Steel Drum & Similar Container Manufacturing in the UK - Market Research Report (2014-2029)
London, United Kingdom
Last Updated: August 2024
SIC C25.910Revenue
£197.5m
Past 5-Year Growth
Profit
£X.Xm
Employees
495
Businesses
27
Wages
£XX.Xm
Steel Drum & Similar Container Manufacturing in the UK industry analysis
Steel drums are a staple of industrial packaging, used to store and transport bulk quantities of more products than mentionable. According to international regulations, steel drums are made of heavy-duty steel to be durable and corrosion-resistant. The most common steel drum size is 55 gallons (210 litres), designed with a removable top and a bottom opening for draining or dispensing. The Steel Drum and Similar Container Manufacturing industry's revenue is expected to contract at a compound annual rate of 2.2% over the five years through 2024-25. This is owing to the significant damage COVID-19 caused to downstream manufacturers, limiting the need for steel drums and containers. However, the industry benefitted from the swift recovery of downstream buyers like those in the food and drink sectors, while other downstream markets remained constrained due to high inflation and interest rates through 2022-23 and 2023-24.
Trends and Insights
- Import competition threatens domestic manufacturers. Steel drum makers in the UK face stiff competition from cheaper imports, especially from China, which benefits from lower steel prices and production expenses, tilting the scale in their favour.
- Price-based competition shapes the 210-litre steel drum market. Manufacturers globally conform to the standard size, escalating price competition as differentiation becomes hard for these commonly used containers.
- The West Midlands bolsters steel drum production. This is achieved through its expansive manufacturing base, majoring in metal products and transport equipment, generating local demand for steel containers.
- Limited differentiation and high capital intensity shape the sector. The uniformity in product specifications coupled with substantial investment in automation, particularly for larger producers, define the operational aspects of the industry.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 2.2 % over the past five years, to reach an estimated £197.5m in 2024.
Trends and Insights
Volatile steel prices ballon steel drum manufacturers’ revenue
- Steel prices dropped considerably in 2019-20 and again in 2020-21 as global steel demand fell due to COVID-19. Prices then soared to twice the historical average in 2022-23 as manufacturing activity in China picked up, fuelling the need for steel products. The surge in prices caused steel drum manufacturers’ revenue to swell as they passed on the cost increases to clients.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The recovery of industrial activity will support sales of steel drums
- While the Russian invasion of Ukraine initially caused energy prices to soar, they have since steadily declined, supporting a recovery in industrial production and the need for steel containers and drums.
Biggest companies in the Steel Drum & Similar Container Manufacturing in the UK
| Company | Market Share (%)
2025 | Revenue (£m)
2025 |
|---|---|---|
Greif UK Ltd | 43.7 | |
The Metal Drum Company Ltd | 16.6 | |
Briggs of Burton plc | 11.1 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including 210-litre steel drums, Other steel drums and Other steel containers. 210-litre steel drums is the largest segment of the Steel Drum & Similar Container Manufacturing in the UK.
Trends and Insights
Manufacturers of 210-litre steel drums are forced to differentiate based on price
- The 210-litre drum is the global industry standard size for steel drums. The drums can be used to carry virtually anything that can be poured, from foodstuffs to hazardous chemicals.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Light Metal Packaging Manufacturing in the UK
- Fabricated Metal Product Repair & Maintenance in the UK
Complementors
- Iron & Steel Manufacturing in the UK
- Light Metal Casting in the UK
International industries
- Metal Can & Container Manufacturing in the US
- Metal Can & Container Manufacturing in Canada
- Metal Drum, Can and Bin Manufacturing in Australia
Table of Contents
About this industry
Industry definition
The Steel Drum and Similar Container Manufacturing industry includes companies that manufacture steel pails, cans, drums, buckets, barrels, churns, kegs and boxes of iron or steel.
What's included in this industry?
210-litre steel drumsOther steel drumsOther steel containersCompanies
Greif UK LtdThe Metal Drum Company LtdBriggs of Burton plcPurchase this report to view all 4 major companies in this industry.
Related Terms
TINPLATETHERMAL OXIDATIONCLOSUREIndustry Code
SIC 25.91 - Steel Drum & Similar Container Manufacturing in the UK
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Import competition threatens domestic manufacturers. Steel drum makers in the UK face stiff competition from cheaper imports, especially from China, which benefits from lower...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Price-based competition shapes the 210-litre steel drum market. Manufacturers globally conform to the standard size, escalating price competition as differentiation becomes h...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The West Midlands bolsters steel drum production. This is achieved through its expansive manufacturing base, majoring in metal products and transport equipment, generating lo...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Limited differentiation and high capital intensity shape the sector. The uniformity in product specifications coupled with substantial investment in automation, particularly ...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Greif UK grows due to innovative product expansion. By diversifying its product range to include tight-head and open-head drums in 2018, Greif successfully broadened its cust...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Greif UK Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of The Metal Drum Company Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Briggs of Burton plc's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Greif UK Ltd, and factors influencing its performance in the industry
- Description and key data for The Metal Drum Company Ltd, and factors influencing its performance in the industry
- Description and key data for Briggs of Burton plc, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Complying with regulations for containers. Manufacturers need to meet stringent UK and UN regulations, ensuring their steel drums safely contain both everyday and hazardous s...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Steel volatility dampens profit. High steel prices, triggered by supply chain disruptions and China's demand, coupled with energy costs, slashed profit. However, profitabilit...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2018-2022)
- Coverage Ratios (2018-2022)
- Leverage Ratios (2018-2022)
- Operating Ratios (2018-2022)
- Assets (2018-2022)
- Liabilities (2018-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the UK include:
- Office for National Statistics
- Office for Budget Responsibility
- Bank of England
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Steel Drum & Similar Container Manufacturing in the UK industry in United Kingdom in 2024?
The market size of the Steel Drum & Similar Container Manufacturing in the UK industry in United Kingdom is £197.5m in 2024.
How many businesses are there in the Steel Drum & Similar Container Manufacturing in the UK industry in 2024?
There are 27 businesses in the Steel Drum & Similar Container Manufacturing in the UK industry in United Kingdom, which has declined at a CAGR of 0.0 % between 2019 and 2024.
Has the Steel Drum & Similar Container Manufacturing in the UK industry in United Kingdom grown or declined over the past 5 years?
The market size of the Steel Drum & Similar Container Manufacturing in the UK industry in United Kingdom has been declining at a CAGR of 2.2 % between 2019 and 2024.
What is the forecast growth of the Steel Drum & Similar Container Manufacturing in the UK industry in United Kingdom over the next 5 years?
Over the next five years, the Steel Drum & Similar Container Manufacturing in the UK industry in United Kingdom is expected to grow.
What are the biggest companies in the Steel Drum & Similar Container Manufacturing in the UK market in United Kingdom?
The biggest companies operating in the Steel Drum & Similar Container Manufacturing market in United Kingdom are Greif UK Ltd, The Metal Drum Company Ltd and Briggs of Burton plc
What does the Steel Drum & Similar Container Manufacturing in the UK in United Kingdom include?
210-litre steel drums and Other steel drums are part of the Steel Drum & Similar Container Manufacturing in the UK industry.
Which companies have the highest market share in the Steel Drum & Similar Container Manufacturing in the UK in United Kingdom?
The company holding the most market share in United Kingdom is Greif UK Ltd.
How competitive is the Steel Drum & Similar Container Manufacturing in the UK industry in United Kingdom?
The level of competition is high and increasing in the Steel Drum & Similar Container Manufacturing in the UK industry in United Kingdom.
