Tanks, casks, drums, boxes and similar containers for any material (excluding compressed or liquefied gas) less than 50l capacity, n.e.s. in item no. 7310.2, of iron or steel

In 2024, tanks, casks, drums, boxes and similar containers for any material (excluding compressed or liquefied gas) less than 50l capacity, n.e.s. in item no. 7310.2, of iron or steel trade exhibited slight decline, with global flows reaching $2,527,842,895 and a three-year compound annual growth rate of +0.7% (five-year: +1.2%). The all-time peak of $2,797,486,851 was recorded in 2022; the current level is 10% below that high-water mark.

Over the 30-year observation window (1995–2024), 66% of years recorded positive growth, indicating a predominantly expanding market. Trend momentum is steady (+0.4% acceleration).

The World Trade Flows Characterization classifies tanks, casks, drums, boxes and similar containers for any material (excluding compressed or liquefied gas) less than 50l capacity, n.e.s. in item no. 7310.2, of iron or steel as "One-way trade" in the high price range price segment, providing additional context for market positioning and competitive dynamics.

The supply side is diversified (Herfindahl-Hirschman Index 0.082). The three largest exporters — China ($512.7M), Italy ($275.0M), and Germany ($266.8M) — collectively dominate supply flows. The leading exporter has grown at -2.6% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.037). The three largest import markets are United States ($246.0M), France ($193.7M), and United Kingdom ($157.0M). The largest importing market sources from 82 different supplying countries.

Estimated substitution elasticity: -4.93. Buyers have moderate flexibility to shift sourcing, but face some switching costs.

The dominant trade corridor is United States → Canada at $95.5M, representing 81.6% of the importer's total demand.

The volatility score for tanks, casks, drums, boxes and similar containers for any material (excluding compressed or liquefied gas) less than 50l capacity, n.e.s. in item no. 7310.2, of iron or steel is 4 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. The diversified supply landscape means many competitors but also multiple entry points and buyer relationships to target.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.