A comprehensive analysis on the Bulk Container Packaging market by Future Market Insights (FMI) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Product, Material, End Use and Region over the next 9-years.
DUBAI, UAE, March 9, 2022 /PRNewswire/ -- Future Market Insights (FMI), Dubai: The global bulk container packaging market is slated to witness a stellar CAGR of 6.3% between 2022 and 2031, reaching US$ 34.1 Bn by the year 2031.
Bulk Container Packaging Market Size (2022) | US$ 18 Bn |
Projected Market Value (2031) | US$ 34.1 Bn |
Global Market Growth Rate (2022-2031) | 6.3% CAGR |
Collective Value Share: Top 5 Companies (2022E) | 15% |
Bulk container packaging demand remained lackluster in 2020, mimicking the broader sluggishness in global economy. However, as revival commences, bulk container packaging manufacturers can expect sales to grow, albeit reaching pre-COVID levels will take some time.
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Key Takeaways
- Bulk container packaging market is estimated to expand ~1.6 times of current market value through 2031
- Bulk container segment is expected to hold more than 4/5th value share; flextanks segment catching up
- Increasing preference for easy to carry containers bolstering demand for plastic bulk containers
- Industrial chemicals segment to hold nearly 45% value share
- China to emerge as a highly lucrative market, contributing nearly 30% of the revenue share by 2021-end
"Bulk containers are gaining traction day by day in chemical and food & beverage and owing to the increasing demand for flexitanks for transporting non-hazardous chemicals and food ingredients, also penetrating transportation process." says an FMI analyst.
Safety Concerns in Chemical Industry Amplifying Demand for RIBC (Rigid Intermediate Bulk Containers)
Rigid IBC (RIBC) is made of a plastic bottle, a metal cage, and a spout for easy emptying process of materials, which is mainly used during transportation. The well-built plastic liner inside the container helps in keeping the respective products safe while transporting and the metal cage makes the container sturdy enough to be stacked. The rigid IBC mainly carries liquids and is optimized to prevent the respective product from spilling at the time of transport.
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RIBC manufacturers are adopting business strategies for the development of innovative products to boost the growth of the RIBC in the market. Many players have invested in producing technically advanced containers for the sake of products safety. Companies have produced tracking-enabling system-equipped bulk containers to allow customers to know the status of their respective products directly. Some key players involved in R&D activity of RFID enabled IBCs are CHEP (U.S.A.) Inc, Metano IBC Services, Inc, Hoyer Group etc.
Bulk Container Packaging Market Landscape
The bulk container packaging market is fragmented and the Tier 1 players in the market hold 40-45% share in the global bulk container packaging market.
Greif, Inc., Berry Global, Inc., Sealed Air Corporation, DS Smith Plc, Mondi Group, Bemis Company, Inc., International Paper Company, Winpak Ltd, Mauser Group B.V, Hoover Ferguson Group, Braid Logistics (UK) Limited, Qingdao LAF Packaging Co. Ltd., My Flexitank Industries Sdn Bhd, SIA Flexitanks Limited, Environmental Packaging Technologies, Inc., Snyder Industries, Inc, Schuetz GmbH & Co. KGaA, Büscherhoff Spezialverpackung GmbH & Co. KG, Bulk Lift International, Inc, Shandong Anthente New Materials Technology Co.,Ltd are some of the prominent players in the bulk container packaging market.
Key Segments Covered In Bulk Container Packaging Industry Research
Product:
- Flexitanks
- Bulk Containers
- Flexible Bulk Containers
- Rigid Bulk Containers
- Bulk Container Liners
Material:
- Plastic
- HDPE
- LDPE
- LLDPE
- PP
- PVC
- Others
- Metals
- Others (Wood, Fiber, Paper Board)
End Use:
- Industrial Chemicals
- Petroleum and Lubricants
- Food and Beverages
- Paints, Inks and Dyes
- Pharmaceutical
- Others
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Key Questions Answered in the Report
- How much is the Bulk Container Packaging market currently worth?
- What is the sales forecast for Bulk Container Packaging through 2031?
- What was last 5-year market CAGR for the sales of Bulk Container Packaging?
- Who are the key manufacturing companies for Bulk Container Packaging?
- What's with "Bulk Container Liners"?
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