The Industrial Drum Market size was USD 12.96 billion in 2023 and is expected to Reach USD 23.98 billion by 2031 and grow at a CAGR of 8% over the forecast period of 2024-2031.
The industrial drum market is a dynamic landscape driven by innovation. Sustainability is a key focus, with eco-friendly materials gaining traction to minimize environmental impact. Automation and technology are playing an increasingly important role, optimizing production efficiency and ensuring consistent product quality. Customization is another growing trend, as businesses seek tailored solutions for their specific storage and transportation needs. International safety standards are also influencing drum design and manufacturing practices. This dynamic market is further expanding geographically, with key players strategically establishing themselves in emerging economies to meet the diverse demands of modern industries across the globe.
Get More Information on Industrial Drum Market - Request Sample Report
The Indian government expects chemical exports to reach a new high of $29.31 billion in 2021-22, a 106% increase from 2013-14. This surge in chemical exports is likely to increase demand for chemical drums. The growing use of fiber drums in the chemical industry is boosting the market. As it offer a cost-effective solution for storing and transporting chemicals, adhesives, dyes, and more, due to their recyclability and affordability compared to plastic and steel drums.
KEY DRIVERS:
The growing focus on sustainability and heightened environmental awareness are driving significant changes across various industries.
Driven by a surge in environmental awareness, the industrial packaging industry is witnessing a shift towards sustainable solutions. Steel and plastic drums are gaining favor due to their reusability and recyclability, making them a perfect fit for eco-conscious companies looking to minimize their environmental footprint.
The ongoing expansion of industries and the concentration of populations in urban centers are shaping the future of our world.
RESTRAIN:
High upfront costs for industrial drums, especially customized ones, can be a hurdle for budget-conscious startups and SMEs.
Incompatibility with automation can hinder use of industrial drums.
OPPORTUNITY:
The landscape of industrial packaging is evolving rapidly due to continuous advancements in technology.
The surging popularity of e-commerce and the continued growth of retail are shaping the demand for innovative and efficient packaging solutions.
E-commerce and retail's explosive growth have fueled the demand for efficient packaging solutions. Industrial drums play a key role here, enabling the bulk shipment of goods that keeps online stores and physical retailers stocked. Their ability to handle large quantities makes them a valuable asset in today's fast-paced distribution landscape.
CHALLENGES:
The industrial drum market faces stiff competition from a growing number of alternative packaging solutions.
Heavy industrial drums can inflate transportation costs, pushing companies, especially those shipping long distances, towards lighter packaging options.
The war in Ukraine caused a significant surge in crude oil prices, which could impact the industrial drum market in a few ways. Since these drums are essential for storing and transporting oil and gas, higher oil prices could lead to increased demand for drums in the short term. Oil companies may need more drums to store excess oil due to sanctions on Russia or logistical disruptions. In the long term, however, high oil prices could also lead to a decrease in demand for oil and gas overall, as consumers and businesses switch to more affordable energy sources. This could dampen demand for industrial drums. Additionally, higher oil prices could raise production costs for the drums themselves, potentially due to more expensive raw materials like steel or plastic. This could lead to price increases for industrial drums, potentially reducing demand from some sectors. The overall impact of the war on the industrial drum market depends on how these opposing forces play out. In the short term, the demand for drums from the oil and gas industry may outweigh the negative impacts of higher production costs. In the long term, however, a decrease in demand for oil and gas could lead to a decline in the industrial drum market.
The global economic slowdown is putting pressure on the industrial drum market. Weaker demand across various sectors, particularly those sensitive to commodity prices like metals and chemicals, is leading to muted growth. This is likely due to a combination of factors including declining commodity prices of oil and metals, subdued global demand, and China's slowing economy. As these sectors are major consumers of industrial drums, a decrease in their manufacturing activity could lead to lower demand for drums used to store and transport their products. Weakening consumer and business confidence could lead to decreased production globally, reducing demand for industrial drums. This would impact both domestic manufacturers in various countries who rely on the market and international producers who export drums globally. The slowdown could also spread through global supply chains, affecting companies like 3M and Caterpillar that depend on manufacturing activity around the world. This could further reduce demand for industrial drums as manufacturing activity weakens.
By Product Type
Steel Drum
Plastic Drum
Fiber Drum
Steel drums dominates in the industrial drum market, capturing 73.5% share. This dominance stems from their unmatched strength, durability, and versatility. Across industries, steel drums are the go-to choice for transporting and storing a wide range of liquids and solids, especially when the safekeeping of the contents is paramount. From withstanding the rigors of manufacturing to securing chemicals and streamlining logistics, steel drums are the trusted workhorses for companies handling diverse and demanding materials.
