IBC Rental Business Market Size, Share, Sales Analysis & Opportunity | FMI

The market for IBC rentals is anticipated to reach US$ 1,790.0 Mn by 2029, at a projected CAGR of 5.7% from US$ 1,218.0 Mn in 2022. According to FMI, the IBC rental industry market will generate US$1,218.0 Mn in total revenue in 2022.

By the end of 2029, it's anticipated that the market for IBC rentals as a whole will have increased by 1.6 times its current value. The top 5 suppliers will control 45-50% of the IBC rental industry market in 2022, driving up demand for IBC rental services. Global revenues for the IBC rental business increased by 5.4% in 2022 compared to the previous year.

Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-10339

Europe to Remain as Dominating Market Region throughout the Forecast Period

The IBC rental business is closely related to the export activities and manufacturing of chemical and value-added products of different countries. The domestic production of end user in different regions are estimated to be a key factor in analyzing the leading end-use industries for the IBC rental services. Europe is expected to dominate the regional market in terms of demand, owing to its established export business.

In 2018, Europe contributed nearly 40% of the total global export of chemical products. The Benelux and Germany are estimated to account cumulatively 1/3 of market share in the European IBC rental business. South Asia is anticipated to witness a fast-paced growth, owing to government policies to increase the export of chemical products from ASEAN regions and India.

Temperature-controlled IBCs to Gain Traction in Coming Years

The global market of IBC rental business has been segmented in terms of material type, product type, content, capacity, end use, and regions. The regions are segmented into North America, Latin America, Europe, East Asia, South Asia, and Middle East & Africa.

By product type, carbon steel IBC is generally preferred in the IBC rental business. In terms of value, stainless steel IBC is estimated to be the leading product in the market. The reusability and secure handling of hazardous and flammable products are critical features, due to which steel IBCs are highly used in IBC rental business.
By content, shipping and storing of liquid are the main applications of rental IBCs. The higher safety, filling, and dispensing offered by IBCs are expected to prove itself as great packaging formant for industrial products packaging.
By capacity type, the IBCs with the capacity of 1,001-1,500 liters are estimated to be prominent in the global IBC rental business, owing to the specific standard size mentioned by regulatory authorities.
By end use, the industrial chemicals segment is leading for IBC rental business. The food & beverages segment is projected to be an emerging segment for IBC rental business, due to estimated increment in export volume based on previous five-year trade.
Ask an Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-10339

Competitive Landscape

Leading service providers and manufacturers dealing in the global IBC rental business market are adopting key market strategies such as expansion, product development and others to compete and maximize its sales in the market. Manufacturers and service providers operating in the IBC rental business market are also focusing on innovation and development to lure a major portion of the industry players in the market.

For instance, In 2020, Hoover Ferguson Group, one of the leaders in the IBC rental business market has announced that Company is expanding its range of wine and distillery IBC's into the Australian and New Zealand.
In 2020, the same company was announced as the Environmental Leader Product of the Year winner for their Liquitote® stainless steel Intermediate bulk container.
Key Companies Profiled

Brambles Ltd
Hoover Ferguson Group
HOYER GmbH
Envirotainer AB
Goodpack Ltd
TPS Rental Systems Ltd
CMO Enterprises, Inc
Americold Realty Trust, Inc
Hawman Container Services
SCHÄFER Werke GmbH
Metano IBC Services, Inc
Mitchell Container Services Inc
IBC Rental Business Market By Category

By Material:

Carbon Steel
Stainless Steel
Plastic
By Product:

Flexitanks
Stainless Steel IBC
Carbon Steel IBC
Plastic IBC
Composite IBC
By Content:

Liquids
Solids & Semi-solids
By Capacity:

Upto 1000 liters
1001-1500 liters
1501-2000 liters
Above 2000 liters
By End Use:

Industrial Chemicals
Petroleum & Lubricants
Paints, Inks & Dyes
Food & Beverages
Personal Care & Cosmetics
Synthetic & Natural Rubber
Tires & Auto Components
Pharmaceuticals
Others

Contact Us:
Future Market Insights Inc.   
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA   
T: +1-845-579-5705   
For Sales Enquiries: sales@futuremarketinsights.com     
Browse Latest Market reports: https://www.futuremarketinsights.com/reports

About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

This release was published on openPR.