Intermediate Bulk Container (IBC) Market: Segmented: By Product Type (Flexitanks, Rigid Intermediate Bulk Containers, Flexible Intermediate Bulk Containers and Bulk Container Liners); By Material (Plastic and Metal); By Grade (Type A, Type B, Type C, Type D and Food Grade), By Application (Food & Beverages, Chemicals, Pharmaceuticals, petroleum, Others); By Region (North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa- Analysis of market share, size & trends for 2016-19 and forecasts to 2030
Intermediate Bulk Container Comprehensive Market is expected to grow from USD 16.1 million in 2019 to USD 31.6 million in 2030 at a CAGR of 6.30%
Intermediate Bulk Containers are used to store and transport both solid and liquid products and are made up of plastics, carbon and stainless steel, and other materials. They are gaining popularity because they are reusable, can be recycled when no longer needed, and are durable. Additionally, they are cost-effective and can be customized as per the needs of the customer.
Intermediate Bulk Container Comprehensive Market is expected to project a CAGR of 6.30% during the forecast period, 2019-2030
The overall growth in the market is driven by an increase in the number of manufacturing industries and mounting needs for containerization. Additionally, rising demand for food & beverage and petrochemicals across different areas of the country is likely to propel the growth of the industry during the forecast period. Moreover, the growth in the market is attributed to an increasing preference for packaging. Increasing Southeast Asian oil exports and increasing bulk wine trade globally will boost industrial growth.
Flexitanks to register a CAGR in the forecast period
Based on the type of product, the global intermediate bulk container market is segmented into Flexitanks, Rigid IBCs, Flexible IBCs, and Bulk container liners. The Flexitanks segment held a significant market share of USD XXXX Million in 2019 and is anticipated to register the highest CAGR of XX% in the forecast period, i.e., 2020-2030. Flexitanks are used to store oils, food, beverages, non-hazardous chemicals, etc, and are a cost-effective mode of transportation of bulky products worldwide. Moreover, they can be customized as per the requirement and are eco-friendly, leading to increased usage and popularity in the market.
Metals segment to propel the growth
Based on material, the global intermediate bulk market is bifurcated into plastics and metals.
The food & beverage segment register the highest CAGR
Based on application, the global intermediate bulk container market is grouped into Food & Beverages, chemicals, pharmaceuticals, petrochemicals, and others. This in turn increases the demand for bulk containers to ensure safe and non-contaminated transportation of food items.
An increasing number of Pharma and chemical industries
The rising number of chemical and pharmaceutical industries propel the growth of the market. These industries are major users of Intermediate bulk containers as they require storage and packaging of raw materials and even finished goods. As a result, the requirement for intermediate bulk containers also increases. Thus, the growth of the chemical and pharmaceutical industries will drive intermediate bulk container market growth.
Installation of specific liners is done inside the container, resulting in the container only being capable of use for a single type of material rather than for different contents. This element will serve as a restraint in this market's growth.
Global Intermediate Bulk Container Comprehensive Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and the Rest of the world is classified as Middle-East and Africa.
Company overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Intermediate Bulk Container Comprehensive Market size was estimated at USD XX in 2020 and is expected to reach USD XX by 2030
Berry Global Group Inc, DS Smith Plc, Flexi Tuff Ventures International Ltd, Global-Pak LLC, Plastipak Group, Plymouth Industries LLC, Sonoco Products Co, Pensteel Ltd, Arlington Packaging, Other prominent player
Metals segment to propel the growth and The food & beverage segment registers the highest CAGR are anticipated to hold the Intermediate Bulk Container Comprehensive Market
Drivers An increasing number of Pharma and chemical industries
Intermediate Bulk Containers are used to store and transport both solid and liquid products and are made up of plastics, carbon and stainless steel, and other materials. They are gaining popularity because they are reusable, can be recycled when no longer needed, and are durable.
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