According to Future Market Insights research, during the projected period, the global carbon steel IBC market is set to enjoy a valuation of US$ 2.6 Billion in 2022, and further expand at a CAGR of 5.4% to reach US$ 4.4 Billion by the year 2032. The sales of the boxes by Capacity are anticipated to bolster with the top 3 countries estimated to hold around 30 to 35% of the market by the end of 2022.
Based on the capacity, 160 -350 gallons are the most preferable IBC’s for industrial chemicals. The reason behind the same is convenience and superior product protection and heavy-duty transportation can be done. The IBCs 160 - 350 gallons capacity are estimated to be valued at US$ 1.2 Bn by end of 2032.
| Attributes | Details |
|---|---|
| Market Size 2022 | US$ 2.6 Billion |
| Market Size 2032 | US$ 4.4 Billion |
| Value CAGR (2022 to 2032) | 5.4% |
| Collective Value Share: Top 3 Countries (2022E) | 30 to 35% |
According to the FMI analysis, the carbon steel IBC market revenue totaled US$ 2.5 Billion in 2021. With the propelling demand from the various End Use, the global carbon steel IBC market is projected to reach US$ 4.4 Billion by 2032, accelerating at a CAGR of 5.4% during the forecast period.
The carbon steel IBC market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that the carbon steel IBC sales will rise during 2022-2032 and is projected to create an absolute incremental growth opportunity of US$ 1.9 Billion.
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The global carbon steel IBC market witnessed a CAGR of 3.9% during the historic period with a market value of US$ 2.5 Bn in 2021 from US$ 2.0 Bn in 2015.
Carbon Steel IBC are metal containers having substantial demand from chemical sectors. They are heavy but are considered safe storage containers for liquid form chemicals and concentrations. Carbon steel IBCs have huge demand from the petroleum industry also. The IBCs are suitable for lubricant transportation and have no chemical reactions in between. Due to the pandemic, new logistics have been introduced to the market, and carbon steel IBCs are the most preferable for the same. The steady growing chemical industry is projected to drive the demand for carbon steel IBCs. Overall, the global carbon steel IBC market is anticipated to bolster at a faster pace during the forecast period.
The carbon steel IBCs are suitable for chemical transportation. The steel intermediate bulk containers are free from chemical reactions and also provide safety during logistics. The mass storage of chemicals and liquid concentrations can be possible through such containers. The storage facility of the containers increases the demand in the chemical industry, as they are required to store hazardous chemicals for a long period. Carbon steel IBCs can avail those chemicals from explosions also. Such heavy requirements of intermediate bulk containers for the industry, it is driving the carbon steel IBC market incrementally.
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The 160 – 350 gallons capacity segment is anticipated to register a CAGR of 5.6% during the forecast period. Different end users prefer various capacity containers, but containers with a capacity of 160 – 350 gallons are in most demand. To store chemicals or lubricants for a longer period these carbon steel IBCs are used. With the aspects of durability and climate-resistance quality, intermediate bulk containers are preferred by most logistic chains. The global carbon steel IBC market is in steady growth since transportation and supply chain industries are having incremental trends. The demand for storage-friendly and durable containers is making 160 – 350 gallons IBC more preferable.
The petroleum and lubricants market is one of the dominating end users in the carbon steel IBC market. The petroleum and lubricants segment is anticipated to register a CAGR of 5.9% during the forecast period. The disadvantages of drums for lubricant transportation have made carbon steel IBCs popular in the petroleum industry. These IBCs are compensating for the disadvantages of drums, and becoming a more convenient option in logistics. These metal containers are also climate and age-resistant, thus it becomes more helpful to store lubricants in such IBCs. Carbon metal IBCs are economical and durable also. This makes petroleum a dominating industry in the carbon steel IBC market.
The petroleum and lubricant industry is the largest end use segment of metal containers since the containers are suitable for the transportation of such chemicals. OPEC countries are the leading producer of lubricants, and Venezuela holds the largest share among them. According to Organization of the Petroleum Exporting Countries (OPEC), Venezuela had a crude oil reserve of 303.97 Bn barrels in 2021. Also, the country accounts for 24.4% of the total crude oil reserves. The largest crude-oil producer is demanding carbon steel IBCs because of their chemical-friendly characteristics. The carbon steel IBC have become the most preferred option for lubricant transportation. That’s why the country is having substantial demand for carbon steel containers and is driving the carbon steel IBCs market.
Sweden is well-known for its innovative way of producing power from the garbage. The country is also importing garbage from other European countries to get more raw materials for its project. The importing of garbage needs to be in proper containers. For this purpose, the country is having first preference for metal IBCs in importing garbage from other countries. Sweden is providing direct heating to 950,000 households. With such a huge number of garbage collection, Sweden also needs containers to keep garbage. For this Swedish government is preferring metal IBCs since it is eco-friendly and protective against chemical reactions. That’s why Sweden is demanding carbon steel IBCs.
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The key players which are operating in the market are focusing on expansion and innovation. All of them are trying to capture a large market share. Big companies are focusing on USPs to increase sales. Companies are trying to provide good logistics facilities also to attract a mass customer base. Some of the innovations and expansions are as under-
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.4% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Units and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Discharge Type, Capacity, End Use, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa; Oceania |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Thielmann US LLC; Precision IBC, Inc.; Automationstechnik GmbH; Sharpsville Container Corporation; Hoover Ferguson Group; Snyder Industries Inc.; Custom Metalcraft Inc.; Metano IBC Services Inc.; Hawman Container Services; Syspal Ltd; Titan IBC; SCHÄFER Container Systems; CMS; Emiliana Serbatoi Srl; Isimsan Mechanical Engineering |
| Customization & Pricing | Available upon Request |
In 2021, the value of the global carbon steel IBC market was US$ 2.5 Bn.
During the forecast period, the global carbon steel IBC market is anticipated to expand at a CAGR of 5.4%.
The global Carbon Steel IBC market is expected to reach US$ 4.4 Bn by the end of 2032.
During the forecast period, 160-350 gallons capacity type is likely to be the fastest-growing capacity type segment in the global carbon steel IBC market.
The increasing preference for carbon steel IBC in the chemical industry is driving the demand for carbon steel IBCs.
Thielmann US LLC, Precision IBC, Inc., Automationstechnik GmbH, Sharpsville Container Corporation, Hoover Ferguson Group, Snyder Industries Inc., Custom Metalcraft Inc., Metano IBC Services Inc., Hawman Container Services, Syspal Ltd, Titan IBC, SCHÄFER Container Systems, CMS, Emiliana Serbatoi Srl, Isimsan Mechanical Engineering
As per the FMI analysis, the Indian carbon steel IBC market is projected to expand at a CAGR of 6.2% during 2022-32.
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