Intermediate Bulk Container (IBC) Market to Reach USD 34.5 Billion by 2031 Driven by Growing Global Trade and Expanding Applications

The Intermediate Bulk Container (IBC) market Size is projected to reach USD 34.5 billion by 2031, growing at a CAGR of 5.6% from 2024-2031, as reported by the SNS Insider report. This growth is attributed to the increasing demand for efficient and cost-effective solutions for transporting bulk goods internationally, driven by globalization and expanding global trade.

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Some of Major Keyplayers in this Report:

• Bulk Lift International
• Greif Inc
• WeidenhammerPackunghen
• Berry Plastics
• Mauser Packaging Solutions
• Schuetz Container System
• Time Techno Plast Ltd
• OMCE di
• TPL Plastech Ltd.
• Rocchetti Amleto S.p.A
• Snyder Industries, Inc.

Expanding Applications and Market Drivers

The widespread adoption of IBCs across various industries, including chemicals, food & beverage, pharmaceuticals, and construction, is a key driver of market growth. These containers offer a versatile and secure solution for transporting and storing liquids, semi-solids, and solids, both hazardous and non-hazardous. The integration of RFID technology allows for efficient tracking and management of IBCs in supply chains, further enhancing their appeal. The initial cost of acquiring IBCs can be a barrier for smaller businesses. High-quality materials and advanced manufacturing processes contribute to the overall cost. Another challenge lies in the price volatility of raw materials used in IBC production.

Recent Developments in the IBC Market

April 2023, Greif, Inc. acquired an 80% stake in Centurion Container LLC, a leader in North American IBC and plastic drum reconditioning, for USD 145 million. This move strengthens Greif’s position in the IBC market.

December 2022, New Water Capital invested in the FIBC sector with the acquisition of Bulk Lift International and Bagwell Supply. This investment highlights the growing demand for flexible IBCs in various industries.

March 2022, Mauser Packaging Solutions received UN certification for its Infinity Series IBC, a composite IBC with a recycled plastic inner receptacle. This development reflects the increasing focus on sustainability in the IBC market.

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Segment Analysis

Plastic currently holds the dominant share in the IBC market due to its lightweight nature, aesthetic appeal, robust barrier properties, and cost-effectiveness compared to metals. High-density polyethylene (HDPE) is a popular choice for its durability and ability to withstand harsh weather conditions. Metal IBCs are expected to witness significant growth due to their reusability benefits and suitability for stacking during transportation.

Impact of Global Disruptions

The Russia-Ukraine war has increased the cost of raw materials, leading to higher production costs for IBC manufacturers. geopolitical tensions have caused uncertainty in international trade, affecting the demand for bulk transportation solutions. The global economic slowdown has also impacted the IBC market. Reduced industrial activity and lower consumer spending have led to decreased demand for bulk transportation solutions. However, sectors like food & beverage and pharmaceuticals, which are essential industries, continue to drive demand for IBCs. Companies are focusing on cost-effective and efficient packaging solutions to navigate the challenging economic environment. For example, a major food manufacturer shifted to using IBCs for bulk ingredient transport to reduce costs and improve supply chain efficiency during the economic downturn.

Regional Developments

The Asia-Pacific region Dominate the market with the largest market for industrial bulk packaging in 2023, with Japan, China, and India being major contributors. Rising industrial spending and favorable factors such as the availability of cheap land and labor have driven market growth in the region. Europe was the second-largest market, driven by the healthy growth of the pharmaceutical industry and the presence of a large geriatric population, which increased the demand for pharmaceutical products.

Key Takeaways for the IBC Market

• The report highlights the significant growth potential of the IBC market due to rising global trade and expanding applications.
• Increasing demand for efficient and cost-effective bulk transportation solutions, coupled with technological advancements like RFID integration, will drive market growth.
• The report provides valuable insights into market segmentation, recent developments, regional trends, and potential challenges to equip stakeholders with a comprehensive understanding of the IBC market landscape.

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