Increasing Global Demand For Industrial Bulk Packaging Market With Rising CAGR Forecast Till 2025|Grand View Research, Inc.


The global industrial bulk packaging market size is projected to reach USD 28.4 billion by 2025, escalating at a CAGR of 3.8% over the forecast period, according to a new report by Grand View Research, Inc. Bulk packaging products are expected to witness high penetration in the chemicals & petrochemicals sector over the forecast period. Industrial bulk packaging solutions have witnessed increased demand in the recent years owing to rising global industrial output, most notably in Asia Pacific.

The rising demand for reducing the cost of transportation and storage of industrial fluids across industries is another factor bolstering the consumption of industrial bulk packaging products. In this regard, products such as IBCs and pails are increasingly consumed to ensure optimal space utilization, thereby contributing favorably to industry growth. The industry is also driven by steps initiated by various governments around the world to increase domestic production of petrochemicals.

The bulk packaging market is characterized by the presence of both domestic and international market players. Grief, Cleveland Steel Container, Composite Containers LLC, International Paper, BWAY Corporation, Eagle Manufacturing Company, Myers Container, Time Technoplast Ltd., Peninsula Drums, and Hoover Ferguson Group, Inc. are some of the prominent market participants.

Browse Research Report On industrial bulk packaging Market:
https://www.grandviewresearch.com/industry-analysis/industrial-bulk-packaging-market

The Government of India (GoI) recently initiated a perspective planning concerning the petrochemical industry to boost domestic capacities (petrochemicals) as a part of its Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) policy. Such initiatives offer healthy prospects for industry growth. In terms of application, chemicals & petrochemicals segment emerged as the largest segment in 2018, holding a share of 40.1%

Further key findings from the report suggest:
  • In terms of product, the drums segment dominated the industrial bulk packaging market with a share of 40.6% in 2018; however, the segment is expected to lose share to segments such as IBCs and pails owing to the increasing demand for smaller formats of industrial bulk packing solutions
  • Europe was the second-largest market for industrial bulk packaging in 2018
  • The industry is characterized by intense competition with both domestic and international players trying to target prospective clients
  • Product differentiation and innovation were some of the preferred strategies deployed by key market players.
Pharmaceuticals segment is poised to register the fastest growth rate over the forecast period with the rising need for product safety (pharmaceuticals) coupled with advancements in scientific stacking methods (bulk packaging). Furthermore, increasing focus on the reduction of pharmaceutical wastage both during loading and unloading necessitates the employment of bulk packing products. The presence of aging population in Europe has been creating a substantial demand for industrial bulk packaging products in the pharmaceuticals space in the region.
North America emerged as one of the prominent regions for industrial bulk packaging. The U.S. was observed to be the most prominent market in North America and is characterized by the presence of leading international industry players. Furthermore, the North American market has been witnessing an increasing adoption of novel packaging products including flexible IBCs over the years. Such factors are expected to strengthen the regional market in the near future.

Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-industrial-bulk-packaging-market

In terms of product, drums segment dominated the industrial packing market in 2018 with a share of 40.6%. This segment is expected to retain its prominent position over the forecast period. Drums are preferred for the packaging and transportation of liquids and other products in large quantities. These products find widespread application in the chemicals & petrochemicals industry.
IBC segment is anticipated to witness the fastest growth rate over the forecast period. Rising demand for smaller formats of industrial bulk packing products, predominantly in the pharmaceuticals industry, is expected to fuel the growth of this segment over the forecast period. Pails are among the other most preferred products across various industries. The demand for pails is driven by advancements in pail manufacturing technology paired with product innovation.
Grand View Research has segmented the global industrial bulk packaging market on the basis of product, application.
Product Outlook (Revenue, USD Million, 2014 - 2025)
  • Drums
  • IBC
  • Pails
  • Totes/Cracks
  • Others
Application Outlook (Revenue, USD Million, 2014 - 2025)
  • Chemicals & Petrochemicals
  • Food & Beverages
  • Pharmaceuticals
  • Others
The chemicals & petrochemicals segment emerged as the largest application segment in 2018. This segment is expected to claim a market share of 36.9% by 2025 to retain its pole position. Drums and IBCs are among the most widely used packaging products in the chemicals & petrochemicals industry. These products are considered ideal for the transportation and storage of petrochemicals and hazardous chemicals.

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more