Get Customized Report as per Your Business Requirement - Request For Customized Report
By Capacity
Up to 100 Litre
100 to 250 Litre
250 to 500 Litre
Above 500 Litre
By End Use
Food & Beverages
Chemical & Fertilizers
Pharmaceuticals
Petroleum & Lubricants
Building & Construction
Paints
Inks & Dyes
Other
The chemical and fertilizer industries are the backbone of the industrial drum market, with significant 45.6% share. This dominance reflects the specialized packaging needs of these sectors. Industrial drums are the workhorses, ensuring safe containment and transport of hazardous and sensitive materials. Stringent regulations governing chemicals and fertilizers further solidify the importance of reliable, compliant packaging solutions like industrial drums. In essence, these drums are irreplaceable for safeguarding the integrity and safety of materials critical to the chemical and fertilizer industries.
The Asia-Pacific region leads in the industrial drum market, fueled by its booming manufacturing sector. China, India, and Indonesia are leading the charge, with China even experiencing strong growth in fiber drum production. This growth is driven by a dual force such as the need for sophisticated packaging solutions from both local and established players, and the rising demand for lightweight and recyclable options like fiber drums. Furthermore, the region's flourishing export sector, particularly in wines, vegetable oil, and palm oil from China and India, is creating a strong demand for industrial drums as the preferred choice for bulk packaging.
The industrial drum market thrives in regions with robust manufacturing sectors. The US, for example, leverages these drums across various industries like chemicals, pharmaceuticals, and food processing, due to its diverse industrial landscape and extensive logistics network. Similarly, Japan's focus on precision manufacturing in electronics and automotive sectors necessitates specialized packaging solutions, making industrial drums crucial for safe transport and storage of components and chemicals. Germany, another European powerhouse in manufacturing, relies heavily on industrial drums for its chemical, automotive, and machinery sectors. Stringent quality standards and a focus on safe transport and storage across various materials further solidify the importance of industrial drums in Germany. Notably, Germany's strategic location in Europe makes these drums even more essential for seamless cross-border logistics.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Major players in the Industrial Drum Market are 3M, TPL Plastech Ltd., Sicagen, Time Technoplast Ltd, Schütz GmbH and Co. KGaA, Balmer Lawrie and Co. Ltd, BWAY Corporation, Greif, Eagle Manufacturing Company, Orora Packaging Australia Pty Ltd and others.
Mauser Packaging Solutions ramped up its China presence in March 2023 by opening a new, cutting-edge factory near Shanghai. This strategic move positions them to meet the growing demand for industrial packaging in the region.
SCHÜTZ Container Systems significantly boosted its open-head steel drum production in the US in January 2023 with a major expansion of its Houston facility.
TPL Plastech Ltd-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 12.96 Billion |
| Market Size by 2031 | US$ 23.98 Billion |
| CAGR | CAGR of 8% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product Type (Steel Drum, Plastic Drum, Fiber Drum) • By Capacity (Up To 100 Litre, 100 To 250 Litre, 250 To 500 Litre, Above 500 Litre) • By End Use (Food & Beverages, Chemical & Fertilizers, Pharmaceuticals, Petroleum & Lubricants, Building & Construction, Paints, Inks, & Dyes, Other) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | 3M, TPL Plastech Ltd., Sicagen, Time Technoplast Ltd, Schütz GmbH and Co. KGaA, Balmer Lawrie and Co. Ltd, BWAY Corporation, Greif, Eagle Manufacturing Company, Orora Packaging Australia Pty Ltd |
| Key Drivers | • The growing focus on sustainability and heightened environmental awareness are driving significant changes across various industries. • The ongoing expansion of industries and the concentration of populations in urban centers are shaping the future of our world. |
| Challenges | • The industrial drum market faces stiff competition from a growing number of alternative packaging solutions. • Heavy industrial drums can inflate transportation costs, pushing companies, especially those shipping long distances, towards lighter packaging options. |
Ans: The Industrial Drum Market is expected to grow at a CAGR of 8%.
Ans: The Industrial Drum Market size was USD 12.96 billion in 2023 and is expected to Reach USD 23.98 billion by 2031.
Ans: The growing focus on sustainability and heightened environmental awareness are driving significant changes across various industries.
Ans: High upfront costs for industrial drums, especially customized ones, can be a hurdle for budget-conscious start-ups and SMEs.
