The global foldable steel containers market is projected to amass a revenue of US$ 130 billion by 2032, with sales growing at a slow CAGR of 3.75% from 2022 to 2032. The target market was valued at US$ 90 billion in 2022. For the historical period of 2017 to 2021, the market was valued at US$ 85 billion. Factors such as greater maritime shipping due to rising trade agreements among nations, and surging demand from sectors like logistics, infrastructure, and packaging abet the growth of the foldable steel containers market during the projection period.
Reusable industrial containers used for the storage and transportation of bulk liquid products are referred to as foldable steel containers. When the sides of these containers are empty, they can be folded inward permitting the container to collapse into a much smaller package for storage or return shipment. Most of these rigid foldable steel containers can be stacked on top of the others with the help of a forklift. These are made from FDA-approved materials with ISO specifications to enable the convenient and smooth loading and unloading of goods. Foldable steel containers are able to maintain structural integrity and withstand impact during transportation. These are ideal for use in environments with stringent hygiene norms.
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Foldable steel containers enhance the productivity and profitability of the shipping industry. These are stackable containers that ensure smooth warehouse management and improve shipping space efficiency which results in greater market demand. With high packaging capacity and low-cost shipping, these containers offer warehouse owners the chance to enhance their overall business efficiency. In addition to this, growing trade activities among nations, logistics, improvements in the global supply chain, and good infrastructure are some of the factors that drive the growth of the foldable steel containers market during the forecast period.
Key Takeaways:
- The advancement of intermodal transportation will strengthen prospects for the foldable steel container market.
- The emergence of biodegradable polymer materials as a substitute for rigid bulk packaging solutions may stymie the market growth.
- North America will account for a sizeable portion of the foldable steel containers market share due to the extensive import and export of medical products carried out by the US.
- Asia Pacific will emerge as an attractive pocket for the market due to strong maritime trade by countries like China, Japan, India, and South Korea.
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Competitive Landscape
Qingdao Guanyu Plastics Co. Ltd., S.Smith, Bekuplast GmbH, Loadhog Ltd., RPP Containers Ltd., KTP Kunststoff Paletten Technik, and Schoeller Allibert Holdings B.V., among others, are some of the prominent players in the foldable steel containers market profiled in the full version of the report.
Key market players are focusing on product development and offering innovative sustainable solutions for bulk small parts dispensing. These businesses also employ various organic and inorganic growth strategies to gain a competitive edge.
Key Segments Profiled in the Foldable Steel Containers Industry Survey
Foldable Steel Containers Market by Material:
- Stainless Steel Foldable Containers
- Carbon Steel Foldable Containers
Foldable Steel Containers Market by End Use Industry:
- Foldable Steel Containers for Transport & Logistics
- Foldable Steel Containers for Food and Beverage
- Foldable Steel Containers for Agriculture
- Foldable Steel Containers for Pharmaceuticals & Cosmetics
- Foldable Steel Containers for Other End Use Industries (Automobile, etc.)
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More Insights into Foldable Steel Containers Market
FMI offers the latest, unbiased, and detailed analysis of the global foldable steel containers market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of material type, end-use industry, and region.
According to the reports, based on region, the foldable steel containers market in North America will demonstrate substantial growth during this period of observation. The target market in this region will account for a significant portion of the market share. This market is primarily driven by the import and export of medical products carried out by the US. High investment in drug development, manufacturing of different medical products, and their export open avenues of growth for the foldable steel containers market in the US which ultimately drives the growth of the overall market in North America.
Also, the foldable steel containers market in Asia Pacific will also display notable growth. Rising cross-border and maritime trade along with increasing environmental concerns arising in various countries across the region will aid the growth of the foldable steel containers market in the Asia Pacific. Thus, North America and Asia Pacific are the two important regions contributing to the global growth of the foldable steel containers market.
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