Projected to exhibit robust growth, the global metal IBC (Intermediate Bulk Container) market anticipates a Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2032. Forecasts indicate a substantial surge in market sales, escalating from US$ 11.2 billion in 2022 to a noteworthy US$ 18.4 billion by 2032. This growth trajectory is underpinned by the widespread adoption of metal IBCs across various industries, emphasizing their durability, efficiency, and suitability for bulk material handling. As businesses seek reliable and sustainable packaging solutions, the metal IBC market is positioned for significant expansion, contributing to the evolving landscape of industrial storage and transportation.
Metal IBCs are an important part of the expansion of cross-border trade practices, particularly for end users such as industrial chemicals. Metal IBCs have achieved enormous strategic relevance due to the great reduction in breaking and leakage instances of bulk liquids.
Maintaining its prominent position, the USA is poised to lead the global metal IBC market throughout the assessment period. According to the USA Department of Energy – Office of Energy Efficiency & Renewable Energy, the country holds the top spot as the world’s leading chemicals producer, contributing to 1/5th of the global chemical production share. Additionally, a report from BASF projects a year-over-year growth of 4.5% in chemical production in the USA from 2021 to 2022, propelled by robust demand from the automotive, energy, and consumer goods sectors. With the bulk transportation needs of these chemicals, FMI estimates a robust 4.9% CAGR in metal IBC sales in the USA during the assessment period.
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Key Takeaways from Global Metal IBC Market
· Stainless steel is the most used material segment for manufacturing metal IBC and is estimated to create an incremental opportunity of US$ 7.8 Bn, during the forecast period.
· Industrial chemical IBCs are the most desired end use segment, predicted to grow at a CAGR of 5.2% in the worldwide market.
· China’s metal IBC market projected to register a CAGR of 7.5% during the forecast period.
· The U.S. is expected to be the fastest growing metal IBC market due to expansion of industrial chemical sector and use case of metal IBC in waste disposal sector.
“Product innovation and inclusion of tracking system has significantly raised the sales of global metal IBC market. Key players are expected to witness lucrative opportunities on the back of investing more in developing lightweight and anti-wear metal IBC production and penetrating their products in the Asian market” – says FMI analyst.
Market Drivers:
- Durability and Strength:
- Metal IBCs are known for their durability and strength, making them suitable for transporting and storing various materials, including hazardous substances. This feature is often a key driver in industries where robust containers are required.
- Compliance with Regulations:
- Metal IBCs may be preferred in industries with stringent regulations regarding the transportation and storage of certain materials, such as chemicals. Their ability to meet regulatory standards can drive demand.
- Reusable and Recyclable:
- Metal IBCs are often reusable, leading to cost savings and reduced environmental impact. Their recyclability aligns with sustainability goals, attracting businesses looking for eco-friendly packaging solutions.
- Compatibility with Various Substances:
- Metal IBCs are compatible with a wide range of substances, including those with high chemical reactivity. This versatility makes them appealing for industries dealing with diverse materials.
- Globalization of Trade:
- As international trade continues to grow, the demand for reliable and robust containers for shipping goods across borders increases, benefiting the metal IBC market.
Market Restraints:
- Weight and Transportation Costs:
- The weight of metal IBCs can be a disadvantage, as it may contribute to higher transportation costs compared to lighter alternatives. This can be a significant consideration for businesses focused on cost efficiency.
- Corrosion Concerns:
- Despite being durable, metal IBCs can be susceptible to corrosion, especially if they come into contact with corrosive substances. This limitation may lead some industries to opt for alternative materials.
- Initial Investment:
- The upfront cost of acquiring metal IBCs can be higher compared to alternative materials such as plastic. Industries with budget constraints or those prioritizing cost-effectiveness may be hesitant to invest in metal containers.
- Environmental Impact:
- While metal IBCs are recyclable, the production process and energy consumption involved in their manufacturing can have environmental implications. Businesses emphasizing sustainability may explore greener alternatives.
- Material Compatibility:
- In some cases, certain materials may not be compatible with metal, leading industries to choose other materials that better suit their specific needs.
Global Metal IBC Market Landscape
Some of the leading players included in the global metal IBC market are players like
- Thielmann US LLC,
- Precision IBC, Inc.,
- Automationstechnik GmbH,
- Sharpsville Container Corporation,
- Hoover Ferguson Group,
- Snyder Industries Inc.,
- Yenchen Machinery Co., Ltd.,
- Custom Metalcraft Inc.,
- Metano IBC Services Inc.,
- Pensteel Ltd.
Recent Developments-
- In March 2022, Thielmann presented stainless steel metal IBC in the Vinitaly -Int. l wine and spirits exhibition.
- In November 2021, Precision IBC, Inc. Acquires Metano IBC Services, Inc. Through this acquisition, the company is planning for increasing consumer reach and fulfill the increasing demand for metal IBC.
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Global Metal IBC Market By Category
By Material Type:
- Stainless
- Carbon
By Capacity Type:
- Up to 1,000 liters
- 1,001-1,500 liters
- 1,501-2,000 liters
- Above 2,000 liters
By End Use:
- Industrial Chemicals
- Petroleum and Lubricants
- Food and Beverages
- Building and Construction
- Pharmaceutical
- Others (Waste Disposal/Recycling and 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.
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