Global Plastic Rigid IBC Market: An Overview
Plastic rigid IBC market’s main product is a self-standing container. It is manufactured using polymeric material and used for storage and transport of liquids in large quantities. These liquids usually include granulated substances, solvents, chemicals, and food ingredients.
The plastic rigid IBC market is expected to register a healthy growth during 2018-2026. The rigid IBC market is driven by the reusable and cost-effective nature of these containers.
Plastic rigid IBC market report aims to provide an insight into the current and future trends. The market consists of various product types including low-density polyethylene, polyvinyl chloride, and high-density polyethylene. Additionally, the report will also cover capacity analysis in the market including less than 500 liters and more than 2000 liters and everything in between. Moreover, the report also showcases a segment studying the different end-industries including industrial chemicals, petroleum and lubricants, paints, food and beverage among others.
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Plastic Rigid IBC Market: Notable Developments
EU parliament has banned the use of single-use plastics. These include items such as cotton buds, straws, and cutlery. According to EU lawmakers, in total 10 single-use items were banned to curb the growing pollution threat to oceans. The parliament has also agreed to a goal of collecting and recycling 90% of beverage bottles by 2029.
Plastic Rigid IBC Market: Key Trends
Growing Demand in Retail to Drive Growth for the Plastic Rigid IBC Market
Rising demand in the retail industry and important application of rigid plastic containers in the industry are expected to drive growth for the plastic rigid IBC market in the near future. The growing demand for food, especially ready-to-eat products are expected to drive growth for the plastic IBC market. Plastic rigid containers are vital for transporting and storing various goods in safe conditions. Additionally, new advances in plastic rigid containers also allow for safe storage of food items with anti-microbial environment. These containers can also come equip with atmospheric packaging, which improves the shelf-life of food items. Hence, growing demand for retail products and especially in e-commerce are expected to open several opportunities for players in the plastic rigid IBC market.
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Cost-Cutting Presents a Major Opportunity for End-User Industry
Transportation has become increasingly sophisticated with several monitoring and automated advances in the industry. These advances have made way for more efficiency and more security for transport solutions, but they have also increased the cost of transportation considerably, thanks to advanced equipment such as sensors. Bulk packaging and robust mechanisms provided by products in the plastic rigid IBC market are expected to provide opportunity for market players to maximize cost-efficiency. New products in the plastic rigid IBC market are equipped with lock mechanisms, provide bulk transportation of materials, provide flexibility with foldable or recycle containers. Hence, the plastic rigid IBC market are expected to provide many solutions to the woes in the transport industry and can create robust opportunities in the near future.
On the other hand, products in the plastic rigid IBC market were recently involved in fire hazards. The lack of sufficient mechanisms to protect transportation of chemicals can restrain growth of the plastic rigid IBC market.
Plastic Rigid IBC Market: Regional Outlook
The plastic rigid IBC market report is divided into main regions including North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The Asia Pacific region is expected to dominate growth, thanks to growing manufacturing and transportation in the region. Rising infrastructure developments, growing manufacturing activity, and robust products in the region are expected to drive significant growth for the plastic rigid IBC market.
Plastic Rigid IBC Market: Competitive Dynamics
The global plastic rigid IBC market is a competitive and fragmented landscape. Large number of small players are expected to increase fragmentation in the near future. Some key players in the global plastic rigid IBC market are Schutz Container Systems, Bulk Handling Australia, Jielin, Maschiopack GmbH, Greif, Inc., Snyder Industries, and WERIT.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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