The global reconditioned IBC market, which generated USD 4,971.8 million in revenue in 2023, is anticipated to exhibit a year-on-year growth of 6.1% in 2024, reaching an estimated valuation of USD 5,295.3 million. Over the forecast period from 2024 to 2034, the market is expected to grow at a compound annual growth rate (CAGR) of 5.1%, with the industry projected to attain a value of USD 8,724.8 million by 2034.
Growing cross-border trade, rising focus towards sustainability, and growing demand for eco-friendly, convenient, and cost-effective packaging solutions across industries such as chemicals, food & beverage, oil & lubricants, and pharmaceuticals are a few prominent factors driving the global reconditioned IBC market forward.
Reconditioned IBCs have become ideal cost-effective packaging solutions for mass storage and transportation of liquid, semi-solid, and solid products. These packaging solutions are being increasingly utilized across diverse industries due to their environmental and economic advantages.
Growing preference of industries towards using reconditioned IBCs over new ones to reduce packaging waste and save money is expected to boost the global reconditioned IBCs market during the assessment period.
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Similarly, increasing government initiatives and regulations to reduce packaging waste, growing trend of customization, and rise in export of chemicals, pharmaceuticals, oils, lubricants, and several other commodities globally will boost reconditioned IBC sales.
Leading companies such as Mauser Packaging Solutions collect and clean IBCs from manufacturers and offer a variety of reconditioned IBCs for sale in different specifications and sizes. They are continuously striving in helping companies to achieve their sustainability goals.
Key Takeaways from the Reconditioned IBC Market Report
- By material type, the metal IBCs segment is expected to hold around 0% share of the global market in 2022 and further expand at 6.3% CAGR through 2032.
- Based on capacity, the standard segment is estimated to account for about 0% share of the global reconditioned IBC market in 2022.
- By end use, the industrial chemical segment is anticipated to expand at 8% CAGR between 2022 and 2032, reaching a valuation of US 2893.6 million by 2032.
- Europe will continue to dominate the global reconditioned IBC market, accounting for a share of about 6% in 2022.
- With an estimated market share of around 4% in 2022, North America will hold the second dominant position in the global market.
- South Asia reconditioned IBC market is forecast to progress at 1% CAGR during the forecast period.
- The reconditioned IBC market in Germany is likely to expand at 2% CAGR through 2032.
“Increasing cross-border trade worldwide coupled with rising end user interest in adopting eco-friendly rigid packaging solutions is projected to boost the global reconditioned IBC market. To gain maximum profits, reconditioned IBC companies are offering cleaning services for IBCs as well as providing a wide range of reconditioned IBCs for sale,” says a lead analyst at Future Market Insights.
Competition Landscape: Reconditioned IBC Market
Leading reconditioned IBC companies are introducing new services for customers to increase their revenue share. Besides this, they are adopting numerous strategies including joint ventures, mergers, facility expansions, and acquisitions to expand their footprint.
Few of the leading companies are also offering customized reconditioned IBCs as well as integrating novel technologies in these rigid packaging solutions.
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Schutz Container Systems, Inc., Mauser Group B.V, Greif, Inc., Rahway Steel Drum Co Inc., General Steel Drum LLC, Accon group AS, Precision IBC, Inc, TPL Plastech Limited, Recontainers Ltd, and OBAL CENTRUM s.r.o. are prominent companies operating in this market space.
Recent Developments:
- In March 2018, the production assets of MaschioPack North America LLC were acquired by MASUSER USA, LLC. This development will help the company to supply extra manufacturing support for National Container Group, its reconditioning affiliate and enhance its North American IBC footprint.
Get More Valuable Insights into Reconditioned IBC Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Reconditioned IBC market presenting historical demand data (2017 to 2021) and forecast statistics for the period from (2022 to 2032). The study divulges compelling insights on the demand for Reconditioned IBC based on material type (metal IBCs, composite IBCs), capacity (standard, customized capacities), and end use (industrial chemicals, petroleum & lubricants, paints, inks & dyes, food & beverages, waste disposal/recycling & silage), across several regions.
Reconditioned IBC Industry Outlook by Category
By Material Type:
- Metal IBCs
- Composite IBCs
By Capacity:
- Standard
- 1,040 liters (275 US gal)
- 1,250 liters (330 US gal)
- Customized Capacities
By End Use:
- Industrial Chemicals
- Petroleum & Lubricants
- Paints, Inks & Dyes
- Food & Beverages
- Waste Disposal/Recycling & Silage
- Others (Construction, Pharmaceuticals)
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
About Future Market Insights Inc. (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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