Plastic Rigid IBC Market is poised to expand at a CAGR of 6.2% during 2017-2022

Plastic rigid IBCs are containers used to store and transport various bulk material from one place to another, typically from the manufacturing plant to warehousing or even departmental stores. They are largely used in various end user industries for storage and transportation applications. The global plastic rigid IBC market is influenced by aspects such as rising demand in the food and beverage industry, chemical industry, pharmaceutical industry, etc., and the growth of this market is pushed by benefits provided by plastic rigid IBCs such as low cost of transportation and storage, reusability and ease in maintenance. They are a much preferred choice among manufacturers and this trend is fuelling the growth of the global plastic rigid IBC market in the years to come.

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.

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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.

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This release was published on openPR.