COVID-19 IMPACT ANALYSIS ON GLOBAL INDUSTRIAL BULK PACKAGING MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global Industrial Bulk Packaging market. In addition, complete analysis of changes on the global Industrial Bulk Packaging market expenditure, economic and international policies on supply and demand side. The report also studies the impact of a pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. The economies across the globe have weakened as there is a significant decline in the demand for products. The production across the above-mentioned was limited owing to the pandemic resulting in a shortage of raw materials. The supply chain disruptions and decline in exports are the primary factors contributing to reduce in production. And thereby, the industrial bulk packaging market was also get affected by COVID-19 pandemic.
MARKET OVERVIEW- GLOBAL INDUSTRIAL BULK PACKAGING MARKET
MARKET DRIVERS
The global Industrial Bulk Packaging market is driven by growth in the pharmaceutical industry. With the growing population and consumer demand for various products like food and beverage, medicine, cosmetics among others has boosted the manufacturer production demand. This factor has further created ample of scope for packaging and demand for films, coating across the industries. Hence with the rising demand for packaging the manufacturer are expected to have requirement for different machinery which is where Industrial Bulk Packaging market finds its major demand in the packaging industry. On the other side, rapid urbanization in developing countries is expected to give the market a rise of growth during the estimated time period.
MARKET OPPORTUNITIES
The market is expected to have new opportunity is that it is increasing Demand For Industrial Packaging From Chemical and Cosmetics Industry. Furthermore, rising use of bulk packaging solutions for packaging of personal care products is further propelling the growth of the market across the globe. The global personal care and cosmetics industry is growing at a rapid pace. A number of consumers across the globe are started using personal care products in order to maintain personal hygiene. In addition, changing consumer preferences and tastes are playing an important role in propelling the growth of the global market. The rise in per capita disposable incomes and increasing awareness about appearance and grooming among individuals are some other factors impelling the growth of the cosmetics market, consequently flourishing the demand for industrial bulk packaging for transportation and storage of cosmetics.
MARKET RESTRAINTS
The market has major restraining factor like drawbacks of using industrial bulk packaging solutions. Drums, normally made of either plastic or metal, have long been a stand-by for a range of industries. Until advancements started making progress in other choices, they were not a bad choice, as they were strong, stable, and predictable in weight and size. The problem is that use issues arose: it is very difficult, for instance, to get all of a viscous or liquid product removed from a drum, even with a gravity-assist dispenser. This results into product waste, which in turn drives up costs.
MARKET GROWTH CHALLENGES
recycling & environmental concerns associated with industrial bulk packaging has created a major challenges for the market growth. Packaging has a lot of environmental impacts, while it also represents a significant cost in the current supply system. As per the World Economic Forum, every year, at least 8 million tons of plastic leaks into the ocean, which is correspondent to discarding the substances of one garbage truck into the ocean every minute. This is anticipated to increase to two per minute by 2030 and four per minute by 2050, which can destroy the ecosystem. Approximately 90% of all the trash in the oceans is from plastic. It is considered that industrial bulk packaging solutions represents the major share.
CUMULATIVE GROWTH ANALYSIS
The report provides in-depth analysis of global Industrial Bulk Packaging market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various Industrial Bulk Packaging in various applications has led the increasing demand for market and is expected to witness the growth at a CAGR at specific CAGR from 2021-2028.
INDUSTRIAL BULK PACKAGING MARKET SEGMENTAL OVERVIEW
The global Industrial Bulk Packaging market comprises of different market segment like product type, end use industry and geography.
INDUSTRIAL BULK PACKAGING MARKET BY MACHINE TYPE
By product type, the Industrial Bulk Packaging includes key segment of
- Intermediate Bulk Container
- Rigid IBC Container
- Flexible IBC Container
- Drums
- Jerry Cans
- Pails
- Totes/Cracks
- Corrugated Boxes
- Pallets and Crates
- Others
Pallets & crates are considered to hold largest share in the market, since these are considered to be suitable for many of the industries which include chemicals, solvents, pharmaceuticals, liquids, food ingredients, sand and grain, and many more. In addition, IBCs are also witnessing rapid growth. IBCs are widely used in the aquaponics, general bulk storage, and rainwater harvesting for watering or harvesting as well. Thus, owing to availability of different types of industrial bulk packaging containers in the market and increased demand for these packaging products in the industrial sector is expected to drive the demand for industrial bulk packaging market.
INDUSTRIAL BULK PACKAGING MARKET BY End User Industry
The Industrial Bulk Packaging market has major end user industry in
- Automotive
- Industrial Manufacturing
- Food & Beverage
- Chemical & Petrochemical
- Pharmaceutical
- Cosmetics
- Lithium Ion Battery Manufacturing
Industrial manufacturing segment dominated the market in 2021 and is expected to maintain its dominance during the forecast period. Chemical, food and beverage and pharmaceutical are major industries in this segment. Increasing demand and adoption of intermediate bulk packaging solutions such as tanks and containers in the aforementioned major industries is impelling the market growth. For instance, intermediate bulk containers are generally used for the safe storage and transportation of food-grade materials and bulk liquids. With the added bottom and top discharge taps, they are also a suitable solution as storage dispensers. Furthermore, the packaging industry is integral to the manufacturing industry for a good number of reasons.
INDUSTRIAL BULK PACKAGING MARKET BY GEOGRAPHY
The global Industrial Bulk Packaging market is studied for the following region
- North America
- Europe
- Asia-Pacific
- Rest of the world (RoW)
Asia Pacific is anticipated to witness increasing demand for Industrial Bulk Packaging owing to presence to well established market players. as the region is going through major economic development phase and the domestic income in the country is growing rapidly. In this region, the food and beverage industry is growing at a faster rate, with growing retail industry. Also, the countries like China and India are major exporters of food & beverages across the globe. Moreover, in recent years, the manufacturing industries in this region are developing at a significant rate owing to government policies and FDI in various sectors, which has created the demand for industrial bulk packaging. In addition to that, China is considered to be the major country in this region, since the country is one of the largest producers of pharmaceutical, auto parts and chemicals. Also, in coming years, the country is expected to increase the production of lithium-ion batteries as well, creating an opportunity for the industrial bulk packaging market to grow further.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of Industrial Bulk Packaging market is majorly focused on expanding the global growth of Industrial Bulk Packaging with new product innovation, business expansion, increasing presence of range of manufacturer operating in Industrial Bulk Packaging has led the growing demand for the market. Besides, the market offers range of products in different application to fulfill the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
- Greif
- International Paper
- ORBIS Corporation
- Pyramid Technoplast Pvt Ltd
- Time Technoplast Ltd
- DS Smith
- IPS Packaging & Automation
- Myers Container
- Peninsula Drums
- Bulk Lift International
- Schütz GmbH & Co. KGaA
- Mauser Packaging Solutions
RECENT DEVELOPMENT:
April 2021: Mauser Packaging Solutions has announced the acquisition of Global Tank Srl through Joint Venture NCG-Maider in Italy. By this acquisition, Mauser Packaging Solutions has further extended the offering of industrial packaging products and services in the Italian market. Global Tank Srl was founded by Carmela Cecere and Alfonso Albanese in 2008 and is a family owned business that has been involved in the reconditioning of industrial packaging for more than 12 years and is located in Magnago, close to Milan in the Centre North part of Italy.
