North America Plastic Pails Market Size By Type(Round, and Square), By Application(Industrial chemicals, Paints & Coatings, Construction), By Top Head(Closed Top Head and Open Top Head), By Country And Forecast
Report ID: 270942|No. of Pages: 202
North America Plastic Pails Market Size By Type(Round, and Square), By Application(Industrial chemicals, Paints & Coatings, Construction), By Top Head(Closed Top Head and Open Top Head), By Country And Forecast
North America Plastic Pails Market Size And Forecast
North America Plastic Pails Market size was valued at USD 15,939.84 Million in 2020 and is projected to reach USD 45,401.21 Million by 2028, growing at a CAGR of 13.26% from 2021 to 2028.
The growth of the manufacturing sector and industrial production is one of the major factors driving up demand for plastic pails. The North America 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.
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What is Plastic Pails?
Plastic Pails are plastic containers with a cylinder shape that are often used for storage and handling. The term “pail” refers to a cylindrical shipping container. It typically has a volume of 3 to 50 litres. Pails often include a handle or bail for holding and slanted or straight sides. It’s the same as pail. Pails have either a closed head with a screw or an open head with removable covers. Steel, aluminium, fibre, paperboard, and plastics are among the materials used to construct them.
Plastic pails are widely utilised in a variety of sectors for shipping and transportation. Plastics have exceptional qualities such as reusability, durability, and cheap cost, which are propelling the Plastic Pails Market forward. The qualities of plastics that make it excellent for storing and transportation chemicals, coatings, paints, and numerous other industrial materials are a major factor driving the growth of plastic pails.
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North America Plastic Pails Market Overview
The growth of the manufacturing sector and industrial production is one of the major factors driving up demand for plastic pails. The regional economy has stabilized as a result of increased demand for industrial products, as well as improved infrastructure and standard of living. Plastic pails will be in high demand in the food and beverage industry in the coming decade, since they provide a handy storage solution. Due to its airtight sealability, closed lids provide safe transportation and storage. Plastic pails’ low cost is boosting the market, since merchants prefer them to traditional metal pails, tins, and steel drums.
Plastic is a synthetic material that can be easily manufactured and recycled without consuming a lot of resources. Plastics are also nearly indestructible and easily molded, which is why reuse recycling is so important. Plastics are also incredibly light, which means they can be transported without using any additional fuel. As a result, they are less expensive than other pail materials.
The adoption rate of Plastic Pails and platforms is being held back by a stringent environmental regulation against use of plastics will be the biggest barrier, which is impeding the market’s growth.
North America Plastic Pails Market: Segmentation Analysis
The North America Plastic Pails Market is segmented on the basis of Type, Application, Top Head, and Country.
North America Plastic Pails Market by Type
- Round
- Square
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Based on Type, the market is bifurcated into Round, and Square, the round plastic pails segment accounted for the largest market share in 2020, while the square plastic pails segment is projected to grow at a CAGR of 3.52% by value over the forecast period. Round plastic pails also called buckets, are manufactured in a way to be heavy-duty, and durable. They often come with a handle but do not always and can be designed according to requirements. The variety of lids make the bucket a versatile storage container. Whether the inside material is dry, liquids, chemicals oils, acids, or other demanding products, round pails are a great storage option. It will likely drive the demand for square plastic pails type segment across the forecast timeline.
North America Plastic Pails Market by Application
- Industrial chemicals
- Paints & Coatings
- Construction
- Food and Beverage
- Others
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On the basis of Application, the North America Plastic Pails Market has been segmented into Industrial chemicals, Paints & Coatings, Construction, Food and Beverage, and Others. Industrial segment accounted for the largest market share in 2020 and is projected to grow at a CAGR of 4.47% by volume during the forecast period. In chemical industrial applications, plastics are the safest packaging mode, as they prevent spillage, comes in low cost, durable and can be used for different applications and reusable. In chemical industries, there is a need to store hazardous chemicals which gets reacts with other substances very easily, by these plastic pails are made out with high quality plastic materials. The plastic pails are mostly used for storing and packaging of paints & coatings. The plastics are manufactured from High-Density Polyethylene (HDPE), which is known for its strength and durability. The plastic paints pails are one of the common pails which is recycled after its usage and are highly durable.
North America Plastic Pails Market by Top Head
- Closed Top Head
- Open Top Head
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On the basis of Top Head, the North America Plastic Pails Market has been segmented into Closed Top Head and Open Top Head. Closed Top Head segment accounted for the largest market share in 2020 and Open Top Head is projected to grow at a CAGR of 3.82% by volume during the forecast period. An open top head plastic pail is also known as an open-top plastic drum, for the simple reason that the top lid can be completely removed according to usage. It can be left open-topped, or sealed with a secure lid and fastenings for easy transportation. For storage purpose, the pails are filled from the top portion, as this is the only openings it has. It is highly demanded because of durability, resistant as well as strong enough to hold heavy materials, driving its demand across the market.
North America Plastic Pails Market by Country
- US
- Canada
- Mexico
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On the basis of Country, the North America Plastic Pails Market is classified into US, Canada, Mexico. US accounted for the largest market share in 2019. In the North America region, there has been a surge in construction and building activities that has led to increased demand for plastic pails made up of HDPE and PP. Mainly the commercial construction activities have boosted the demand for HDPE plastic pails. it can be stated that the North American region has been witnessing rapid developments in the construction space, thus leading to increased adoption of plastic pails for the packaging of construction materials.
Key Players
The major players in the market are BWAY Corporation, Fox Valley Containers, Inc., PolyPail, Paragon Manufacturing Inc., TML Industries Ltd, Great Western Containers Inc., Pro-Western Plastics, IPL Plastics Inc., Berry Global Inc. and Greif, Inc. and Others.
The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players in North America.
Key Developments
• Berry Global acquired a plastic product design and engineering company for packaging and select non-packaging markets named RPC Group Plc. The acquisition was made with an aim to emerge as a largest plastic and recycled packaging company
• Greif Inc. invested $10 million in Concord, North Carolina plant expansion. The company is expanding its CorrChoice – Concord sheet feeder operations. The expansion is also expected to create up to 30 new jobs in Cabarrus County where the CorrChoice – Concord sheet feeder is located.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2017-2028 |
| BASE YEAR | 2020 |
| FORECAST PERIOD | 2021-2028 |
| HISTORICAL PERIOD | 2017-2019 |
| UNIT | USD(MILLION) |
| KEY COMPANIES PROFILED | BWAY Corporation, Fox Valley Containers, Inc., PolyPail, Paragon Manufacturing Inc., TML Industries Ltd, Great Western Containers Inc., Pro-Western Plastics, IPL Plastics Inc., Berry Global Inc. and Greif, Inc. and Others. |
| SEGMENTS COVERED | By Type, By Application, By Top Head and By Country. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Industry Analysis Matrix
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