Metal IBC Market Set to Surge: Reaching US$ 18.4 Billion by 2032

Forecasted to exhibit a robust 5.1% compound annual growth rate, the global metal IBC market is poised for significant expansion spanning from 2022 to 2032. Projections indicate a substantial rise in market sales, climbing from US$ 11.2 Billion in 2022 to an impressive US$ 18.4 Billion by 2032. This anticipated growth underscores the increasing adoption of metal IBCs across diverse industries worldwide, driven by their durability, efficiency, and sustainability. As demand for secure and cost-effective bulk liquid storage solutions continues to rise, the metal IBC market is positioned for sustained growth and innovation throughout the forecast period.

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

Business Growth Drivers:

1. Increasing Demand for Efficient Transportation: The demand for IBCs is driven by the need for efficient transportation of liquids and bulk materials across various industries such as chemicals, food and beverages, pharmaceuticals, and cosmetics. IBCs offer a convenient and cost-effective solution for transporting these materials.
2. Focus on Sustainability: With growing environmental concerns, companies are increasingly looking for sustainable packaging solutions. IBCs, which are often reusable and recyclable, are preferred by businesses looking to reduce their carbon footprint and promote sustainability in their supply chains.
3. Advantages in Storage and Handling: IBCs provide advantages in storage and handling, offering a higher storage capacity compared to traditional drums or barrels. They also facilitate easier handling and transportation, reducing labor costs and improving operational efficiency.
4. Stringent Regulations: Stringent regulations regarding the transportation and storage of hazardous materials have led to an increased adoption of IBCs, as they provide a safe and compliant solution for handling such substances. This is particularly evident in industries like chemicals and pharmaceuticals.
5. Globalization of Trade: The globalization of trade has resulted in an increased need for efficient packaging solutions that can withstand long-distance transportation and varying environmental conditions. IBCs, with their durability and reliability, are well-suited for international trade.

Industry Restraints:

1. Initial Investment Costs: While IBCs offer long-term cost savings due to their reusability, the initial investment cost can be relatively high for some businesses. This might deter smaller companies or those with limited capital from adopting IBCs.
2. Limited Compatibility: IBCs may not be suitable for all types of materials or applications. Certain chemicals or products may require specialized packaging solutions, limiting the applicability of IBCs in certain industries.
3. Handling and Cleaning Challenges: Despite their advantages in handling, IBCs can pose challenges in terms of cleaning and maintenance. Improper cleaning procedures or inadequate maintenance can lead to contamination issues, affecting product quality and safety.
4. Regulatory Compliance: While stringent regulations drive the adoption of IBCs in certain industries, compliance with these regulations can also be a challenge for businesses. Ensuring that IBCs meet regulatory requirements for specific applications adds complexity to the procurement process.
5. Competition from Alternative Packaging Solutions: IBCs face competition from alternative packaging solutions such as flexitanks, bulk containers, and tank containers. Depending on the specific requirements of the industry or application, these alternatives may offer advantages over IBCs, impacting their market share.

Key Takeaways :

· 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.

Competitive 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.

Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/14621

Key Segmentations:

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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani  

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