The market for flexible intermediate bulk containers (IBCs), specifically folding IBCs, is expected to witness significant growth in the coming years. It is projected to achieve a compound annual growth rate (CAGR) of 4.8%, reaching a value of US$418 million by 2022 and further increasing to US$528 million by 2027.
This growth can be attributed to several factors, including the advantages offered by folding IBCs, the increasing demand for eco-friendly packaging solutions, and the growing e-commerce sector.
Folding IBCs are well-suited for the transportation and storage of bulk liquids and granular materials as they are designed to be cost-effective and space-efficient. They can be folded inward when empty, resulting in significant space savings for storage or return transportation. Moreover, their stackability and compatibility with forklifts make them practical for various industrial applications.
Currently, the folding IBC market is dominated by North America and Europe, primarily due to the presence of established manufacturers and a substantial demand for environmentally friendly packaging options in these regions. However, the Asia Pacific region is expected to witness the fastest growth in the folding IBC market. This expansion can be attributed to the increasing demand for folding IBCs in sectors such as chemicals and food & beverages, driven by rapid industrialization and economic development in the region.
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Overall, the market for folding IBCs is set to experience significant growth, fueled by the benefits they offer, the rising demand for eco-friendly packaging, and the expansion of industries such as chemicals and food & beverages in various regions.
Key Takeaways:
- The folding IBC market is projected to reach US$528 million by 2027, with a CAGR of 4.8%.
- Folding IBCs offer benefits such as space efficiency, cost savings, and environmental sustainability.
- North America and Europe are currently the largest markets for folding IBCs, while the Asia Pacific region is expected to experience the highest growth.
- The growth of the folding IBC market is driven by the demand for sustainable packaging solutions and the expanding e-commerce industry.
- Manufacturers in the folding IBC market are focusing on innovation and product development to meet evolving customer needs.
Competitive Landscape
The key manufacturers operating in folding IBCs market are focusing on increasing their production capacity to meet the increasing demand for folding IBCs. Moreover, the key players are increasing their product portfolio to cater for the growing folding IBCs market.
- In 2021, a company known as BP Polymers has introduced Kortrax® Barrier Resin, for Baritainer® drums, jerry cans, intermediate bulk containers (IBC) and HDPE plastic bottles.
- In 2020, Schoeller Allibert’s company has designed a foldable IBCs for international logistics and to meet the latest expectations of the pharmaceutical, cosmetics, and food processing industries.
- In 2020, a company named Mondi plc., is advancing its product portfolio in its plant situated in Styria (Austria) to further boost its ability to offer liners that are environment-friendly for intermediate bulk containers.
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Key Players:
- Schoeller Allibert Group B.V.
- Ac Buckhorn LLC
- Finncont Oy
- Arena Products Inc.
- TranPak Inc.
- TPS Rental Systems Ltd
- RPP Containers
The demand for folding intermediate bulk containers (IBCs) in different countries can be attributed to various factors:
United Kingdom (U.K.): The expansion of the food and beverage industry in the U.K. is fueling the demand for folding IBCs. The food and drink industry is the largest manufacturing sector in the country, contributing significantly to the economy. With the industry’s annual contribution of USD 33 billion and its role in the nation’s ‘farm to fork’ food chain, there is a need for efficient and reliable transportation and storage solutions like folding IBCs. These containers provide a convenient and cost-effective means of transporting food and beverage products, supporting the growth of the industry.
China: The demand for folding IBCs is increasing in China due to several factors. China holds a major share of the Asia Pacific (excluding Japan) folding IBCs market. The country has witnessed significant growth in industrial production, with an 8.8% increase reported during 2020-2021. This growth in industrial activities creates opportunities for the adoption of folding IBCs, as these containers are widely used for storage, handling, and transportation in various industries. The high compound annual growth rate (CAGR) projected for the folding IBCs market in China reflects the growing demand and adoption of these containers in the country.
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Folding IBCs Market by Category
By Material, Folding IBCs Market is Segmented as:
- Metal Folding IBCs
- Carbon Steel Folding IBCs
- Stainless Steel Folding IBCs
- Plastic Folding IBCs
By Capacity, Folding IBCs Market is Segmented as:
- Up to 500 L
- 501 to 1,000 L
- 1,001 to 1,500 L
- Above 1,500 L
By Application, Folding IBCs Market is Segmented as:
- Chemicals
- Hazardous
- Non-Hazardous
- Petrochemical Products
- Paints, Inks, & Dye
- Food & Beverage
- Automotive & Mechanical Parts
- Cosmetic & Toiletries
- Others
By Packaging Content, Folding IBCs Market is Segmented as:
- Liquid
- Solid & Semisolid
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