Future Analysis of Industrial Packaging Market Poised to Achieve CAGR of 7.4% by 2026 | Global Key Manufacturers - Mondi PLC, Amcor Limited, Grief, Westrock Company, Mauser Group, International Paper Company, Wuxi Sifang Drums Limited Company

Global Industrial Packaging Market Overview
Global Industrial Packaging Market is accounted for $50.36 billion in 2017 and is expected to reach $95.63 billion by 2026 growing at a CAGR of 7.4% during the forecast period. Huge demand from the food & beverage packaging industry, increasing demand for packaging in major Asian Markets such as China and India and growing usage of high-value containers are some of the key driving factors for the market growth. However, strict rules & regulations and recycling & environmental concerns are some of the factors hindering the market growth. Moreover, increasing business related industries such as construction and electronics, chemical and pharmaceutical sector provides ample of opportunities for the market growth in the near future.

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Industry Insights:
Industrial packaging is used to package a product during or after the manufacturing process. It is driven by increased worldwide trade demands for product safety and growing globalization is supporting the industry growth. This permits the manufacturers to give easier distribution and decrease transportation losses happened by the damage during the protective wrapping. The series of process involved in industrial packaging consists of raw material suppliers, transport providers, end-product manufacturers, packaging waste contractors and recycling service providers.

Industry Top Players:
Some of the key players profiled in the Industrial Packaging Market include Mondi PLC, Amcor Limited, Grief, Inc., Westrock Company, Mauser Group, International Paper Company, Wuxi Sifang Drums Limited Company, Bemis Company, Inc., Orora Limited, Sigma Plastics Group, Tekni-Films, Inc., Smurfit Kappa Group, Sealed Air Corporation, B.A.G. Corp., Nefab Group, RDA Bulk Packaging and Cascades Inc.

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Market Segmentation:
By material, Plastics have been highly favoured the market over the past few years. It is easier to mould into specific shapes, gives a robust package covering for fragile contents, last much longer than other resources and can therefore be reused, and are cheaper than the other materials.

By geography, Asia Pacific is anticipated to be the largest market and may witness remarkable growth and over the forecast period. The growth in the Asia Pacific region is primarily driven by the increasing industrialization and urbanization, rising consumer spending and changing lifestyle. North America is expected to be the fastest contributor in the market owing to expanded economy, transport and delivery infrastructures.

Products Covered:
• Intermediate Bulk Containers (IBCs)
• Crates/Totes
• Drums
• Sacks
• Pails
• Bulk Boxes
• Other Products

Packagings Covered:
• Flexible
• Rigid

Applications Covered:
• Food & Beverages
• Chemical & Pharmaceuticals

Agriculture & Horticulture
• Building & Construction
• Oil & Lubricants
• Automobile
• Electronics
• Tobacco
• Personal Care
• Engineering
• Other Applications

Regions Covered:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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This release was published on openPR.