According to Future Market Insights (FMI), India steel drum market size is forecast to increase from USD 281.2 million in 2023 to USD 468.7 million by 2033. Similarly, India’s IBC market is likely to expand from USD 170.5 million in 2023 to USD 260.5 million by 2033.

Overall demand for steel drums and IBCs across India is projected to surge at 4.6% and 3.8% CAGRs respectively from 2023 to 2033. Rising trade activities along with expansion of chemical industry is a key factor driving India steel drums & IBC market.