Industrial Packaging Market | by Product, Material & Application

According to a new report published by Allied Market Research, titled, Industrial Packaging Market by Product, Material, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global industrial packaging market was valued at $53,743 million in 2016, and is projected to reach at $69,787 million by 2023, registering a CAGR of 3.9% from 2017 to 2023. In 2016, the chemical & pharmaceutical segment accounted for approximately one-third share of the global market, in terms of revenue.

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Industrial Packaging Market by Product (Drums, IBCs, Sacks, Pails, and Crates/Totes), Material (Paperboard, Plastic, Metal, Wood, and Fiber), and Application (Chemical & Pharmaceutical, Building & Construction, Food & Beverage, Oil & Lubricant, Agriculture & Horticulture, and Others)

Industrial packaging is used to pack products during or after manufacturing. These packed goods are often heavy, bulky, sensitive to external atmosphere, and hazardous to environment, thus is necessary to conserve the product during storage and transit. Industrial packaging encompasses drums, intermediate bulk containers (IBCs), sacks, pails, crates, and totes, which are made of materials such as paperboard, plastic, metal, wood, and fiber.

Key Players

The key players operating in the global industrial packaging market are Grief, Inc., Mondi PLC., Amcor Limited, Westrock Company, International Paper Company, Bemis Company, Inc., Orora Limited, Mauser Group, Sigma Plastics Group, and Wuxi Sifang Drums Limited Company.

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Key Findings

Asia-Pacific is anticipated to grow at the highest CAGR, and is expected to maintain its dominant position in the market, in terms of value, during the forecast period, followed by Europe

The food & beverage segment is projected to grow at the highest CAGR of 4.4% during the forecast period.

The IBCs segment is expected to grow at the highest CAGR of 5.6%.

LAMEA accounted for approximately one-tenth share of the global market in 2016.

North America accounted for approximately two-sevenths share in the global market, and is expected to grow at a CAGR of 3.4% during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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