Drum Liners Market Higher Growth Rate / CAGR Over The Forecast Period By 2030
The drum liner market will rise at 3.9% CAGR between 2022 and 2030, finds Future Market Insights (FMI) in a new study. Drum liners find applications across diverse industries, including food & beverages (F&B), automotive, and others. FMI has predicted the demand from industrial, chemicals, & lubricants segment to rise at above 4% over the forecast period. While growth in the F&B sector is likely to happen at a decelerated pace in 2020 amid COVID-19, the demand is expected to pick up, albeit gradually 2021 onwards. Similar trend is likely across regional markets. Growth in Europe, North America, and other regions will be significantly hampered during COVID-19. However, FMI has projected the demand in East Asia and South Asia to gradually rise in 2021, gaining momentum 2022 onwards to exhibit a higher CAGR than mature markets, including North America and Europe. The rising demand in industrial production and residential constructions is expected to drive ...