Plastic Rigid IBC Market - Forecasts from 2024 to 2029

The plastic rigid IBC market is evaluated at US$6.091 billion for the year 2022 growing at a CAGR of 5.79% reaching the market size of US$9.032 billion by the year 2029.

Market growth is predicted to be fueled by increased consumer awareness of IBC's benefits and extensive usage of the product across a variety of end-user industries throughout the forecast period. A rise in construction activities and advancements in the automotive sector is also expected to lead to a growing trend in market growth. The increasing demand for paints and coatings is a key market factor that is projected to have a positive effect on the plastic rigid IBC market growth.

Introduction:

IBC (Intermediate Bulk Container) containers made of hard plastic are frequently chosen for international shipping. Polyethylene (HDPE) is often rotationally moulded to a thickness of one-half inch for hard plastic IBCs. Because they are composed of plastic, which has no corrosion, the plastic rigid IBC is strong, reusable, and essentially corrosion-resistant. sectors including the chemical, food, beverage, pharmaceutical, paint, ink, and dye, petrochemical, and lubricant sectors, among others, heavily rely on plastic rigid IBC. The market for plastic rigid IBCs (intermediate bulk containers) is being driven by the use of rigid plastic containers due to their longevity and mechanical strength. Every business makes use of the packaging system for product mobility and transportation to protect finished goods from environmental harm and transportation-related deterioration. The plastic rigid IBC (intermediate bulk container) is widely used in the food and beverage sector since ready-to-eat food is in high demand due to consumers' busy lifestyles and has proven to be essential in mechanical strength during mobility. From the standpoint of environmental conservation, plastic rigid IBCs (intermediate containers) are also employed to store commodities. The improved shelf-life of the food item is achieved through a new advancement in rigid plastic packaging that shields food and drinks from antimicrobial contamination, moisture, and air packing. Therefore, increasing retail product demand, particularly in E-commerce, is anticipated to expand market possibilities for the plastic rigid IBC (intermediate containers) market. As both consumer products and industrial goods require transportation facilities to reach end users, growing rapid industrialization is the primary reason for the market to expand. The industrial sector is also developing as a result of an increase in production facilities brought on by increased demand and population. These elements have fueled the market expansion for plastic rigid intermediate bulk containers.

Drivers:

• Growing demand for bulk packaging is boosting market growth:Demand for plastic rigid IBC is soaring due to the expansion of end-use sectors including food and beverage, chemicals, agriculture, and pharmaceuticals. Large amounts of powders and liquids may be transported easily thanks to these packing options.
• Plastic rigid IBCs are cost-effective and durable and hence are in great demand:Stiff plastics are in high demand. IBC provides reliable, affordable solutions. Because of their recyclability and affordability in terms of packaging, they are gaining market share.
• Growing environmental awareness is propelling market growth:The use of plastic rigid IBC is expanding as environmental consequences are becoming a bigger issue. These packaging options reduce carbon footprints and promote sustainability since they use recyclable materials.
• Plastic rigid IBCs provide an efficient transportation option due to their stiffness:To safely store hazardous products for efficient transportation, manufacturers develop solid plastic IBCs. It contributes to greater efficiency and lower transportation costs.
• Growth in the chemical sector creating market opportunities:The need for plastic rigid IBC is rising significantly because of the continuously expanding chemical industry. The trends in the worldwide plastic rigid IBC market are being influenced by urbanization, improved packaging options, and expanding infrastructural development.
• Rising demand from expanding food and beverages sector:The demand for plastic rigid IBC is increasing as food and beverage makers concentrate on storing bulk food goods for travel. It encourages hygienic, healthy, and safe standards for food products.

Products offered by key companies:

• Plastic IBC Totes, Snyder Industries:IBC totes made by Snyder in their distinctive all-polyethylene designs are lightweight, robust, and anti-corrosion. These tote tanks are perfect for both toxic and non-hazardous liquid applications and are offered in a broad range of forms and sizes up to 550 gallons. Snyder's plastic IBCs possess some of the greatest useful-life-to-cost ratios in the market and are rotationally manufactured from HDPE with walls up to a half inch or thicker.
• Combo Excelsior Hybrid, Schoeller Allibert:The Combo Excelsior Hybrid is ideal for all tough industrial situations and may be stored outside for extended periods because of its UV-resistant material and few components. It has an improved bottom discharge zone that expedites the installation and removal of the liner and valve. During empty logistics and handling, a dust cover over the discharge zone guarantees maximum cleanliness. The lifespan may be extended by replacing every component.

The prominent growth in the PP material sector under the material type segment

Based on material type, the PP material segment is expected to dominate the Plastic rigid IBC market over the forecast period. PP (polypropylene) is a remarkable material type that resists chemicals like bases, acids, and solvents. Due to its resilience in adverse environmental circumstances and the widespread adoption of PP by numerous sectors, the demand for PP is steadily rising. Due to end customers' increased usage of PP (polypropylene) as a result of its affordability and comparatively low prices, the market's potential is being increased. End customers, including the automotive and packaging industries, are expanding their usage of it because of its lightweight and thermal resilience. Extrusion and blow moulding, two cutting-edge production processes that are boosting the plastic rigid IBC market share, make it simple to modify PP crease their user cases hence boosting market demand.

The North American region is expected to hold a significant share of the Plastic rigid IBC market:

The North American market is expected to expand exponentially throughout the predicted period. Demand, production capacity, regulations, and economic circumstances are just a few examples of the geographical elements that have an impact on the plastic rigid intermediate bulk container (IBC) market. Due to the region's sophisticated industrial infrastructure, growing emphasis on sustainability, and strict rules controlling the transportation and storage of hazardous commodities, North America has been a prominent market for plastic rigid IBCs.

Key developments:

• Mauser Packaging Solution, a packaging business with headquarters in Georgia, declared its expansion in 2022 with the introduction of an innovative product, the UN-rated IBC. The 2-layer bottle of the UN-rated Infinity Series IBC has a considerable portion of high-quality, naturally coloured recycled resin known as Recolene®. One of the company's six recycling facilities produces Recolene® on-site by shredding, washing, sorting by colour, and extruding a selection of empty industrial packaging that has been collected through the Mauser Packaging Solutions collection program.

SEGMENTS:

BY MATERIAL TYPE

• HDPE
• LDPE
• LLDPE
• PP

BY CAPACITY

• Up to 500 liters
• 500-1000 liters
• 1000-1500 liters
• 1500-2000 liters

BY End-Users

• Industrial and Chemicals
• Petroleum and Lubricants
• Food and Beverages
• Pharmaceutical
• Others

BY GEOGRAPHY

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others