During the projection period, it is anticipated that the worldwide metal IBC market will expand at a CAGR of 5.1%. (2022-2032). Market sales are anticipated to rise from US$ 11.2 billion in 2022 to US$ 18.4 billion by 2032. With the top 5 suppliers controlling between 15% and 20% of the metal IBC market in 2021, the demand for stainless steel IBCs will increase.
The worldwide metal IBC market is anticipated to account for about 45–50% of the US$22.4 billion in IBC sales in total in 2022. IBCs, commonly referred to as tote tanks, are used primarily for the storage and transportation of bulk amounts.
It is expected that a metal IBC that complies with United Nations or U.S. Department of Transportation certification will lessen the danger involved in transporting liquid goods. In the several industries, this led to exponential growth in the sale of metal IBC.
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According to Future Market Insights, the worldwide metal IBC market is anticipated to generate an additional $7 billion in opportunity by 2032. The most popular items are stainless steel IBC, and sales are projected to grow at a notable CAGR of 4.8% from 2022 to 2032.
In addition, the industrial chemical segment is projected to be the most profitable in the overall metal IBC market depending on end use. According to the study, it is anticipated to grow at a CAGR of 5.2% between 2022 and 2032.
Key Takeaways from Global Metal IBC Market
· Stainless steel is the most used material segment for manufacturing metal IBC and is estimated to create an incremental opportunity of US$ 7.8 Bn, during the forecast period.
· Industrial chemical IBCs are the most desired end use segment, predicted to grow at a CAGR of 5.2% in the worldwide market.
· China’s metal IBC market projected to register a CAGR of 7.5% during the forecast period.
· The U.S. is expected to be the fastest growing metal IBC market due to expansion of industrial chemical sector and use case of metal IBC in waste disposal sector.
“Product innovation and inclusion of tracking system has significantly raised the sales of global metal IBC market. Key players are expected to witness lucrative opportunities on the back of investing more in developing lightweight and anti-wear metal IBC production and penetrating their products in the Asian market” – says FMI analyst.
How Is Global Metal IBC Market Going to Thrive Further?
For transportation of their goods, including liquids, a number of large-scale corporations have partnered with transportation and agencies. Major manufacturers are forming strategic collaborations to strengthen their position in the global IBC metal market.
Vendors in the worldwide metal IBC market are employing a variety of creative strategies, including collaboration with transportation networks. Such actions are performed to acquire an advantage over industry competitors. Due to the high level of competition in the industry, the global metal IBC market is expected to increase in the near future.
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Global Metal IBC Market Landscape
Some of the leading players included in the global metal IBC market are players like
- Thielmann US LLC,
- Precision IBC, Inc.,
- Automationstechnik GmbH,
- Sharpsville Container Corporation,
- Hoover Ferguson Group,
- Snyder Industries Inc.,
- Yenchen Machinery Co., Ltd.,
- Custom Metalcraft Inc.,
- Metano IBC Services Inc.,
- Pensteel Ltd.
Global Metal IBC Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global market for metal IBC market by material type (carbon, stainless), by capacity (Up to 1,000 litres, 1,001-1500 litres, 1,501-2,000 litres, above 2,000 litres), by end use (industrial chemicals, petroleum and lubricants, food and beverage, building and construction, pharmaceutical, others (waste disposal/recycling and silage etc.)) and region – forecast to 2022–2032
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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Related Links –
https://cigarbook.mn.co/posts/31174796
https://tealfeed.com/victorian-jars-market-size-share-industry-1da63
https://theamberpost.com/post/victorian-jars-market-analysis-and-market-studies-for-2030
https://likefm.org/blog/victorian-jars-market-global-industry-analysis-and-deeper-insights-fmi
https://www.thetechlog.com/?p=18993&preview=true
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