Ans: The Asia-Pacific region held the largest market share and will continue to dominate the market.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Industrial Drum Market Segmentation, By Product Type
9.1 Introduction
9.2 Trend Analysis
9.3 Steel Drum
9.4 Plastic Drum
9.5 Fiber Drum
10. Industrial Drum Market Segmentation, By Capacity
10.1 Introduction
10.2 Trend Analysis
10.3 Up to 100 Litre
10.4 100 to 250 Litre
10.5 250 to 500 Litre
10.6 Above 500 Litre
11. Industrial Drum Market Segmentation, By End Use
11.1 Introduction
11.2 Trend Analysis
11.3 Food & Beverages
11.4 Chemical & Fertilizers
11.5 Pharmaceuticals
11.6 Petroleum & Lubricants
11.7 Building & Construction
11.8 Paints
11.9 Inks & Dyes
11.10 Other
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 Trend Analysis
12.2.2 North America Industrial Drum Market By Country
12.2.3 North America Industrial Drum Market By Product Type
12.2.4 North America Industrial Drum Market By Capacity
12.2.5 North America Industrial Drum Market By End Use
12.2.6 USA
12.2.6.1 USA Industrial Drum Market By Product Type
12.2.6.2 USA Industrial Drum Market By Capacity
12.2.6.3 USA Industrial Drum Market By End Use
12.2.7 Canada
12.2.7.1 Canada Industrial Drum Market By Product Type
12.2.7.2 Canada Industrial Drum Market By Capacity
12.2.7.3 Canada Industrial Drum Market By End Use
12.2.8 Mexico
12.2.8.1 Mexico Industrial Drum Market By Product Type
12.2.8.2 Mexico Industrial Drum Market By Capacity
12.2.8.3 Mexico Industrial Drum Market By End Use
12.3 Europe
12.3.1 Trend Analysis
12.3.2 Eastern Europe
12.3.2.1 Eastern Europe Industrial Drum Market By Country
12.3.2.2 Eastern Europe Industrial Drum Market By Product Type
12.3.2.3 Eastern Europe Industrial Drum Market By Capacity
12.3.2.4 Eastern Europe Industrial Drum Market By End Use
12.3.2.5 Poland
12.3.2.5.1 Poland Industrial Drum Market By Product Type
12.3.2.5.2 Poland Industrial Drum Market By Capacity
12.3.2.5.3 Poland Industrial Drum Market By End Use
12.3.2.6 Romania
12.3.2.6.1 Romania Industrial Drum Market By Product Type
12.3.2.6.2 Romania Industrial Drum Market By Capacity
12.3.2.6.4 Romania Industrial Drum Market By End Use
12.3.2.7 Hungary
12.3.2.7.1 Hungary Industrial Drum Market By Product Type
12.3.2.7.2 Hungary Industrial Drum Market By Capacity
12.3.2.7.3 Hungary Industrial Drum Market By End Use
12.3.2.8 Turkey
12.3.2.8.1 Turkey Industrial Drum Market By Product Type
12.3.2.8.2 Turkey Industrial Drum Market By Capacity
12.3.2.8.3 Turkey Industrial Drum Market By End Use
12.3.2.9 Rest of Eastern Europe
12.3.2.9.1 Rest of Eastern Europe Industrial Drum Market By Product Type
12.3.2.9.2 Rest of Eastern Europe Industrial Drum Market By Capacity
12.3.2.9.3 Rest of Eastern Europe Industrial Drum Market By End Use
12.3.3 Western Europe
12.3.3.1 Western Europe Industrial Drum Market By Country
12.3.3.2 Western Europe Industrial Drum Market By Product Type
12.3.3.3 Western Europe Industrial Drum Market By Capacity
12.3.3.4 Western Europe Industrial Drum Market By End Use
12.3.3.5 Germany
12.3.3.5.1 Germany Industrial Drum Market By Product Type
12.3.3.5.2 Germany Industrial Drum Market By Capacity
12.3.3.5.3 Germany Industrial Drum Market By End Use
12.3.3.6 France
12.3.3.6.1 France Industrial Drum Market By Product Type
12.3.3.6.2 France Industrial Drum Market By Capacity
12.3.3.6.3 France Industrial Drum Market By End Use
12.3.3.7 UK
12.3.3.7.1 UK Industrial Drum Market By Product Type
12.3.3.7.2 UK Industrial Drum Market By Capacity
12.3.3.7.3 UK Industrial Drum Market By End Use
12.3.3.8 Italy
12.3.3.8.1 Italy Industrial Drum Market By Product Type
12.3.3.8.2 Italy Industrial Drum Market By Capacity
12.3.3.8.3 Italy Industrial Drum Market By End Use
12.3.3.9 Spain
12.3.3.9.1 Spain Industrial Drum Market By Product Type
