The Maturity of the Western European Market to Prevail
According to the study, the majority of Europe’s intermediate bulk containers demand relies on imports from South Asia. While Western Europe’s demand for intermediate bulk containers is on the brink of maturity, the impressively growing acceptance of non-plastic IBC alternatives is posing a significant impact on the growth of Eastern Europe’s intermediate bulk container market.
Holding a prominent position in the intermediate bulk containers export scene, South Asian countries – especially India, are projected for an impressive growth outlook in the global landscape over the course of coming years. Expanding manufacturing industries, rampant growth of the building & construction vertical, and strong presence of major F&B industry operators are favoring the demand growth of industrial bulk containers market within the region.
India, the world’s largest flexible intermediate bulk containers exporter, is poised for over 11% yearly growth in the revenue in 2019. China’s nearly US$ 1.4 billion market for intermediate bulk container also continues to demonstrate robust expansion, pushing prospects of East Asia further.
Intermediate bulk container manufacturers are likely to collaborate with shipping companies over the development of tracking-enabled intermediate bulk containers that update the precise status of packaged products directly to customers. A few prominent players currently involved in R&D of RFID enabled IBCs are Metano IBC Services, Inc., CHEP (U.S.A.) Inc., and Hoyer Group.
Driven by the rapid growth of small scale manufacturing sector worldwide, economic opportunities residing in renting, reconditioning, and refurbishing of RIBCs are projected to attract leading companies as well as retailers and distributors active in intermediate bulk containers market.
Industry giants such as Mondi Group, BP Polymers, Schoeller Allibert, and others continue to augment investments in IBC material innovations and new product launches in the intermediate bulk container market.
Reusable Packaging News
RPN