The global carbon steel IBC market is anticipated to reach a value of US$ 2.6 Bn in 2022 and continue to grow at a CAGR of 5.4% to reach US$ 4.4 Bn by the year 2032, according to research from Future Market Insights. With the top 3 nations predicted to control between 30 and 35 percent of the market by the end of 2022, it is anticipated that sales of the boxes by Capacity would increase.
IBCs with capacities between 160 and 350 gallons are the most ideal for industrial chemicals. Convenience, greater product protection, and the capability of heavy-duty transportation are the driving forces behind the same. IBCs with a capacity of 160 to 350 gallons are anticipated to be worth US$1.2 billion by the end of 2032.
Global Carbon Steel IBC Market: Overview
Carbon steel IBC is an industrial grade reusable container for bulk storage and is painted exterior with carbon steel. Carbon steel IBC is used for transporting and storing bulk liquids. Carbon steel IBC is also known as a tote and is capable of stacking and can be moved by a pallet jack or forklift. Carbon steel IBC is an ideal choice when it comes to the storage of oil and lubricants. Carbon steel IBC is extremely impact resistant, durable and works well in the non-corrosive chemical environment. Carbon steel IBC I less expensive than stainless steel IBC. Carbon steel IBC is lighter and cheaper than stainless steel.
Carbon steel is a metal alloy made up of a combination of two elements, iron and carbon. Carbon is the principal hardening and strengthening material in the steel. Due to its hardness, carbon steel IBC is durable. Carbon steel IBC is more susceptible to rust than stainless steel IBC. Carbon steel IBC is reusable, allows easy filling and dispensing and are environmentally friendly as they reduce clean-up and disposal concerns. Carbon steel IBC is a lightweight and less expensive alternative to stainless steel IBC. Factors driving the carbon steel IBC market are the strength, high fatigue strength, low weight, and toughness. Carbon steel IBC’s capacities range from 110 gallons to 550 gallons. Double walled carbon steel IBC is also available with built-in secondary containment. Carbon steel IBC has a sloped bottom for uniform and complete drainage.
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Global Carbon Steel IBC Market: Dynamics
Industrial bulk packaging market has been growing steadily since the past few years and is expected to continue growing in the foreseeable future. Among all other bulk packaging products, IBC’s have exhibited the fastest growth rate. The need for high-performance packaging solutions, growth in the domestic chemicals industry, optimal packaging design and increase in sustainability initiatives drives the carbon steel IBC market.
Growth in the usage of carbon steel IBC is due to the increased use of larger, higher value containers that offer superior performance and are cost effective over the long term. Carbon steel IBC is an ideal choice for storing bulk liquids than other packaging alternatives such as drums. Carbon steel IBC is quickly gaining recognition as it is less expensive than stainless steel IBC and reduces waste space. The cubic design of the carbon steel IBC that it can hold the same volume as six drums while taking up the same amount of space as four drums.
Carbon steel IBC can be reused hundreds of times, and it lasts for many years. Reusing packaging helps to conserve the valuable and finite resources of raw materials that are used to produce packaging products. The demand for metal IBC’s in some regions for the storage of chemicals and oils drives the market for carbon steel IBC. Additionally, the global carbon steel IBC market is inspired by the booming manufacturing sector output and trade activities that require the need for containers for exports and imports.
Global Carbon Steel IBC Market: Regional Outlook
The U.S accounts for the highest share in global carbon steel IBC market, followed by Germany. The rising demand for intermediate bulk containers for advanced transportation in developing countries such as India and China is expected to drive the global carbon steel IBC market. The need for active transportation options is rising for emerging end users such as Food & beverage in the Middle East & Africa region. Therefore the carbon steel IBC market in these developing regions is expected to be positive during the forecast period.
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Global Carbon Steel IBC Market: Key Manufacturers
- The Cary Company
- Hoover Ferguson
- Protank
- Synder Industries, Inc.
- Premier Container
- Transtore
- Theilmann
- Great Western Manufacturers, Inc.
- Hawman Container Services
The Carbon Steel IBC market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Carbon Steel IBC market report provides in-depth analysis of Carbon Steel IBC market trends, macroeconomic indicators, and governing factors along with Carbon Steel IBC market attractiveness as per segments. The Carbon Steel IBC report also maps the qualitative impact of various market factors on market segments and geographies.
The Regional analysis includes –
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
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Global Carbon Steel IBC Market: Segmentation
Global Carbon steel IBC market is segmented on the basis of discharge type into:
- Center Discharge
- Side Discharge
Global Carbon steel IBC market is segmented on the basis of capacity into:
- Up to 150 gallon
- 150 gallon to 350 gallon
- 350 gallon to 500 gallon
- 500 gallon & above
Global Carbon steel IBC market is segmented on the basis of storage application:
- Oils
- Solvents
- Lubricants
- Chemicals
- Paints
- Coatings & Dyes
- Cleaning and Sanitation liquids
- Others
Global Carbon steel IBC market is segmented on the basis of end-use:
- Chemical Industry
- Pharmaceuticals
- Food & Beverage
- Paints Industry
- Petroleum Industry
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