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More than 596,600
units of intermediate bulk containers were sold in 2018, which are likely to
witness around 6.3% increase by the end of 2019. According to a new research
study presented by Future Market Insights (FMI), the global revenue of intermediate bulk containers (IBC) market is set to cross a US$ 10 billion market
by 2020.
“Intermediate bulk
containers have emerged as an efficient and relatively economical alternative
in bulk packaging applications, over conventional drums. As the packaging
industry is accelerating its shift away from plastics and plastic-based
composites, the report points to spectacularly increasing demand for paper and
paperboard-based intermediate bulk containers,” says the report by FMI.
- Strong growth in the preference
for flexible packaging solutions over rigid counterparts is driving FIBCs
(flexible IBCs) to hold a larger value share over RIBCs (rigid IBCs) in
intermediate bulk container market
- Accounting for an approximate
value share of 80%, collectively, food & beverages, industrial
chemicals, and building & construction industries remain predominant
consumers of intermediate bulk container market
- High suitability for
transportation and storage of corrosive chemicals is accounting for
towering sales of HDPE-bottled RIBCs in intermediate bulk container market
- Environmental stress cracking
resistance is emerging a vital QA measure for manufacturers of
intermediate bulk containers
Paper Intermediate
Bulk Containers Gaining Traction in F&B Industry
A majority of
intermediate bulk container demand remains concentrated in food &
beverages, industrial chemicals, and building & construction industries, as
indicated by the study. IBC adoption in F&B industry is however witnessing
a higher annual growth rate, says the report.
Paper and paperboard
intermediate bulk containers are recently gathering traction in the food and
beverages vertical. In addition to economical handling costs, a significantly
less filling and discharging time associated with paper intermediate bulk
containers is positioning them as an ideal IBC candidate for the F&B
industry.
An additional benefit
in terms of transporting and warehousing space consumption is also cited as an
important factor pushing adoption of paper intermediate bulk containers among
food and beverages industry operators.
A variety of RIBCs
remain the preferred standard choice for packaging and transportation of bulk
chemicals, and paints & dyes, whereas emerging application opportunities in
non-hazardous bulk fluid transportation are projected to provide a strong push
to the demand for FIBCs – especially flexitanks. The report spots substantial
applicability of flexitanks to be arising in segments such as juices, syrups,
& other food-grade liquids, wines, and oils.
Maturity of Western
European Market to Prevail
According to the
study, a majority of Europe’s intermediate bulk containers demand relies on
imports from South Asia. While Western Europe’s demand for intermediate bulk containers is on the brink of maturity, the impressively growing
acceptance of non-plastic IBC alternatives is posing a significant impact on
the growth of Eastern Europe’s intermediate bulk container market.
Holding a prominent
position in the intermediate bulk containers export scene, South Asian
countries - especially India, are projected for an impressive growth outlook in
global landscape over the course of coming years. Expanding manufacturing
industries, rampant growth of the building & construction vertical, and
strong presence of major F&B industry operators are favoring the demand
growth of industrial bulk containers market within the region.
India, the world’s
largest flexible intermediate bulk containers exporter, is poised for over 11%
yearly growth in the revenue in 2019. China’s nearly US$ 1.4 billion market for
intermediate bulk container also continues to demonstrate robust expansion,
pushing prospects of East Asia further.
Intermediate bulk
container manufacturers are likely to collaborate with shipping companies over
the development of tracking-enabled intermediate bulk containers that update
precise status of packaged products directly to customers. A few prominent
players currently involved in R&D of RFID enabled IBCs include Metano IBC
Services, Inc., CHEP (U.S.A.) Inc., and Hoyer Group.
Driven by rapid growth
of small scale manufacturing sector worldwide, economic opportunities residing
in renting, reconditioning, and refurbishing of RIBCs are projected to attract
leading companies as well as retailers and distributors active in intermediate
bulk containers market.
Industry giants such
as Mondi Group, BP Polymers, Schoeller Allibert, and others continue to augment
investments in IBC material innovations and new product launches in
intermediate bulk container market.
About Us
Future Market Insights
(FMI) is a leading market intelligence and consulting firm. We deliver
syndicated research reports, custom research reports and consulting services
which are personalized in nature. FMI delivers a complete packaged solution,
which combines current market intelligence, statistical anecdotes, technology
inputs, valuable growth insights and an aerial view of the competitive
framework and future market trends.
Contact Us
Mr. Abhishek Budholiya
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44 (0) 20 7692 8790
Sales: sales@futuremarketinsights.com
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44 (0) 20 7692 8790
Sales: sales@futuremarketinsights.com
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