Rigid Intermediate Bulk Container Packaging Market size and forecast, 2016-2026
Rigid intermediate bulk container, also known as pallet tank is a reusable industrial container modelled for the storage and transport of granulated substances or bulk liquids including chemicals, solvents, food ingredients, pharmaceuticals etc. These containers are mainly designed to be moved using a pallet jack or a forklift and are mostly cubical in shape. Rigid intermediate bulk containers are mounted on a pallet in a stack and thus are called stackable containers. Rigid intermediate bulk containers are covered by a rigid case, mostly made of galvanized iron or steel, to ensure safety and durability, hence the name. Moreover, when compared to cylindrical-shaped containers, rigid 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. Rigid intermediate bulk containers are made of various materials including plastic, fiberboard, wood, metal etc. Furthermore, most of the rigid intermediate bulk containers possess a built-in faucet/tap at the base of the container through which the liquid content can be withdrawn into smaller containers by attaching hoses/pipes. Rigid intermediate bulk containers are used to ship and store commodities and raw materials, bulk chemicals and hazardous materials, petrochemical products, food syrups etc.
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Global Rigid Intermediate Bulk Container Packaging Market: Segmentation
The global rigid intermediate bulk containers packaging market can be segmented on the basis of material type and application. On the basis of material type, the global rigid intermediate bulk containers packaging market can be segmented into plastic, paper (fiberboard), wood and metal. On the basis of application, the global rigid intermediate bulk containers packaging market can be segmented into food & beverages, chemicals, pharmaceuticals and others. Among material type, plastic is most often used in storing and transporting food and beverages and chemicals due to its cost effectiveness and durability along with flimsiness. Considering application, food and beverages segment is expected to witness a significant growth followed by chemicals and solvents.
Global Rigid Intermediate Bulk Container Packaging Market: Dynamics
Cost-effectiveness and higher operational performance are some key factors driving the demand for rigid intermediate bulk containers thus in turn fuelling the growth of the overall global rigid intermediate bulk containers packaging market. Moreover, expansion of commodity trade especially in developing regions is expected to spur the demand for rigid intermediate bulk containers in the global rigid intermediate bulk containers packaging market. Urbanization and increase in international trade are the key factors driving the growth of the global rigid intermediate bulk containers packaging market. Rigid intermediate bulk containers is expected to witness a benefit from a rebound in chemical production as well as performance advantages over single-use, shorter-lived or smaller packaging. However, lack of consumer awareness and higher initial costs are two major factors hampering the growth of the global rigid intermediate bulk container packaging market. Furthermore, competition from flexible intermediate bulk containers, which are substantially less expensive than rigid intermediate bulk containers is another major factor restraining the growth of the global rigid intermediate bulk container market.
Global Rigid Intermediate Bulk Container Packaging Market: Region-wise Outlook
On the basis of region, the global rigid intermediate bulk container packaging market can be segmented into seven key regions including North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan. North America is expected to account for the maximum market share by the end of 2016 followed by Western Europe and Asia-Pacific. Asia-Pacific region is anticipated to witness the highest growth due to increase in globalization and industrial trade especially among the developing economies of the region such as India, China etc.
Global Rigid Intermediate Bulk Container Packaging Market: Key Players
The major players involved in the manufacture of rigid intermediate bulk containers are Berry Plastics, Brambles, Sonoco Products Company, WestRock, Greif Incorporated, Berenfield Containers Incorporated, BWAY Corporation, Koch Industries Incorporated, Weidenhammer Packungen among others.
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