The composite IBCs system market size is projected to be valued at US$ 7,990.7 million in 2023 and is expected to rise to US$ 12,648.47 million by 2033. The sales of composite IBC systems are expected to capture a significant CAGR of 4.7% during the forecast period.
The composite intermediate bulk containers (IBC) system market is a rapidly growing and essential segment within the packaging industry. Composite IBCs are innovative and versatile containers designed to transport and store liquids, chemicals, and other sensitive materials safely and efficiently. As reliable cross-border transportation increases and businesses seek cost-effective shipping solutions, the demand for composite IBCs has surged.
Containerization has revolutionized the logistics and supply chain landscape by significantly reducing transportation costs and streamlining the shipping process. Composite IBCs are crucial in this containerization revolution, offering a durable, lightweight, and eco-friendly alternative to traditional packaging options.
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As industries prioritize cost-efficient and sustainable shipping practices, the composite IBCs system market continues to evolve and meet the changing needs of global trade and commerce.
- North America is dominant in the composite IBCs system market, with an estimated 21% share in 2022. The region’s strong exports and imports contribute to its rapid development in the market.
- Europe is predicted to hold a significant market share of 15% in the composite IBCs system market in 2022. The region’s growth is supported by stringent government controls on cross-border commerce and credible improvements in the cosmetics and pharmaceutical packaging sectors.
- Asia Pacific is projected to capture a 9% market share in the composite IBCs system market, driven by the expansion of industrial production in countries like China. The region’s substantial market for food, chemicals, and personal care products contributes to the increased demand for composite IBCs.
- Plastic IBCs are highly preferred, holding around 98% of the market share in 2020. Their recyclability and safety advantages over metal and paperboard IBCs make them the top choice for packaging solutions.
- The food & beverage industry remains a highly sought-after segment in the composite IBCs system market, holding over 90% of the market share in 2020. The industry’s significant demand in North America and Europe is expected to drive its continued dominance in the forecast period until 2033.
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Recent Developments
Schoeller Allibert, a European manufacturer of recyclable, reusable, and returnable plastic packaging solutions, has introduced ChemiFlow, an UN-approved Intermediate Bulk Container (IBC) intended to carry hazardous and highly corrosive chemicals securely. This demonstrates the company’s dedication to the chemical production and distribution business.
Greif released real-time tracking technology, GCube Connect, for composite Intermediate Bulk Containers (IBCs) in September 2020 to assist clients in boosting performance, cutting costs, and lowering their carbon impact. GCUBE Connect, with the support of the Internet of Things, improves visibility across the whole supply chain and allows clients to obtain real data on their products, enhancing sales, cutting freight costs, optimizing production planning, and automating procurement and sales processes.
Market Segmentation
By Material Type:
- Plastics
- Aluminum
- Carbon Steel
- Galvanized Iron
By End Use:
- Industrial Chemicals
- Paints
- Inks & Dyes
- Food & Beverage
- Building & Construction
- Pharmaceuticals
By Technology:
- Aseptic Technology
- Non-Aseptic Technology
By Capacity:
- 180 to 250 gallons
- 250 to 300 gallons
- 300 to 350 gallons
- Above 350 gallons
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
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