According to research from Future Market Insights, the worldwide carbon steel IBC market is expected to reach a value of US$ 2.6 billion in 2022 and increase at a CAGR of 5.4% to reach US$ 4.4 billion by the year 2032. Sales of the boxes by Capacity are likely to rise as the top 3 countries are predicted to hold between 30 and 35 percent of the market by the end of 2022.
Industrial chemicals are best stored in IBCs with capacity of 160 to 350 gallons. The factors behind this are convenience, improved product protection, and the capacity of heavy-duty transportation. The market for IBCs with a capacity of 160 to 350 gallons is expected to reach US$1.2 billion by that time.
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Global Carbon Steel IBC Market: Overview
An industrial-grade, reusable container for bulk storage, the carbon steel IBC is painted on the outside. Bulk liquids are transported and stored in IBCs made of carbon steel. A tote made of carbon steel that can stack and be moved by a forklift or pallet jack is known as an IBC. IBCs made of carbon steel are the best option for storing oils and lubricants. IBC made of carbon steel are incredibly durable, impact-resistant, and effective in non-corrosive chemical environments. IBCs made of carbon steel cost less than those made of stainless steel. In IBCs, carbon steel is more affordable and lighter than stainless steel.
Iron and carbon are two elements that are combined to form the metal alloy known as carbon steel. The primary strengthening and hardening component of steel is carbon. Carbon steel IBC is strong due to its hardness. IBCs made of stainless steel are less likely to rust than those made of carbon steel. IBCs made of carbon steel are reusable, simple to fill and dispense, and environmentally favourable because they pose less cleanup and disposal issues. IBCs made of carbon steel are more affordable and lighter than those made of stainless steel. The market for IBCs made of carbon steel is driven by its toughness, low weight, high fatigue strength, and strength. The capacity of carbon steel IBCs range from 110 gallons to 550 gallons. There are also double-walled carbon steel IBCs with integrated secondary containment available. Carbon steel IBC has a sloped bottom for uniform and complete drainage.
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Competitive Landscape
The key players which are operating in the market are focusing on expansion and innovation. All of them are trying to capture a large market share. Big companies are focusing on USPs to increase sales. Companies are trying to provide good logistics facilities also to attract a mass customer base. Some of the innovations and expansions are as under-
- In September 2022, Thielmann US LLC announced the opening of a new subsidiary in France. The expansion will help the company to capture the French rigid packaging market, also it will help the company to expand its capabilities of manufacturing IBCs.
- In November 2021, Metano IBC Services Inc. was acquired by Precision IBC, Inc. the company is the leading manufacturer of stainless steel IBCs. The acquisitions have made the rental footprint business of the acquirer more powerful. Expansion in the rental business helped the company to meet-up the demand.
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Key Players:
- Thielmann US LLC
- Precision IBC, Inc.
- Automationstechnik GmbH
- Sharpsville Container Corporation
- Hoover Ferguson Group
- Snyder Industries Inc.
- Custom Metalcraft Inc.
Carbon Steel IBC Market by Category
By Discharge Type, Carbon Steel IBC Market is Segmented as:
- Side Discharge
- Center Discharge
By Capacity, Carbon Steel IBC Market is Segmented as:
- Up to 150 gallons
- 150 – 350 gallons
- 350 – 500 gallons
- Above 500 gallons
By End Use, Carbon Steel IBC Market is Segmented as:
- Industrial Chemicals
- Petroleum & Lubricants
- Paints, Inks & Dyes
- Food & Beverages
- Waste Disposal/Recycling & Silage
- Others (Construction, Pharmaceuticals, etc.)
By Region, Carbon Steel IBC Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
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