NEWARK, DEL, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The folding IBC market is forecast to reach US$ 793.6 billion in 2023 and US$ 1,471.2 billion in 2033. A 6.3% growth rate is expected between 2023 and 2033. Industry sectors such as chemical, pharmaceutical, and food and beverage can all be attributed to this growth.
The performance and durability of folding IBC containers is likely to improve as materials, designs, and manufacturing processes improve. As a result, safety features can be enhanced, load capacity can be increased, and various products are more compatible.
Worker safety can be improved by improving the ergonomics of folding IBCs. A better wheel or caster might be incorporated, along with ergonomic handles and lifting aids. Rapid prototyping and design iteration can be achieved using 3D printing technology, allowing for quick and cost-effective development of custom solutions.
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Technology such as virtual reality and augmented reality can assist with training and maintenance. The use of these technologies can streamline maintenance processes, as well as train workers to handle IBCs more efficiently. Tracking, scheduling, and inventory management can be simplified through integration with supply chain management systems. Supply chains can be improved by this process in terms of efficiency and responsiveness.
Folding IBCs can be handled easier, reduced shipping cost, and can last longer if they are made of lightweight, durable materials. Injection molding and rotational molding are examples of advanced manufacturing processes that can reduce production costs so folding IBCs are more accessible to a broader range of industries. Innovative technologies make folding IBCs easier to assemble and disassemble, reducing labor costs and improving usability. With innovative folding mechanisms, such as hinged or collapsible sidewalls, IBCs will be more attractive to businesses with limited storage space.
Key Takeaways
- India is expected to expand at a CAGR of 6.2% from 2023 to 2033.
- Packaging content for liquids is expected to dominate the market with a share of 89.8% during the forecast period.
- Germany is predicted to increase at a CAGR of 2.1% during the forecast period.
- A market share of 45.4% is expected to be attained by chemical applications by the end of the forecast period.
- In 2033, the United Kingdom is anticipated to increase at a compound annual growth rate of 4.1%.
“Integration of the supply chain and regulatory compliance will drive demand for folding IBC. Technological advancements and safety and security features will drive market growth in coming years." Ismail Sutaria, Principal consultant at Future Market Insights
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Competitive Landscape
Due to the growing demand for folding IBCs, key manufacturers are focusing on expanding their production capabilities. In addition, key players are expanding their product portfolios in order to keep up with the rapidly growing folding IBC market.
Key Players-
- Schoeller Allibert Group B.V.
- Ac Buckhorn LLC
- Finncont Oy
- A. R. Arena Products Inc.
- TranPak Inc.
- TPS Rental Systems Ltd
- RPP Containers
- Horen Group
- ORBIS Corp.
- Bulk Handling Australia Group Pty Ltd
- Dalian CIMC Logistics Equipment Co. Ltd.
- Loscam Ltd.
- Milford IBC
Market Developments Include
- In May 2023, Tosca released a new LCA tool to encourage bulk liquid transportation in foldable containers. The company proposes the use of foldable Intermediate Bulk Containers (IBCs) to reduce greenhouse gas emissions, fossil fuel consumption, and water usage in bulk liquid transportation.
- In August 2023, RPP Containers, an industry leader in manufacturing and stocking bulk containers, partnered with ALPAL as the exclusive distributor of the Stackable Foldable IBC 40 x 48 x 43. Providing innovative storage and transportation solutions to customers is the goal of this strategic partnership between two industry leaders.
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Key Segmentations-
By Material:
- Metal Folding IBCs
- Carbon Steel Folding IBCs
- Stainless Steel Folding IBCs
- Plastic Folding IBCs
By Capacity Type:
- Up to 500 L
- 501 to 1000 L
- 1,001 to 1,500 L
By Application:
- Chemicals
- Hazardous
- Non-Hazardous
- Petrochemical Products
- Paints, Inks, & Dye
- Food & Beverage
- Automotive & Mechanical Parts
- Cosmetics & Toiletries
- Others
By Packaging Content:
- Liquid
- Solid & Semisolid
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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