Latin America Rigid Industrial Packaging Market is to Cross US$ 1026.7 million amid Rising Demand from Construction Sectors Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / June 12, 2023 / According to Future Market Insights (FMI), as cross-continental trade expands, so does the need for packing materials to safeguard goods in transit. The sales of rigid industrial packaging in latin America may expand as a result of this increased demand.

Latin American producers can diversify their product lines and widen their market penetration with increasing commerce. The market for rigid industrial packaging may expand as a result of the increased requirement for packaging options. This includes rigid industrial packaging solutions for a wide range of industrial goods from sectors like automotive and construction.

Businesses in Latin America may need to adhere to more stringent packaging laws and quality standards as they extend their worldwide markets. Because of its improved protection and compliance with these regulations, rigid industrial packaging can give businesses a competitive edge.

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in this sample report: https://www.futuremarketinsights.com/reports/sample/rep-gb-17330

There might be potential for foreign investment in the Latin American rigid industrial packaging sector as cross-continental trade expands. This investment may result in more innovation, the creation of new products, and the development of better packaging options.

These factors are expected to support the Latin American rigid industrial packaging market's remarkable CAGR of 3.5% over the forecast period of 2023 to 2033.

Key Takeaways from this Market Study:

• By product type, the drums, and jerry cans segment are projected to be highly attractive in terms of growth rate with a CAGR of 3.1%.
• Brazil is anticipated to account for around 36% of the market share by the end of the forecast period.
• Mexico is anticipated to hold around 31.7%of the market share by value by the end of the year 2033.
• The collective value share of the top 5 companies is expected to be around 45%
• The rest of Latin America is expected to hold around 32.9% of the market share by the end of 2033.

"The Latin America rigid industrial packaging industry is expanding due to increased demand from several industries such as food and beverage, chemicals, and pharmaceuticals. The market is predicted to surge further as a result of strong economic conditions and the rise of intercontinental trade, creating chances for investment and innovation," - says a lead analyst at Future Market Insights (FMI).

Growing Constructions to Drive the Latin America Rigid Industrial Packaging Market:

The Latin American construction industry is expanding rapidly, with infrastructural and residential developments boosting demand for building materials such as cement, concrete, and other construction items. These materials require packing solutions that can protect them from harm and assure their safe delivery to their final destination through transportation and storage.

Rigid industrial packaging is an important component of the construction supply chain due to its durability and strength. Furthermore, there is a growing emphasis on sustainable and eco-friendly packaging solutions. This has resulted in the development of biodegradable and recyclable plastics, driving market growth.

The Latin America rigid industrial packaging industry is likely to maintain its upward trend in the coming years, owing to the increase of intercontinental trade and excellent economic conditions.

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Impact of COVID-19 on Latin America Rigid Industrial Packaging Market:

The Covid-19 pandemic had a significant impact on the rigid industrial packaging market in Latin America. Supply chains were disrupted, causing shortages of raw materials and manufacturing components, resulting in production delays and a scarcity of rigid industrial packaging products.

Decreased industrial activity across sectors such as automotive, aerospace, and manufacturing led to reduced production and demand for packaging. Though, the pandemic also brought about a shift in consumer behavior, with a surge in e-commerce and home delivery services, increasing the need for packaging materials suitable for transportation and protection.

The heightened focus on hygiene and safety prompted companies to adopt stricter packaging standards, incorporating tamper-evident seals and antimicrobial coatings. As economies gradually recover, the rigid industrial packaging market is expected to regain momentum. This is also because are companies investing in innovative packaging solutions and technology to meet evolving customer needs.

Furthermore, sustainability considerations gained prominence, leading to an increased demand for eco-friendly and recyclable packaging options. While the pandemic caused short-term disruptions, it also presented opportunities for innovation and sustainability as the industry adapts to the new normal.

Competitive Landscape:

The key players in the market are gaining market value by developing innovations and advancements in the Latin American rigid industrial packaging industry.

Key manufacturers are directing toward growth strategies such as mergers and acquisitions, and product development to enhance their customer base. Recent activities and mergers implemented by the leading player in the market are:

• In November 2022, Alpla opened its second manufacturing plant in Angola's capital city Lusnda to extend its footprint.
• In November 2022, Mauser Packaging Solutions introduced the Envision series - high-performance bottles for high-performance products.

Latin America Rigid Industrial Packaging Market Landscape:

Some of the market players featured in the report are Grief Inc., Unipac Embalagens Ltda., Mauser Packaging Solutions, ALPLA Group, Kautex Textron GmbH & Co. KG, Berry Global Group, Inc., Schutz Container Systems, Inc, Plásticos Novel, Schoeller Allibert, Dolav Plastic Products. The Tier 3 players in the market hold 75 to 80% of the Latin America rigid industrial packaging industry. In conclusion, key players contribute almost 40 to 45% of the LA market.

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Latin America Rigid Industrial Packaging Market Report:

Future Market Insights (FMI), in its new report, offers an unbiased analysis of the Latin America rigid industrial packaging industry, analyzing historical demand from 2018-2022 and forecast statistics for 2023 to 2033.

The study reveals growth projections for the Rigid Industrial Packaging Market based on the material (high-density polyethylene (HDPE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC)), product type (drums, jerry cans, RIBC, pails, crates, pallets), end-use (agriculture, automotive, food & beverage, chemical, building & construction, pharmaceutical) across Latin America.

Market Outlook by Categorization:

By Material:

• High-Density Polyethylene (HDPE)
• Polypropylene (PP)
• Polyethylene Terephthalate (PET)
• Polyvinyl Chloride (PVC)

By Product Type:

• Drums
• Jerry Cans
• RIBC
• Pails
• Crates
• Pallets

By End Use:

• Agriculture
• Automotive
• Food & Beverage
• Chemical
• Building & Construction
• Pharmaceutical

By Country:

• Brazil
• Mexico
• Rest of Latin America

Table of Content (ToC):

1. Executive Summary

2. Market Overview

3. Key Market Trends

4. Key Success Factors

5. Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033

6. Market - Pricing Analysis

7. Market Demand (in Value or Size in US$ million) Analysis 2018 to 2022 and Forecast, 2023 to 2033

8. Market Background

9. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material

10. Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type

Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-17330

About the Packaging Division at Future Market Insights (FMI):

The packaging division at Future Market Insights (FMI) provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights (FMI) has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations.

With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

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About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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SOURCE: Future Market Insights, Inc.

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