Intermediate Bulk Container Industry Analysis in Korea

An In-depth Examination of Intermediate Bulk Container in Korea from 2023 to 2033

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%

Key Insights for Intermediate Bulk Container in Korea

• The application of intermediate bulk containers is prevalent across several significant industries in Korea. Industries such as chemicals, mining, and food & beverage rely on intermediate bulk containers for various purposes. Consequently, the demand for intermediate bulk containers in Korea is on the rise.
• Korea engages in both the import and export of intermediate bulk containers. While the pandemic momentarily disrupted trade, both import and export activities for intermediate bulk containers have now resumed to normal levels in Korea.
• As industrialization continues to surge in Korea, the demand for efficient packaging solutions is also experiencing an upswing. Intermediate bulk containers offer a convenient and flexible means of packaging, contributing to their growing popularity in Korea.

Key Trends for Intermediate Bulk Container in Korea

• Intermediate bulk containers not only serve a diverse range of industries but can also be used for a variety of materials. Solids, liquids, semi-solids, and pastes can all be stored and transported using intermediate bulk containers. This versatility makes the product popular in Korea as a preferred packaging material.
• Intermediate bulk containers have become a prominent choice for handling sensitive materials in Korea. Hazardous and flammable materials are transported and stored using these containers due to their sturdiness and reduced risk of spillage.
• Manufacturers of intermediate bulk containers are continuously innovating to meet the specific needs of companies in Korea. One notable innovation is the development of temperature-controlled intermediate bulk containers.
• The low cost of intermediate bulk containers produced in Korea is making the product highly attractive to manufacturers outside the country. Companies from the United States and Europe are importing intermediate bulk containers from Korea due to the cost-effectiveness of manufacturing.
• Counterfeit products pose a significant threat to the sale of intermediate bulk containers. Low-quality counterfeit items have a detrimental impact on the demand for genuine intermediate bulk containers. Additionally, reconditioned and rebottled intermediate bulk containers also contribute to the competition in the industry for new containers.

Category-wise Insights

Solid Attributes of Rigid Intermediate Bulk Containers Drive their Appeal in Korea

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 Container is Overwhelmingly Used for Handling Solid and Semi-solid Material

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.

Competitive Landscape

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

• At the Interpack Trade Fair in May 2023, Shashank Agarwal, president of the Indian Flexible Intermediate Bulk Container Association, announced the intention of Indian companies to make a dent in Korea.
• In March 2023, Mauser Packaging Solutions launched intermediate bulk containers made from recyclable material. The company aims to win manufacturers who are reluctant to use traditional plastic intermediate bulk containers.
• In October 2023, the Korean government lent support to the use of intermediate bulk containers in the food & beverage industry. The government is prepared to provide financial assistance to users of intermediate bulk containers in the food & beverage industry.

Some of the Key Players with Intermediate Bulk Container in Korea

• 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

Scope of the Report

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

Table of 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