The MENA industrial packaging market is poised to record a CAGR of 5.7% over the projected period, 2016 to 2024. The growth is primarily attributed to enhancing situations in international trade. The focus in the MENA region has been in recent times switched towards non-oil based industrial activities since the long-term dependency on crude oil business is progressively fading.
“End-use industries such as rubber and plastics, automotive, agriculture and electronics are projected to reflect an incremental development in MENA region amid the forecast period. Thus, the demand for industrial packaging will be foreseeing a sharp rise leading to the market expansion.” says an FMI analyst.
- Paper & paperboard-based packaging material will attain majority of the market share during the forecast period.
- Intermediate bulk containers (IBCs) packaging is slated to drive the demand for industrial packaging in MENA
- The chemicals & pharmaceuticals sector is projected to dominate the overall market.
- North Africa and GCC are identified as the key markets that holds over 60% of overall market.
- Extended use of bigger size and high value container is complementing the growth of the market.
- Increasing focus of non-oil economy by Middle Eastern governments is anticipated to benefit the market.
- Growing demand from manufacturing sector owing to demand for convenient, lightweight and cost-effective industrial packaging solutions is catalyzing the market growth.
- Strict government rules and regulations might act as an obstacle in the MENA market.
- Growing awareness regarding the usage of synthetic plastics is harmful for the environment is impacting the market growth.
For information on the Research Approach used in the Report, Request Methodology@ https://www.futuremarketinsights.com/ask-question/rep-ma-3880
COVID-19 Impact on the Market
The COVID-19 pandemic has prompted some of the sharpest declines, recently in demand for certain sort of packaging whereas fast-tracking growth for others. The industrial packaging market in MENA witness sharp decline in sales owing to a decrease in industrial activities. At the same time, several categories-such as packaging for the pharmaceutical and food industries continues to foresee robust demand. FMI in its recent study opines that the market will regain its pre-crisis sales by the 2021 end or 2022 beginning.
Industrial packaging market players are actively engaged on improving their product offerings. Several of the market players are changing their raw materials according to the shift of consumers towards convenience packaging.
Major companies identified in the MENA’s market are Time Technoplast Ltd., International Paper, Mauser Group B.V, Balmer Lawrie & Co. Ltd., Grief, Inc., Gulf Plastic Industries Company, and Clouds Drums LLC.
About the Study
The study offers readers a comprehensive assessment of the industrial packaging Market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of material type (metal, plastic, paper & wood and fibre), product type (sacks, drums, ibcs, crates, pails, bulk boxes, and others) packaging type (flexible and rigid), end use (chemicals & pharmaceuticals, food and beverage, building & construction, automotive, plastics & rubber, agriculture & horticulture, oil & lubricants, electronics, engineering, metal products, tobacco and others), cross region (GCC, North Africa, South Africa and Rest of MEA).
Table Of Content
1. Executive Summary – Industrial Packaging Market
2. Assumptions & Acronyms Used
3. Research Methodology
4. Market Overview – Industrial Packaging Market
4.1.1. Industrial Packaging Market Definition
4.1.2. Industrial Packaging Market Taxonomy
4.2. Industrial Packaging Market Dynamics
4.2.2. Macro-economic Factors Affecting Industrial Packaging Market
4.3. Value and Supply Chain Analysis
4.4. Market Overview
4.4.1. Industry Chain
4.4.2. Profitability Margins
4.4.3. List of Active Participants
18.104.22.168. Raw Material Suppliers
22.214.171.124. Intermediate Products
126.96.36.199. Distributors / Retailers
4.5. Pricing Analysis
4.5.1. Pricing Assumptions
4.5.2. Price Projections
4.6. Market Volume Analysis
4.6.1. Regional Production Outlook
4.6.2. Regional Consumption Outlook
4.6.3. Regional Production Vs. Consumption Outlook
4.7. Industrial Packaging Market Forecast, 2016-2024
4.7.1. Industrial Packaging MarketSize (Value) Forecast
188.8.131.52. Y-o-Y Growth Projections
184.108.40.206. Absolute $ Opportunity
4.8. Industrial Packaging Market Trends
4.9. Industrial Packaging Market Snapshot (2016)
4.9.1. Market Share By Material Type
4.9.2. Market Share By Product Type
4.9.3. Market Share By Packaging Type
4.9.4. Market Share By End Use
4.9.5. Market Share By Region