The rigid industrial packaging market is estimated at US$ 31.1 Billion in 2022 and is projected to reach US$ 42.5 Billion by 2029, at a CAGR of 4.6% from 2022 to 2029.
Growing industrialization is anticipated to boost the growth of the rigid industrial packaging market. The demand for chemicals and pharmaceuticals is increasing at a good pace and positively influencing the growth of the rigid industrial packaging market. Rigid industrial container manufacturers can capitalize on intercontinental trade for petrochemical, oil, and gas industries.
Rigid industrial packaging sold ~1.85 billion units in 2018, equivalent to a value of $31.1 billion. Rigid industrial packaging is gaining increasing momentum in several commercial sectors due to improved protection against harsh environmental factors. According to FMI’s research, rapid industrialization and growing demand for chemicals and pharmaceuticals continue to influence the growth prospects of the rigid industrial packaging market.
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The Major Key Players Are:
- Greif, Inc.
- Mauser Group B.V.
- Cleveland Steel Container
- Hoover Ferguson Group
- Time Technoplast Ltd.
- Snyder Industries, Inc.
- Schuetz GmbH & Co. KGaA
- Thielmann US LLC
- Custom Metalcraft, Inc.
- Automationstechnik GmbH
- Transtainer
- Others
Manufacturers seize opportunities in the chemical industry.
According to this study, one of the important growth drivers is the increase in intercontinental trade activity, which requires the use of robust industrial packaging formats in new industries such as biochemicals, food grade ingredients and processed foods. Additionally, the market is highly dependent on four major end-use industries including Chemicals and Solvents, Food and Beverage, Oils and Lubricants, and Automotive.
Despite the swirling clouds surrounding plastic’s adverse effects, manufacturers continue to use plastics as a convenient material for rigid industrial packaging because of their technological and operational advantages and lower cost over metal. Sales of rigid containers made of plastics, accounting for ~50% of sales in 2018, will witness significant growth going forward, driven by their lightweight properties and advances in polymer processing technology. However, the low degradability of plastics remains a major concern for manufacturers and end users.
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Rigid Industrial Packaging Market by Category
By Product Type:
- Drums
- Steel Drums
- Plastic Drums
- Composite Drums
- Rigid IBCs
- Pails
- Bulk Boxes
- Others
By Material Type:
- Plastic
- Metal
- Paper & Wood
- Fiber
By End Use:
- Chemicals & Solvent
- Oil & Lubricants
- Agriculture & Horticulture
- Automotive
- Building & Construction
- Food & Beverage
- Pharmaceuticals & Medical Devices
- Others
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Frequently Asked Questions (FAQs)
- What will be the growth of Rigid Industrial Packaging Market in the coming years?
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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