During the forecast period, the plastic rigid IBC market is expected to maintain a steady Compound Annual Growth Rate (CAGR) of 4.9%, projecting an estimated value of US$ 5.9 billion in 2023, with the potential to grow to US$ 9.5 billion by the year 2033.
The United States is poised to dominate the global market for plastic rigid Intermediate Bulk Containers (IBCs), with an anticipated Compound Annual Growth Rate (CAGR) of 18.3% by 2033. The U.S. boasts a wide array of industries, including agriculture, pharmaceuticals, food & beverages, and chemicals, all of which drive demand for plastic rigid IBCs in handling bulk materials efficiently. Stringent regulations concerning the transport of hazardous materials have led to increased adoption of UN/DOT-certified plastic rigid IBCs, thus fueling market growth. Advancements in technologies like the Internet of Things (IoT) are enabling efficient monitoring and tracking of goods and services during transportation, enhancing the market’s performance.
On the other hand, Germany is anticipated to capture a CAGR of 6.8% in the global plastic rigid IBC market. Germany’s robust manufacturing and engineering sector fuels demand for standardized plastic rigid IBCs. The thriving chemical industry relies heavily on plastic rigid IBCs for the safe and durable transportation of chemicals. With a focus on reducing carbon emissions, industries in Germany are increasingly adopting sustainable options like recyclable plastic rigid IBCs, contributing to market advancement. Germany’s status as a prominent exporter and its robust logistics industry are driving the adoption of plastic rigid IBCs for export activities, further strengthening the market’s position.
Request Free Report Here: https://www.futuremarketinsights.com/reports/sample/rep-gb-5222
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
Region Analysis-
- United States– The United States is anticipated to dominate the global market by capturing a CAGR of 18.3% by 2033. The United States plastic rigid IBC market is significantly driving the global market through various aspects
- China– China is estimated to secure a CAGR of 13.9% in the global market during the forecast period. China is influenced by several factors
- Germany– Germany is anticipated to capture a CAGR of 6.8% in the global market during the forecast period. Several factors robust to the German plastic rigid IBC market
- Canada– Canada is likely to register a CAGR of 3.0% in the global market during the forecast period. The following drives are enhancing Canada’s plastic rigid IBC market.
- India– India is anticipated to secure a CAGR of 5.3% in the global market during the forecast period. A few factors are uplifting India’s plastic rigid IBC market.
The Rise of Plastic Rigid IBCs: Trends and Growth Drivers
Plastic Rigid IBCs have witnessed significant growth in recent years due to various trends and factors. Some of the key drivers behind their rising popularity include:
- Sustainable Packaging Solutions: With increasing environmental awareness, industries are turning towards eco-friendly packaging alternatives. Plastic Rigid IBCs, being reusable and recyclable, align perfectly with sustainability goals.
- Cost-Effectiveness: These containers offer a cost-effective solution for bulk storage and transport, reducing the overall expenses incurred during logistics.
- Regulatory Compliance: The plastic rigid IBCs comply with international regulations for the safe transportation of hazardous materials, giving companies peace of mind in adhering to stringent guidelines.
- Versatility: From food and beverage to chemical and pharmaceutical industries, these IBCs find applications across diverse sectors, showcasing their versatility.
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
Ready to Learn About Our Approach? Explore Our Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-5222
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.)
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