12.3.3.9.2 Spain Industrial Drum Market By Capacity
12.3.3.9.3 Spain Industrial Drum Market By End Use
12.3.3.10 Netherlands
12.3.3.10.1 Netherlands Industrial Drum Market By Product Type
12.3.3.10.2 Netherlands Industrial Drum Market By Capacity
12.3.3.10.3 Netherlands Industrial Drum Market By End Use
12.3.3.11 Switzerland
12.3.3.11.1 Switzerland Industrial Drum Market By Product Type
12.3.3.11.2 Switzerland Industrial Drum Market By Capacity
12.3.3.11.3 Switzerland Industrial Drum Market By End Use
12.3.3.1.12 Austria
12.3.3.12.1 Austria Industrial Drum Market By Product Type
12.3.3.12.2 Austria Industrial Drum Market By Capacity
12.3.3.12.3 Austria Industrial Drum Market By End Use
12.3.3.13 Rest of Western Europe
12.3.3.13.1 Rest of Western Europe Industrial Drum Market By Product Type
12.3.3.13.2 Rest of Western Europe Industrial Drum Market By Capacity
12.3.3.13.3 Rest of Western Europe Industrial Drum Market By End Use
12.4 Asia-Pacific
12.4.1 Trend Analysis
12.4.2 Asia-Pacific Industrial Drum Market By Country
12.4.3 Asia-Pacific Industrial Drum Market By Product Type
12.4.4 Asia-Pacific Industrial Drum Market By Capacity
12.4.5 Asia-Pacific Industrial Drum Market By End Use
12.4.6 China
12.4.6.1 China Industrial Drum Market By Product Type
12.4.6.2 China Industrial Drum Market By Capacity
12.4.6.3 China Industrial Drum Market By End Use
12.4.7 India
12.4.7.1 India Industrial Drum Market By Product Type
12.4.7.2 India Industrial Drum Market By Capacity
12.4.7.3 India Industrial Drum Market By End Use
12.4.8 Japan
12.4.8.1 Japan Industrial Drum Market By Product Type
12.4.8.2 Japan Industrial Drum Market By Capacity
12.4.8.3 Japan Industrial Drum Market By End Use
12.4.9 South Korea
12.4.9.1 South Korea Industrial Drum Market By Product Type
12.4.9.2 South Korea Industrial Drum Market By Capacity
12.4.9.3 South Korea Industrial Drum Market By End Use
12.4.10 Vietnam
12.4.10.1 Vietnam Industrial Drum Market By Product Type
12.4.10.2 Vietnam Industrial Drum Market By Capacity
12.4.10.3 Vietnam Industrial Drum Market By End Use
12.4.11 Singapore
12.4.11.1 Singapore Industrial Drum Market By Product Type
12.4.11.2 Singapore Industrial Drum Market By Capacity
12.4.11.3 Singapore Industrial Drum Market By End Use
12.4.12 Australia
12.4.12.1 Australia Industrial Drum Market By Product Type
12.4.12.2 Australia Industrial Drum Market By Capacity
12.4.12.3 Australia Industrial Drum Market By End Use
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Industrial Drum Market By Product Type
12.4.13.2 Rest of Asia-Pacific Industrial Drum Market By Capacity
12.4.13.3 Rest of Asia-Pacific Industrial Drum Market By End Use
12.5 Middle East & Africa
12.5.1 Trend Analysis
12.5.2 Middle East
12.5.2.1 Middle East Industrial Drum Market By Country
12.5.2.2 Middle East Industrial Drum Market By Product Type
12.5.2.3 Middle East Industrial Drum Market By Capacity
12.5.2.4 Middle East Industrial Drum Market By End Use
12.5.2.5 UAE
12.5.2.5.1 UAE Industrial Drum Market By Product Type
12.5.2.5.2 UAE Industrial Drum Market By Capacity
12.5.2.5.3 UAE Industrial Drum Market By End Use
12.5.2.6 Egypt
12.5.2.6.1 Egypt Industrial Drum Market By Product Type
12.5.2.6.2 Egypt Industrial Drum Market By Capacity
12.5.2.6.3 Egypt Industrial Drum Market By End Use
12.5.2.7 Saudi Arabia
12.5.2.7.1 Saudi Arabia Industrial Drum Market By Product Type
12.5.2.7.2 Saudi Arabia Industrial Drum Market By Capacity
12.5.2.7.3 Saudi Arabia Industrial Drum Market By End Use
12.5.2.8 Qatar
12.5.2.8.1 Qatar Industrial Drum Market By Product Type
12.5.2.8.2 Qatar Industrial Drum Market By Capacity
12.5.2.8.3 Qatar Industrial Drum Market By End Use
12.5.2.9 Rest of Middle East
12.5.2.9.1 Rest of Middle East Industrial Drum Market By Product Type
12.5.2.9.2 Rest of Middle East Industrial Drum Market By Capacity
