According to Future Market Insights (FMI), the IBC rental business market is anticipated to be valued at US$ 1,359.7 million in 2024. The market value is projected to reach US$ 2,545.3 million by 2034, expanding at a 6.5% CAGR from 2024 to 2034.
The IBC rental business market is rising due to global trade’s focus on sustainability and environmental responsibility. The reusable nature of IBCs appeals to businesses seeking to minimize their carbon footprint and reduce waste. IBCs can be reused multiple times, eliminating the need for single-use packaging and aligning with the growing demand for eco-friendly solutions.
IBCs, known for their versatility and secure transportation capabilities, are preferred in optimizing logistics operations within the global trade landscape. IBC rentals offer a cost-effective solution for companies to adapt to fluctuating demand without significant capital investments, optimizing overall costs.
The IBC rental business market is experiencing growth due to increased international trade and globalization. As economies become interconnected and trade barriers are reduced, demand for efficient packaging and storage solutions grows, making IBCs a preferred choice for containerized transportation and storage.
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Key Takeaways from the Global IBC Rental Business Market:
- Based on end-use, the personal care & cosmetics segment is expected to rise at 8.5% CAGR by 2034.
- China’s IBC rental business industry is expected to surge at a CAGR of 8.5% from 2024 to 2034.
- India’s IBC rental business market is predicted to grow at a CAGR of 9.7% from 2024 to 2034.
- Based on material, the plastic IBC segment is projected to grow at 8.1% CAGR by 2034.
- The IBC rental business market is anticipated to be valued at US$ 1,359.7 million in 2024.
“Intermediate bulk containers (IBCs) provide flexibility in transportation modes, allowing companies to choose the most suitable mode based on cost, speed, and accessibility. They enhance international trade by optimizing space utilization, maximizing cargo capacity, and reducing shipping costs in shipping containers and warehouses.”- Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Competitive Landscape
Good Pack Ltd, Hoover Ferguson Group, Inc., Precision IBC Inc., Hoyer Group, TPS Rental Systems, Brambles Ltd (Chep Ltd), Schoeller Allibert B.V., Arlington Packaging Ltd, and Arena Products Inc. are the leading players in the market. Tier 1 players in the market hold 35 to 45% of the overall IBC rental business market.
Key players are also incorporating IoT technology for real-time monitoring, offering specialized services, and renting IBCs. Recent activities and developments implemented by leading players in the market are:
- In May 2023, Hoyers GMBH expanded its semi-automatic cleaning facilities for intermediate bulk containers at its Mannheim site to enhance efficiency and reduce throughput times.
- In 2023, AmeriCold Realty Trust, Inc. expanded its IBC rental capabilities through strategic partnerships, providing comprehensive logistics solutions to the food and beverage industry.
Key Players in the Rental IBC Market:
- Good Pack Ltd.
- Hoover Ferguson Group, Inc.
- Precision IBC Inc.
- Hoyer Group
- TPS Rental Systems
- Brambles Ltd (Chep Ltd.)
- Schoeller Allibert B.V.
- Arlington Packaging Ltd.
- Arena Products Inc.
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Global IBC Rental Business Market Report:
Future Market Insights (FMI), in its new report, offers an unbiased analysis of the global IBC rental business market, analyzing historical demand from 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals market growth projections on material (plastic IBC, composite IBC, and metal IBC), capacity (standard 1,040 liters, standard 1,250 liters, and other customized capacities), end-use (oil & lubricants, chemicals, food, beverages, pharmaceuticals, personal care & cosmetics, and other industrial), and region.
Global IBC Rental Business Market Segmentation by Category
By Material:
- Plastic IBC
- Composite IBC
- Metal IBC
- Stainless Steel IBC
- Carbon Steel IBC
By Capacity:
- Standard 1,040 Liters (275 US Gal)
- Standard 1,250 Liters (330 US Gal)
- Other Customized Capacities
By End-use:
- Oil & Lubricants
- Chemicals
- Food
- Beverages
- Pharmaceuticals
- Personal Care & Cosmetics
- Other Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- Middle East and Africa
About Future Market Insights Inc. (FMI)
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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