demand for plastic pails to store chemicals in a safer way.


Global Plastic Pails Market: Regional Analysis


Asia Pacific plastic pails market is expected to account for significant revenue shares in the global market, owing to the rapid growth of the manufacturing industry. In addition, a strong base of manufacturing and availability of raw material and labors at competitive prices is another factor expected to fuel growth of the target market in the region. Rising demand for plastic pails among food and beverages sector in order to store food ingredients and beverages (liquors, beers etc.) is another factor expected to augment target market growth. Markets in Latin America, Middle East & Africa, and Europe are expected to register steady growth during the forecast period.

Global Plastic Pails Market Segmentation:

Segmentation by Type:

  
Open top/head plastic pails
  
Closed top/head plastic pails

Segmentation by Capacity:

  
Up to 3 Liters
  
Between 3 and 5 Liters
  
Between 5 and 10 Liters
  
Between 10 and 20 Liters
  
Between 20 and 50 Liters
  
50 Liters and above

Segmentation by End-user:

  
Agriculture Industry (Fertilizers / Pesticides)
  
Food & Beverage
  
Paints & Coatings
  
Industrial Chemicals
  
Petroleum and Lubricants
  
Others (Cleaning Solvents, Resins, Adhesives, etc.)


Key Market Players included in the report:


  
BASCO, Inc.
  
Berry Plastics Corporation
  
BWAY Corporation
  
Chicago Steel Container Corporation
  
CL Smith
  
Encore Plastics
  
FDL Packaging Group
  
Great Western Containers Inc.
  
Greif, Inc.
  
Hitech Group
  
Hofmann Plastics
  
Industrial Container Services, Inc.
  
Jokey Group
  
Kay Industries (Pty) Ltd.
  
Leaktite
  
M&M Industries, Inc.
  
Mauser Group B.V.
  
Mitchell Container Services, Inc
  
Myers Container, LLC
  
NCI Packaging
  
North Coast Container Corp.
  
Paragon Manufacturing
  
Parekhplast
  
Priority Plastics
  
Pro-design Group
  
Pro-western
  
Qianyuan Plastic
  
RPC
  
Ruijie Plastics
  
Schutz Container Systems, Inc.
  
The Cary Company
  
Time Technoplast Ltd.
  
Xingguang Industrial
  
Zhonglianbang


Below are the key development related to Plastic Pails Market in 2020 and 2021.


June 2021: Funds managed by Kelso & Company (“Kelso”) have acquired Container Supply, Inc. (“Container Supply”), a distributor of metal and plastic packaging products. Container Supply will be combined with Kelso’s existing investments in C.L. Smith, Inmark, and Silver Spur, distributors of rigid container, life sciences, and dangerous goods packaging products. Financial terms of the private transaction were not disclosed. Headquartered in Oklahoma City, OK, Container Supply is a distributor of cans, drums, pails, bottles, and other rigid packaging products serving a variety of customers and end markets. Container Supply has developed long-tenured customer relationships and provides high levels of service via its 50,000 square foot warehouse and national supplier base. Source

December 2020: Polyethylene Containers Announces Acquisition. PCI Making Major Moves in Plastics Industry by Acquiring Segment from Rehrig Pacific. Polyethylene Containers, Inc (PCI), announces the acquisition of Rehrig Pacifics (RP) pail portfolio. The acquisition comes immediately after PCIs announcement of their new state-of-the-art 246,000 sq. ft. production facility in El Dorado, AR. Source

March 2020: Argand Partners Announces the Acquisition of Midwest Can. Argand Partners, LP (“Argand”), the New York- and San Francisco-based private equity firm, announced its acquisition of Midwest Can Company and Container Specialties, Inc. (together, “Midwest Can”). Midwest Can is a market-leading manufacturer of portable fuel containers (“PFCs”) used for the safe handling, storage and usage of flammable liquids such as gas, diesel and kerosene. The company designs and manufactures PFCs, which contain its industry leading FlameShield Safety System, as well as fluid management accessories such as funnels, drain pans and spouts. The company’s products are sold through a diverse customer base consisting of farm & fleet, lawn & garden, automotive aftermarket, hardware, and gas & convenience retailers. It is the leader in standard PFCs and continues to innovate and expand its product offering. Additionally, its Container Specialties division manufactures custom blow-molded plastic containers for the food, automotive, chemical, and agriculture industries. Source