Global Drum Liners Market 2018-2022
About this market
Architectural and decorative as well as industrial painting and coating are the key contributing segments of global paints and coatings market. The growing industrial production and residential constructions are the key driving factors of the market. In addition, the growing economic performance of emerging and developing markets is encouraging the players in the global paints and coating markets to provide a premium product to increase their profit margin. The market is also viable for the vendors to achieve high volume sales as the distribution supply chain consists of many dealers and sub-dealers. In addition, the manufacturers can easily transfer the cost burden to the end-customer due to the necessity of the product in the market. This growth of the global paints and coatings market is expected to raise the demand for drum liners as they can help paint manufacturers to reuse the drums as a part of sustainable business operations. Technavio’s analysts have predicted that the drum liners market will register a CAGR of almost 3% by 2022.
Growing global adhesive market
The growing manufacturing output of motor vehicles, electronics, packaging, tapes, labels, and footwear is expected to fuel the growth of the global adhesive market. Vendors are also coming up with smart adhesives for sophisticated applications such as light weighting and insulation. The growth of the global adhesive market is expected to drive the demand for drum liners to increase the utility of drums.
Fluctuating global trade growth
The global drum liners market is highly dependent on the growth of trade worldwide. The fluctuation in global trade will have a direct impact on the growth of the global drum liners market. The fluctuations in trade are mainly due to macroeconomic factors such as inflation, economic growth, currency strengthening, and others.
For the detailed list of factors that will drive and challenge the growth of the drum liners market during the 2018-2022, view our report.
The drum liners market is highly fragmented competitive environment among the players is intense. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Drum Liners Market 2018-2022
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the growth of the global chemical industry during the forecast period will drive the demand for drums and barrels.”
According to the report, one of the major drivers for this market is the growth of the global adhesive market is expected to drive the demand for drum liners to increase the utility of drums.
Further, the report states that one of the major factors hindering the growth of this market is the increased demand for reducing the use of conventional plastics will drive drum liner manufacturers to invest in R&D activities to develop sustainable products.
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