MARKET OVERVIEW - NORTH AMERICA INDUSTRIAL BULK PACKAGING MARKET
With the rapid growth in population and emerging economies, the NA Industrial Bulk packaging market has increased the demand for various industrial products like food & beverages, medicine, and cosmetics among others has further created ample scope and demand for films, and coating across the globe. Industrial Bulk packaging is ideally a fully automated machine used to apply a metallic coating to plastic items cosmetics and many other components and objects. The machine has its major role specifically for aesthetics as it adds a unique, eye-catching appearance. North-America is consisting of major countries like United State, Canada, and Mexico these countries are known to be the fastest developing countries in the field of packaging industry across the globe. This region is known to be one of the most prominent markets for industrial bulk packaging owing to high investment in the automotive, pharmaceutical, and other industrial manufacturing sectors. The growing demand for pharmaceutical packaging due to rising healthcare expenses is a major factor creating opportunities for industrial bulk packaging in this region.
MARKET DRIVERS
The NA Industrial Bulk Packaging market is driven by the increasing consumption of plastic drums for industrial packaging will contribute to the growth of the drum sector. The use of plastic allows manufacturers to offer customers a variety of color options, thus increasing the marketing of their products. To offset the risks associated with the production and consumption of plastic packaging, market players are expected to focus on the use of biodegradable materials (plastics) for the production of industrial packaging for large sizes during the forecast period.
MARKET OPPORTUNITIES
The market is expected to have a new opportunity that it is increased production in many industries and trade in commodities such as chemicals and petroleum products increase the demand for bulk packages and boxes. Industrial packaging companies serve various industries such as construction and chemical industries. The growth of trade between countries and the safe transportation of products leads to an increase in the demand for efficient industrial packaging in these industries. Growing demand from the chemical and petroleum industries is the main driver of industrial packaging market growth.
MARKET RESTRAINTS
The market has major restraining factors like Fluctuations in crude prices. Crude oil and natural gas are the main sources of oil and ethylene, which are the main raw materials for the production of polypropylene. The polypropylene market and producers face challenges in areas such as supply, demand, and price fluctuations of raw materials. Due to the increase in the price of raw materials, sellers increase the prices of their products or reduce the profit margin, which can negatively affect the growth of the market.
MARKET GROWTH CHALLENGES
Recycling & environmental concerns associated with industrial bulk packaging have created a major challenge 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 leak into the ocean, which 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 represent the major share.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the NA 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 the increasing demand for various Industrial Bulk Packaging in various applications has led to the increasing demand for the market and is expected to witness growth at a CAGR at specific CAGR from 2022-2028.
NORTH AMERICA INDUSTRIAL BULK PACKAGING MARKET SEGMENTAL OVERVIEW
The North America Industrial Bulk Packaging market comprises different market segments like Product Type, End-Use Industry and Country.
INDUSTRIAL BULK PACKAGING MARKET BY MACHINE TYPE
By product type, Industrial Bulk Packaging includes a 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 the largest share in the market since these are considered to be suitable for many 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 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 are expected to drive the demand for the industrial bulk packaging market.
INDUSTRIAL BULK PACKAGING MARKET BY End User Industry
The Industrial Bulk Packaging market has a major end-user industry in
- Automotive
- Industrial Manufacturing
- Food & Beverage
- Chemical & Petrochemical
- Pharmaceutical
- Cosmetics
- Lithium Ion Battery Manufacturing
The industrial manufacturing segment dominated the market in 2021 and is expected to maintain its dominance during the forecast period. Chemicals, 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 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 COUNTRY
The NA Industrial Bulk Packaging market is studied for the following region
- The United States
- Canada
- Mexico
In the North American region, the U.S. is the most prominent market for industrial bulk packaging, since the country is widely known for its automotive industry across the globe. The country is considered to be one of the largest producers and sellers of automobiles across the globe. There are more than 30 automotive brands in the country responsible for the growth of the automotive industry in the United States. Also, according to the U.S. department of transportation, more than 24% of the households in the country have 3 or more vehicles, which makes it one of the largest automotive-owning countries. In addition to that, the United States is considered to be one of the largest markets for automotive manufacturing. According to a report issued by the Bureau of Economics, in 2018, motor vehicles and parts accounted for $521.5 billion of the $20.58 trillion in total U.S. GDP. Also, the country is considered to be one of the major global suppliers of automotive components which creates the demand for industrial bulk packaging.
COVID-19 IMPACT ANALYSIS ON NA INDUSTRIAL BULK PACKAGING MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360-degree analysis of micro and macroeconomic factors in the NA Industrial Bulk Packaging market. In addition, complete analysis of changes in the NA Industrial Bulk Packaging market expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of a pandemic on NA economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. The countries that are reliant on the partnered countries for the raw materials in the pharma industry are severely affected by this spread of the virus, as it generated a halt in the supply of all products between the two countries. For example, the US is highly reliant on Asian companies for the raw materials associated with medical and pharmaceutical devices and they faced high risks of supply shortages during the pandemic period.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the Industrial Bulk Packaging market is majorly focused on expanding the NA growth of Industrial Bulk Packaging with new product innovation, business expansion, and increasing the presence of a range of manufacturers operating in Industrial Bulk Packaging has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfill the required demand of consumers which is further contributing to healthy growth in the market.
The key players studied in the market are
- Greif
- International Paper
- ORBIS Corporation
- IPS Packaging & Automation
- Myers Container
- Bulk Lift International
- Mauser Packaging Solutions
RECENT DEVELOPMENT:
April 2021: Mauser Packaging Solutions has announced the acquisition of NA Tank Srl through Joint Venture NCG-Maider in Italy. With this acquisition, Mauser Packaging Solutions has further extended the offering of industrial packaging products and services in the Italian market. NA 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.
