LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global industrial packaging market is expected to grow at a CAGR of 3.47% during the forecast period.
This research report titled ‘Global Industrial Packaging Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
“When the products, especially from industries such as chemical, healthcare, and food and beverage need to be delivered from one production unit to other, the safety measure becomes more stringent as a large amount of product are being transported. This is when these industries increasingly demand for product packaging, considering its capacity and durability. This, in turn, boost the growth of the global industrial packaging market. The growth of the market is mostly attributed to the supply of convenient rigid bulk packaging solutions by companies to customers across all consumables verticals,” says Sharan Raj, a lead analyst at Technavio for research on packaging.
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The report categorizes the global industrial packaging market into the following product segments:
- Crates and totes
- Sacks
- IBCs
- Others
Global industrial packaging market by crates and totes
With a market share of more than 26%, the packaging crates segment dominated the global industrial packaging market in 2015. Packaging crates are used for fresh produce products like fruits and vegetables during harvest, post-harvest handling, transportation, and storage. They are available in two types of materials: wood and plastic. Wood crates are the prominent ones in the market and they hold around 80% of the total crates packaging. The major advantage of wooden crates is that they have good ventilation and can be manufactured locally. However, increased demand for plastic crates can hinder the growth of the market during the forecast period.
Plastic crates are made of high-density polyethylene or polypropylene. The use of high density polyethylene is more as it offers ultra-violet protection and provides greater strength against impact. Plastic crates can be categorized as nesting, stacking, stacking and nesting, or collapsible containers. There are several advantages offered by plastic crates.
Global industrial packaging market by sacks
The construction industry has the highest share in terms of use of packaging sacks because of packaging of construction materials like sand and cement while making roads, ports, buildings, and other construction activities. However, the growth rate is slow, posting a below average CAGR of 1.86%. This leads to slow construction activities due to global economic slowdown.
“The construction market was growing moderately in 2014 and there are signs of positive growth in future. The emerging markets will be responsible for growth in this sector, thereby helping the sector to post a CAGR of more than 3% during the forecast period,” says Sharan.
Global industrial packaging market by intermediate bulk containers (IBCs)
Intermediate bulk containers consist mainly of two segments:
- Flexible packaging
- Rigid packaging
Rigid intermediate bulk containers (RIBCs) account for a larger share as compared to FIBCs, accounting for approximately 77% of the IBC market; moreover, this segment is expected to experience a high growth rate during the forecast period. Europe accounted for 30.71% of the global consumption for rigid bulk packaging in 2015. Germany has emerged as the largest market for rigid bulk packaging because of its strong performance in the end user industries.
The flexible intermediate bulk container (FIBC) market is growing at a CAGR of 7.85% during the forecast period. In 2014, the majority of market share in the global FIBC market was occupied by the chemical industries, amounting to 27.64%, followed by the food and pharmaceutical industries.
Global industrial packaging market by others
While the market is dominated by crates and totes, the demand for the other segments has also increased as most of the crates are made of wood, which, if untreated, can easily become contaminated.
Other packaging includes drums, pails, bulk boxes, and material handling containers. The drums segment accounted for the major share in the industrial packaging market compared to the other segments, accounting for 30.87% of the others market. Although, its share is expected to decrease gradually over the forecast period, but their popularity is not expected to diminish owing to their low cost, easy portability, and multiple types of use.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Greif
- International Paper
- Nefab Group
- Schutz
- Sonoco
Browse Related Reports:
- Global Packaging Market 2016-2020
- Flexible Packaging Market in Europe 2016-2020
- Global Rigid Packaging Market 2016-2020
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