Plastic Rigid IBC Market Anticipated To Surpass US$9.032 Billion By 2029 At A CAGR Of 5.79%

(MENAFN- EIN Presswire)

The plastic rigid IBC market is evaluated at US$6.091 billion for the year 2022 growing at a CAGR of 5.79% reaching the market size of US$9.032 billion by 2029.

The plastic rigid IBC market is evaluated at US$6.091 billion for the year 2022 growing at a CAGR of 5.79% reaching the market size of US$9.032 billion by the year 2029.” - Knowledge Sourcing IntelligenceNOIDA, UTTAR PRADESH, INDIA, February 13, 2024 /EINPresswire / -- According to a new study published by Knowledge Sourcing Intelligence, the plastic rigid IBC market is projected to grow at a CAGR of 5.79% between 2022 and 2029 to reach US$9.032 billion by 2029.

One of the key growth drivers to propel the plastic rigid IBC market is the increasing demand for bulk packaging, which is further increasing the growth of the packaging sector as well. The expansion of end-use sectors such as food and beverage , chemicals, agriculture, and pharmaceuticals fuel the growth of the plastic rigid IBC market since large amounts of powders and liquid can be transported easily from the use of such packaging materials. This also provides a significant boost to the packaging market , which in turn provides the necessary growth for the plastic rigid IBC market during the forecasted period. For instance, Invest India states that India's packaging industry is expected to reach an estimated $204.81 billion by 2025, which is at a CAGR of 26.7% from 2020 to 2025. This increase in the packaging industry's growth can be linked to the increase in end-user application, which is further improved by the growth in demand for plastic rigid IBC as packaging options.

There are many product launches and developments that are taking place in the plastic rigid IBC market during the forecast period. For instance, in March 2023, Mauser Packaging Solutions announced the expansion of their Infinity Series with UN-Rated IBC manufactured with Post-Consumer Resin (PCR). This 2-layer bottle of the UN-rated Infinity series IBC offers high-quality, naturally coloured recycled resin known as Recolene. Recolene is produced by shredded, washed, sorted by colour, and extruded from a selection of empty industrial packaging that had been collected through the Mauser Packaging Solutions collection program.

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The plastic rigid IBC market, based on material type, is categorized into four types- HDPE, LDPE, LLDPE, and PP. The different types of plastic rigid IBC containers will be based on the compatibility between the material and the items needed to be packaged or contained.

The plastic rigid IBC market, based on capacity, is categorized into four types- Up to 500 litres, 500-1000 litres, 1000-1500 litres, and 1500-2000 litres. The IBC containers are known for being able to contain a wide variety of sizes, which range from 500 litres to 2000 litres.

The plastic rigid IBC market, based on end-users, is categorized into five types- industrial and chemicals, petroleum and lubricants, food and beverages, pharmaceutical, and others. Industrial and chemical applications make use of plastic rigid IBC containers, due to their high durability and can contain highly concentrated chemicals without any side effects.

The North American region is expected to witness significant growth in the plastic rigid IBC market during the forecasted period. The factor that affects the market is the demand, production capacity, regulations, economic circumstances, and many others. The region is known to have a sophisticated infrastructure, increasing their emphasis on sustainability, and strict rules controlling the transportation and storage of hazardous commodities, making North America a prominent market leader in the plastic rigid IBC market.

The research includes several key players from the plastic rigid IBC market, such as Greif, BWAY Corporation, Bulk Handling Australia, Schütz GmbH & Co. KGaA, ACO Container Systems, CL Smith, Schoeller Allibert, RIKUTEC Group, Snyder Industries, and Auer Packaging.

The market analytics report segments the plastic rigid IBC market using the following criteria:

.By Material Type

oHDPE
oLDPE
oLLDPE
oPP

.By Capacity

oUp to 500 litres
o500-1000 litres
o1000-1500 litres
o1500-2000 litres

.By End-Users

oIndustrial and Chemicals
oPetroleum and Lubricants
oFood and Beverages
oPharmaceutical
oOthers

.By Geography:

oNorth America

.United States
.Canada
.Mexico

oSouth America

.Brazil
.Argentina
.Others

oEurope

.United Kingdom
.Germany
.France
.Italy
.Spain
.Others

oMiddle East and Africa

.Saudi Arabia
.UAE
.Others

oAsia Pacific

.Japan
.China
.India
.South Korea
.Taiwan
.Thailand
.Indonesia
.Others

Companies Profiled:

oGreif
oBWAY Corporation
oSchütz GmbH & Co. KGaA
oBulk Handling Australia
oSchoeller Allibert
oRIKUTEC Group
oSnyder Industries
oACO Container Systems
oCL Smith
oAuer Packaging

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Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
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