Industrial Bulk Packaging Market Size, Share & Trends Analysis Report - By Application (Pharmaceuticals, Chemicals & Petrochemicals, and Food & Beverages), By Product (Drums, IBC, and Pails), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Global Industrial Bulk Packaging market was estimated at 23 (USD Billion) in 2019 and set to record a CAGR of more than 4% over 2020-2026.

11-Sep-2020 | Number of pages: 110 | Report Code: ZMR-5383 | Report Format : | Status : Published

Abstract

The global Industrial Bulk Packaging market was estimated at 23 (USD Billion) in 2019 and set to record a CAGR of more than 4% over 2020-2026. The report offers valuation and analysis of Industrial Bulk Packaging market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).

Introduction

Industrial bulk packaging is carried out by using intermediate bulk containers like IBC tank, pallet tank, and IBC tote. Moreover, intermediate bulk containers are re-usable and can handle a huge mass. In addition to this, intermediate bulk containers are utilized during transportation of many products as well as for liquid storage. Moreover, the surge in the industrial activities and a prominent bulge in the shipping of goods will augment the market growth over the forecast timeline.

Industrial Bulk Packaging Market

Market Growth Dynamics

The thriving pharmaceutical sector has resulted in surge in the use of industrial bulk packaging. In addition to this, increase in the need for material storage capacity will steer the industry trends. Additionally, use of bio-degradable plastic materials has helped in attaining the economies of scale and this will drive the business growth. Apparently, the usage of recyclable plastics as raw materials fulfills the need of many industries due to its favorable features like lightweightedness, durability, and reliability. Hence its use in the industrial bulk packaging will further create lucrative growth avenues for the market over the ensuring years.

Furthermore, surge in the cross-border trade and logistics activities are anticipated to offer new growth opportunities for the market over the forecast timespan. Apparently, the focus of manufacturers to develop products tailored to customer requirements will drive the industry growth. Nonetheless, the complicatedness witnessed in the supply chain activities are posing major issues for the manufacturers and this can obstruct the growth of the market over the forthcoming years.

Asia Pacific To Contribute Huge Market Share Over 2020-2026

The growth of the market in Asia Pacific over the forecast timespan is due to a prominent increase in the industrial spending. Moreover, huge presence of small and medium-sized firms in the region along with entry of new players due to easy availability of capital, land, and labor at reduced costs will scale up the industry growth in the sub-continent in the foreseeable future.

Key players profiled in the report and influencing the market growth are Myers Container, Grief, Peninsula Drums, Composite Containers LLC, Eagle Manufacturing Company, Time Technoplast Ltd., Cleveland Steel Container, BWAY Corporation, International Paper, and Hoover Ferguson Group, Inc.

The global industrial bulk packaging market is segmented as follows:

By Product

  • Drums
  • IBC
  • Pails
  • Totes/ Cracks
  • Others

By Application

  • Chemicals & Petrochemicals
  • Food & Beverages
  • Pharmaceuticals
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Frequently Asked Questions

The thriving pharmaceutical sector has resulted in surge in the use of industrial bulk packaging. In addition to this, increase in the need for material storage capacity will steer the industry trends. Additionally, use of bio-degradable plastic materials has helped in attaining the economies of scale and this will drive the business growth.

According to Zion market research, the industrial bulk packaging market accrued revenue worth USD 23 billion in 2019 and is projected to record a CAGR of over 4% during the period from 2020 to 2026.

Asia Pacific is likely to make noteworthy contributions towards global industrial bulk packaging market revenue. The growth can be attributed to huge presence of small and medium-sized firms in the region along with entry of new players due to easy availability of capital, land, and labor at reduced costs.  The use of bio-degradable plastic materials has helped in attaining the economies of scale and this will drive the business growth.

The key players profiled in the report include Grief, Composite Containers LLC, Cleveland Steel Container, BWAY Corporation, International Paper, Myers Container, Eagle Manufacturing Company, Peninsula Drums, Time Technoplast Ltd., and Hoover Ferguson Group, Inc. These players are trying to expand their market share and establish dominant market position in the foreseeable future. Moreover, new product innovations and addition of new products to the existing product line will boost the market growth in the foreseeable future.


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