Plastic Rigid Intermediate Bulk Container: Market Size. From $2,448. 98 million in 2020, the global Plastic Rigid Intermediate Bulk Container market is projected to reach $4,600. 49 million by 2028.
New York, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Plastic Rigid Intermediate Bulk Container Market Analysis & Trends - Industry Forecast to 2028" - https://www.reportlinker.com/p06127652/?utm_source=GNW
Based on our analysis the market is expected to grow at a CAGR of 8.2% from 2020 - 2028 timeframe.
Some of the prominent trends that the market is witnessing include, advances in plastic rigid containers that provide anti-microbial environment, growing e-commerce sector, and increasing demand for plastic containers in food industry.
Global Plastic Rigid Intermediate Bulk Container Market: Market Dynamics
Cost-effectiveness of plastic rigid intermediate bulk containers is a major factor driving the growth of the global market. Moreover, expansion of commodity trade especially in developing regions is expected to fuel the demand for rigid intermediate bulk containers. Urbanization and increase in international trade are also contributing to the growth of the market.
However, lack of consumer awareness and higher initial costs are hampering the growth of the global rigid intermediate bulk container packaging market. In addition, increasing popularity of aesthetic packaging are expected to provide ample opportunities for the market.
Impact of COVID-19 on Plastic Rigid Intermediate Bulk Container
There has been a rising demand for plastic containers even after the pandemic spread around the world. Medicinal as well as food & beverages applications are contributing mainly to the demand for rigid IBC. Although the manufacturing facilities have faced some challenges related to global shut down, the market has several opportunities to benefit from the pandemic scenario.
By End User
Food & Beverages Segment Dominate the Market in 2020
Food & beverages segment is expected to dominate the market during the forecast period. The food and beverages industry is undergoing rapid developments. Owing to the growing demand for storage and transportation of bulk food products and various beverages across long distances from the manufacturing units, plastic rigid IBC is having huge demand from the food sector all over the world.
Asia Pacific Region is Leading in the Global Market Place
Asia Pacific is likely to have a huge demand in the forecast period. Notable growth in industrialization and various manufacturing activities are the major driving factors of the regional market growth. Major economies like China, Japan, India, and Singapore are contributing to the market growth in this region. Increasing need of transportation of various products is boosting the market in Asia Pacific.
List of the Key Players Profiled in the Market Include:
• Schutz Container Systems
• Snyder Industries, Inc
• Maschiopack GmbH
• Mauser Group
• Greif, Inc
• Bulk Handling Australia
• Time Technoplast Limited
• Myers Industries
• Pyramid Technoplast
• Sintex Industries
• Hoover Ferguson Group, Inc
• WERIT Kunststoffwerke W. Schneider GmbH & Co.KG
List of the Regions/Countries Profiled in the Market Include:
• Rest of Europe
• New Zealand
• Rest of Asia Pacific
• Saudi Arabia
• Rest of Middle East
• Rest of Latin America
Rest of the World (RoW)
• South Africa
Read the full report: https://www.reportlinker.com/p06127652/?utm_source=GNW
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