Sales of container containers have increased significantly across industries such as FMCG, chemicals, paints and petroleum. Future Market Insights (FMI) forecasts intermediate bulk container (BIC) sales to grow at a CAGR of 6.8% by 2031.
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There are many products that are not traded in different regions due to the lack of effective packaging types for transporting them. Intermediate bulk containers (RIBC and FIBC) are cost-effective packaging solutions that ensure that products are shipped to importers in their original form.
Greif Inc., SCHUTZ GmbH & Co. KGaA and Mauser Packaging Solutions are top players operating in the intermediate bulk container market. In addition, Berry Global Inc., International Paper Company, DS Smith Plc, Mondi Group also, attention in the intermediate bulk container market to collect you. The three-tier player in the market holds 55-65% in the global intermediate bulk container market. To summarize all the major players, it contributes almost 35-45% of the global market.Key segment
By product:
RIBC metal
Paperboard plasticcomposite
FIBC Flexitanks bag
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By material:Metal and paperboard plastic on PP PVC Key points from the intermediate bulk container market By product, the flexible IBC segment is ahead, leading the global intermediate bulk container market. Due to its biodegradability, the target segment is expected to hold a market share of over 94% by the end of the forecast period. Plastic is the most preferred material among end users due to its long shelf life and safety. The plastics segment is expected to grow 1.9 times its current market value over the next decade. IBC is primarily used to store and transport solid and semi-solid content. Therefore, it is estimated that this segment will lead the market with a share of about 92% due to the nature of the transportation materials. Capacity diversifies flexible and rigid IBC on different scales.
RIBCs with capacities of 1,001 to 1,5000 Ltr are estimated to grow 2.5 times their current values in the near future. However, this segment will be dominated by FIBC, which is projected to hold major chunks of nearly 92% of the market by 2031. FMI predicts that RIBC consumption will consistently increase in the chemical industry due to the storage of dangerous solutions. This segment is estimated to create a US $ 1 billion incremental opportunity from 2021 to 2031. In Europe, it is expected to remain a lead and hold more than one-third of its share in the global market.
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Exploring undeveloped areas for product exports will create a wealth of opportunities for the growth of the IBC market. For example, according to the Institute of Organic Agriculture, Europe has the highest consumption capacity for organic foods.
Shipping these organic products from different regions requires the use of bulk bags , further arming the markets in this region. FIBC is considered the best choice for food exports.High demand for advanced containers for bulk liquid transport increases sales
Most European countries are steadily recovering from the recent recession caused by the pandemic, and trade activity may increase over the forecast period. This, coupled with the healthy growth of IBC trade volumes in East and South Asia, is expected to play an important role in stabilizing world trade.
With notable links in the supply and demand chain of industrial packaging, it is clear that manufacturing has stabilized production and demand for industrial packaging has increased.
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