12.5.2.9.3 Rest of Middle East Industrial Drum Market By End Use
12.5.3 Africa
12.5.3.1 Africa Industrial Drum Market By Country
12.5.3.2 Africa Industrial Drum Market By Product Type
12.5.3.3 Africa Industrial Drum Market By Capacity
12.5.3.4 Africa Industrial Drum Market By End Use
12.5.3.5 Nigeria
12.5.3.5.1 Nigeria Industrial Drum Market By Product Type
12.5.3.5.2 Nigeria Industrial Drum Market By Capacity
12.5.3.5.3 Nigeria Industrial Drum Market By End Use
12.5.3.6 South Africa
12.5.3.6.1 South Africa Industrial Drum Market By Product Type
12.5.3.6.2 South Africa Industrial Drum Market By Capacity
12.5.3.6.3 South Africa Industrial Drum Market By End Use
12.5.3.7 Rest of Africa
12.5.3.7.1 Rest of Africa Industrial Drum Market By Product Type
12.5.3.7.2 Rest of Africa Industrial Drum Market By Capacity
12.5.3.7.3 Rest of Africa Industrial Drum Market By End Use
12.6 Latin America
12.6.1 Trend Analysis
12.6.2 Latin America Industrial Drum Market By country
12.6.3 Latin America Industrial Drum Market By Product Type
12.6.4 Latin America Industrial Drum Market By Capacity
12.6.5 Latin America Industrial Drum Market By End Use
12.6.6 Brazil
12.6.6.1 Brazil Industrial Drum Market By Product Type
12.6.6.2 Brazil Industrial Drum Market By Capacity
12.6.6.3 Brazil Industrial Drum Market By End Use
12.6.7 Argentina
12.6.7.1 Argentina Industrial Drum Market By Product Type
12.6.7.2 Argentina Industrial Drum Market By Capacity
12.6.7.3 Argentina Industrial Drum Market By End Use
12.6.8 Colombia
12.6.8.1 Colombia Industrial Drum Market By Product Type
12.6.8.2 Colombia Industrial Drum Market By Capacity
12.6.8.3 Colombia Industrial Drum Market By End Use
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Industrial Drum Market By Product Type
12.6.9.2 Rest of Latin America Industrial Drum Market By Capacity
12.6.9.3 Rest of Latin America Industrial Drum Market By End Use
13. Company Profiles
13.1 3M
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 TPL Plastech Ltd.
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Sicagen
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Time Technoplast Ltd
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Schütz GmbH and Co. KGaA
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Balmer Lawrie and Co. Ltd
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 BWAY Corporation
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Greif
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Eagle Manufacturing Company
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Orora Packaging Australia Pty Ltd
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Awnings Market size was USD 9006.90 million in 2023 and is expected to Reach USD 14906.39 million by 2031 and grow at a CAGR of 6.5% over the forecast period of 2024-2031.
The Industrial Drum Market size was USD 12.96 billion in 2023 and is expected to Reach USD 23.98 billion by 2031 and grow at a CAGR of 8% over the forecast period of 2024-2031.
The Inclusive Packaging Market is rapidly growing, spurred by a focus on accessibility and convenience for diverse consumer groups, including those with disabilities and the elderly.
The Edible Packaging Market size was USD 960.84 million in 2023 and is expected to Reach USD 1474.59 million by 2031 and grow at a CAGR of 5.5% over the forecast period of 2024-2031.
The High Density Polyethylene Bottles (HDPE) Market size was USD 52.5 billion in 2022 and is expected to Reach USD 69.67 billion by 2030 and grow at a CAGR of 4.6 % over the forecast period of 2023-2030.
The Airless Packaging Market size was USD 5.75 billion in 2022 and is expected to Reach USD 9.30 billion by 2030 and grow at a CAGR of 6.2 % over the forecast period of 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
