The packing bins market had a value of more than US$ 1.9 billion in 2021 and is anticipated to reach US$ 3.0 billion by 2032 at a CAGR of 4.4%.
Packing bins are storage and delivery containers composed of plastic, metal, or other materials. They are made to maximise space efficiency while safeguarding the products during storage and transit.
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One of the key drivers of the packaging bins market is the increasing demand for sustainable packaging solutions. As consumers become more environmentally conscious, there is a growing demand for packaging materials that are recyclable, reusable, and biodegradable. Packaging bins offer a sustainable solution for packaging and storing products, as they can be reused multiple times and are made of materials that can be recycled.
Another factor driving the growth of the packaging bins market is the increasing e-commerce activities worldwide. The rise of online shopping has led to an increase in the demand for packaging bins as they are essential for safe and secure transportation of products. Moreover, the growing trend of same-day delivery and fast shipping is expected to boost the demand for packaging bins in the coming years.
In conclusion, the packaging bins market is expected to grow in the coming years due to the increasing demand for sustainable packaging solutions and the rise of e-commerce activities. The market is highly competitive, with major players investing in product innovation and expansion to gain a competitive edge.
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Competitive Landscape
The key players operating in the packaging bins market are focusing on expanding their production capacity. Also, the key players are focusing on adopting the latest technology by investing in the new machines which will help in providing innovative products along with improving the production capabilities.
- In January 2022, Mondi plc helped the industrial customer to switch to heavy-duty corrugated packagings such as corrugated octabins and others by expanding its production capacities.
- In August 2021, S LESTER PACKING MATERIALS LTD. announced its investment of US$ 2.8 Mn in the new technology which will help the company to improve its capabilities for manufacturing packaging solutions such as corrugated boxes, octabins, bespoke packaging, and others.
Key Players:
- DS Smith plc
- International Paper Company
- WestRock Company
- Atlantic Packaging Products Ltd.
- Smurfit Kappa Group plc
- Mondi plc
- REMCON Plastics Inc.
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Packaging Bins Market by Category
By Material Type:
- Plastic Packaging Bins
- Paper Packaging Bins
- Metal Packaging Bins
By Capacity:
- Less than 15 Gallons
- 15 to 40 Gallons
- 41 to 120 Gallons
- More than 120 Gallons
By End Use:
- Food
- Automotive
- Construction
- Electronics & Furniture
- Chemical
- Others (Retail, Waste Management, etc.)
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
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