The global plastic rigid IBC market is estimated to register a CAGR of 4.9% during the forecast period. The global market is likely to predict a valuation of USD 5.9 billion in 2023 and reach up to USD 9.5 billion by 2033.
Increasing Demand for Bulk Packaging and Cost-effective Solutions Drive the Global Market
Several driving factors significantly drive the global market. Some of these driving factors are as follows:
| Attributes | Details |
|---|---|
| Plastic Rigid IBC Size, 2023 | USD 5.9 billion |
| Plastic Rigid IBC Market Size, 2033 | USD 9.5 billion |
| Value-based CAGR from 2023 to 2033 | 4.9% |
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Various factors restrain global market growth. A few of these factors are as follows:
The global market recorded remarkable historical growth, with a valuation of USD 5.6 billion in 2022. The increasing demand for storage of goods, liquids, and powders is raising the adoption of plastic rigid IBC. These IBCs are reducing the high cost of transportation. Plastic rigid IBCs are reusable containers that enhance the safety of goods. These are available in different shapes and sizes as per consumers' desire.
The plastic rigid IBCs can save nearly three-forth in storage and transportation works. The chemical, beverages, and other sectors are shifting their preferences towards plastic rigid IBC due to its durability and strength.
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| Countries | CAGR (2023 to 2033) |
|---|---|
| United States | 18.3% |
| Canada | 3.0% |
| Germany | 6.8% |
| United Kingdom | 3.3% |
| France | 4.5% |
| Italy | 4.8% |
| Spain | 4.0% |
| China | 13.9% |
| India | 5.3% |
| Japan | 4.1% |
| South Korea | 1.9% |
| Thailand | 2.1% |
China is estimated to secure a CAGR of 13.9% in the global market during the forecast period. China is influenced by several factors as follows:
The United States is anticipated to dominate the global market by capturing a CAGR of 18.3% by 2033. The United States plastic rigid IBC market is significantly driving the global market through various aspects, including:
Germany is anticipated to capture a CAGR of 6.8% in the global market during the forecast period. Several factors robust to the German plastic rigid IBC market are as follows:
Canada is likely to register a CAGR of 3.0% in the global market during the forecast period. The following drives are enhancing Canada's plastic rigid IBC market.
India is anticipated to secure a CAGR of 5.3% in the global market during the forecast period. A few factors are uplifting India’s plastic rigid IBC market.
Based on material type, the PP material segment is likely to lead the global market by securing a share of 71.6% in the global market by 2033. PP is an excellent material type with chemical resistance, such as bases, acids, and solvents. The demand for PP is widely increasing due to its durability in harsh environmental conditions, and various industries popularly adopt it.
| Top Segment | PP Material |
|---|---|
| CAGR (2023 to 2033) | 71.6% |
PP has relatively low costs, and end users are surging its usage due to affordability, which is expanding the market reach. Due to its lightweight and thermal stability, end users, such as the automotive and packaging sector, are increasing its adoption. PP can easily be modified through advanced manufacturing techniques such as extrusion and blow molding, which are fueling the plastic rigid IBC market share.
Based on end use, the chemical sector is estimated to dominate the global market by capturing a share of 26.5% during the forecast period. The chemical industry is a huge sector that offers intermediates, raw materials, and other materials that are advancing market growth.
| Top Segment | Chemical Sector |
|---|---|
| CAGR (2023 to 2033) | 26.5% |
The chemical industry is a fundamental sector due to its wide range as compared to the automotive and construction sectors. The growing innovations and research activities are developing improved chemical compounds, processes, and materials to expand plastic rigid IBC market growth.
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The global market is highly competitive because of prominent vendors globally. These prominent vendors are developing advanced and improved products by investing their million-dollar amount in research activities. They are carrying new ideas to expand their global reach.
Key players are the backbone that uplifts the global market through their innovations and marketing tactics. They are adopting various marketing methodologies such as mergers, agreements, collaborations, partnerships, and product launches.
Recent Developments in the Plastic Rigid IBC Market
The plastic rigid IBC market is estimated to secure a valuation of USD 9.5 billion in 2023.
The United States is the fast-growing market for plastic rigid IBC.
The plastic rigid IBC market is likely to capture a CAGR of 4.9% in 2023.
The growing focus is on sustainable, reliable, and durable packaging solutions.
RIKUTEC Group, Snyder Industries, and ACO Container Systems are the key players in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 5.1. HDPE 5.2. LDPE 5.3. LLDPE 5.4. PP 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity 6.1. Up to 500 Liters 6.2. 501-1000 Liters 6.3. 1001-2000 Liters 6.4. Above 2000 Liters 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Industrial Chemicals 7.2. Petroleum & Lubricants 7.3. Paints, Inks & Dyes 7.4. Food & Beverages 7.5. Building & Construction 7.6. Pharmaceuticals 7.7. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (USD Million) & Volume (Units) Trend Analysis By 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Greif Inc. 18.2. Mauser Packaging Solutions 18.3. Schütz GmbH & Co. KGaA 18.4. Schoeller Allibert Services B.V. 18.5. Elkhart Plastics (Myers Industries, Inc.) 18.6. RIKUTEC Group 18.7. Snyder Industries 18.8. ACO Container Systems 18.9. Core Plastech International Inc. 18.10. CL Smith 18.11. Auer Packaging 18.12. Time Technoplast Ltd. 18.13. Pyramid IBC Containers 18.14. Bison IBC Ltd. 18.15. MaschioPack GmbH 18.16. TranPak Inc. 18.17. FACH-PAK Sp. z o.o. 18.18. Horen Group 19. Assumptions & Acronyms Used 20. Research Methodology
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Plastic Rigid IBC Market
