Bizizz Market Research has recently published a research report, “Ibc Market By Product Type (RIBC and FIBC), Material (Plastic and Metal), Application (Food & Beverage, Agrochemicals, Chemicals, Oil and Gas, Paints, Inks & Dyes, Pharmaceuticals, Building & Construction and Others), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Ibc Market was valued at US$ XX Bn in 2018 and it is anticipated to reach a market value of US$ 35.8 Bn by 2027, witnessing a CAGR of 7.3 % during the forecast period. Key drivers of the market are its high suitability in tolerating extreme environmental conditions along with higher industrial demand for IBC is propelling its growth.
Globally since long time the market of, intermediate bulk containers (IBCs) have been utilized across various industrial domains by a range of array and applications. Organizations are operating in the packaging industry contributing through the offerings of developing sustainable and cost-effective packaging products that could substantiate for shipping of goods. Moreover, IBCs have attained attention as the most efficient choices for safe packaging and transportation of different goods among different industries including chemicals, cosmetics, and others.
The Ibc market is anticipated to register a CAGR of over 7.3% during the forecast period.
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By Application, chemical segment held a key share in Global Ibc Market in 2018.
In the global market, the companies operating in the chemical industry, storage and transportation of harmful chemical compounds are complex task where the adoption of IBC solutions offers various advantages. Therefore, to solve such problems, intermediate bulk containers are being highly utilized in this industry. Moreover, with technological advancements, innovative IBCs are being utilized in safe transportation in chemical industry. Moreover, plunge in transportation activities of hazardous materials, chemicals, fuels, and a liquid among others has fostered its market demand of IBCs in recent years.
Asia Pacific is anticipated to dominate the Global Ibc Market during the Forecast Period.
The market for IBC products is higher in Asia Pacific region, China are remaining key players and is anticipated to hold 3/4th of the market share during the forecast period. The China government is a home for different small to medium scale end-user industries, growing industrial output with a strong focus on exports are among the factors are likely to generate a considerable growth opportunity for the IBCs market during the forecast period.
Global Ibc market was moderately consolidated with key players accounting for significant share in 2018. The companies are competing in the market by innovative offerings.
Prominent players operating in the Global Ibc Market are: DS Smith, HOYER GmbH., Plastipak Holdings, Inc., IBC Containers, Arlington Packaging (Rental) Limited, CHEP, Conitex Sonoco, INC., TPS Rental Systems Ltd., Berry Global Inc., Greif, SYSPAL Ltd., Bulk Lift International, LLC, Plymouth Industries, Pensteel Ltd., SIA FLEXITANKS, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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