“data-reactid =” 13 “> LOS ANGELES, April 9, 2020 (GLOBE NEWSWIRE) – Acumen Research and Consulting, a global provider of market research, in a recently released report titled”Industrial bucket market Size, share of the company, revenues, growth opportunities, trends and forecasts, 2020 – 2027 ”.
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An industrial bucket refers to containers in a cylindrical structure with straight or angled sides and usually with a bail or a handle for easy handling. These are made up of different types of materials, including polyethylene, polypropylene, steel, aluminum and tin. Basically, it’s a technical term for buckets used for industrial purposes. The global industrial bucket market is segmented by material type, capacity and end user. The capacity range starts from 1 gal to 13 gal. By the end user, the global industrial bucket market is divided into agriculture, chemicals, pharmaceuticals, food and beverages, petrochemicals, construction and construction, plastics and rubber, automobiles and mines and metals.
By type of material, industrial buckets made with high density polyethylene dominate the world market of industrial buckets with a significant share. The properties associated with high density polyethylene, such as excellent toughness and cut & wear as well as very good chemical resistance support the market value. In addition, stackable buckets made of high density polyethylene are available on the market with effortless handling and a recessed lip. Manufacturers also provide buckets to comply with USDA specifications and FDA compliance. Easy storage and shipping thanks to the tapered body that allows one bucket to fit into another also propels market growth.
In 2019, Asia-Pacific held the largest share of the global industrial bucket market and is expected to lead the estimated period. The market is also expected to experience the fastest growth over the forecast period. The increase in exports from emerging economies such as China and India largely supports market value. Growing industrialization and urbanization, combined with increased consumer spending and changing lifestyles, also contribute to the value of the regional market. However, the availability of substitutes such as cans and bottles is expected to hinder growth to some extent in the regional market over the forecast period.
Some of the main competitors are Balmer Lawrie & Co. Ltd, Delta Containers Direct Limited, FDL Packaging Group, Fibrestar Drums Ltd, Grief Inc., Industrial Container Services, Mauser Group BV, Orora Packaging Australia Pty Ltd, SCHÜTZ GmbH & Co., and Sonoco. Major industrial bucket companies have announced mergers and acquisitions to expand their position in the industrial bucket industry. The main players are also moving into new regions or advanced technologies to gain a competitive advantage.
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