Folding Intermediate Bulk Containers (IBC) Market to Witness Steady Growth through 2027
An intermediate bulk container (IBCs) is a large container that is used for storing fluids in vast quantity for easy means of transportation. A widespread growth in demand for logistic, shipping and transportation has resulted in increase in supply of similar products. IBC is a reusable industrial container and is mainly used for protecting goods like food ingredients, pharmaceuticals, lubricant, chemicals, etc. But most of the packaging companies face the problem related to storage space when the IBC is empty. As a result of the problem, folding IBCs are manufactured which can be folded and are easily transported to any place without taking much space. When compared with cylindrical-shaped containers, folding IBCs can carry more amount of fluids with same space as required by cylindrical shaped containers. Folding IBCs can be easily repaired which can extend the lifetime of the container. Due to all these features of folding IBCs, these market is expected to fuel the demand over the forecast period 2017-2027.
Higher operational and cost efficient performance of folding IBCs are the key factors driving the growth of this market over the forecast period. In addition, the recyclability property and large storage capacity of folding IBCs are considered to be cost-effective solution for the customers. Furthermore, increase in international trade and urbanization are few of the key factors driving the growth of global folding IBCs market. Another factor which influences the market for folding IBCs is its prominence in the industrial packaging. .Reusability factor of the folding IBCs are another aspects which are creating demand for the market. Moreover, the restraining factor for the growth of the foldable IBCs market is the higher initial cost of the container and lack of awareness regarding the product among consumers. Another challenge for traditional IBCs and foldable IBCs is that they are not capable of carrying viscous products.
In November 2016, Horen Plastics Ltd. released new type of plastic foldable IBC which can store both food as well as non-dangerous chemicals. In 2016, Schoeller Allibert Spa launched new product Combolife foldable IBC which are lighter in weight as compared to the traditional IBCs and can store liquid food products, pharmaceutical products, chemicals, etc.
The folding IBCs can be segmented by the material type, by packaging type, and by end use industry. On the basis of material type, the global folding IBCs is segmented into: Plastic- Polyethylene (PE), Polypropylene (PP), Others; Metal: Aluminum, Steel; Wood, Others; On the basis of end use type, the global folding IBCs is segmented into: Food & beverages, Cosmetics, Pharmaceuticals, Chemicals, Others; The global folding IBCs market can be divided into seven major regions which are as follows: North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Japan, Middle East & Africa
The market for folding IBCs in North America is expected to witness the highest value share over the forecast period. Asia-Pacific region is estimated to have the highest growth for folding IBCs over the forecast period due to increase in per capita income of the emerging economies in these regions. The market in Europe is expected to have a steady growth for folding IBCs over the forecast period. Middle East & Africa and Latin America region are expected to witness above average growth throughout the forecast period for the folding IBCs market.
Few of the key players in folding IBCs are Schoeller Allibert Spa, Eredi Caimi s.r.l., Chep International Inc., Bulk Systems, Inc., Orbis Corporation, RPP Containers, Buckhorn Inc., a subsidiary of Myers Industries, Inc., Milford IBC UK Ltd, Kubikos Limited, SBH Solutions, HOREN Plastics Ltd., Uni-Packing Heavy-Duty Packing Technology Co., Ltd., Wuhao Industry & Trade Co., Ltd., Dalian Edo Int’l Trade Co., Ltd., etc.