Global Reconditioned IBC Market to Surge to US$ 8,015.4 million by 2032: 5.7% CAGR Fueled by Eco-Friendly Packaging Demand

According to Future Market Insights, the global reconditioned IBC (Intermediate Bulk Container) market attained a valuation of US$ 4,656.0 million in 2022 and it is expected to reach around US$ 8,015.4 million by 2032. Total reconditioned IBC demand in the global market is anticipated to surge at 5.7% CAGR throughout the forecast period (2022 to 2032).

Growing cross-border trade, rising focus towards sustainability, and growing demand for eco-friendly, convenient, and cost-effective packaging solutions across industries such as chemicals, food & beverage, oil & lubricants, and pharmaceuticals are a few prominent factors driving the global reconditioned IBC market forward.

Reconditioned IBCs have become ideal cost-effective packaging solutions for mass storage and transportation of liquid, semi-solid, and solid products. These packaging solutions are being increasingly utilized across diverse industries due to their environmental and economic advantages.

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Growing preference of industries towards using reconditioned IBCs over new ones to reduce packaging waste and save money is expected to boost the global reconditioned IBCs market during the assessment period.

Similarly, increasing government initiatives and regulations to reduce packaging waste, growing trend of customization, and rise in export of chemicals, pharmaceuticals, oils, lubricants, and several other commodities globally will boost reconditioned IBC sales.

Leading companies such as Mauser Packaging Solutions collect and clean IBCs from manufacturers and offer a variety of reconditioned IBCs for sale in different specifications and sizes. They are continuously striving in helping companies to achieve their sustainability goals.

Key Takeaways from the Reconditioned IBC Market Report

By material type, the metal IBCs segment is expected to hold around 0% share of the global market in 2022 and further expand at 6.3% CAGR through 2032.
Based on capacity, the standard segment is estimated to account for about 0% share of the global reconditioned IBC market in 2022.
By end use, the industrial chemical segment is anticipated to expand at 8% CAGR between 2022 and 2032, reaching a valuation of US 2893.6 million by 2032.
Europe will continue to dominate the global reconditioned IBC market, accounting for a share of about 6% in 2022.
With an estimated market share of around 4% in 2022, North America will hold the second dominant position in the global market.
South Asia reconditioned IBC market is forecast to progress at 1% CAGR during the forecast period.
The reconditioned IBC market in Germany is likely to expand at 2% CAGR through 2032.

"Increasing cross-border trade worldwide coupled with rising end user interest in adopting eco-friendly rigid packaging solutions is projected to boost the global reconditioned IBC market. To gain maximum profits, reconditioned IBC companies are offering cleaning services for IBCs as well as providing a wide range of reconditioned IBCs for sale," says a lead analyst at Future Market Insights.

Escalating environmental concerns over recycling / disposal of rigid bulk containers have led to new stringent regulations, thus compelling end users to recover their packaging solutions. Now, re-use of intermediate bulk containers with the previous waste / residues may lead to cross contamination. Hence, bulk industrial packaging manufacturers are out to provide reconditioning services. Reconditioned IBC under-go numerous process and are finally purified from all its previously left residues.

Reconditioned IBC Market: Dynamics

Across the globe, the declined rate to Waste rigid containers on the backdrop of rising inclination towards reconditioned services has
led to lower packaging waste. Lucrative growth opportunities in the industrial chemical packaging industry is expected to lead increased demand for reconditioned IBC and are expected to witness rising growth over the forecast period.

Reconditioned IBC Market: Company Developments and Industry Level Trends

Key market participants all across the globe that operate in the bulk industrial rigid  packaging market have focus towards collaboration / acquisition with regional as well as unorganized local players who provide reconditioning services.

In August 2018, General Steel Drum LLC ("GSD"), a family owned business announce the acquisition of Cleveland, Ohio based North Coast Container ("NCC") thus servicing the new steel drum, reconditioned drum & IBC needs of its respective customers. ACN is a recognized national player in the North American steel drum reconditioning industry. In 2010, The Mauser Group announced the takeover of the business of American Container Net, Inc. (ACN) along with its wholly owned subsidiary, Strawser Steel Drum of Ohio, Ltd. (SSD). Reconditioned IBC Market: Regional Outlook

The global reconditioned IBC market is segmented into seven regions, namely, Latin America, North America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA).

By the end of 2017, North America is expected to account for the largest market share in the global Reconditioned IBC market followed by Asia-Pacific and Western Europe. Asia-Pacific region comprising countries like India and China are anticipated to witness the highest growth due to increase in industrial trade and globalization especially among its developing economies.

Reconditioned IBC Market: Key Players

Some of the key players currently operating in the global Reconditioned IBC market are:

Mauser Group B.V.
Greif, Inc.
The Cary Company
Schutz Container Systems, Inc.
Recontainers Ltd.
Industrial Container Services, Inc.
Mitchell Container Services, Inc
General Steel Drum LLC
Rahway Steel Drum Co Inc.
Metal Drum Co Ltd/The
James G Carrick & Co Ltd
Izvar Ambalaj Sanayi VE Ticaret AS
Clouds Drums Dubai LLC
Skolnik Industries Inc.

The report on Reconditioned IBC is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, as well as inputs from industry experts and industry participants across the value chain. The Reconditioned IBC report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Reconditioned IBC report also maps the qualitative impact of various market factors on market segments and geographies.

Reconditioned IBC Market: Regional Analysis

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific excluding Japan (APEJ)
Japan
Middle East & Africa (MEA)

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Market Segmentation

*The global reconditioned IBC market can be segmented on the basis of material type into:

*Plastic Intermediate Bulk Containers
Composite Intermediate Bulk Containers

*The global Reconditioned IBC market can be segmented on the basis of size/capacity into:

*Reconditioned IBC with Capacity Up to 150 Gallons
150- 225 Gallons
225-300 Gallons
Capacity of 300 Gallons and above

# The global reconditioned IBC market can be segmented on the basis of reconditioning pattern into:

Rebottled IBC
Non-UN Approved Reconditioned IBC
UN Approved Reconditioned IBC
Washed IBC
Non-UN Approved Reconditioned IBC
UN Approved Reconditioned IBC

The global reconditioned IBC market can be segmented on the basis of end use industry served into:

Oils & Lubricants
Chemicals and solvents
Paints & Dyes
Pharmaceuticals Concentrates / Solutions
Food & Beverages Ingredients
Agriculture & Allied Industry (Fertilizers / Pesticides)
Building and Construction
Other Industrial End Use

Global Reconditioned IBC Market: Report Highlights:

*A detailed overview of parent market
Changing market dynamics in the Reconditioned IBC industry
*In-depth Reconditioned IBC market segmentation
Historical, current, and projected Reconditioned IBC market size regarding volume and value
*Recent Reconditioned IBC industry trends and developments
*Competitive landscape for Reconditioned IBC market.
*Strategies for key players for Reconditioned IBC market and products offered by them.
*Potential and niche segments, geographical regions exhibiting promising growth in the Reconditioned IBC market
*A neutral perspective on Reconditioned IBC market performance
*Must-have information for Reconditioned IBC market players to sustain and enhance their market footprint.

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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.