The global rigid intermediate bulk container (IBC) market is forecast to experience robust growth over the next decade. According to recent market analysis, the global rigid IBC market is expected to exhibit a year-on-year (y-o-y) growth rate of 5.0% in 2024, reaching a valuation of USD 19,531 million. The market is projected to grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2034, culminating in a market value of USD 33,974 million by 2034.
Core Concepts in the Rigid IBC Industry
- Market Size in 2024: US$ 19,531 million
- Projected Market Size by 2034: US$ 33,974 million
- Demand Outlook: Expected to expand at a 5.7% CAGR through 2034
- Key Market Drivers: Rising need for effective and safe packaging solutions globally
- Leading Manufacturers: Greif Inc., Mauser Packaging Solutions, Brambles Group, Time Technoplast, Schutz GmbH
Market Overview:
- Rigid intermediate bulk containers are designed to store and transport large quantities of liquids, solids, and semi-solids. Due to their durability, tamper resistance, and stackability, rigid IBCs are becoming the preferred choice across various industries. They offer significant advantages over traditional IBCs, making them suitable for transporting sensitive and hazardous materials.
- As global trade continues to grow, the import and export of essential commodities, including chemicals, pharmaceuticals, and food & beverages, are expected to fuel the demand for rigid IBCs. Moreover, the containers’ reusability and environmental benefits position them as a sustainable packaging solution.
How Will The Introduction Of Smart Ribcs Influence Sales?
Smart RIBC containers comprise of radio frequency identification (RFID) microchips placed inside the central plank to collect information in real-time. It offers a solution for product tracking, asset tracking, and inventory management. In the coming years, the need for smart RIBCs is anticipated to increase as the supply chain becomes more automated.
The inclusion of RFID in RIBC also helps to prevent the use of damaged containers and identify the operational life of containers. Owing to these benefits most of the end users are gradually adopting smart RIBCs over the traditional one. Against this backdrop, sales are projected to increase year-over-year by 5.3% between 2021 to 2022.
How Is The Agrochemicals Industry Boosting Sales Of RIBC?
The chemical sector’s favorable outlook is projected to boost the global RIBC market. Rapid expansion of the food & beverage sector in North America is resulting in growing usage of safe agrochemicals for crop development and growth. These industries are using RIBCs for effective packaging and transportation, which in turn is providing impetus to sales.
Rigid IBCs are increasingly being used to transport hazardous and valuable chemicals without leakage. They can also be easily reinforced, preventing the escape of gases. When transporting hazardous substances, the United Nations (UN) has established severe standards that are in place worldwide. It is critical to use safe and long-lasting packaging. As a result, demand for single-use IBCs is expected to rise.
Category-Wise Insights
Which Capacity Segment Is Expected to Dominate the RIBC Industry?
“Increasing Demand for RBIC Containers from the Chemicals and Food & Beverage Sectors Will Fuel Growth”
Based on the capacity, the standard capacity segment is forecast to create an incremental opportunity of US$ 11 Bn over the forecast period. These containers are used for packaging and shipping liquid and semi-liquid goods.
Which End Use Segment is Expected to Lead the RIBC Industry?
“Growing Adoption of RBIC Containers in the Chemical Sector Will Bode Well for the Market”
In terms of end-use, demand in the chemical segment is projected to increase at a 6.3% CAGR over the forecast period. In the chemical industry, sales of petrochemicals are expected to cross US$ 1 Trillion over the forecast period. RBIC containers are used to ship these products to various countries across the globe, which is expected to augment sales in this segment over the assessment period.
Competitive Landscape
The market for rigid intermediate bulk containers is competitive and fragmented, with China accounting for a significant portion of global demand. Leading players operating in the market are investing in research and development to improve their product portfolios. They are also entering into mergers, acquisitions, and collaborations to expand their global footprints. For instance:
- In April 2021, Mauser Packaging Solutions acquired Global Tank Srl and expanded its presence in Italy. This will allow MPS to grow its industrial packaging product and service offerings.
Purchase Now to Access Segment-specific Information and uncover Key Trends, Drivers, and Challenges: https://www.futuremarketinsights.com/checkout/14316 Key Companies Profiled
- Berry Global Inc.
- Time Technoplast Ltd.
- DS Smith Plc.
- Mondi Group
- Snyder Industries, Inc.
- SCHÜTZ GmbH & Co. KGaA
- Mauser Group B.V.
- Hoover Ferguson Group
- Nittel Halle GmbH
RIBC Industry By Category
By Material:
- Metal IBC
- Carbon
- Stainless
- Composite IBC
By Capacity:
- Standard
- 1040 litres (275 US gal)
- 1250 litres (330 US gal)
- Customized Capacities
By End Use:
- Industrial Chemicals
- Hazardous Chemical
- Non-Hazardous Chemical
- Petroleum & lubricants
- Paints, inks & dyes
- Food & beverages
- Construction
- Pharmaceuticals
- Others (Waste disposal/Recycling & silage, etc.)
By Region:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
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