Sustainability Concerns Compelling IBC Market Players to Prefer Metal and Paperboard Materials
A latest market intelligence report delivers vital insights into the IBCs market, which considers the global industry analysis 2014-2018 and opportunity assessment 2019-2029. The report states global IBCs market was valued at ~US$ 19 Bn in 2018, and is projected to expand at a CAGR of ~6% during the forecast period.
The report suggests that the rise of IBCs as an efficient and cost-effective packaging solution for the shipment of various goods is expected to drive the growth of the global IBCs market in the coming years.
Among the material type, plastic is expected to be the most consumed material in the manufacturing of the IBCs, owing to its low cost and light-weight nature. However, the metal & paperboard segments are foreseen to register a notable growth rate in the coming years. On the other side, although FIBCs are significant in terms of volume, RIBC is anticipated to be highly attractive in terms of value share and growth rate in the coming years.
By content type, solid and semi-solid segments are expected to be highly attractive in terms of market share during the forecast period, owing to gradually increasing demand for food & agriculture, building and construction, and healthcare & pharmaceutical products.
Among the capacity segments, by RIBC capacity type, 1,001-1,500 litres segment is expected to remain highly attractive regarding the market share. By FIBC capacity type, 1,001 to 1,500 kg segment is a highly preferred size by various end-use industries, and is projected to grow during the forecast period. By end use, the chemical segment is expected to remain at the forefront regarding the global IBCs market share during the forecast period.
Europe is Expected to Remain at Forefront in Terms of Market Shares
The study analyses the IBCs market in numerous regions and focuses on crucial dynamics impacting the global market. It has been observed that the Europe region is expected to remain at the forefront regarding the global IBCs market share throughout the forecast period. In Europe, the IBCs market is expected to be boosted by the chemical, food & agriculture, and other end-use industries. Germany is a heavy-weight when it comes to chemical production, and is expanding at a steady growth rate. It exports most of the chemicals across the globe, which is expected to offer enormous growth opportunities for the IBCs market.
North America Likely to Register Significant Demand for IBCs in Coming Years
North America region is witnessing a sharp rise in the demand for chemical, paints, inks & dyes, and food applications. Also, increasing trade volume in North America is expected to create substantial growth opportunity for the global IBCs market. In North America, the United States is expected to remain highly attractive regarding the IBCs market share during the forecast period. Increasing industrial output stabilized manufacturing sector and growing demand for efficient industrial packaging solutions are among the factors driving the growth of IBCs market in the United States.
East Asia & South Asia Foreseen to Remain Lucrative for Growth of the IBCs Market
East Asia region has a significant global IBCs market share, and is expected to attain notable CAGR during the forecast period. In East Asia, China is foreseen to remain prominent regarding the market share by accounting ~3/4th of market share throughout the forecast period. China is home for various small to medium scale end-use industries, growing industrial output with a strong focus on exports are among the factors likely to create a significant growth opportunity for the IBCs market in the coming years. In East Asia, South Korea is expected to continue with a high growth rate of the East Asia IBCs Market.
The South Asia region is expected to be a lucrative region for the growth of the global IBCs market in the coming years. The presence of emerging economies, high growth of end-use industries, and increasing demand for industrial packaging solutions are likely to create significant demand for IBCs in South Asia region during the forecast period. In South Asia, India is expected to remain prominent regarding the IBCs market share in the next decade. This is attributed to high growth of the end-use industries coupled with an escalation in trade volume, and are expected to create a significant demand for IBCs in the coming years. The growing export and import volume among the ASEAN countries are expected to fuel the growth of the South Asia market in the coming years. Overall, the global outlook for the IBCs market is likely to remain optimistic throughout the forecast period.
IBCs Market: Vendor Insights
In this report study has presented the strategies of the key players tracked by an analysis of the current developments related to the IBCs product segments by these manufacturers. To provide a comparative analysis of the profiled manufacturers of the IBCs products, a competitive landscape is provided in the report. The key players, which have been profiled in the report on the IBCs market includes Greif, Inc., Time Technoplast Ltd., SCHÜTZ GmbH & Co. KGaA, Mauser Packaging Solutions, DS Smith Plc., Mondi Group, Berry Global, Inc., Hoover Ferguson Group, International Paper Company, Snyder Industries, Inc., Thielmann US LLC, Schafer Werke Gmbh, Bulk Lift International, Inc., Environmental Packaging Technologies, Inc., HCS Group, Transtainer, Obal Centrum s.r.o., Pensteel Ltd, SYSPAL Ltd., and SIA Flexitanks Limited, among others.
Source: Sea News
Image Courtesy: Vizag Chemicals