According to Future Market Insights, metal IBCs market participants are continuously looking for the storage and shipping packaging options that are easily traceable. Metal IBC are available with the RFID or barcode data retrieving technology that helps the end users to track the shipment. These options work with smartphones, tablets and handheld scanners to collect and tracking information through RFID and barcodes.
The inclusion of data retrieving system in the IBCs, making it ideal for shipping and transportation of bulk volumes. Therefore, the consumption of such metal IBC is expected to increase in near future. Backed by this, the demand in the market is projected to increase at 5.1% CAGR, surpassing US$ 18.4 Bn by 2032
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Key Takeaways from Global Metal IBC Market
· Stainless steel is the most used material segment for manufacturing metal IBC and is estimated to create an incremental opportunity of US$ 7.8 Bn, during the forecast period.
· Industrial chemical IBCs are the most desired end use segment, predicted to grow at a CAGR of 5.2% in the worldwide market.
· China’s metal IBC market projected to register a CAGR of 7.5% during the forecast period.
· The U.S. is expected to be the fastest growing metal IBC market due to expansion of industrial chemical sector and use case of metal IBC in waste disposal sector.
“Product innovation and inclusion of tracking system has significantly raised the sales of global metal IBC market. Key players are expected to witness lucrative opportunities on the back of investing more in developing lightweight and anti-wear metal IBC production and penetrating their products in the Asian market” – says FMI analyst.
How Is Global Metal IBC Market Going to Thrive Further?
For transportation of their goods, including liquids, a number of large-scale corporations have partnered with transportation and agencies. Major manufacturers are forming strategic collaborations to strengthen their position in the global IBC metal market.
Vendors in the worldwide metal IBC market are employing a variety of creative strategies, including collaboration with transportation networks. Such actions are performed to acquire an advantage over industry competitors. Due to the high level of competition in the industry, the global metal IBC market is expected to increase in the near future.
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Global Metal IBC Market Landscape
Some of the leading players included in the global metal IBC market are players like
- Thielmann US LLC,
- Precision IBC, Inc.,
- Automationstechnik GmbH,
- Sharpsville Container Corporation,
- Hoover Ferguson Group,
- Snyder Industries Inc.,
- Yenchen Machinery Co., Ltd.,
- Custom Metalcraft Inc.,
- Metano IBC Services Inc.,
- Pensteel Ltd.
Global Metal IBC Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global market for metal IBC market by material type (carbon, stainless), by capacity (Up to 1,000 litres, 1,001-1500 litres, 1,501-2,000 litres, above 2,000 litres), by end use (industrial chemicals, petroleum and lubricants, food and beverage, building and construction, pharmaceutical, others (waste disposal/recycling and silage etc.)) and region – forecast to 2022–2032
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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