Growing demand for intermediate bulk containers (IBC) from chemical, mining, pharmaceutical, food & beverages, agriculture, and other industries will drive the demand in the market. Increasing cross-border trade due to lax trade regulations is expected to drive the global intermediate bulk container industry swiftly during the projection period (2024-2034).
NEWARK, Del, Aug. 08, 2024 (GLOBE NEWSWIRE) — As per the latest analysis, the global intermediate bulk containers market is estimated to be valued at US$ 25.5 billion in 2024. Global sales of IBCs are forecast to soar at 5.5% CAGR during the assessment period, totaling US$ 43.8 billion by 2034.
Demand remains particularly high for rigid intermediate bulk containers (RIBC) due to their high adoption across various industries for storing and transporting hazardous and non-hazardous materials. The target segment is set to grow at a CAGR of 5.6% through 2034.
Multiple factors are set to provide impetus for the growth of the intermediate bulk container market during the assessment period. These include rising trade activities and escalating need efficient bulk packaging solutions.
IBCs have become ideal packaging solutions in food & beverage, chemical, pharmaceutical, and lubricant industries. These industrial packaging solutions are widely used to store and transport hazardous and non-hazardous materials efficiently.
Intermediate bulk containers, especially FIBCs, are cost-effective packaging solutions that ensure the product is shipped in its original form to the importer. They are known for their hygiene, sturdiness, and ability to handle pressure during transportation. As a result, their demand is rising steadily across various industries, and the trend will persist through 2034.
Rising imports and exports of commodities like food & beverages, chemicals, and pharmaceuticals are creating high demand for stainless steel IBCs. Similarly, growing end user interest in sustainable packaging solutions is prompting manufacturers to develop eco-friendly IBCs.
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What are the Key Trends Shaping the Global Intermediate Bulk Container Industry?
Incorporation of RFID to Facilitate Expansion of Intermediate Bulk Container (IBC) Industry
North America and Europe markets are becoming digitally advanced with each passing day, as the packaging industry is witnessing a variety of innovations in various end-use industries. Such a trend has been the usage of RFID technology in intermediate bulk containers.
Manufacturers print a unique code that can be scanned to validate the authenticity of the product. With more and more consumers inclining towards digital technology, manufacturers have started to incorporate RFID codes into packaging solutions. This trend has also been followed by intermediate bulk manufacturers in the APAC market.
The RFID technology will help in curbing the counterfeiting menace in chemicals, pharmaceuticals, and other industries which is haunting the sales of the target market. RFID technology will also help in keeping tabs on logistical storage.
Key Takeaways from the Global Intermediate Bulk Container (IBC) Market
- The global IBC market value is estimated to total US$ 43.8 billion by 2034.
- By material, the metal IBCs segment is set to grow at 6.1% CAGR through 2034.
- Based on product, the RIBC segment dominates the market with a share of 78% in 2024.
- By end-use, the chemical sector is forecast to account for around 51% market share.
- Revenue in the United States is predicted to increase at 3.5% CAGR.
- India is poised to register a CAGR of 8.3% from 2024 to 2034.
“Escalating import/export activities across the world are set to propel IBC demand during the forecast period. To gain maximum benefits, key manufacturers are focusing on offering solutions that are cost-effective and eco-friendly.”- says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Trends Shaping the Global Intermediate Bulk Container (IBCs) Market
Integration of Digital RFID into IBC Packaging Solutions
North American and other markets are becoming more and more digitally advanced with different innovations in various end-use industries. Such innovation in RFID technology has been seen recently in the IBC market, which includes a unique RFID code that can be scanned to authenticate genuine goods.
Consumers relate digital technology as a mode of convenience. Therefore, IBC manufacturers have started to implement technologically advanced RFID codes into packaging solutions, which in turn, allows consumers to authenticate the product themselves by scanning the code and helps in logistical storage of the product too.
The RFID technology will help in curbing counterfeiting menaces. Thus, growing trend of incorporating advanced technologies like RFID tags into IBCs will bode well for the market during the assessment period.
