Intermediate-Bulk-Container-IBC-Market

Driving Efficiency and Sustainability: The Growing Impact of the Intermediate Bulk Container Market

TEXES, AUSTIN, UNITED STATES, June 4, 2024 /EINPresswire.com/ — The Intermediate Bulk Container Market Size was valued at USD 24.21 Billion in 2023 and is expected to reach USD 34.5 Billion by 2031, reflecting a CAGR of 5.6% over the forecast period (2024-2031).

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Top Key Players:

 Bulk Lift International

Greif Inc

WeidenhammerPackunghen

Berry Plastics

Mauser Packaging Solutions

Schuetz Container System,

Time Techno Plast Ltd

OMCE di

TPL Plastech Ltd.

Rocchetti Amleto S.p.A

Snyder Industries, Inc.,

Increasing Demand for Efficient and Cost-Effective Bulk Transportation Solutions Drives Market Growth

The expansion of manufacturing and construction sectors, especially in developing regions like Asia Pacific, is a major driver for Intermediate Bulk Containers. This diligence bears effective and cost-effective results for storing and transporting bulk accouterments. IBCs fit the bill impeccably due to their continuity, reusability, and fairly lower cost compared to other options like cans or rigid holders. The rise in industries across multiple sectors like chemicals, food & beverages, and medicine is fueling the demand for IBCs. This diligence deals with large volumes of liquids, semi-solids, and dry goods, and IBC gives a safe and effective way to handle them. Globalization and the ever-adding volume of transnational trade are significant factors driving the IBC request. IBCs are biddable with transnational regulations for transporting dangerous and non-hazardous accouterments, making them the favored choice for global shipments.

Segment Analysis by Material: Dominance and Differentiation

The market is segmented based on material (plastic and metal) and application (chemicals, pharmaceuticals, food & beverages, and others). Plastic currently dominates the market, accounting for over 69% of the revenue share in 2023. This dominance can be attributed to factors like lightweight design, cost-effectiveness, and high durability offered by plastic IBCs, particularly those made from high-density polyethylene (HDPE). HDPE IBCs are particularly well-suited for storing hazardous chemicals and sensitive ingredients in the manufacturing sector due to their exceptional strength and weather resistance.

While plastic holds the top spot, metal IBCs are anticipated to witness significant growth in the coming years due to their reusability and stacking capabilities, making them ideal for transporting bulk liquids and powders.

Impact of Russia-Ukraine War and Economic Slowdown

The war has caused significant dislocations in global force chains, making it difficult to transport raw materials demanded for IBC products. This can lead to detainments and shortages, impacting both manufacturers and users of IBCs. The war and profitable factors have driven up the prices of raw accouterments like plastic and essence. This increases the product cost of IBCs, squeezing profit perimeters for manufacturers and potentially leading to price hikes for consumers. The economic slowdown has led to dropped industrial activities and lower consumer spending. This can lead to a drop in demand for IBCs across colorful sectors that calculate on bulk transportation of accouterments.

Key Regional Developments: Asia Pacific Leads the Charge

The Asia Pacific region emerged as dominant in the Intermediate Bulk Container Market, capturing a share of more than 44%. This dominance stems from the region’s burgeoning industrial sector, fueled by rising government investments and the presence of a large workforce. Additionally, the ease of setting up small and medium-sized enterprises (SMEs) in the region due to favorable factors like cheap labor and land further bolsters market growth in APAC.

Europe follows closely behind as the second-largest market, driven by the robust pharmaceutical industry and a growing geriatric population requiring an increased supply of pharmaceuticals.

Recent Developments:

In Mar 2024, Greif, a leading packaging solutions provider, collaborated with CDF Corporation to introduce a redesigned GCUBE IBC Flex, specifically designed for transporting sensitive liquids under sterile conditions.

In Oct 2023, CDF Corporation launched a new production line for Form-Fit IBC liners, catering to specific application needs.

In Nov 2020, Elkhart Plastics, Inc. (EPI) introduced the Tuff Stack Pro, an IBC featuring an inner cylindrical tank encased within a heavy-duty frame.

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Key Takeaways:

The report provides a comprehensive analysis of the market, including growth drivers, restraints, opportunities, and challenges.

It offers insights into key market segments and their growth prospects.

The report analyzes the impact of global trends and regional developments on the market.

Clients can leverage the report’s valuable insights to make informed business decisions, identify potential growth opportunities, and adapt to market dynamics.

Akash Anand
SNS Insider | Strategy and Stats
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Originally published at https://www.einpresswire.com/article/717147580/intermediate-bulk-container-market-to-reach-usd-34-5-billion-by-2031-driven-by-booming-e-commerce-and-globalization

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