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Key Strategic Developments and Emerging Changes Shaping the Plastic Processing Auxiliary Equipment Market
Plastic Processing Auxiliary Equipment Market
Plastic Processing Auxiliary Equipment Market Size and Growth Outlook
The plastic processing auxiliary equipment market is projected to reach $9.21 billion by 2030, growing at a compound annual growth rate of 4.7%. This growth is fueled by rising investments in automated plastic processing facilities and the increasing demand for lightweight plastic parts. Additionally, the food and pharmaceutical packaging sectors are expanding rapidly, which further supports market development. Technological progress in automation of auxiliary equipment and the adoption of sustainable plastic processing methods are also significant contributors to this growth. Emerging trends during the forecast period include a surge in integrated auxiliary equipment solutions, wider use of automated material handling systems, rising preference for energy-efficient drying and heat transfer devices, greater incorporation of plastic processing robots on production lines, and stronger emphasis on material consistency and process reliability.
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Prominent Companies Leading the Intermediate Bulk Container Market
Several well-established firms dominate the intermediate bulk container sector, including 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.
Recent Major Acquisition Highlighting Market Dynamics
In April 2023, US-based industrial packaging firm Greif Inc. acquired Centurion Container LLC for $145 million. This strategic purchase not only enhances Greif's presence in North America but also leverages Centurion's successful management team, known for expanding an extensive reconditioning network. The acquisition significantly increases Greif's ownership stake in Centurion from 9% to 80%, strengthening its portfolio of reusable and sustainable packaging solutions. Centurion Container LLC specializes in manufacturing intermediate bulk containers in the United States.
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Key Trends Shaping the Intermediate Bulk Container Market Going Forward
Leading companies in the intermediate bulk container market are increasingly embracing strategic partnerships to deliver innovative and comprehensive packaging solutions. These collaborations allow firms to share expertise and resources, benefiting all parties involved. For example, in June 2023, BASF, a German chemical manufacturer, teamed up with THIELMANN, a German stainless steel container producer, and NXTGN Solutions GmbH, a digital transformation service provider based in Germany. Their joint initiative aims to develop and promote advanced IBC tracking technologies that combine acoustic signal analysis with IoT-connected sensors. This patented solution monitors key container metrics such as location, fill level, shock load, temperature, and contamination, offering logistics operators real-time data through an online dashboard. These insights empower more effective fleet management, leading to cost savings and operational optimization.
Detailed Market Segmentation of the Intermediate Bulk Container Industry
The intermediate bulk container market is broadly divided into the following segments:
1) By Type: Rigid IBC and Flexible IBC
2) By Material: Plastic and Metal
3) By End-User: Chemical, Pharmaceutical, Food and Beverage, and Other End-Users
Further subdivisions include:
- Rigid IBC categories such as Polyethylene IBC, Steel IBC, Aluminum IBC, and Composite IBC
- Flexible IBC options including FIBC (Flexible Intermediate Bulk Containers), Bag-in-Box IBC, and Pillow IBC
These segments help provide a comprehensive understanding of the market's structure and the various applications served by different container types and materials.
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