Visiongain has launched a new report Industrial Packaging Market Report 2021-2031: Forecasts by Product (Drums, IBCs, Sacks, Crates, Pails, Corrugated Boxes, Others), by Material (Cardboard, Flexible Materials, Rigid Plastic, Metal, Glass, Others), by Application (Food & Beverages, Automotive, Pharmaceutical, Chemical, Oil & Lubricant, Building & Construction, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Industrial Packaging Companies AND COVID-19 Recovery Scenarios.
Global Industrial Packaging Market Outlook
According to Visiongain analysis, global Industrial Packaging market was valued at US$59 billion in 2020 and is projected to reach at a market value of US$96.76 billion by 2031. The Global market is expected to grow at a CAGR of 4.6% during the forecast period 2021-2031.
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Key Questions Answered by this Report:
How is the industrial packaging market evolving?
What is driving industrial packaging market dynamics?
What is restraining industrial packaging market dynamics?
What are the key opportunities for industrial packaging market?
How will each industrial packaging submarket segment grow over the forecast period and how much Sales will these submarkets account for in 2031?
How will market shares of each industrial packaging submarket develop from 2021-2031?
Which individual technologies will prevail and how will these shifts be responded to?
Which industrial packaging submarket will be the main driver of the overall market from 2021-2031?
How will political and regulatory factors influence industrial packaging markets and submarkets?
Will leading national industrial packaging markets broadly follow macroeconomic dynamics, or will individual country applications outperform the rest of the economy?
How will market shares of the national markets change by 2031 and which nation will lead the market in 2031?
Who are the leading players and what are their prospects over the forecast period?
How will the application evolve as alliances form during the period between 2021 and 2031?
Demand for Plastic Sacks Will Open New Opportunities. Find out why.
In recent years, the worldwide market for plastic bags and sacks has been steadily growing. Plastic bags and sacks are in high demand due to rising demand from different end-use industries such as groceries, food & beverage, consumer products, and clothing & apparel. Furthermore, retail establishments and companies prominently print their brand name on plastic bags and sacks, as well as promotional and marketing messaging. In the future years, the usage of plastic bags and sacks as a low-cost marketing technique is expected to boost demand for plastic bags and sacks.
Problems Associated with Renewable Plastic
The plastic recycling sector is still in its infancy, with tremendous jumps in progress in recent years in terms of recycling technology and trash recovery. Profit margins for recycling are shrinking, which poses a serious challenge to the recycling sector. The collapse of crude oil prices has resulted in the implosion of virgin plastic costs, and the high price of scraps is primarily to blame for shrinking recycler profits.
Another significant challenge to European recyclers is the region's increased reliance on plastic exports. Exports pose a significant logistical, economic, and demand-supply balance challenge to recyclers. Falling exports, in a sense, cause logistical problems, overstretch capacity limitations for collection systems, and drastically modify scrap prices owing to a supply-demand imbalance.
Discover sales predictions for the global Industrial Packaging market and submarkets
The industrial packaging market was led by the food and beverage category. The chemicals and pharmaceuticals segment are the market's second most appealing application. To store and ship the chemicals, a large number of steel drums and sturdy IBCs are necessary. Because of the growing elderly population and the rise in chronic diseases, the usage of industrial bulk packaging in pharmaceuticals has expanded.
Along with revenue prediction for the overall world market, there are 3 segmentations of the Industrial Packaging market, with forecasts for 6 Product, 5 Materials, 6 Applications, each forecasted at a global, and regional level along with COVID-19 impact recovery pattern analysis for all segments.
Who are the leading players analyzed in the market?
• Amcor Limited
• BAG Corp
• Berry Global Group
• Chem-Tainer Industries
• Composite Containers
• Cleveland Steel Container Corporation
• East India Drums & Barrels
• Intertape Polymer Group
• International Paper
• Myers Container
• Orora Packaging Australia
• Sonoco Products Company
• SCHÜTZ GmbH&Co
• Sealed Air
• Ven Pack
• WestRock Company
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