The size of the worldwide plastic rigid IBC market is anticipated to grow at a CAGR of 4.8% from 2022 to 2032, reaching a valuation of US$ 5.6 Bn in 2022. By the end of 2032, the market is projected to reach US$ 9.1 billion. The top 3 nations are predicted to control between 30 and 35 percent of the global plastic rigid IBC market by the end of 2022, which would increase revenues in the sector.
During the anticipated period, the market for plastic rigid IBC is anticipated to expand at a profitable rate. Sales are forecast to increase significantly between 2022 and 2032, creating a US$ 3.1 billion opportunity for additional growth.
Additionally, it is anticipated that rising demand for bulk containers for the storage and delivery of liquid content will drive up plastic rigid IBC sales. In the years 2022-2032, it is predicted that the worldwide plastic rigid IBC market would expand by 1.7 times its present rate. Due to the presence of numerous well-established end-use industries and rising trade activities, North America and Europe are predicted to increase demand for plastic rigid IBC.
Due to the growing use of HDPE IBC for bulk packaging, the HDPE rigid IBC segment by material is projected to account for the majority of the worldwide plastic rigid IBC market. By the end of 2032, the target sector is anticipated to control around 70% of the market.
According to FMI, the plastic rigid IBC market was valued at US$ 5.4 Bn in 2021. With the top 5 players predicted to control roughly 20–25% of the worldwide plastic rigid IBC market by the end of 2022, there is expected to be an increase in demand for plastic rigid IBCs with a capacity of 100–2000 litres.
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The extensive research report on “Plastic Rigid IBC Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2022)”, skilfully presented by Future Market Insights covers various market statistics and includes an in-depth analysis on various trends, developments, opportunities, threats and growth drivers impacting the expansion of the global market for plastic rigid IBCs in the years to come, across key regions in the globe. As per this research study, the global plastic rigid IBC market is poised to expand at a healthy CAGR of 6.2% throughout the period of assessment, 2017-2022.
4 Key Highlights on Global Plastic Rigid IBC Market
- Asia-Pacific excluding Japan region (APEJ) is highly lucrative region for the growth of the global plastic rigid IBCs. Owing to increasing technological developments supported by growing industrialization in this region, the need for storage and transportation of numerous bulky goods is rising. Moreover, due to low cost of land and labour, the APEJ region is marked by growing manufacturing plants in various fields such as chemicals, food and beverages, pharmaceuticals etc. This has triggered the demand for plastic rigid IBCs in this region
- By material type, the HDEP segment is the largest segment reflecting a high market share as of 2017. This segment is likely to expand in the years to come and to lead the global market by material type category. In 2017, this segment reflected a market share of 63.2%, making it the largest segment. The LLDPE segment also shows positive growth and is poised to register the highest CAGR during the assessment period followed by the LDPE segment
- By capacity type segment, the 1000-1500 litres segment is poised to grow at a higher CAGR of 6.5% owing to increasing demand for high capacity containers. Moreover, the 500-1000 litres segment is by far the largest segment showing good hold in the market. However, the above 200 litres capacity segment is expected to show slow growth owing to high costs of transportation compared to the material being transported and hence this capacity is used on a small scale and only in critical circumstances
- Industrial chemicals end use segment is anticipated to be a highly potential segment in the years to come. This segment has shown a very high intake of plastic rigid IBCs since couple of years. Tis segment is highly favourable for the growth of the plastic rigid IBC market during the assessment period. Moreover, the food and beverage industry also demands for more plastic rigid intermediate bulk containers and this end user segment represents a high CAGR of 6.5% throughout the 2017-2022 assessment period
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Key Player Analysis – Plastic Rigid IBC Competitive Scenario Included
The research study on global plastic rigid IBC market has included profiles of key players. This competitive analysis section includes key facts such as SWOT analysis, developments and innovations, product portfolio as well as key financials of various companies. In this report companies like Maschiopack GmbH, Bulk Handling Australia Pty Ltd, Snyder Industries, Inc., Hoover Ferguson Group, Inc., Time Technoplast Limited, Mauser Group B.V, Schutz Container Systems Inc., and Greif, Inc., are profiled.
Plastic Rigid IBC Market Outlook by Category
By Material:
- HDPE
- LDPE
- LLDPE
- PP
By Capacity:
- Up to 500 Liters
- 501-1000 Liters
- 1001-2000 Liters
- Above 2000 Liters
By End Use:
- Industrial Chemicals
- Petroleum & Lubricants
- Paints, Inks & Dyes
- Food & beverages
- Building & Construction
- Pharmaceuticals
- Others (Waste Disposal/Recycling & Silage, etc.)
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