Intermediate bulk containers sales have considerably increased across industries such as FMCG, chemicals, paints, and petroleum. Future Market Insights (FMI) has predicted the sales of intermediate bulk containers (BIC) to increase at 6.8% CAGR through 2031.
There are numerous products that are not traded to different regions due to the unavailability of effective packaging types to transport them. Intermediate bulk containers (RIBCs and FIBCs) are cost-effective packaging solution, which ensure the product is shipped in its original form to the importer.
Prospecting untapped regions for exports of products will create abundance of opportunities for the growth of the IBC market. For example, Europe has highest consumption capacity of organic food products, according to Research Institute of Organic Agriculture.
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Shipping of these organic products from various regions will require the use of bulk bags, further strong arming the market in this region. FIBCs are considered most suitable option for the export of food products.
FIBC bags are replacing corrugated boxes, as they have relatively high shelf-life and are light in weight. The use of IBCs for transportation of products and fluids is expected to create impressive opportunities for the bulk container packaging market.
FMI has forecast that the demand and sales of intermediate bulk containers will be definite and in increasing order. Factors such as ever-increasing cross country trade, increased demand for modern containers to carry large liquid quantities and reforming of rigid IBCs for reducing packaging scrap will exponentially increase the sales globally.
Key Takeaways from Intermediate Bulk Containers Market
- By product, flexible IBC segment is ahead and leading the global intermediate bulk containers market. With its biodegradable nature, target segment is anticipated to hold more than 94% market share by the end of forecast period.
- Plastic is the most preferred material among end users due to its longer shelf life and safety properties. The plastic segment is anticipated to increase 1.9 times of current market values in next decade.
- IBCs are primarily used for storage and transportation of solid & semi-solid content. Therefore, this segment is estimated to lead the market with a share of about 92% because the nature of transport material.
- By capacity, flexible and rigid IBCs are diversified on different scales. RIBC with the capacity of 1,001 – 1,5000 Ltr is estimated to expand by 2.5 times of current value in foreseeable future. But, the segment will be dominated by FIBC, which is forecast to hold leading chunk of almost 92% of the market by 2031.
- FMI has forecast the consumption of RIBCs to increase consistently in chemical industries for storage of hazardous solutions. This segment is estimated to create an incremental opportunity of US$ 1 Bn in 2021-2031.
- Europe is forecast to remain at lead and hold more than 1/3rd share in the global market.
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“The demand for flexible and rigid intermediate bulk containers is rising globally, especially of their packaging capabilities in liquid, semi-solid and solid contents. This has opened up the doors of opportunities for key manufacturers for maximizing their sales. Increasing emphasis on protective and durable packaging solutions during transit is anticipated to redefine the intermediate bulk containers market growth” says FMI analyst.
High Demand for Advanced Containers for Large Quantity Liquid Transportation Will Augment Sales
Most European countries have witnessed steady recovery from the recent recession caused by pandemic, and the trade activities are likely to increase over the forecast period. This, coupled with healthy growth in trade volume of IBCs in the East Asia & South Asia, is expected to play a crucial role in stabilizing the global trade.
Since there is a noteworthy existence of link between the supply and demand chains for industrial packaging, enhanced industrial packaging demand is evident, with stabilized manufacturing sector output.
Though the demand for IBCs is likely to be concentrated in Asia, contribution to the global demand is also expected from other regions such as Europe and MEA because of increase in transportation of large volume of goods.
The U.S. market is going to exhibit high demand for IBCs over the forecast period, because of increasing volume of export and import goods such as petroleum, food products, chemicals, paints, and others.
Low cost of manufacturing in China and India has led key players across the globe to move their production facilities to countries in the East Asia & South Asia, which has resulted in significant growth in trade value and volume in the region
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Intermediate Bulk Containers Market Landscape
Greif Inc., SCHUTZ GmbH & Co. KGaA, Mauser Packaging Solutions are the top players operating in the intermediate bulk containers market. Furthermore, Berry Global Inc., International Paper Company, DS Smith Plc and Mondi Group are also the noticeable players in the intermediate bulk containers market. The 3-tier players of the market hold 55-65% in the global intermediate bulk containers market. Summarizing everything key players will contribute almost 35-45% of the global market.
Intermediate Bulk Containers Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global intermediate bulk containers market, analyzing historical demand from 2014-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the intermediate bulk containers market on the basis of product type, material type, content, capacity and end use across seven regions.
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