Pune India, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Intermediate Bulk Container Market Size By Material (Metal, Corrugated, and Plastic), By End-User (Pharmaceuticals, Food, Chemicals & Petroleum, and Others), Regions, Segmentation, and forecast till 2030.
The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the intermediate bulk container market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the intermediate bulk container market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the material, end-user, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global intermediate bulk container market are Greif, Inc.; Mauser Packaging Solutions; Synder Industries System; Schuetz Container System; Hoovers Container Solutions, Inc.; Schafer Werke Gmbh; Mondi; Thielmann- The Container Company among others. To achieve a substantial market share in the worldwide intermediate bulk container market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Latest Development:
In March 2022, Mauser Packaging Solutions announced the receiving of UN certification for the composite intermediate bulk container manufactured from post-consumer resin.
Intermediate bulk containers are industrial-grade containers with closed shipping hulls that hold 119 to 793 gallons of liquid. They are intended for transporting and storing liquids defined by the United Nations and the Code of Federal Regulations, which include flammable and combustible liquids. IBCs can be made of plastic, metal, or a combination of materials. Composite IBCs are often made up of blow-molded plastic containers inside a plastic cage or a metal cage inside a corrugated box. Dow Chemical Company, ExxonMobil, and DuPont are among the world's leading chemical producers, with headquarters in the United States. Because IBCs are the preferred packaging solution in the chemical sector, they account for a sizable share of the chemical market. The use of IBC in the pharmaceutical industry is predicted to increase rapidly throughout the forecast period. This is attributable, in large part, to the presence of a large number of pharmaceutical companies in the United States. Furthermore, as chronic diseases become more widespread, the pharmaceutical industry is rapidly developing. This is likely to increase demand for intermediate bulk containers from the pharmaceutical industry during the forecast period. IBCs are also extensively employed in flood control operations across the country.
Scope of Intermediate Bulk Container Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Material, End-User, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Greif, Inc.; Mauser Packaging Solutions; Synder Industries System; Schuetz Container System; Hoovers Container Solutions, Inc.; Schafer Werke Gmbh; Mondi; Thielmann- The Container Company among others |
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Segmentation Analysis
The plastic segment is expected to be the fastest-growing segment in 2022.
The material segment is metal, corrugated, and plastic. The plastic segment is expected to witness the highest growth rate during the forecast period. When other forms of treatment for depression have failed, TMS machines are routinely utilised. The most effective way to treat depression is by giving patients antidepressant-like drugs because doing so boosts treatment effectiveness while lowering the likelihood of clinically significant side effects.
The chemicals & petroleum segment is expected to be the fastest-growing segment in 2022.
The end-user segment is pharmaceuticals, food, chemicals & petroleum, and others. The chemicals & petroleum segment is expected to witness the highest growth rate during the forecast period. IBCs are one of the most commonly utilised storage units in the chemical and petrochemical industries. These containers are perfect for transporting and storing petrochemicals and hazardous chemicals.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the intermediate bulk container include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Asia Pacific region witnessed a major share. Japan, China, and India are the largest markets in this region. The fundamental driver of regional market expansion has been rising industrial investment. The region also encourages the entry of small and medium-sized firms due to factors such as the availability of cheap land and labour. Such factors have accelerated APAC market expansion.
Country Analysis
- Germany
Germany's Intermediate Bulk Container market size was valued at USD 1.98 billion in 2022 and is expected to reach USD 3.35 billion by 2030, at a CAGR of 6.8% from 2023 to 2030. Germany is predicted to be the fastest expanding market since buyers in this region are increasingly open to digital technology as a consequence of manufacturers' ongoing attempts to include RFID tags into packaging solutions.
● China
China’s Intermediate Bulk Container market size was valued at USD 2.17 billion in 2022 and is expected to reach USD 3.7 billion by 2030, at a CAGR of 7% from 2023 to 2030. China was the world's largest chemical exporting country in 2019, with USD 74 billion in exports. China's lubricant market reached 7.3 million tonnes in 2019, according to Fuchs Petrolub, making it the world's largest lubricant-demanding country.
● India
India's Intermediate Bulk Container market size was valued at USD 1.6 billion in 2022 and is expected to reach USD 2.7 billion by 2030, at a CAGR of 6.9% from 2023 to 2030. During the peak of the COVID-19 outbreak, the governments of India instituted stringent lockdowns. This effectively halted manufacturing for about three months and resulted in a substantial backlog of orders. However, as conditions improve, the economy is in a state of recovery, and output in most APAC countries has improved. This has created a market opportunity for IBC providers to offer on-demand IBCs.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the intermediate bulk container market is mainly driven by the wide adoption in various industries and expanding global trade.
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