Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 with a 4.8% CAGR

The folding intermediate bulk containers (IBCs) market is on a growth trajectory, with an estimated value of US$ 418 million in 2022, projected to reach US$ 528 million by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 4.8%. Remarkably, the China folding IBCs market defied initial pandemic-related skepticism and is anticipated to grow by 6.9% year on year in 2022. Despite global challenges, China's folding IBCs market is poised to contribute significantly, with an estimated revenue of US$ 50 million in 2022.

Chemicals and petrochemical products segments play a substantial role in the folding IBCs market, jointly generating a revenue of US$ 243 million in 2022, according to Future Market Insights' annual market analysis. While folding IBCs account for 2% of the overall IBCs market, valued at US$ 21 billion in 2021, the future trajectory of this specialized segment is influenced by a range of industry factors, including economically viable solutions for transporting substantial liquid quantities.

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Recent market innovations, such as foldable features and the eco-friendly nature of containers, are anticipated to drive further growth in the folding IBC market. Schoeller Allibert's introduction of a foldable large containers series, including the tallest version in the trend, underscores this trend.

An analysis by Future Market Insights projects a decline of 30 basis share points (BPS) in the folding IBC market during H1-2022 compared to H1-2021. However, when comparing the projected and actual H1-2022 outlook period, a decline of 20 BPS change is observed. This fluidity highlights the market's responsiveness to various factors and its evolving nature.

Segmental Analysis:

*Based on material, plastic material leads in terms of market size, with an expected market size of over US$ 430 Mn by the end of 2028. However, metal material for folding IBCs is expected to witness faster demand in the coming years. Metal is expected to lead in terms of CAGR with 5.1% during the forecast period.
*On the basis of capacity, 500-1000 L capacity has the highest expected market share US$ 240 Mn by the end of 2027. In terms of CAGR, 1000-1500 L dominates the global market.
*Based on packaging content, liquid segment is way ahead solid and semi-solids segment with a market share of over US$ 400 Mn by the end of 2028. However, solid and semi-solid segment is expected to reflect a higher growth rate of over 5.1% during the forecast period.
*Among the various application areas of folding IBCs automotive and mechanical part is expected to witness the fastest growth during the forecast period. However, chemicals segment is the dominating segment in terms of market size and is also not much behind mechanical segment in terms of growth rate.

Based on region, APEJ is expected to reflect highest market share among all the major regions, with the highest demand for Folding IBCs by the end of the year of assessment

Competitive Landscape

The key manufacturers operating in folding IBCs market are focusing on increasing their production capacity to meet the increasing demand for folding IBCs. Moreover, the key players are increasing their product portfolio to cater for the growing folding IBCs market.

In 2021, a company known as BP Polymers has introduced Kortrax® Barrier Resin, for Baritainer® drums, jerry cans, intermediate bulk containers (IBC) and HDPE plastic bottles.

In 2020, Schoeller Allibert's company has designed a foldable IBCs for international logistics and to meet the latest expectations of the pharmaceutical, cosmetics, and food processing industries.

In 2020, a company named Mondi plc., is advancing its product portfolio in its plant situated in Styria (Austria) to further boost its ability to offer liners that are environment-friendly for intermediate bulk containers.

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Competitive Landscape

There are a lot of companies in the global folding IBCs market that are considered to be great performers and also the key players of the market. Some of these key players that are mentioned in the report are

Finncont Oy,
Bulk Handling Australia Group Pty Ltd,
R. Arena Products Inc.,
TranPak Inc.,
Brambles Group,
ORBIS Corp.,
Dalian CIMC Logistics Equipment Co., Ltd.,
TPS Rental Systems Ltd,
Milford IBC,
RPP Containers etc.

Folding IBCs Market by Category

By Material:

Metal Folding IBCs
Carbon Steel Folding IBCs
Stainless Steel Folding IBCs
Plastic Folding IBCs

By Capacity:

Up to 500 L
501 to 1,000 L
1,001 to 1,500 L
Above 1,500 L

By Application:

Chemicals
Hazardous
Non-Hazardous
Petrochemical Products
Paints, Inks, & Dye
Food & Beverage
Automotive & Mechanical Parts
Cosmetic & Toiletries
Others

By Packaging Content:

Liquid
Solid & Semisolid

By Region:

North America
Latin America
Eastern Europe
Western Europe
Asia Pacific excl. Japan
Middle East and Africa (MEA)
Japan

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Report Objectives:

*To analyze and forecast the global Folding IBCs market size in terms of value and volume
*To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
*To define, describe, and forecast the market by type, material, and application
*To forecast the market size with respect to five main regions: Asia Pacific (APAC), the Middle East & Africa, Europe, North America, and South America
*To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
*To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing market growth
*To strategically profile the key players and comprehensively analyze their market shares and core competencies
*To analyze competitive developments in the market, such as investments & expansions, new product developments, partnerships & collaborations, and mergers & acquisitions

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This release was published on openPR.