Pune, March 17, 2023 (GLOBE NEWSWIRE) -- The SNS Insider reports that the Intermediate Bulk Container Market was valued at USD 1.15 billion in 2022 and is projected to expand to USD 1.90 billion by 2030, with a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2023 to 2030.
Market Overview
Intermediate Bulk Container, also known as IBC, is a type of container used for the storage and transportation of bulk materials. One of the key benefits of IBCs is their versatility. They can be used to store and transport a wide range of materials, including chemicals, food products, pharmaceuticals, and more. They are also highly durable and can withstand a range of weather conditions, making them suitable for use both indoors and outdoors.
Market Analysis
The intermediate bulk container market is experiencing a significant surge in demand, largely due to its widespread adoption across various industries and the expansion of global trade. IBCs, which are versatile and cost-effective, are increasingly being used for the transportation and storage of liquids, powders, and granular materials. Additionally, the IBC market is poised to benefit from the growing trend towards sustainable packaging solutions. Many companies are recognizing the environmental benefits of IBCs, which can be reused and recycled, reducing waste and promoting sustainability. As the aging population grows, the demand for pharmaceuticals is expected to increase, driving the need for efficient and safe transport and storage solutions.
Major Key Company Profiles Listed int this Report Are:
- Bulk Lift International
- Conitex Sonoco
- Greif Flexible Products and Services
- Weidenhammer Packunghen
- BWAY Corporation
- Berry Plastics
- Inertape Polywer Group
- Halsted
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Intermediate Bulk Container Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 14.60 Billion |
| Market Size by 2030 | US$ 21.79 Billion |
| CAGR | CAGR of 6.4% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Market Segments | • By product type (Flexitanks, Rigid Intermediate Bulk Containers, Flexible Intermediate Bulk Containers, Bulk Container Liners) • By Grade (Type A, Type B, Type C, Type D, Food Grade) • By Application (Food & Beverages, Chemicals, Pharmaceuticals, Petroleum, Others) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Impact of Russia-Ukraine Conflict
The Russia-Ukraine conflict has had a significant impact on the IBC market, particularly in terms of transportation, supply chain, and sourcing strategies. However, the extent of the impact may vary depending on the specific companies and regions involved. As the conflict continues, it remains to be seen how the IBC market will continue to be affected.
Key Regional Developments
The intermediate bulk container market has witnessed significant growth in the Asia Pacific region, making it a key area of focus for the industry. The Asia Pacific region has become a hub for industrial production, with several countries investing in manufacturing infrastructure and expanding their production capabilities. This has resulted in a growing need for efficient and cost-effective transportation and storage solutions, which has further boosted the demand for industrial bulk containers.
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Key Takeaway from Intermediate Bulk Container Market Study
- The Intermediate Bulk Container (IBC) market has witnessed significant growth in recent years, with the chemicals and petrochemicals segment emerging as the largest application segment. The use of IBCs has become increasingly popular in the chemicals and petrochemicals industry due to their excellent storage and transportation capabilities.
- Among the various types of IBCs available in the market, flexitanks have emerged as a popular choice among end-users due to their superior flexibility, ease of use, and high storage capacity.
Recent Developments Related to Intermediate Bulk Container Market
- Myers Industries, a leading manufacturer of plastic and rubber products, made an announcement at PACK EXPO 2022: the introduction of reusable packaging solutions. This new offering is expected to revolutionize the packaging industry by reducing waste and promoting sustainability.
- Greif, a global leader in industrial packaging solutions, has recently announced the rebranding of its product circularity program. The program, which was previously known as the "Greif Green Tool Box," has been renamed to "Circular Works" to better reflect its purpose and mission.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 Forces Model
7. PEST Analysis
8. Intermediate Bulk Container Market Segmentation, By Product
9. Intermediate Bulk Container Market Segmentation, By Grade
10. Intermediate Bulk Container Market Segmentation, By Application
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion
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