The plastic rigid IBC market is projected to witness lucrative growth during the forecast period. Sales are projected to grow at a considerable pace during 2022-2032 and are anticipated to create an incremental growth opportunity of US$ 3.1 Bn
NEWARK, DE / ACCESSWIRE / October 6, 2022 / The global plastic rigid IBS market is expected to create an optimistic outlook over the projection period by exhibiting a CAGR of 4.8% from 2022 to 2032. The market is predicted to be valued at US$ 5.6 Bn in 2022 and reach US$ 9.1 Bn by the end of 2032. The top 3 countries are expected to generate maximum revenue in the plastic rigid IBC market which is expected to hold around30-35% of the global plastic rigid IBC market by the end of 2022.
Owing to the increasing adoption of HDPE IBC for bulk packaging, the HDPE rigid IBC segment by the material is likely to capture the major portion. The target segment is expected to hold around 70% of the market share by the end of 2032. Furthermore, plastic rigid IBCs are able to empty properly which is usually not the case with drums as a reasonable amount of residue is left behind at the bottom of the drum.
According to the historical estimations conducted by FMI, in 2021, the plastic rigid IBC market touched a valuation of US$ 5.4 Bn. The demand for plastic rigid IBC with a maximum capacity of 1001-2000 liters is projected to augment with the top 5 companies estimated to hold approximately 20-25% of the global plastic rigid IBC market by the end of 2022.
Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-5222
The use of IBCs is surging at a significant pace for efficient transportation of products including paints, coatings, and dyes. Rigid IBCs are one the suitable packaging solutions for the shipping of harmful and corrosive fluids.
From a storage point of view as well, the IBCs play a vital role. Paints, coatings, and dyes are a demanding industry that requires storage and transport containers, which can endure various chemicals and successfully deliver the product without affecting its quality.
According to the reports of the American Coatings Association, the majority of the paints and coatings products tick all the boxes set for hazardous materials and are regulated by the U.S. Department of Transportation's (DOT) Hazardous Materials Regulations (HMR) in reference to the current regulations for rail, highway, air, and sea transportation.
The demand for IBCs is expected to bolster as it secures transportation of hazardous products in the paints, coatings, and dyes industry. Attributing to the aforementioned factors, the demand for plastic rigid IBCs is expected to surge at a rapid pace in the coming decade.
Reconditioned IBCs go through several processes including washing, furnace oxidation, and others. These are then dried, reinforced, and purified of all the residues from their last use. Reusing IBCs has a more positive effect on the environment than turning them into scrap.
Surging environmental concerns over recycling and safe degradation of packaging containers have resulted in the implications of new regulations and policies. Therefore, the implementation of strict rules for companies in order to reuse their containers with previous leftovers may spread cross-contamination.
Prominent key players in the plastic rigid IBC market are concentrating on expanding their product portfolios in order to cater to the growing demand for bulk packaging. In addition to that, some of the other key players are focusing on surging their capabilities and resources with the help of mergers and acquisitions.
More Insights into the Plastic Rigid IBC Market
The prominent portion of the European plastic rigid IBC market is occupied by Germany. Germany is predicted to account for around 18% of the total European plastic rigid IBC market share over the projection period.
Owing to the expansion of the chemicals & materials industry, the demand for bulk containers and reusable containers in Germany is on the rise. As per the Germany Trade & Invest (GTAI), around 27% of the total chemical industry revenue in EU-28 was generated by German chemical companies in 2021.
The China plastic rigid IBC market is expected to bolster growth at a stable CAGR of 5.6% from 2022 to 2032. The growth is accounted to the surging export of products in China, which creates a high demand for reusable transport packaging. It is further projected to drive the demand for plastic rigid IBCs.
Browse Full Report@ https://www.futuremarketinsights.com/reports/regenerative-medicine-market
Plastic Rigid IBC Market Outlook by Category
Up to 500 Liters
Above 2000 Liters
By End Use:
Petroleum & Lubricants
Paints, Inks & Dyes
Food & beverages
Building & Construction
Others (Waste Disposal/Recycling & Silage, etc.)
Middle East & Africa
Get In Touch With Our Team For 20% Flat Discount@ https://www.futuremarketinsights.com/ask-question/rep-gb-5222
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Impact of Covid-19
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Macro Factors and Forecast Factors
3.4. Value Chain Analysis
3.4.1. Profit Margin Analysis
3.4.2. Raw Material Suppliers
3.4.3. Manufacturers, Wholesalers and Distributors
3.4.4. End Users/ Customers
3.5. Regional Parent Market Outlook
3.6. Production and Consumption Statistics
3.7. Global Average Pricing Analysis Benchmark
Get detailed TOC@ https://www.futuremarketinsights.com/toc/rep-gb-5222
Have a Look at More Valuable Insights of Healthcare
Plastic Pails Market Size is estimated at US$ 1,223.6 Mn in 2022 and is projected to reach US$ 1,743.1 Mn by 2030, at a CAGR of 4.5% from 2022 to 2030
Plastic Vials Market Share is expected to grow at a CAGR of 4.9% over the forecast period (2022-2032). Sales of plastic vials are projected to increase from US$ 1.2 Bn in 2022 to US$ 1.9 Bn by 2032
Plastic Healthcare Packaging Market Demand will rise at a compound annual growth rate (CAGR) of 5.1% between 2021 and 2031
Plastic Caps & Closures Market Growth is estimated at US$ 44 Bn in 2022 and is projected to reach US$ 61 Bn by 2029, at a CAGR of 5.0% from 2022 to 2029
Plastic-Free Packs Market Forecast is projected to reach US$ 8,000.8 million by 2032, up from US$ 3,671.8 million in 2022, advancing at a CAGR of 8.1% during the forecast period (2022-2032)
ABOUT FUTURE MARKET INSIGHTS, INC.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
For Sales Enquiries: email@example.com
SOURCE: Future Market Insights Inc.
View source version on accesswire.com: