New York, Dec. 20, 2021 (GLOBE NEWSWIRE) -- Plastic Rigid IBC Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Plastic Rigid 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 above 2000 liters), End Use (Industrial Chemicals, Petroleum & Lubricants, Food & Beverages, Paints Inks Dyes, Pharmaceuticals, and Others) — Forecast till 2030”, the market is expected to grow at a CAGR of 7.2% during the forecast period (2022-2030).
Eminent industry players profiled in the global Plastic Rigid IBC industry report include
- Greif, Inc. (US)
- Schutz Container Systems (US)
- Maschiopack GmbH (Germany)
- Bulk Handling Australia (Australia)
- SCHÜTZ GmbH & Co. KGaA (US)
- ZIBO JIELIN Plastic Pipe Manufacture Co., Ltd. (China)
- Snyder Industries, Inc. (US)
- WERIT Kunststoffwerke W. Schneider GmbH & Co.KG (Germany)
- Sintex Industries (India)
- Hoover Ferguson Group, Inc. (US)
- Among others.
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Competitive Landscape
The global plastic rigid IBC market appears highly competitive, characterized by the presence of several notable players. These players incorporate strategies, such as mergers & acquisitions, collaboration, expansion, and technology/product launch to gain a larger competitive advantage.
For instance, recently, on Sep.20, 2021, Mauser Packaging Solutions announced significant investments to buy advanced equipment to expand its intermediate bulk container (IBC) and plastics drum production capabilities in its facility at Gebze, Turkey. These investments would also further support the region's collection and supply of reconditioned packaging.
Over the past couple of years, MAUSER Group has been presenting innovative and sustainable packaging solutions for the future circular economy. The company is also continually working on expanding its intermediate bulk container business footprint and additional manufacturing support.
The plastic rigid IBC market demonstrates continual growth, predominantly due to the spurring rise in food & beverage, oil & gas, and chemicals industries. Extensive absorption of plastic rigid intermediate bulk containers (IBC) to store and transport various solid and liquid items propels the market size. Increasing usages of rigid plastic IBCs for food storage create huge market demand.
With the growing developments of innovative storage containers, the market is expected to garner significant gains during the next few years. According to Market Research Future (MRFR), the global plastic rigid IBC market is forecasted to witness a substantial rise by 2030, growing at a 7.2% CAGR during the anticipated period (2022 – 2030).
Government initiatives for promoting eco-friendly storage materials provide additional impetus to market growth. The growing focus on sustainable IBCs with barrier properties and a unique load securing system influences market revenues. Moreover, substantial investments made into developing biodegradable and eco-friendly materials and plastic drums made of recycled materials boost the market value.
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IBCs and rigid plastic packaging are the two fastest-growing segments within the industrial packaging industry. These will not only serve as a critical part of the market growth but will also provide the necessary support for the industry expansion. The global market witnesses vast demand from 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 broad-based improvement in several key end-users. The market will continue to benefit from these factors and witness solid volume performance across all key segments with impressive growth.
Industry players focus on operational execution, capital discipline, and developing a solid & diverse product portfolio. They are expected to continue to focus on restructuring activities, including optimizing and integrating operations and rationalizing operations in the global industrial packaging segment.
COVID-19 Impacts
Onset of the COVID-19 waves hit the plastic rigid IBC industry hard. Though the market demand was significantly robust, IBC manufacturers faced huge revenue losses. The lockdown mandates halted the production of several key raw materials required to manufacture IBCs. This, as a result, spiked product prices and lowered the market demand.
Resultantly, the plastic rigid IBC market had to face severe consequences. However, the market is rapidly returning to normalcy, witnessing a steadily increasing demand. Moreover, the rising consumption of cans is estimated to offer robust market opportunities during 2021 and beyond.
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Segmentations
The plastic rigid IBC market is segmented into materials, capacities, end-uses, and regions. The material segment is bifurcated into HDPE, LDPE, LLDPE, PVC and others. Of these, the HDPE segment accounts for the largest market share due to the extensive flexibility and cost-effectiveness of HDPE IBC containers.
The capacity segment is bifurcated into up to 500 Ltrs., 500-1000 Ltrs., 1000-1500 Ltrs., 1500-2000 Ltrs., and above 2000 Ltrs. Among these, the 500-1000 litters segment accounts for the largest market share, mainly due to the rising demand from end-use verticals, such as food & beverages, petroleum & lubricants, and agrochemicals. The segment is further expected to grow at the highest CAGR during the assessment period.
The end-use segment is bifurcated into chemicals, petroleum & lubricants, food & beverages, paints, inks, dyes, pharmaceuticals, and others. Among these, the food & beverages segment accounts for the largest market share, witnessing the rising demand for plastic rigid IBC containers for storage and transportation of bulk food products and various beverages.
The petroleum & lubricants segment is also expected to demonstrate significant growth mainly due to the increasing automobile sales worldwide. By regions, the market is segmented into the Americas, Asia Pacific, MEA, Europe, and rest-of-the-world.
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Regional Analysis
The Asia Pacific region dominates the global plastic rigid IBC market. Rapid industrialization and technological developments boost the region's market size. Besides, rapidly increasing manufacturing activities and expanding industrial sectors in the region drive the market's growth.
Japan, China, Singapore, and India are the largest market for plastic rigid IBCs due to the rapid economic growth in these countries. Additionally, rising transportation and bulk storage needs from the F&B and chemical industries in the region substantiate the region's market shares.
Segmentation of Market covered in the research:
Plastic Rigid 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 above 2000 liters), End Use (Industrial Chemicals, Petroleum & Lubricants, Food & Beverages, Paints Inks Dyes, Pharmaceuticals, and Others) — Forecast till 2030
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Report Scope:
| Report Attribute/Metric | Details |
| Market Size | 2030: Significant Value |
| CAGR | 7.2% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Material, Capacity and End Use |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Schutz Container Systems (US), Greif, Inc. (US), Maschiopack GmbH (Germany), SCHÜTZ GmbH & Co. KGaA (US), Bulk Handling Australia (Australia), ZIBO JIELIN PLASTIC PIPE MANUFACTURE CO., LTD (China), WERIT Kunststoffwerke W. Schneider GmbH & Co.KG (Germany), Snyder Industries, Inc. (US), Sintex Industries (India), Hoover Ferguson Group, Inc. (US) among others. |
| Key Market Opportunities | Rapid growth in industrialization |
| Key Market Drivers | Rapidly increasing manufacturing activities Expansion of the industrial sector |
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