New York, December 20, 2021 (GLOBE NEWSWIRE) – Rigid Plastic IBC Market Overview: According to a comprehensive research report from Market Research Future (MRFR), “Rigid Plastic IBC Market Research report, by material (high density polyethylene (HDPE), low density polyethylene (LDPE), linear low density polyethylene (LLDPE), polyvinyl chloride (PVC) and others), capacity (up to 500 liters, 500 to 1000 liters, 1000 to 1500 liters, 1500 to 2000 liters and over 2000 liters), end use (industrial chemicals, petroleum and lubricants, food and beverages, paints, inks, dyes, pharmaceuticals and others) – Forecast to 2030“, The market is expected to grow at a CAGR of 7.2% during the forecast period (2022-2030).
Major industry players presented in the Global Plastic Rigid IBC Industry Report include
- Greif, Inc. (US)
- Schutz container systems (USA)
- Maschiopack GmbH (Germany)
- Bulk handling Australia (Australia)
- SCHÜTZ GmbH & Co. KGaA (United States)
- ZIBO JIELIN Plastic Pipe Manufacture Co., Ltd. (China)
- Snyder Industries, Inc. (United States)
- WERIT Kunststoffwerke W. Schneider GmbH & Co.KG (Germany)
- Sintex Industries (India)
- Hoover Ferguson Group, Inc. (US)
- Among others.
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The global Rigid Plastic IBC market appears to be highly competitive, characterized by the presence of several notable players. These players integrate strategies such as mergers and acquisitions, collaboration, expansion and technology / product launch to gain greater competitive advantage.
For example, recently, on September 20, 2021, Mauser Packaging Solutions announced significant investments to purchase state-of-the-art equipment to expand its production capacity of bulk containers (IBCs) and plastic drums at its plant in Gebze, in Turkey. These investments would also further support the collection and supply of reconditioned packaging to the region.
Over the past two years, The MAUSER group presents innovative and sustainable packaging solutions for the future circular economy. The company is also continuously working on expanding its commercial footprint of intermediate bulk containers and providing additional manufacturing support.
The market for rigid plastic IBCs is showing continuous growth mainly due to the boom in the food, oil and gas, and chemical industries. The extensive absorption of Intermediate Rigid Plastic Bulk Containers (IBCs) for storing and transporting various solid and liquid items is propelling the market size. The increasing use of rigid plastic IBCs for food storage is creating a huge demand in the market.
With the increasing development of innovative storage containers, the market is expected to register significant gains over the next few years. According to Market Research Future (MRFR), the global rigid plastic IBC market is expected to experience a substantial increase by 2030, reaching a CAGR of 7.2% during the forecast period (2022 – 2030).
Government initiatives to promote environmentally friendly storage materials are further boosting the growth of the market. The growing attention to sustainable IBCs with barrier properties and a unique load securing system is influencing market revenues. In addition, the substantial investments made in the development of biodegradable and environmentally friendly materials and plastic drums made from recycled materials increase the market value.
Browse the in-depth market research report (190 pages) on the Rigid Plastic IBC industry
IBCs and rigid plastic packaging are the two fastest growing segments within the industrial packaging industry. These will not only serve as a vital part of market growth, but also provide the necessary support for industry expansion. The global market is experiencing strong demand from the industrial packaging sectors, recording solid volume growth in chemicals, specialty chemicals and lubricants.
The ongoing recovery of industrial end-use segments allows the market to witness widespread improvement in several key end-users. The market will continue to benefit from these factors and will experience strong volume performance across all key segments with impressive growth.
Industry players focus on operational execution, capital discipline and the development of a strong and diverse product portfolio. They are expected to continue to focus on restructuring activities, including the optimization and integration of operations and the streamlining of operations in the global industrial packaging segment.
Impacts of COVID-19
The onset of COVID-19 waves has hit the rigid plastic IBC industry hard. Although market demand has been considerably robust, the manufacturers of IBC have suffered huge revenue losses. The foreclosure warrants halted production of several key raw materials needed to manufacture IBCs. This has resulted in higher product prices and lower market demand.
As a result, the rigid plastic IBC market has faced serious consequences. However, the market is quickly returning to normal, showing a steadily increasing demand. In addition, it is estimated that the growing consumption of canned food will provide strong market opportunities in 2021 and beyond.
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The plastic rigid IBC market is segmented into materials, capacities, end uses, and regions. The materials segment is divided into HDPE, LDPE, LLDPE, PVC and others. Among these, HDPE segment accounts for the largest market share due to the high flexibility and cost effectiveness of IBC HDPE containers.
The capacity segment is divided into up to 500 Ltrs., 500-1000 Ltrs., 1000-1500 Ltrs., 1500-2000 Ltrs., And above 2000 Ltrs. Among these, the 500-1000 liter segment accounts for the largest market share, mainly due to the increasing demand from end-use vertical markets, such as food and beverage, petroleum and lubricants and agrochemicals. The segment is further expected to grow at the highest CAGR during the evaluation period.
The end-use segment is divided into chemicals, petroleum and lubricants, food and beverages, paints, inks, dyes, pharmaceuticals and others. Among these, the food and beverage segment accounts for the largest market share, testifying to the growing demand for rigid plastic IBC containers for the storage and transportation of bulk food products and various beverages.
The petroleum and lubricants segment is also expected to show significant growth mainly due to increasing global auto sales. By regions, the market is segmented into Americas, Asia-Pacific, MEA, Europe and Rest of the World.
The Asia-Pacific region dominates the global rigid plastic IBC market. Rapid industrialization and technological developments are increasing the market size of the region. In addition, the rapidly growing manufacturing activities and expanding industrial sectors in the region are driving the growth of the market.
Japan, China, Singapore and India are the largest market for plastic rigid IBCs due to the rapid economic growth of these countries. In addition, the growing transport and bulk storage needs of the food and chemical industries in the region justify the region’s market shares.
Market segmentation covered by research:
Rigid Plastic IBC Market Research Report, By Material (High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE), Linear Low Density Polyethylene (LLDPE), Polyvinyl Chloride (PVC) and Others), Capacity (Up to to 500 liters, 500 to 1000 liters, 1000 to 1500 liters, 1500 to 2000 liters and over 2000 liters), end use (industrial chemicals, petroleum and lubricants, food and beverages, paints, inks, dyes, pharmaceuticals and others ) – Forecast until 2030
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Scope of the report:
|Report Attribute / Metric||Details|
|Market size||2030: Significant value|
|TCCA||7.2% CAGR (2022-2030)|
|Year of reference||2021|
|Forecast period||2022 to 2030|
|Historical data||2019 & 2020|
|Forecast units||Value (million USD)|
|Cover of the report||Revenue forecasts, competitive landscape, growth factors and trends|
|Covered segments||Material, capacity and end use|
|Geographical areas covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key suppliers||Schutz Container Systems (USA), Greif, Inc. (USA), Maschiopack GmbH (Germany), SCHÜTZ GmbH & Co. KGaA (USA), Bulk Handling Australia (Australia), ZIBO JIELIN PLASTIC PIPE MANUFACTURE CO ., LTD (China), WERIT Kunststoffwerke W. Schneider GmbH & Co.KG (Germany), Snyder Industries, Inc. (United States), Sintex Industries (India), Hoover Ferguson Group, Inc. (United States) between others.|
|Key market opportunities||Rapid growth in industrialization|
|Main market drivers||Rapidly growing manufacturing activities
Expansion of the industrial sector
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