Steel Drums: Market Size & Forecast 2026

The global steel drums market reached approximately USD 4.2 billion in 2025 (base year), encompassing roughly 150 million units across new-build and reconditioned formats. The market sits in a structurally balanced state between mature North American and European replacement cycles, steady chemical and petroleum end-use demand, and raw-material cost pressure concentrated in cold-rolled steel coil (CRC), which represents 58% of finished drum cost at current benchmarks. Three forces dominate the procurement landscape: the April 2025 US Section 232 steel tariff reset to 50% (effective 6 April 2026 on full customs value), the EU CBAM definitive regime effective January 2026 raising imported steel costs by an estimated 3-7%, and a consolidated converter base where Greif and Mauser Packaging Solutions together control approximately 65% of global new-build capacity. > **Analyst Take.** The call

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