Global Rigid Bulk Packaging Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 4.8 % through 2020 to 2026, reaching nearly US$ XX Mn. The global Rigid Bulk Packaging market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Rigid Bulk Packaging report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Rigid Bulk Packaging Market Overview:
Packaging has become an essential component of any product’s lifecycle, mostly because it protects and maintains a product from harm such as leakage, contamination, damage, and so on throughout transport, consumption, and storage. One of the primary concerns of sensitive product manufacturers is achieving the greatest level of product safety at all stages of the product lifecycle. Furthermore, sensitive items need rigid packaging. Rigid bulk packaging is typically used to package perishable goods such as food and drinks, pharmaceuticals, and chemicals. Rigid bulk packaging’s primary function is to safeguard these commodities from the point of manufacture to the point of distribution.
Global Rigid Bulk Packaging Market Dynamics:
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Over the forecast period, the increasing chemical, pharmaceutical, and food and beverage sectors around the world are projected to boost the growth of the rigid bulk packaging market. Furthermore, the growing demand for reusable bulk containers due to their cost-effectiveness when compared to smaller containers is projected to support market growth. Rapid urbanization and industrialization are also projected to drive the manufacturing and construction industries, particularly in many emerging nations, which is likely to enhance the production of different chemicals, therefore supporting the expansion of the rigid bulk packaging market. Furthermore, trade agreements between various nations across the world are projected to enhance imports and exports between these countries, therefore supporting market growth. Moreover, a rising preference for higher-value reusable containers, which are regarded as more cost-effective than smaller containers with limited shelf lives, is expected to drive demand for rigid bulk packaging throughout the projected period. Additionally, growing oil and gas output is projected to fuel the future need for rigid bulk packaging.
Since the materials used in rigid bulk packaging are declared hazardous, the United States regulatory body has imposed severe packaging rules. Furthermore, these agencies frequently limit the recyclability of materials used in packaging. These issues are very likely to limit demand for rigid bulk packaging throughout the projected period. Furthermore, rising competition from flexible packaging is expected to stifle the growth of rigid bulk packaging throughout the projected period.
Global Rigid Bulk Packaging Market Segment Analysis:
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Based on Material, plastic material is widely used for rigid bulk packaging in the market. High-density polyethylene and polypropylene are two common polymers used in the manufacture of rigid bulk packaging goods. High-density polyethylene is a kind of polyethylene that has numerous advantageous features such as a strong moisture barrier, high tensile strength, and great resistance to most solvents, among others, making it perfect for the manufacture of different rigid bulk packaging items. Based on Product, the intermediate bulk container segment is expected to witness the highest growth in the market. IBCs are primarily used for material storage and handling in the oil and gas, chemical, and petrochemical industries. Furthermore, IBCs provide product safety and cost-effective packaging options, as well as contribute to lower total packaging costs due to features like numerous usages, high storage capacity, and compatibility with various industrial products. According to UK trade data, total goods exports in April 2019 totaled EUR 29.9 billion. This was a reduction of EUR 3.8 billion (11%) compared to the previous month, but an increase of EUR 1.8 billion (6.5%) compared to April 2018. Furthermore, growing demand for reusability and ecological packaging has prompted the use of returnable bulk containers, notably for exports. The demand for corrosion-resistant containers for the storage and handling of both hazardous and non-hazardous liquid uses has fueled the use of intermediate bulk containers in the chemicals, pharmaceutical, food and beverage, and oil and lubricants industries. Based on End User, the pharmaceutical segment is anticipated to grow at a CAGR of XX% during the forecast period. Factors such as rising chronic illness rates are projected to drive up demand for a variety of pharmaceutical goods. Furthermore, growing demand for medications, particularly in several emerging nations, is expected to help the overall growth of the pharmaceutical sector, boosting the rigid bulk packaging market.
Global Rigid Bulk Packaging Market, by Region
• North America • Europe • Asia Pacific • The Middle East and Africa • South America
Global Rigid Bulk Packaging Market Key Players
• Amcor PLC • Mondi PLC • Greif, Inc. • Nefab Packaging AB • SCHUTZ GmbH & Co. KGaA • Sonoco Products Company • The Cary Company • Taihua Group • Hoover Container Solutions • Cleveland Steel Container • Bulk-Pack, Inc. • BWAY Corporation • Core Plastech International, Inc. • Berry Global, Inc. • Snyder Industries • Other Key PlayersGet Request for Table of Contents: https://www.trendsmarketresearch.com/report/requesttoc/13592