PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1490302
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1490302
Plastic Pails Market size was valued at USD 2,151.2 Million in 2023, expanding at a CAGR of 5.00% from 2024 to 2032.
Plastic pails are cylinder-shaped plastic containers that are widely used for storage and handling. The phrase pail refers to a cylindrical shipping container. Most often, it has a volume of 3 to 50 liters. The bucket usually has a handle or bail and slanted or straight sides. It's identical to the bucket. Pails come in two types: tight heads with sealed heads and screws, and open heads with removable covers. They are made of many materials, including steel, aluminum, fiber, paperboard, and plastic.
Plastic Pails Market- Market Dynamics
Plastic Pails are Widely Used for Shipping, have Qualities like Durability and Low Cost, Driving Market Growth
Plastic pails are widely utilized as shipping and transportation containers in a variety of sectors. Plastics have exceptional qualities such as reusability, durability, and low cost, which fuels the growth of the Plastic Pails Market. The primary cause driving the expansion of plastic pails is the qualities of plastics that make them excellent for storing and transferring chemicals, coatings, paints, and a variety of other industrial items. Furthermore, the availability of buckets in a range of sizes and colors contributes to the growth of the plastic pail industry. Plastic pails are predicted to rise in popularity due to the rapidly developing chemical industry in emerging economies and the expansion of pharmaceutical companies.
Plastic Pails Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.00% over the forecast period (2024-2032)
Based on Type segmentation, Closed Top Plastic Pails was predicted to show maximum market share in the year 2023
Based on Capacity segmentation, 3 Litres to 10 Litres was the leading type in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Plastic Pails Market is segmented on the basis of Type, Capacity, Application, and Region.
The market is divided into two categories based on Type: Open Top Plastic Pails and Closed Top Plastic Pails. The Closed Top Plastic Pails are the most dominant segment. Closed Top Plastic Pails are widely used in various industries because of their secure sealing, which helps prevent spills and contamination. These buckets are often utilized for the storage and conveyance of liquids, chemicals, and various materials in a comprehensive manner.
The market is divided into five categories based on Capacity: Upto 3 Litres, 3 Litres to 10 Litres, 10 Litres to 20 Litres, 20 Litres to 50 Litres and above 50 litres. The 3 Litres to 10 Litres capacity holds the biggest market share. This category is well-known for providing a wide variety of storage needs for beverages, chemicals, and other materials in small quantities. It manages to find a middle ground by being small enough for easy handling and storage, while still offering sufficient power for various applications.
Plastic Pails Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. Asia-Pacific dominated the market due to increased applications in construction, food, and beverages, as well as increasing consumer desire for low-cost packaging solutions, which is likely to drive demand for plastic pails in the area. Growing economies such as China, India, and South Korea are predicted to increase food demand, boosting the market for plastic pails.
Plastic pails are predicted to increase at the fastest rate in Europe due to rising demand from the region's food processing industries, and they are also used to transport lubricants and cleaning solvents for autos. Furthermore, the use of plastic pails for applications, primarily in the paints and coatings industry, is helping to drive market expansion in the region.
The global plastic pails market is extremely competitive, with numerous competitors working in the industry. Plastic pail makers, packaging firms, and plastic resin suppliers are among the key stakeholders. Greif, Inc., Mitchell Container Services, Inc., FDL Packaging Group, and Time Technoplast Ltd. are among of the market's leading players. Product innovation, quality assurance, pricing tactics, and market presence all have an impact on market competition.
In August 2021, Berry Global is building a second location in Bangalore. The company's expanding presence in the region, which will encompass R&D and manufacturing in Medtech and packaging, would help it better serve the Indian and South Asian markets.
GLOBAL PLASTIC PAILS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Greif, Inc.
Mitchell Container Services, Inc.
FDL Packaging Group
Time Technoplast Ltd.
Berry Plastics Corporation
Mauser Group B.V.
The Cary Company
Kay Industries (Pty) Ltd.
BWAY Corporation
BASCO, Inc.
Others