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.
Market growth is predicted to be fueled by increased consumer awareness of IBC's benefits and extensive usage of the product across a variety of end-user industries throughout the forecast period. A rise in construction activities and advancements in the automotive sector is also expected to lead to a growing trend in market growth. The increasing demand for paints and coatings is a key market factor that is projected to have a positive effect on the plastic rigid IBC market growth.
Introduction:
IBC (Intermediate Bulk Container) containers made of hard plastic are frequently chosen for international shipping. Polyethylene (HDPE) is often rotationally moulded to a thickness of one-half inch for hard plastic IBCs. Because they are composed of plastic, which has no corrosion, the plastic rigid IBC is strong, reusable, and essentially corrosion-resistant. sectors including the chemical, food, beverage, pharmaceutical, paint, ink, and dye, petrochemical, and lubricant sectors, among others, heavily rely on plastic rigid IBC. The market for plastic rigid IBCs (intermediate bulk containers) is being driven by the use of rigid plastic containers due to their longevity and mechanical strength. Every business makes use of the packaging system for product mobility and transportation to protect finished goods from environmental harm and transportation-related deterioration. The plastic rigid IBC (intermediate bulk container) is widely used in the food and beverage sector since ready-to-eat food is in high demand due to consumers' busy lifestyles and has proven to be essential in mechanical strength during mobility. From the standpoint of environmental conservation, plastic rigid IBCs (intermediate containers) are also employed to store commodities. The improved shelf-life of the food item is achieved through a new advancement in rigid plastic packaging that shields food and drinks from antimicrobial contamination, moisture, and air packing. Therefore, increasing retail product demand, particularly in E-commerce, is anticipated to expand market possibilities for the plastic rigid IBC (intermediate containers) market. As both consumer products and industrial goods require transportation facilities to reach end users, growing rapid industrialization is the primary reason for the market to expand. The industrial sector is also developing as a result of an increase in production facilities brought on by increased demand and population. These elements have fueled the market expansion for plastic rigid intermediate bulk containers.
Drivers:
Products offered by key companies:
The prominent growth in the PP material sector under the material type segment
Based on material type, the PP material segment is expected to dominate the Plastic rigid IBC market over the forecast period. PP (polypropylene) is a remarkable material type that resists chemicals like bases, acids, and solvents. Due to its resilience in adverse environmental circumstances and the widespread adoption of PP by numerous sectors, the demand for PP is steadily rising. Due to end customers' increased usage of PP (polypropylene) as a result of its affordability and comparatively low prices, the market's potential is being increased. End customers, including the automotive and packaging industries, are expanding their usage of it because of its lightweight and thermal resilience. Extrusion and blow moulding, two cutting-edge production processes that are boosting the plastic rigid IBC market share, make it simple to modify PP crease their user cases hence boosting market demand.
The North American region is expected to hold a significant share of the Plastic rigid IBC market:
The North American market is expected to expand exponentially throughout the predicted period. Demand, production capacity, regulations, and economic circumstances are just a few examples of the geographical elements that have an impact on the plastic rigid intermediate bulk container (IBC) market. Due to the region's sophisticated industrial infrastructure, growing emphasis on sustainability, and strict rules controlling the transportation and storage of hazardous commodities, North America has been a prominent market for plastic rigid IBCs.
Key developments:
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2022 | US$6.091 billion |
| Market Size Value in 2029 | US$9.032 billion |
| Growth Rate | CAGR of 5.79% from 2022 to 2029 |
| Base Year | 2022 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered |
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| Companies Covered |
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| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
SEGMENTS: