Plastic Rigid IBC Market: 2021 Share, Growth and Forecast to 2027

 Convenience during Shipping to Favor Global Plastic Rigid IBC Market

Plastic rigid intermediate bulk containers (IBC) are reusable plastic containers used in transportation, handling, and storage of liquids, semi-solids, solids, and pastes. The types of rigid IBCs range between shipping drums to intermodal tank containers and moved with the help of forklifts or jack pallets. The global plastic rigid IBC market report by Market Research Future (MRFR) provides insights and estimations for the period of 2018 to 2023 (forecast period) by keeping into consideration the drivers and challenges. The impact of the COVID-19 pandemic and formulation of new strategies for expansion are outlined in the report.

Market Scope

The global Plastic Rigid IBC Market Size is expected to grow at a CAGR of 5.8% during the forecast period. It is expected a massive haul demand-wise owing to its efficiency and increased load capacity. Moreover, the evolution of plastic-derived containers and vessels and concerns addressed to storage and space can bode well for the market. In addition, policies outlined by food safety agencies and emphasis on food hygiene were welcome benefits for the market. Durability and recyclability of rigid IBCs and demand for plastic containers devoid of BPA are expected to benefit the market in the coming years.

Segmentation

The global plastic rigid IBC market has been divided on the basis of material, capacity, and end use. 

On the basis of material, the market has been segmented into HDPE, LDPE, LLDPE, PVC and others. Under the material segment, HDPE accounts for the largest market share. HDPE IBC containers are preferred due to their extensive flexibility and cost effectiveness.

On the basis of capacity, the market has been segmented into up to 500 liters, 500 to 1000 liters, 1000 to 1500 liters, 1500 to 2000 liters, and above 2000 liters. Plastic rigid IBC containers of 500 to 1000 liters dominate the capacity segment of the market and expect to grow at the highest CAGR during the forecast period. Rise in demand from various end-use applications like food & beverages and agrochemicals is driving the growth of this segment. On the other hand, the 1000 to 1500 liters segment is expected to contribute significantly during the forecast period mainly due to increasing demand for petroleum and lubricants.

On the basis of end-use, the market has been segmented into pharmaceuticals, industrial chemicals, paints inks dyes, petroleum & lubricants, food & beverages, and others. Food & beverages dominates the end-use segment and is expected to grow at a highest CAGR during the forecast period. Rise in demand for plastic rigid IBC containers across the food & beverage segment, attributed to growing demand for storage and transportation of bulk food products and various beverages across long distances from the manufacturing units. Huge demand for food ingredients and need for containers for preventing food spoilage has spurred the demand for rigid IBCs in the market. On the other hand, petroleum & lubricants is also expected to contribute significantly during the forecast period mainly due to increase in automobile sales.

Competitive Outlook

Greif, Inc., Hoover Ferguson Group, Inc., Snyder Industries, Inc., Maschiopack GmbH, Schutz Container Systems, WERIT Kunststoffwerke W. Schneider GmbH & Co.KG, ZIBO JIELIN PLASTIC PIPE MANUFACTURE CO., LTD, SCHÜTZ GmbH & Co. KGaA, Sintex Industries, and Bulk Handling Australia are key players of the global Plastic Rigid IBC Market Trends.

Regional Analysis

Geographically, the global market for plastic rigid IBC has been divided into four major regions — North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). 

APAC accounted for the largest market share, in 2017, followed by the Middle East & Africa and North America. Factors affecting the growth of this market are technological developments and rapid industrialization in this region. China and India are the largest contributors in this region due to GDP growth in developing economies, rapid increase in manufacturing activities, and expansion of the industrial sector driving the growth of the market.Rising transportation and storage in bulk quantities of chemicals, pharmaceutical ingredients, oil, and beverages in the region is also driving the growth of the market.  

In the RoW, the Middle East region is expected to contribute significantly during the forecast period mainly due to larger exports of petroleum oil.

Browse  Complete Report @ https://www.marketresearchfuture.com/reports/plastic-rigid-ibc-market-6897

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