As per FMI, total sales in the RIBC market are projected to represent 72% of the global intermediate bulk container market worth US$ 23 Bn in 2022.
The adoption of intermediate bulk containers offers improved performance and cost effectiveness as compared to traditional containers, which in turn is driving the expansion of the market.
With a favorable demand outlook, Asia Pacific that are South and East Asia are projected to cumulatively account for above 50% of the total market share in 2022.
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How Will The Introduction Of Smart Ribcs Influence Sales?
Smart RIBC containers comprise of the 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.
Inclusion of RFID in RIBC also helps to prevent 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 traditional one. Against this backdrop, sales are projected to increase year-over-year by 5.3% between 2021 to 2022.
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.
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 Market 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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