Demand for global composite IBCs System is expected to be valued at US$ 7,632 Million in 2022, rising at a CAGR of 4.7% to US$ 12,082.2 Million from 2022 to 2032. The tremendous technological improvement in the IBC domain is linked to growth.
The increasing demand for a dependable form of cross-border transportation has fueled the composite IBCs System sector. Additionally, containerization has resulted in significantly decreased shipping costs. Composite IBCs are lightweight and space-saving containers, hence they are popular among end customers.
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Global Start-ups of Composite IBCs System Market
- Time Technoplast
- Pyramid Technoplast
- TPL Plastech
- Matcon
- GEA
- Plastic Pallet India
- Plastirey Containers
- Bulk Systems
- Nanolike
- Metanousa
Market Competition
Greif Inc., Snyder Industries, Inc., Hoover Ferguson Group, Inc., Mauser Group B.V., Composite Containers, LLC, and Pacific Container Systems are some of the main players in the worldwide Composite IBCs System market.
Because of the large number of competitors, the market is extremely competitive. While worldwide manufacturers such as Greif Inc., Snyder Industries, Inc., Hoover Ferguson Group, Inc., and Mauser Group B.V. have a sizable market share, numerous regional level firms are also active in important growing regions, notably North America.
Recent Developments in the Composite IBCs System Market
- In November 2020, Schoeller Allibert, a European manufacturer of recyclable, reusable, and returnable plastic packaging solutions, will unveil ChemiFlow, an UN-approved Intermediate Bulk Container (IBC) intended to carry hazardous and highly corrosive chemicals. This demonstrates the company’s dedication to the chemical production and distribution business.
- In December 2020, Time Technoplast will debut a new generation of multilayer pipes for power/communication cable ducts with silicone in-lining. The business also created complementary components to offer as a whole bundle. These technologically advanced, innovative items meet international requirements and are employed in high-performance applications. These pipes/ducts are being introduced for the first time in the country and have significant commercial potential.
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Global Composite IBCs Market: Dynamics
Large petroleum oil production and exports propels the need for bulk container packaging. Shipping costs have significantly reduced for the end users, as the number of labour personnel required for the loading and unloading process has also significantly reduced due to composite IBCs.
Composite IBCs are non-corrosive in nature which makes them ideal for the transportation of almost all types of products, thus catering to a large base of end users which further spurs the demand of the global composite IBC market. Growing preference for the flexible intermediate bulk container is a major factor restraining the growth of the global composite IBC market.
Moreover, escalation in the raw material prices has led to significantly high cost of composite IBCs, thus hampering the market growth. Use of composite IBCs for dry bulk shipping is likely to create new opportunities of growth for the global composite IBC market. Use of bio based raw materials for the production of composite IBC is a key trend prevailing in the global composite IBC market.
Composite IBCs System Demand Analysis (2016 to 2021) Vs Market Outlook (2022 to 2032)
The global demand for composite IBCs system is projected to increase at a CAGR of 4.7% during the forecast period between 2022 and 2032, reaching a total of US$ 12,082.2 Million in 2032, according to a report from Future Market Insights (FMI). From 2016 to 2021, sales witnessed significant growth, registering a CAGR of 3.9%. Industries are eager to implement temperature-controlled bulk storage systems in order to retain the required qualities of the stored content.
To meet the specialised needs of industries, IBC manufacturers are working on the development of temperature-controlled and heater jacket-compatible IBCs. Shipping of hazardous chemicals must be carefully handled to avoid asset loss and to ensure that all legal container compliance requirements are met.
Electronic tagging of IBCs is expected to help producers decrease the expense of lost or damaged IBCs by facilitating traceability of industrial chemicals. In compared to drums, Composite IBCs System are utilised for low-cost bulk fluid storage and transportation.
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Key Segments Profiled In The Composite Ibcs System Industry Survey
Composite IBCs System Market by Material Type:
- Plastics
- Aluminium
- Carbon Steel
- Galvanized Iron
Composite IBCs System Market by End Use:
- Industrial Chemicals
- Paints
- Inks & Dyes
- Food & Beverage
- Building & Construction
- Pharmaceuticals
Composite IBCs System Market by Technology:
- Aseptic Technology
- Non-Aseptic Technology
Composite IBCs System Market by Capacity:
- 180-250 gallons
- 250-300 gallons
- 300-350 gallons
- Above 350 gallons
Composite IBCs System Market by Region:
- North America Composite IBCs System Market
- Latin America Composite IBCs System Market
- Western Europe Composite IBCs System Market
- Eastern Europe Composite IBCs System Market
- APEJ Composite IBCs System Market
- Japan Composite IBCs System Market
- Middle East & Africa Composite IBCs System Market
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