The global 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.
This market facilitates the temporary use of IBCs, offering cost-effective solutions across various industries such as chemicals, food and beverages, pharmaceuticals, and more. Key drivers fueling this growth include increasing demand for flexible logistics solutions, cost efficiency in supply chain management, and environmental sustainability initiatives. Companies are increasingly opting for rental services to avoid high initial investments associated with purchasing IBCs and to adapt quickly to fluctuating market demands.
Request a Sample Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-10339
Additionally, stringent regulatory requirements regarding the safe transportation and storage of liquids and chemicals further propel the adoption of rental services. Geographically, regions with expanding manufacturing activities and stringent environmental regulations, such as North America and Europe, are expected to witness significant growth in the IBC rental market
Another factor driving the growth of the IBC rental business market is the flexibility & cost-effectiveness. Renting IBCs offers businesses flexibility in managing their packaging needs. Companies can rent the required number of containers as per their immediate requirements, instead of investing in purchasing and maintaining a large inventory of IBCs. The flexibility allows businesses to scale their operations without the burden of long-term commitments. Renting IBCs also eliminates the need for storage and maintenance costs, making it a cost-effective solution for businesses, especially for those with fluctuating demand.
Get in Touch with Our Sales Team to Secure Your Copy of the Report Now! https://www.futuremarketinsights.com/checkout/10339
Key Takeaways from the Market Study
- Global IBC rental business market was valued at US$ 1.2 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.2%.
- Germany is expected to hold a dominant CAGR of 5.6% during the forecast period.
- By product, the stainless steel IBC segment is expected to constitute a CAGR of 5.6% in 2033.
- On the basis of end-use, the industrial chemicals segment is expected to dominate the market with a CAGR of 5.5% in 2033.
- From 2023 to 2033, IBC rental business market is expected to flourish at a CAGR of 5.7%.
- By 2033, the market value of IBC rental business is expected to reach US$ 2.2 billion.
Regulatory compliance & safety standards, across the globe is a major factor that is expected to propel the growth of the IBC rental business market in the near future, remarks an FMI analyst.
Competitive Landscape
Prominent players in the IBC rental business market are Brambles Ltd, Hoover Ferguson Group, HOYER GmbH, Envirotainer AB, Goodpack Ltd, TPS Rental Systems Ltd, CMO Enterprises, Inc, Americold Realty Trust, Inc, Hawman Container Services, SCHÄFER Werke GmbH, Metano IBC Services, Inc, Mitchell Container Services Inc., and Precision IBC, Inc., among others.
Recent Developments
- In 2023, Envirotainer AB launched an upgraded version of its temperature-controlled IBCs, featuring advanced insulation materials and enhanced temperature control capabilities. The improvements ensure the integrity and stability of temperature-sensitive products during transport.
- In the same year, AmeriCold Realty Trust, Inc implemented robotic automation in its IBC storage and retrieval operations, increasing efficiency and reducing the time required to locate and prepare IBCs for customers.
- In 2022, Hoover Ferguson Group introduced a new range of lightweight composite IBCs that offer increased durability, chemical resistance, and reduced environmental impact compared to traditional steel IBCs. The lightweight design also allows for easier handling and transportation.
- In the same year, Hawman Container Services invested in automation technologies for IBC cleaning and maintenance processes, enabling faster turnaround times and improved efficiency in servicing customer IBCs.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global IBC rental business market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the IBC rental business market, the market is segmented on the basis of material (carbon steel, stainless steel, and plastic), by product (flexitanks, stainless steel IBC, carbon steel IBC, plastic IBC, and composite IBC), by content (liquids, and solids & semi-solids), by capacity (upto 1000 liters, 1001-1500 liters, 1501-2000 liters, and above 2000 liters), and by end-use (industrial chemicals, petroleum & lubricants, paints, inks & dyes, food & beverages, personal care & cosmetics, synthetic & natural rubber, tires & auto components, pharmaceuticals, and others), across five major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube