The size of the worldwide plastic rigid IBC market is anticipated to grow at a CAGR of 4.8% from 2022 to 2032, reaching a valuation of US$ 5.6 Billion in 2022. By the end of 2032, the market is projected to reach US$ 9.1 billion. By the end of 2022, the top 3 countries are expected to hold between 30 and 35 percent of the world’s plastic rigid IBC market, increasing sector profits.
The Plastic Rigid IBC (Intermediate Bulk Container) Market has been witnessing significant growth in recent years, driven by the increasing demand for efficient and reliable bulk packaging solutions across various industries. Plastic rigid IBCs offer a range of benefits such as durability, cost-effectiveness, and compatibility with different types of fluids. This article dives deep into the Plastic Rigid IBC market, analyzing its current landscape, market trends, and future prospects.
The market for plastic rigid IBC is predicted to grow at a lucrative rate throughout the anticipated timeframe. Between 2022 and 2032, it is anticipated that sales would rise dramatically, opening up a US$ 3.1 billion opportunity for future growth.
The Plastic Rigid IBC Market is poised for substantial growth, with a rising emphasis on the safe transportation and storage of liquids in bulk quantities. These containers, typically made from high-quality polyethylene or polypropylene, are designed to withstand rough handling, extreme temperatures, and harsh chemicals. With the ability to store and transport a wide range of liquids, including hazardous substances, plastic rigid IBCs have become indispensable in industries such as chemicals, food and beverages, pharmaceuticals, and agriculture.
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Key Highlights on Global Plastic Rigid IBC Market
- Asia-Pacific excluding Japan region (APEJ) is highly lucrative region for the growth of the global plastic rigid IBCs. Owing to increasing technological developments supported by growing industrialization in this region, the need for storage and transportation of numerous bulky goods is rising. Moreover, due to low cost of land and labour, the APEJ region is marked by growing manufacturing plants in various fields such as chemicals, food and beverages, pharmaceuticals etc. This has triggered the demand for plastic rigid IBCs in this region
- By material type, the HDEP segment is the largest segment reflecting a high market share as of 2017. This segment is likely to expand in the years to come and to lead the global market by material type category. In 2017, this segment reflected a market share of 63.2%, making it the largest segment. The LLDPE segment also shows positive growth and is poised to register the highest CAGR during the assessment period followed by the LDPE segment
- By capacity type segment, the 1000-1500 litres segment is poised to grow at a higher CAGR of 6.5% owing to increasing demand for high capacity containers. Moreover, the 500-1000 litres segment is by far the largest segment showing good hold in the market. However, the above 200 litres capacity segment is expected to show slow growth owing to high costs of transportation compared to the material being transported and hence this capacity is used on a small scale and only in critical circumstances
- Industrial chemicals end use segment is anticipated to be a highly potential segment in the years to come. This segment has shown a very high intake of plastic rigid IBCs since couple of years. Tis segment is highly favourable for the growth of the plastic rigid IBC market during the assessment period. Moreover, the food and beverage industry also demands for more plastic rigid intermediate bulk containers and this end user segment represents a high CAGR of 6.5% throughout the 2017-2022 assessment period
Factors Driving the Plastic Rigid IBC Market
Several factors are fueling the growth of the Plastic Rigid IBC Market:
- Increasing Demand for Efficient Bulk Packaging: Industries such as chemicals, petroleum, and food processing require effective and reliable packaging solutions to store and transport large quantities of liquid products. Plastic rigid IBCs provide the ideal solution, ensuring safe handling and reducing the risk of spills and contamination.
- Stringent Regulations on Safety and Environmental Protection: Governments and regulatory bodies across the globe have imposed stringent regulations on the storage and transportation of hazardous liquids. Plastic rigid IBCs comply with these regulations, offering enhanced safety features, such as leak-proof designs and robust construction, to minimize the risk of accidents and environmental contamination.
- Rise in International Trade and Export Activities: The growth of international trade and export activities has significantly increased the demand for bulk packaging solutions. Plastic rigid IBCs enable efficient and cost-effective transport of liquids across borders, supporting the expansion of global supply chains.
- Advancements in Material Technologies: The development of advanced materials, such as composite plastics and reinforced polymers, has further enhanced the performance and durability of plastic rigid IBCs. These innovative materials offer increased strength, chemical resistance, and longevity, making them ideal for demanding applications.
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Key Player Analysis – Plastic Rigid IBC Competitive Scenario Included
The research study on global plastic rigid IBC market has included profiles of key players. This competitive analysis section includes key facts such as SWOT analysis, developments and innovations, product portfolio as well as key financials of various companies. In this report companies like-
- Greif Inc.
- Mauser Packaging Solutions
- Schütz GmbH & Co. KGaA
- Schoeller Allibert Services B.V.
- Elkhart Plastics (Myers Industries, Inc.)
- RIKUTEC Group
- Snyder Industries
- ACO Container Systems
- Core Plastech International Inc.
- CL Smith
- Auer Packaging
- Time Technoplast Ltd.
- Pyramid IBC Containers
- others
Market Trends and Future Prospects
The Plastic Rigid IBC Market is witnessing several notable trends that are shaping its future:
- Growing Adoption of Intermediate Bulk Containers in E-commerce: With the exponential growth of e-commerce and online retail, the demand for efficient bulk packaging solutions has increased significantly. Plastic rigid IBCs offer a secure and cost-effective option for transporting liquids, enabling seamless logistics operations in the e-commerce sector.
- Focus on Sustainability and Environmental Responsibility: As sustainability becomes a key priority for businesses across industries, manufacturers of plastic rigid IBCs are investing in eco-friendly initiatives. This includes the development of recyclable and reusable containers, as well as exploring alternative materials with reduced environmental impact.
- Advancements in IoT-enabled IBCs: The integration of Internet of Things (IoT) technologies with plastic rigid IBCs is gaining traction. IoT-enabled IBCs provide real-time tracking and monitoring of container conditions, ensuring optimal storage and transportation conditions, as well as enabling predictive maintenance and inventory management.
- Emerging Markets Offering Lucrative Opportunities: Developing economies, particularly in the Asia-Pacific region, are witnessing rapid industrialization and urbanization. This presents significant growth opportunities for the Plastic Rigid IBC Market, as industries in these regions increasingly adopt advanced packaging solutions for efficient operations.
Plastic Rigid IBC Market Outlook by Category
By Material:
- HDPE
- LDPE
- LLDPE
- PP
By Capacity:
- Up to 500 Liters
- 501-1000 Liters
- 1001-2000 Liters
- Above 2000 Liters
By End Use:
- Industrial Chemicals
- Petroleum & Lubricants
- Paints, Inks & Dyes
- Food & beverages
- Building & Construction
- Pharmaceuticals
- Others (Waste Disposal/Recycling & Silage, etc.)
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