SAN FRANCISCO, Jan. 18, 2023 /PRNewswire/ -- The global intermediate bulk container market size is expected to surpass USD 21.1 Billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.2% from 2022 to 2030. The factors attributed to driving the market are the rapid expansion of the industrial sector across the globe such as rising food and pharmaceutical industries, followed by manufacturing and construction industries in emerging economies such as China and India. However, the key raw materials required for the manufacturing of flexible intermediate bulk containers are HDPE and Polypropylene which varies with the price of crude oil.
Key Industry Insights & Findings from the report:
- In terms of revenue, the plastic segment is projected to ascend at a CAGR of 5.4% during the forecast period. Plastic IBCs are ideal for transporting liquids and semi-liquid products without leakage and are highly compatible with toxic chemicals.
- The chemicals & petroleum product segment accounted for 37.4% of revenue share in 2021. IBCs are important packaging solutions for the chemicals and petroleum industry as IBCs can store toxic or flammable chemicals safely. Avoiding expensive accidents such as impacting production workers' health, fire incidents, or environmental pollution.
- Asia Pacific held the largest market share in 2021. IBC is used across the globe with significant consumption in China. Factors including the presence of the world's largest chemical market, rapid industrialization, and increasing manufacturing activities in the Asia Pacific are also driving the market for IBCs.
- The market of IBCs is highly competitive and fragmented with a strong presence of local and global companies such as Mondi Group, Mauser, and Grief Packaging.
Read 140 page full market research report, "Intermediate Bulk Container Market Size, Share & Trends Analysis Report By Material (Plastic, Metal, Corrugated), By End-use (Food, Chemicals & Petroleum, Pharmaceuticals, Others), By Region And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Intermediate Bulk Container Market Growth & Trends
IBCs are widely adopted in a large number of manufacturing companies on account of their associated benefits. As safety is a priority in the mining industry, IBCs are preferred for the movement of minerals. Similarly, in the construction industry, the movement of sand, granules, and other flowable materials is handled efficiently with the use of IBCs. The product is an ideal means of packaging sand, liquid, and conductive materials.
In Asia Pacific, per capita income in China and India is witnessing a rise. This increased spending capability is driving growth in the construction industry. The growing rate of Foreign Direct Investment (FDI) in India is a key factor contributing to the growth of the construction sector. China is known as the manufacturing hub of the world. Thus, rising purchasing power in this developing country is also leading to the significant growth of the manufacturing industry. The growth of the construction and manufacturing sectors is propelling the demand for intermediate bulk packaging.
However, the key raw materials required for the production of flexible intermediate bulk containers are polypropylene and low-density polyethylene, both of which are derived from crude oil. Therefore, on account of fluctuating crude oil prices, the profit margin for the manufacturing companies and the distributors also keeps varying. This discourages manufacturers and distributors, thereby acting as a major restraint to the growth of the global flexible intermediate bulk packaging market.
Intermediate Bulk Container Market Segmentation
Grand View Research has segmented the global intermediate bulk container market based on material, end-use, and region:
Intermediate Bulk Container Market - Material Outlook (Revenue, USD Million, 2017 - 2030)
- Plastic
- Metal
- Corrugated
Intermediate Bulk Container Market - End-Use Outlook (Revenue, USD Million, 2017 - 2030)
- Food
- Chemicals & Petroleum
- Pharmaceutical
- Others
- Construction
Intermediate Bulk Container Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Central & South America
- Brazil
- Middle East & Africa (MEA)
- Saudi Arabia
List of Key Players in Intermediate Bulk Container Market
- Greif, Inc.
- Mauser Packaging Solutions
- Schuetz Container System
- Synder Industries System
- Hoovers Container Solutions, Inc.
- Schafer Werke Gmbh
- DS Smith PLC.
- Mondi
- Thielmann- The Container Company
Check out more related studies published by Grand View Research:
- Flexible Intermediate Bulk Container Market - The global flexible intermediate bulk container market size is projected to reach USD 6.4 billion by 2026, progressing at a CAGR of 5.9% over the forecast period, according to a new report by Grand View Research, Inc. Growing food and pharmaceutical industries across the world and increasing need to reduce overall weight of bulk packaging are among the key factors driving the demand for flexible intermediate bulk containers.
- Bag-in-Box Container Market - The global bag-in-box container market size is projected to reach USD 6.77 billion by 2030, registering a CAGR of 6.7% over the forecast period, according to a new report by Grand View Research, Inc. The increasing consumption of alcoholic beverages has emerged as a major driving factor fueling demand for the application of bag-in-box containers in the food & beverage industry. The growth of the industry is also fueled by the shift in consumption patterns towards natural food products across the globe.
- Bags And Containers Market - The global bags and containers market size is expected to reach USD 56.86 billion by 2028, registering a CAGR of 5.6% during the forecast period, according to a new report by Grand View Research, Inc. Consumer's increased inclination for the fashionable, trendy and lightweight bags designed for travel and tourism propels the bags & containers market growth.
Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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