Intermediate Bulk Container Market To Increase at Steady Growth Rate

An intermediate bulk container is a large vessel that is used to store fluid and bulk materials and also used to transport them. An extensive growth in demand for ocean transportation viz. a viz. containers also resulted in increase of similar products and industries. Intermediate bulk container is a reusable industrial container and its main purpose is to protect large quantities of goods like food ingredients, solvents, pharmaceuticals etc. These cubical shaped containers are mainly designed to move other cans and containers using a pallet jack or a forklift. Moreover, when compared to cylindrical-shaped containers, intermediate bulk containers can transport supplementary materials in the similar footprint being cubical in shape and have a durable lifespan of more than 20 years. Intermediate bulk containers are made of various materials including plastic, fiberboard, wood, metal etc. Most of the intermediate bulk containers have a built-in faucet/tap at the base of the container through which the liquid content can be withdrawn into smaller containers by attaching hoses/pipes. Intermediate bulk containers are used to ship and store commodities and raw materials, bulk chemicals and hazardous materials, petrochemical products, food syrups etc.

Intermediate Bulk Container Market- Market Segmentation:

Global Intermediate Bulk Container market is segmented on the basis of container type, by materials type, and by end use. On the basis of container type the global intermediate bulk container market can be segmented as rigid containers and flexible bulk container. On the basis of materials type, intermediate bulk container market can be segmented into plastic, fiberboard, wood, aluminum and metal. On the basis of end use the global intermediate bulk container market can be segmented as food and beverages, healthcare, chemical, industrial goods and other industries (includes construction, fertilizers, and mining and minerals).

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Intermediate Bulk Container Market - Market Dynamics:

Growth in demand for intermediate bulk container is expected to grow strongly for several reasons. One of the major factors contributing towards the growth of intermediate bulk container market is, expanded use of larger, higher value containers that offer boosted performance and are more cost effective than smaller containers with shorter term service capability. Another aspect towards the growth of the intermediate bulk container market the reusability factor of the container. Another key factor of growing intermediate bulk container market is the business dependency on safety and sterilized shipping of products. Also expansion of commodity trade in developing nations is expected to fuel the demand of global intermediate bulk container market. On the other hand, the restraining factor towards the growth of the intermediate bulk container market is higher initial cost and lack of awareness among consumer.

Intermediate Bulk Container Market - Regional Outlook:

Geographically, the global Intermediate Bulk Container market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). The global intermediate bulk container market is expected to witness a stable CAGR over the forecast period of 2016-2024. Moreover, North America is expected to be the largest intermediate bulk container market in terms of intermediate bulk containers, due to the higher rate of exporting products and goods. Apart from this, the wide evolution of the container shipping and low freight rates is expected to boost further the sales of the intermediate bulk container market in Asia Pacific by the end of the forecast period of 2016-2024.

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Intermediate Bulk Container Market - Major Players:

Some of the major players identified across the globe in the intermediate bulk container market are Berry Plastics, Conitex Sonoco, Global-Pak, Greif Flexible Products & Services, Plastipak Group, Berenfield Containers Incorporated, BWAY Corporation, Koch Industries Incorporated, Weidenhammer Packungen, Bulk Lift International, Halsted, Intertape Polymer Group, J&HM Dickson, Jumbo Bag, Langston, LC Packaging.

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This release was published on openPR.