The Intermediate Bulk Container (IBC) rental business is a rapidly expanding sector within the packaging industry. It focuses on renting large plastic containers that are used for the storage and transportation of liquids and bulk commodities. These IBCs are highly suitable for industries such as chemicals, food & beverage, and pharmaceuticals due to their strength, reusability, and stackability, with the capacity to hold up to 1,000 liters of liquid or bulk materials.
The market for IBC rentals is expected to grow at a compound annual growth rate (CAGR) of 5.7%, reaching a value of US$ 1,790.0 million by 2029 from US$ 1,218.0 million in 2022.
One of the key advantages of the IBC rental market is its cost-effectiveness. Businesses that lack the resources to own and maintain their own containers can find renting IBCs to be a more affordable option. Renting eliminates the need to deal with the disposal of used containers, reducing waste and promoting sustainability.
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Flexibility is another advantage of the IBC rental market. Businesses can rent IBCs for short- or long-term periods, depending on their specific requirements. They can easily adjust their container needs in response to changes in production or distribution volumes.
Overall, the IBC rental business is expected to witness continued growth in the coming years due to the increasing demand for cost-effective and sustainable packaging solutions across various industries. However, overcoming challenges related to competition and logistics will be crucial for the long-term success of this market.
Temperature-controlled IBCs to Gain Traction in Coming Years
The global market of IBC rental business has been segmented in terms of material type, product type, content, capacity, end use, and regions. The regions are segmented into North America, Latin America, Europe, East Asia, South Asia, and Middle East & Africa.
- By product type, carbon steel IBC is generally preferred in the IBC rental business. In terms of value, stainless steel IBC is estimated to be the leading product in the market. The reusability and secure handling of hazardous and flammable products are critical features, due to which steel IBCs are highly used in IBC rental business.
- By content, shipping and storing of liquid are the main applications of rental IBCs. The higher safety, filling, and dispensing offered by IBCs are expected to prove itself as great packaging formant for industrial products packaging.
- By capacity type, the IBCs with the capacity of 1,001-1,500 liters are estimated to be prominent in the global IBC rental business, owing to the specific standard size mentioned by regulatory authorities.
- By end use, the industrial chemicals segment is leading for IBC rental business. The food & beverages segment is projected to be an emerging segment for IBC rental business, due to estimated increment in export volume based on previous five-year trade.
Competitive Landscape
Leading service providers and manufacturers dealing in the global IBC rental business market are adopting key market strategies such as expansion, product development and others to compete and maximize its sales in the market. Manufacturers and service providers operating in the IBC rental business market are also focusing on innovation and development to lure a major portion of the industry players in the market.
- For instance, In 2020, Hoover Ferguson Group, one of the leaders in the IBC rental business market has announced that Company is expanding its range of wine and distillery IBC’s into the Australian and New Zealand.
- In 2020, the same company was announced as the Environmental Leader Product of the Year winner for their Liquitote® stainless steel Intermediate bulk container.
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Competitive Landscape: IBC Rental Business Market
- Brambles Ltd
- Hoover Ferguson Group
- HOYER GmbH
- Envirotainer AB
- Goodpack Ltd
- TPS Rental Systems Ltd
- CMO Enterprises, Inc
IBC Rental Business Market By Category
By Material:
- Carbon Steel
- Stainless Steel
- Plastic
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By Product:
- Flexitanks
- Stainless Steel IBC
- Carbon Steel IBC
- Plastic IBC
- Composite IBC
By Content:
- Liquids
- Solids & Semi-solids
By Capacity:
- Upto 1000 liters
- 1001-1500 liters
- 1501-2000 liters
- Above 2000 liters
By End Use:
- Industrial Chemicals
- Petroleum & Lubricants
- Paints, Inks & Dyes
- Food & Beverages
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