The global folding IBC market is expected to reach US$ 793.6 million in 2023 and generate US$ 1,471.2 million by 2033, growing at a CAGR of 6.3% over the forecast period, according to a new report by Future Market Insights (FMI). The market is driven by several trends, including the increasing demand for sustainable materials, the integration of digital tracking and monitoring technologies, and the rising importance of supply chain management and logistics.
Sustainability is a major factor driving the growth of the folding IBC market. Companies are looking for ways to minimize their environmental impact, and reusable and recyclable IBCs are becoming increasingly popular. According to FMI’s analysis, IBCs that can be reused and recycled are likely to gain traction in the future, driving the demand for folding IBCs.
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Another key trend in the market is the integration of digital technologies. With the rise of e-commerce and international trade, there is a growing need for efficient supply chain management and logistics. Folding IBCs equipped with IoT and sensor technology can monitor inventory, optimize supply chains, and track assets, making them an attractive option for companies looking to streamline their operations.
Automation and real-time analytics are also expected to play a crucial role in the future of the folding IBC market. As companies look for ways to improve efficiency and reduce costs, advanced technologies such as automation and real-time data analysis are likely to become more prevalent in the industry.
Business Growth Opportunities in the Folding IBC:
- Global Expansion: Explore opportunities to expand the market presence globally by targeting emerging economies and regions with increasing demand for efficient and flexible industrial packaging solutions.
- Product Innovation: Invest in research and development to create innovative features, materials, and designs for folding IBCs, enhancing their durability, sustainability, and adaptability to diverse industries.
- Supply Chain Optimization: Collaborate with logistics and supply chain partners to offer integrated solutions that optimize the transportation and storage of goods, addressing the growing need for streamlined supply chain processes.
- Customization Services: Provide tailored solutions to meet specific industry requirements, offering customization options in terms of size, material, and features to cater to a wide range of applications and sectors.
- Eco-Friendly Initiatives: Embrace sustainability by incorporating eco-friendly materials and manufacturing processes, responding to the increasing demand for environmentally responsible packaging solutions.
Trends in the Folding IBC Industry:
- Smart Packaging Integration: The incorporation of smart technologies, such as IoT sensors and RFID tracking, into folding IBCs to enable real-time monitoring of contents, location, and condition, enhancing visibility and traceability in the supply chain.
- Increased Use of Lightweight Materials: A trend towards the use of lightweight yet durable materials to reduce transportation costs, enhance portability, and contribute to sustainability goals by minimizing material usage and energy consumption in production.
- Collapsible Designs for Space Efficiency: Growing popularity of collapsible or nestable designs in folding IBCs, allowing for efficient space utilization during transportation and storage, particularly in industries where space optimization is critical.
- Focus on Hygiene and Compliance: Rising awareness of hygiene standards and regulatory compliance in industries such as pharmaceuticals and food, driving the development of folding IBCs with features that facilitate easy cleaning, sterilization, and adherence to industry regulations.
- Circular Economy Practices: Adoption of circular economy principles in the design and manufacturing of folding IBCs, promoting recyclability, reusability, and the use of recycled materials to align with the increasing emphasis on sustainable and circular business models.
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Key Companies Profiled
- Schoeller Allibert Group B.V.
- Ac Buckhorn LLC
- Finncont Oy
- Arena Products Inc.
- TranPak Inc.
- TPS Rental Systems Ltd
- RPP Containers
- Horen Group
- ORBIS Corp.
- Bulk Handling Australia Group Pty Ltd
- Dalian CIMC Logistics Equipment Co. Ltd.
- Loscam Ltd.
- Milford IBC
Regional Analysis:
The global market for folding IBCs is witnessing dynamic growth trends across various regions, each driven by unique factors. In the United States, the focus on environmental sustainability is fueling the demand for folding IBCs, with a steady 2.7% CAGR expected from 2023 to 2033. The compact nature of folding IBCs optimizes space in trucks and shipping containers, reducing transportation costs and enhancing efficiency.
In India, a burgeoning chemical industry and government initiatives like ‘Make in India’ contribute to a projected 6.2% CAGR in folding IBC consumption from 2023 to 2033. The collapsible design of these IBCs addresses the need for secure chemical storage while minimizing logistics expenses.
China, as a global trade hub, anticipates a 5.4% CAGR in the folding IBC market, driven by the international expansion of businesses and a growing emphasis on environmental practices in logistics. Germany leads in Europe with a 2.1% CAGR, propelled by a thriving food and beverage sector, while the United Kingdom, expected to grow at a 4.1% CAGR, emphasizes safety, hygiene standards, and recyclability to meet regulatory requirements and reduce environmental impact.
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Folding IBCs Market by Category
By Material:
Metal Folding IBCs
Carbon Steel Folding IBCs
Stainless Steel Folding IBCs
Plastic Folding IBCs
By Capacity:
Up to 500 L
501 to 1,000 L
1,001 to 1,500 L
Above 1,500 L
By Application:
Chemicals
Hazardous
Non-Hazardous
Petrochemical Products
Paints, Inks, & Dye
Food & Beverage
Automotive & Mechanical Parts
Cosmetic & Toiletries
Others
By Packaging Content:
Liquid
Solid & Semisolid
By Region:
North America
Latin America
Eastern Europe
Western Europe
Asia Pacific excl. Japan
Middle East and Africa (MEA)
Japan
Author
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.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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