Who is Winning?
The tier 1 players hold 15% to 20% of the intermediate bulk container market. Greif, Inc., Mauser Packaging Solutions, SCHÜTZ GmbH & Co. KGaA, Great Western Containers, DS Smith, Brambles, Denios AG, O’Bryan Barrel Co., Inc., Muller Packaging, ILC Dover, Time Techno Plast Ltd, OMCE di Rocchetti Amleto S.p.A, Industrial Engineering Corporation, Snyder Industries, Inc., WERIT Kunststoffwerke, and Euro Mouldings are key IBC manufacturers listed in the report.
Top players are focusing on launching new eco-friendly IBC with enhanced features. They also employ strategies like distribution agreements, mergers, collaborations, partnerships, and mergers to gain a competitive edge in the market.
Recent Developments:
- In January 2024, Greif, Inc., a leading United States-based industrial packaging company, partnered with Ionkraft for a new pilot project.
- In February 2024, IBA Germany was acquired by Aran Group, a prominent Israel-based manufacturer of sustainable liquid packaging.
Key Players in the Intermediate Bulk Container (IBC) Market Report
- Greif, Inc
- Mauser Packaging Solutions
- SCHÜTZ GmbH & Co. KGaA
- DS Smith
- Brambles
- Denios AG
- O’Bryan Barrel Co., Inc.
- ILC Dover
- Time Techno Plast Ltd
- OMCE di Rocchetti Amleto S.p.A
- Snyder Industries, Inc.
- WERIT Kunststoffwerke
- TPL Plastech Ltd.
- Peninsula Drums CC
- SCHACK Industriemballage ApS (AST)
- Berry Global, Inc.
- Transtainer
- THIELMANN
- RENGO CO. LTD.
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Global Intermediate Bulk Container Market Segmentation
By Material:
- Plastic
- Metal
- Paper & Paperboard
- Composite
By Product:
- RIBC
- Metal
- Paperboard
- Plastic
- Composite
- FIBC
By Capacity:
- RIBC
- Up to 1,000 L
- 1,000 to 1,500 L
- Above 1,500 L
- FIBC
- Up to 500 KG
- 500 to 1,000 KG
- 1,000 to 1,500 KG
- Above 1,500 KG
By Content:
- Liquid
- Solid & Semi-solids
By End-use:
- RIBC
- Chemical
- Petroleum & Lubricants
- Paints, Inks & Dyes
- Food & Beverages
- Cosmetics & Personal Care
- Healthcare & Pharmaceuticals
- Others
- FIBC
- Chemicals & Fertilizers
- Food & Agriculture
- Building & Construction
- Healthcare & Pharmaceuticals
- Mining
- Others
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Middle East & Africa
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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The pallet wraps market value is expected to increase at a 4% CAGR from 2023 to 2033, from US$ 6.14 billion in 2023 to US$ 9.12 billion in 2033.
The global rigid food containers market size is register a CAGR of 4.8% from 2022 to 2032. The market is anticipated to reach US$ 314.2 Billion by 2032.
The pallet box market sales is projected to reach US$ 2.9 billion by 2034. The market is further expected to surge at a CAGR of 2.8% during the forecast period 2024 to 2034.
The global beverage cartoners market size is projected to grow at a CAGR of 4.9% between 2023 and 2033, totaling around US$ 1.1 billion by 2033.
The pallet wraps market value is expected to increase at a 4% CAGR from 2023 to 2033, from US$ 6.14 billion in 2023 to US$ 9.12 billion in 2033.
The Rigid Packaging Container market is expanding at a 3% CAGR over the next ten years and lead the market to US$ 275.2 billion by 2034.
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Originally published at https://www.einpresswire.com/article/733964363/global-intermediate-bulk-container-ibc-sales-to-top-a-valuation-of-usd-43-8-billion-by-2034-amid-rising-usage-in-diverse-industries-future-market
