According to Stratistics MRC, the Global Nestable Drums Market is accounted for $348.46 million in 2024 and is expected to reach $464.31 million by 2030 growing at a CAGR of 4.9% during the forecast period.
Nestable drums are a type of industrial container designed for efficient storage and transportation. When not in use, their stackable design maximizes space and minimizes the overall footprint by allowing one drum to fit inside another. Usually constructed from sturdy materials like steel or plastic, nestable drums are widely utilized in sectors like food packaging, chemicals, and pharmaceuticals. Their design makes it simple to stack and handle safely, which makes it perfect for use in shipping, logistics, and warehouses. Nestable drums offer convenience and versatility for bulk storage and transportation requirements by being able to hold a range of liquids, powders, or granular materials.
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Over the forecast period, the Asia-Pacific region is anticipated to exhibit the highest CAGR. Packaging solutions are in high demand across a range of industries, including chemicals, food and beverage, pharmaceuticals, and oil and lubricants, as a result of the fast industrialization and urbanization occurring in nations like China, India, and Japan. The need for effective, space-saving packaging solutions like nestable drums has grown as a result of the region’s expanding manufacturing base and the growth of global supply chains. Moreover, driving market expansion is the growing emphasis on enhancing logistics, storage effectiveness, and environmentally friendly packaging options.
Some of the key players in Nestable Drums market include Schutz Container Systems, Inc., Greif, Inc, Time Technoplast Ltd., Balmer Lawrie & Co. Ltd., Greystone Logistics, Inc., Müller Group, Snyder Industries, LLC, BEWI Group, Skolnik Industries, Inc., Mauser Packaging Solutions, CurTec Inc and Scepter Canada Inc.
Key Developments:
In December 2024, Greystone Logistics, Inc. announced that it has entered into an agreement with Forvis Mazars, LLP, a national accounting, tax, and advisory firm, to provide quarterly and annual public filing services as well as CFO-level support for the company.
In November 2024, Balmer Lawrie & Co. Ltd has signed an agreement with GATX India Pvt. Ltd., the largest private railcar lessor in India. This partnership will see GATX leasing three BFNS 22.9-ton capacity rakes to Balmer Lawrie to transport finished steel products from Steel Authority of India Limited (SAIL), specifically the Rourkela Steel Plant (RSP), over 1,000 kilometers.
In September 2024, Greif, Inc. announced the signing of a virtual power purchase agreement (VPPA) with Endesa’s renewal subsidiarity, Enel Green Power España (EGPE). The VPPA agreement signifies a critical advancement in Greif’s long-term sustainability and climate goals, further reinforcing the company’s commitment to reducing its environmental footprint.
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