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Emerging Growth Trends Driving Expansion in the Intermediate Bulk Container Market
Intermediate Bulk Container
Forecasted Growth and Market Size of the Intermediate Bulk Container Market
The intermediate bulk container market is projected to experience robust growth, reaching a valuation of $5.57 billion by 2029. This expansion corresponds to a compound annual growth rate (CAGR) of 9.8%. Several factors are fueling this growth, including a growing demand for streamlined logistics, heightened emphasis on sustainability, expansion within the chemical and petrochemical sectors, and the rise in global trade activities. Additionally, changing consumer preferences are influencing market dynamics. Important trends shaping the market during the forecast period include evolving global supply chain conditions, stringent regulatory compliance and safety standards, increased demand for adaptable packaging solutions, a push toward circular economy models, and shifts in materials used for packaging.
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Key Industry Players Leading the Intermediate Bulk Container Market
The intermediate bulk container market features several prominent companies that play a major role globally. Some of the leading organizations include Berry Global Group Inc., DS Smith plc, Mondi plc, Greif Flexible Products and Services, Brambles Limited, MAUSER Corporate GmbH, Myers Industries Inc., Time Technoplast Ltd., BWAY Corporation, LC Packaging International BV, Bulk Lift International LLC, Nefab Group, Hoover Ferguson Group Inc., Schuetz Container System Inc., Snyder Industries Inc., Plymouth Industries LLC, CorrPak Bulk Packaging Systems LLC, Global-Pak LLC, System Schafer Werke GmbH, Thermoflex LLC, Arlington Packaging Limited, Environmental Packaging Technologies Inc., Qingdao LAF Packaging Co. Ltd., Büscherhoff Spezialverpackung GmbH & Co. KG, RDA Bulk Packaging Ltd., Gaoqing Anthente Container Package Company Limited, Ven Pack, Heritage B B.V., and Schoeller Arca Systems Holding B.V.
Strategic Expansion Through Acquisitions in the Intermediate Bulk Container Market
In April 2023, Greif Inc., a US-based leader in industrial packaging, acquired Centurion Container LLC for $145 million. This move significantly enhances Greif's presence in North America, leveraging Centurion's well-established management team known for successfully expanding a comprehensive reconditioning network. The acquisition strengthens Greif's portfolio of reusable and sustainable packaging options, increasing its ownership stake in Centurion from 9% to 80%. Centurion Container LLC specializes in the manufacture of intermediate bulk containers and is based in the United States.
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Emerging Trends Reflecting Growth and Innovation in the Intermediate Bulk Container Industry
Leading companies in the intermediate bulk container space are investing heavily in new production facilities to meet rising demand for efficient and sustainable bulk packaging products. A production facility refers to a site that houses machinery, resources, and staff dedicated to large-scale manufacturing and assembly. For example, in September 2023, Greif Inc. opened a new manufacturing plant for intermediate bulk containers in Dilovasi, Turkey. This facility underlines Greif's strategic commitment to strengthening its global operations and enhancing service capabilities to customers in Turkey and neighboring regions.
Main Market Segments in the Global Intermediate Bulk Container Industry
This report divides the intermediate bulk container market into several key categories:
1) By Type:
- Low-Temperature Superconducting Magnetic Energy Storage
- High-Temperature Superconducting Magnetic Energy Storage
2) By Component:
- Superconducting Coils
- Cryogenic Cooling System
- Power Conditioning System
- Other Components
3) By Application:
- Power Systems
- Industrial Use
- Research Institutions
- Other Applications
Further Breakdown of Segments by Superconducting Magnetic Energy Storage Types
Within the low-temperature superconducting magnetic energy storage segment, subcategories include Niobium-Titanium (NbTi) based systems and other low-temperature superconducting systems. For the high-temperature superconducting magnetic energy storage segment, the report highlights Yttrium Barium Copper Oxide (YBCO) based systems alongside other high-temperature superconducting alternatives.
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