The global intermediate bulk container market size was USD 9.42 billion in 2023. The market is set to rise from USD 9.93 billion in 2024 to USD 15.62 billion by 2032 at a CAGR of 5.83% during 2024-2032. A pallet-mounted, reusable, industrial-grade container called an Intermediate Bulk Container (IBC) is highly adopted for the storage and shipping of liquids and powders in high quantities. Increasing focus on sustainability and eco-friendly packaging solutions is projected to foster market growth during the forecast period. Fortune Business Insights presents this information in their report titled "Intermediate Bulk Container Market, 2024–2032."

Segments

Increased Demand for Plastic Due to Its Cost-effectiveness Augments Segment Growth

In terms of material, the market is segregated into plastic, metal, and paper & paperboard. The plastic segment accounts for the largest intermediate bulk container market share as it is robust, durable, and light in weight. Increased demand for plastic due to its cost-effectiveness is fueling segment growth.

Growing Preference for Rigid Tanks as They are Much Stronger Fuels Segment Growth

On the basis of the product type, the market is bifurcated into rigid and flexible. The rigid segment dominates the global market. Rigid IBC tanks are produced with High-Density Polyethylene (HDPE). Increasing preference for rigid tanks, as they are much stronger and more stable than traditional metal or glass containers.

Increase in End-user Buying of Appliances PropelsIndustrial Chemical Segment Growth

By the end-use industry, the market is classified into industrial chemical, food & beverage, building & construction, pharmaceutical, agriculture, paint & coating, and others. The industrial chemical segment takes the lead in the market. Rapid changes in lifestyle and a rising middle class in emerging markets are driving the demand for chemicals as more end-users buy appliances, consumer goods, automobiles, and other products.

From the regional ground, the market is classified into Europe, Latin America, North America, Asia Pacific, and the Middle East & Africa.

Report Coverage

The market research report presents a comprehensive market examination, emphasizing crucial elements, including the competitive environment and prominent product categories. Moreover, the report offers valuable insights on market trends and significant industry developments. Apart from the factors above, the report includes many factors that have boosted market expansion in recent times.

Source- https://www.fortunebusinessinsights.com/intermediate-bulk-container-market-109253 

Drivers and Restraints

Increase in Globalization and International Trade to Boost Market Development

Rapid globalization has led to a rise in international trade between industrialized and emerging countries. With the expansion of global trade, the economies of various countries depend on exports and good international relations, and several supply chains also count on raw materials from various countries even before the finished product is ready for delivery. This is boosting the sales of intermediate bulk containers. The increasing need for powerful, cost-effective, and efficient transporting of a variety of bulk goods internationally is propelling the intermediate bulk container market growth.

Nevertheless, the high cost of producing reliable and safe intermediate bulk containers is hampering market growth.

Regional Insights

Asia Pacific Commands the Market Due to Increase in Industrialization

Asia Pacific commands the global market. An increase in industrialization and the rapid expansion of end-use industries are the key factors boosting market growth in the region.

North America is the second leading region of the market owing to the existence of prominent companies and constant product advancements.

Competitive Landscape

Growing Focus on Increasing Their Customer Base by Top Companies to Augment Market Growth

The global market is highly competitive and fragmented. Some key players command the market by launching advanced packaging solutions. Leading intermediate bulk container companies emphasize innovation and boosting their customer base across regions.

Key Industry Development

• August 2023: Schütz introduced Ecobulk SX-D IBC for shipping and storage of flammable hazardous liquids. It provides high protection for these products, even under severe conditions and in critical regions.

List of Key Players Profiled in the Market Report

• Grief Inc. (U.S.)
• DS Smith (U.K.)
• Pyramid Technoplast Ltd (India)
• Thielmann US LLC (Switzerland)
• Time Technoplast Ltd (India)
• Mondi Plc (U.K.)
• SCHÜTZ GmbH & Co. KGaA (Germany)
• Pyramid IBC Containers (India)
• Mauser Packaging Solutions (U.S.)
• SIA Flexitanks Limited (U.S.)
• Snyder Industries, Inc. (U.S.)
• Rishi FIBC Solutions PVT. LTD. (India)