According to a recent market study published by Growth Market Reports, titled, "Latin America plastic pails & buckets Market by Types, Capacity, Material type, Top/Head, End-uses industry, and Region- LATAM: Size, Share, Trends, and Opportunity Analysis, 2018-2028", the market was valued at USD 233.5 million in 2020 and is expected to expand at a CAGR of 2.8% by 2028. The plastic pails & buckets market is projected to expand at a rapid pace globally, due to its wide applications in the paints & coatings and petroleum & lubricants industries.

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Based on types, the plastic pails & buckets market is divided into rectangular, cylindrical, and others. Based on capacities, the plastic pails & buckets market is divided into up to 3 litres, between 3 and 5 litres, between 5 and 10 litres, between 10 and 20 litres, between 20 and 50 litres, and 50 litres & above. On the basis of material types, the plastic pails & buckets market is divided into HDPE, PP, PVC, LDPE, and others. In terms of top/head, the plastic pails & buckets market is categorized into with lid and without lid. On the basis of end-use industry, the plastic pails & buckets market is classified into paints & coatings, industrial chemicals, petroleum & lubricants, food & beverage, agriculture, and others. Based on regions, the global plastic pails & buckets market is fragmented into Latin America which further divided into Brazil, Mexico, Peru, Colombia, Chile, Bolivia, Rest of Latin America.

Plastic pails are durable containers that are ideal for storing large volumes of materials for the industrial, paint and coatings, petroleum, food, janitorial & sanitation industries, animal feed, and solvents industries. These are built to be tough and perform heavy-duty tasks.

As per Growth Market Reports industry analyst, Akshata Ahire, “The spread of COVID-19 has had a negative impact on the global plastic pails & buckets market players on many fronts and outside factors, including temporary fluctuation in consumer demand and potential effects on the market from an uncertain economic perspective. The COVID-19 outbreak had a substantial impact on the market, resulting in low sales and low GDP. COVID-19 caused services of various companies around the world to come to a halt in order to slow the spread of virus. The economy of numerous countries has been badly hit as a result of COVID-19 and purchasing power of companies is shrinking rapidly, due to slow commercial activity. The coronavirus pandemic revealed supply chain vulnerabilities and emphasized on the complexities of globalized supply chains and the importance of having a stable supply chain to nullify trade barricades. Key players of the Latin America plastic pails & buckets market are adopting different approaches to build robustness and resilience in supply chains, majorly through mergers & acquisitions.”

Key Takeaways from the Study:

  • The 50 liters & above segment is expected to hold a significant share of the global market, while between 5 and 10 liters segment is expected to grow at a significant pace during the forecast period.
  • The market is Brazil is prominent during the forecast period owing to increasing investments by the government for domestic production. Furthermore, a rise in the foreign direct investment (FDI) in Brazil is further expected to boost the production for plastic pails & buckets within the country.
  • On the basis of by material type, the HDPE segment held 37% value share of the market in 2020. The segment is projected to account for the largest share of the market during the forecast period. In terms of revenue, the HDPE and PP segments were valued at USD 29.3 Mn and USD 21.2 Mn, respectively, in 2020. Furthermore, the PP segment is anticipated to expand at a lucrative CAGR of 3.0% between 2021 and 2028. The Y-o-Y growth of the others segment was impeded by -1.98% due to the impact of COVID-19 pandemic between 2020 and 2021.
  • On the basis of by material type, the HDPE segment held 37% volume share of the market in 2020. The segment is projected to account for the largest share of the market during the forecast period. In terms of volume, the HDPE and PP segments stood at 5.7 Mn Units and Mn 4.1 Units, respectively, in 2020. Furthermore, the PP segment is anticipated to expand at a lucrative CAGR of 1.4% between 2021 and 2028. The Y-o-Y growth of the others segment was impeded by -1.74% due to the impact of COVID-19 pandemic between 2020 and 2021.

Report Scope:

Report Metric

Details

Market Value in 2020

USD 233.5 Million

Market Growth Rate (from 2021 to 2028)

2.8%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 – 2028

Market Segments

Types, Capacity, Material type, Top/Head, End-uses industry, and Region- LATAM

Country Scope

Brazil, Mexico, Peru, Colombia, Chile, Bolivia, Rest of Latin America

Key Companies Profiled

Berry Global Group, Inc., BWAY Corporation, Greiner AG, Plasticos AL, M&M Industries, Inc., PYMSA, TOROSQUI S. A de C.V

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Demand Side: Various industries, retailers, etc.
  • Regulatory Side: Concerned government authorities for plastic usage, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: Plastics Industry Association, American National Standards Institute, American Plastics Council