The folding IBC market is forecast to reach US$ 793.6 billion in 2023 and US$ 1,471.2 billion in 2033. A 6.3% growth rate is expected between 2023 and 2033. Industry sectors such as chemical, pharmaceutical, and food and beverage can all be attributed to this growth.
The flexibility and space-saving attributes of folding IBCs make them highly sought after in sectors such as food and beverage, pharmaceuticals, chemicals, and agriculture. Driven by the increased emphasis on sustainable and reusable packaging options. Additionally, the growing trend towards globalization and international trade necessitates reliable and secure packaging solutions, further propelling market expansion. Technological advancements in material sciences and design innovations have enhanced the durability and usability of folding IBCs, making them a preferred choice for businesses looking to optimize their logistics and reduce transportation costs.
With stringent regulations on packaging waste and a heightened focus on environmental sustainability, the adoption of folding IBCs is poised to rise significantly. Moreover, the integration of smart features like tracking and monitoring systems into these containers is expected to open new avenues for market growth, ensuring better inventory management and supply chain efficiency.
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Technology such as virtual reality and augmented reality can assist with training and maintenance. The use of these technologies can streamline maintenance processes, as well as train workers to handle IBCs more efficiently. Tracking, scheduling, and inventory management can be simplified through integration with supply chain management systems. Supply chains can be improved by this process in terms of efficiency and responsiveness.
Folding IBCs can be handled easier, reduced shipping cost, and can last longer if they are made of lightweight, durable materials. Injection molding and rotational molding are examples of advanced manufacturing processes that can reduce production costs so folding IBCs are more accessible to a broader range of industries. Innovative technologies make folding IBCs easier to assemble and disassemble, reducing labor costs and improving usability. With innovative folding mechanisms, such as hinged or collapsible sidewalls, IBCs will be more attractive to businesses with limited storage space.
Key Takeaways
- India is expected to expand at a CAGR of 6.2% from 2023 to 2033.
- Packaging content for liquids is expected to dominate the market with a share of 89.8% during the forecast period.
- Germany is predicted to increase at a CAGR of 2.1% during the forecast period.
- A market share of 45.4% is expected to be attained by chemical applications by the end of the forecast period.
- In 2033, the United Kingdom is anticipated to increase at a compound annual growth rate of 4.1%.
“Integration of the supply chain and regulatory compliance will drive demand for folding IBC. Technological advancements and safety and security features will drive market growth in coming years.,” says an FMI analyst.
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Competitive Landscape
Due to the growing demand for folding IBCs, key manufacturers are focusing on expanding their production capabilities. In addition, key players are expanding their product portfolios in order to keep up with the rapidly growing folding IBC market.
Market Developments Include
- In May 2023, Tosca released a new LCA tool to encourage bulk liquid transportation in foldable containers. The company proposes the use of foldable Intermediate Bulk Containers (IBCs) to reduce greenhouse gas emissions, fossil fuel consumption, and water usage in bulk liquid transportation.
- In August 2023, RPP Containers, an industry leader in manufacturing and stocking bulk containers, partnered with ALPAL as the exclusive distributor of the Stackable Foldable IBC 40 x 48 x 43. Providing innovative storage and transportation solutions to customers is the goal of this strategic partnership between two industry leaders.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the folding IBC market, the market is segmented on the basis of Material (Metal Folding IBCs, (Carbon Steel Floding IBCs, Stainless Stell Folding IBCs) Plastic Folding IBCs), Capacity ( Up to 500 L, 501 to 1000 L, 1001 to 1500 L, Above 1500 L) Application (Chemicals,(Hazardous, Non-Hazardous), Petrochemical Products, Paints, Inks, & Dye, Food & Beverage, Automotive & Mechanical Parts, Cosmetic & Toiletries, Others) Packaging Content (Liquid, Solid & Semisolid) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa).
About the Packaging Division at Future Market Insights
The packaging team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective of providing authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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