Steeling defences: The industry is competing with alternative materials and cheaper imports

Steel drums and similar containers are used to protect, preserve and distribute raw materials and finished goods. Operating conditions in the Steel Drum and Similar Containers Manufacturing industry have been challenging in recent years, due to declining demand and increased competition from substitute products and imported steel containers. Operators have struggled to compete in this market, as rising steel prices have further constrained margins and have forced some smaller firms out of the market. Greif UK has continued to dominate the industry, despite revenue falling over the past five years, and has explored new opportunities by opening a reconditioning wash plant. Industry revenue is expected to fall at a compound annual rate of more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24

Industry Threats & Opportunities

  • The fall in the value of the pound since the EU referendum has stimulated growth in exports
  • The weak value of the pound since the EU referendum has supported export revenue
  • Revenue is expected to fall as downstream consumers opt to re-use drums to cut costs
  • Industry Report - Industry Investment Chapter

    The industry has a moderate level of capital intensity. Capital intensity varies according to the scale of a company’s operations. Larger operators can generate economies of scale that bring down depreciation and wage costs per unit of production. Smaller operators tend to be more labour intensive as they usually operate shorter production runs, requiring more retooling, and are less likely to use state-of-the-art, high-volume production lines.Steel drum and similar container manufacturers are estimated to spend an average of £7.66 on wages for every £1.00 that they spend on depreciable assets. Increased wage costs have contributed to a slight fall in the level of capital intensity over the five years through 2018-19. Alt...purchase to read more.

    Additional Insights for the Steel Drum & Similar Container Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Steel Drum & Similar Container Manufacturing Industry are

  • Ability to pass on cost increases
  • Effective cost controls
  • Having links with suppliers
  • IBISWorld analysts also discuss how external factors such as Industrial production index and World price of steel in the Steel Drum & Similar Container Manufacturing industry impact industry performance..

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    What's in this report

    What is the Steel Drum & Similar Container Manufacturing Industry?

    The Steel Drum and Similar Container Manufacturing industry includes operators that manufacture steel pails, cans, drums, buckets and boxes. It does not cover companies that manufacture metal tanks and reservoirs.

    Industry Products
  • 210-litre steel drums
  • Other steel drums
  • Other steel containers
  • Industry Activities
  • Manufacturing pails
  • Manufacturing cans
  • Manufacturing drums
  • Manufacturing buckets
  • Manufacturing boxes
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Industrial production index
  • World price of steel
  • Business confidence index
  • Demand from organic basic chemical manufacturing

  • Current Performance
  • Competitive pressures
  • Dwindling demand
  • International competition
  • Rising input costs
  • Chart: Revenue Growth

  • Industry Outlook
  • Downstream activity
  • Competitive pressure
  • International trade
  • Profit performance
  • Table: Steel Drum & Similar Container Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Steel Drum & Similar Container Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Basic Steel Processing

  • Key Selling Industries
  • Dye & Pigment Manufacturing
  • Fertiliser & Nitrogen Compound Manufacturing
  • Inorganic Basic Chemical Manufacturing
  • Manufacture of Oil-Based Lubricating Oils or Greases
  • Organic Basic Chemical Manufacturing
  • Paint, Coatings & Printing Ink Manufacturing
  • Pesticide & Other Agrochemical Manufacturing
  • Petroleum Refining
  • Primary Form Plastics Manufacturing

  • Products & Services
  • 210-litre steel drums
  • Other steel drums
  • Other steel containers
  • Chart: Steel Drum & Similar Container Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Lubricants, oils and additives producers
  • Chemical manufacturers
  • Agricultural industry
  • Waste management and disposal services
  • Pharmaceuticals manufacturers
  • Chart: Major Market Segmentation for the Steel Drum & Similar Container Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Steel Drum & Similar Container Manufacturing

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Steel Drum & Similar Container Manufacturing Industry

  • Industry Globalization
    Greif UK Ltd, The Metal Drum Company Ltd,
  • Table: Greif UK Ltd - financial performance
  • Table: The Metal Drum Company Ltd - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Steel Drum & Similar Container Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Steel Drum & Similar Container Manufacturing Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • A device and technique used to close or seal a container.
  • Thermal Oxidation
  • A process used to remove residues when reconditioning drums.
  • Tinplate
  • A form of tin-coated steel used to manufacture some types of steel drums.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Steel Drum & Similar Container Manufacturing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

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    This report on Steel Drum & Similar Container Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Steel Drum & Similar Container Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

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