Anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2032, the global metal IBC market is poised for significant expansion. Projections indicate a noteworthy increase in sales, surging from US$ 11.2 billion in 2022 to a substantial US$ 18.4 billion by 2032. The demand for stainless steel IBC is set to intensify, with the top 5 providers projected to command a significant market share of 15-20% in 2021. This underscores the increasing preference for durable and corrosion-resistant metal IBCs, aligning with the evolving needs of industries relying on efficient and secure liquid and bulk material transportation.
Metal IBCs are an important part of the expansion of cross-border trade practices, particularly for end users such as industrial chemicals. Metal IBCs have achieved enormous strategic relevance due to the great reduction in breaking and leakage instances of bulk liquids.
Maintaining its prominent position, the USA is poised to lead the global metal IBC market throughout the assessment period. According to the USA Department of Energy – Office of Energy Efficiency & Renewable Energy, the country holds the top spot as the world’s leading chemicals producer, contributing to 1/5th of the global chemical production share. Additionally, a report from BASF projects a year-over-year growth of 4.5% in chemical production in the USA from 2021 to 2022, propelled by robust demand from the automotive, energy, and consumer goods sectors. With the bulk transportation needs of these chemicals, FMI estimates a robust 4.9% CAGR in metal IBC sales in the USA during the assessment period.
Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-14621
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.
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.
Recent Developments-
- In March 2022, Thielmann presented stainless steel metal IBC in the Vinitaly -Int. l wine and spirits exhibition.
- In November 2021, Precision IBC, Inc. Acquires Metano IBC Services, Inc. Through this acquisition, the company is planning for increasing consumer reach and fulfill the increasing demand for metal IBC.
Stainless Steel to Dominate the Global Metal IBCs Market
Distinguished by its durability and superior wear-and-tear resistance, stainless steel emerges as the favored choice in the global metal IBC market, outperforming carbon steel. The industrial chemical segment is anticipated to experience significant growth throughout the forecast period, primarily driven by the heightened adoption of metal IBCs for the secure transportation of hazardous chemicals. Notably, stainless steel metal IBCs held a substantial 67.2% share in the global market in 2021, underscoring their dominance and widespread preference within the industry for efficiently handling and transporting a diverse range of chemicals and substances.
Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/14621
Global Metal IBC Market By Category
By Material Type:
- Stainless
- Carbon
By Capacity Type:
- Up to 1,000 liters
- 1,001-1,500 liters
- 1,501-2,000 liters
- Above 2,000 liters
By End Use:
- Industrial Chemicals
- Petroleum and Lubricants
- Food and Beverages
- Building and Construction
- Pharmaceutical
- Others (Waste Disposal/Recycling and Silage etc.)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
