In the dynamic landscape of Korea's industrial sector, the demand for intermediate bulk containers is on a steady ascent. In 2023, it is projected to reach a noteworthy figure of USD 316.4 million, marking a substantial increase from the previous year's valuation of USD 299.3 million.
This upward trajectory is set to continue its ascent in Korea over the forecast period with a promising CAGR of 5.80%, surpassing USD 553.5 million by 2033.
| Attributes | Details |
|---|---|
| Industry size for Korea in 2023 | USD 316.4 million |
| Expected Industry Size for Korea by 2033 | USD 553.5 million |
| Forecasted CAGR between 2023 to 2033 | 5.80% |
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Rigid intermediate bulk container (RIBC) is the prevalent product type in Korea. In 2023, RIBC is expected to account for 75.80% of the industry share by product type.
| Demand for Intermediate Bulk Container in Korea Based on Product Type | RIBC |
|---|---|
| Industry Share in 2023 | 75.80% |
RIBC provides durability to packaging. Made from materials like plastic and metal, RIBC is optimal for long-distance transport, as the toughness of the material prevents spillage and wastage of the products inside. Thus, RIBC is the dominant product type in Korea.
Intermediate bulk containers prominently feature solid and semi-solid material as content. In 2023, solid and semi-solid content is expected to contribute a whopping 90.40% of the industry share.
| Demand for Intermediate Bulk Container in Korea Based on Content | Solid and Semi-solid |
|---|---|
| Industry Share in 2023 | 90.40% |
With the rise of various industries like healthcare, food & beverage, and agriculture in Korea, there is a pronounced demand for containers to handle solid and semi-solid materials. Intermediate bulk containers have proven to be up to the task of handling, storing, and transporting solid and semi-solid material in Korea.
Owing to the large volumes of imports and exports, there is a plethora of players in Korea, both local and international. Korean exports have become popular due to their competitive pricing, leading local players to strive for products that meet international standards.
Conversely, international brands are also looking to make headway in Korea. The intermediate bulk container industry in Korea is thus poised for the entry of various international brands
Recent Developments Observed in Intermediate Bulk Container in Korea
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | USD 316.4 million |
| Projected Industry Size by 2033 | USD 553.5 million |
| Anticipated CAGR between 2023 to 2033 | 5.80% CAGR |
| Historical Analysis of Demand for Intermediate Bulk Container in Korea | 2018 to 2022 |
| Demand Forecast for Intermediate Bulk Container in Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Key Insights for Intermediate Bulk Container in Korea, Insights on Global Players and Leading Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers |
| Key Companies Profiled | Grief Inc; Thielmann US LLC; Schafer Werke Gmbh; Time Technoplast Ltd; International Paper Company; DS Smith Plc; Mondi Plc; SCHÜTZ GmbH & Co. KGaA; Mauser Packaging Solutions; Berry Global, Inc; Hoover Ferguson Group; Snyder Industries, Inc; Bulk Lift International, Inc; HCS Group; Transtainer; Obal Centrum s.r.o; Pensteel Ltd; SYSPAL Ltd; SIA Flexitanks Limited; Intertape Polymer Group; Conitex Sonoco; United Bags Inc; Rishi FIBC Solutions PVT. LTD.; Nier Systems Inc; Composite Containers LLC; Bulk Pack Inc; JohnPac LLC; Bag Corp; Palmetto Industries International Inc; IG Industrial Plastic LLC |
| Key Cities Profiled | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
The industry size of intermediate bulk container in Korea is valued at USD 316.4 million in 2023.
The intermediate bulk container industry is forecasted to develop at a CAGR of 5.80% in Korea through 2033.
The industry size for intermediate bulk container is forecasted to reach USD 553.5 million in Korea by 2033.
Rigid intermediate bulk container (RIBC) is the preferred product type in Korea.
In Korea, intermediate bulk containers are primarily used for handling solid and semi-solid content.
1. Executive Summary 2. Market Overview 3. Market Background 4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. RIBC 5.2. FIBC 6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Material Type 6.1. Metal & Paperboard 6.2. Plastic 7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Content 7.1. Liquid 7.2. Solid & Semi-solid 8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Capacity 8.1. RIBC 8.1.1. Up to 1,000 Ltr. 8.1.2. 1,001 - 1,500 Ltr. 8.1.3. Above 1,500 Ltr. 8.2. FIBC 8.2.1. Up to 500 Kg 8.2.2. 501 to 1,000 Kg 8.2.3. 1,001 to 1,500 Kg 8.2.4. Above 1,500 Kg 9. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End Use 9.1. RIBC 9.1.1. Chemicals 9.1.2. Petroleum & Lubricants 9.1.3. Paints, Inks & Dyes 9.1.4. Food & Beverages 9.1.5. Cosmetics & Personal Care 9.1.6. Healthcare & Pharmaceuticals 9.1.7. Others 9.2. FIBC 9.2.1. Chemicals & Fertilizers 9.2.2. Food & Agriculture 9.2.3. Building & Construction 9.2.4. Healthcare & Pharmaceuticals 9.2.5. Mining 9.2.6. Others 10. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. South Gyeongsang 10.2. North Jeolla 10.3. South Jeolla 10.4. Jeju 10.5. Rest of Korea 11. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 12. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 13. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 14. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 15. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 16. Market Structure Analysis 17. Competition Analysis 17.1. Korea Flecon Co., Ltd 17.2. jeil industry co. ltd 17.3. Mauser Packaging Solutions 17.4. Berry Global, Inc 17.5. Hoover Ferguson Group 17.6. Snyder Industries, Inc 17.7. Bulk Lift International, Inc 17.8. HCS Group 17.9. Transtainer 17.10. Obal Centrum s.r.o 17.11. Pensteel Ltd 17.12. SYSPAL Ltd 18. Assumptions & Acronyms Used 19. Research Methodology
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Intermediate Bulk Container Industry Analysis in Korea
