In the future years, there will be significant increase in the market for flexible intermediate bulk containers (IBCs), which are a subset of folding IBCs. With a compound annual growth rate (CAGR) of 4.8%, it is anticipated to achieve a value of US$418 million by 2022 and to increase to US$528 million by 2027.
This growth can be ascribed to a number of things, including the benefits that folding IBCs provide, the rising need for eco-friendly packaging options, and the developing e-commerce sector.
Folding IBCs are perfect for transporting and storing bulk liquids and granular materials since they are built to be cost- and space-effective. When empty, they can fold inward to save a lot of space for storage or return transportation. Furthermore, they are practical for a variety of industrial applications due to their stackability and forklift compatibility.
The folding IBC market is currently dominated by North America and Europe since these regions have many well-established producers and a significant demand for environmentally friendly packaging options. The market for folding IBCs is anticipated to expand at the fastest rate in the Asia Pacific region. This expansion can be linked to the rising need for folding IBCs in sectors like chemicals and food & beverages, which is being driven by the quick industrialization and economic development in the region.
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Key Takeaways:
- The folding IBC market is projected to reach US$528 million by 2027, with a CAGR of 4.8%.
- Folding IBCs offer benefits such as space efficiency, cost savings, and environmental sustainability.
- North America and Europe are currently the largest markets for folding IBCs, while the Asia Pacific region is expected to experience the highest growth.
- The growth of the folding IBC market is driven by the demand for sustainable packaging solutions and the expanding e-commerce industry.
- Manufacturers in the folding IBC market are focusing on innovation and product development to meet evolving customer needs.
Competitive Landscape
The key manufacturers operating in folding IBCs market are focusing on increasing their production capacity to meet the increasing demand for folding IBCs. Moreover, the key players are increasing their product portfolio to cater for the growing folding IBCs market.
- In 2021, a company known as BP Polymers has introduced Kortrax® Barrier Resin, for Baritainer® drums, jerry cans, intermediate bulk containers (IBC) and HDPE plastic bottles.
- In 2020, Schoeller Allibert’s company has designed a foldable IBCs for international logistics and to meet the latest expectations of the pharmaceutical, cosmetics, and food processing industries.
- In 2020, a company named Mondi plc., is advancing its product portfolio in its plant situated in Styria (Austria) to further boost its ability to offer liners that are environment-friendly for intermediate bulk containers.
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Key Players:
- Schoeller Allibert Group B.V.
- Ac Buckhorn LLC
- Finncont Oy
- Arena Products Inc.
- TranPak Inc.
- TPS Rental Systems Ltd
- RPP Containers
The demand for folding intermediate bulk containers (IBCs) in different countries can be attributed to various factors:
United Kingdom (U.K.): The expansion of the food and beverage industry in the U.K. is fueling the demand for folding IBCs. The food and drink industry is the largest manufacturing sector in the country, contributing significantly to the economy. With the industry’s annual contribution of USD 33 billion and its role in the nation’s ‘farm to fork’ food chain, there is a need for efficient and reliable transportation and storage solutions like folding IBCs. These containers provide a convenient and cost-effective means of transporting food and beverage products, supporting the growth of the industry.
China: The demand for folding IBCs is increasing in China due to several factors. China holds a major share of the Asia Pacific (excluding Japan) folding IBCs market. The country has witnessed significant growth in industrial production, with an 8.8% increase reported during 2020-2021. This growth in industrial activities creates opportunities for the adoption of folding IBCs, as these containers are widely used for storage, handling, and transportation in various industries. The high compound annual growth rate (CAGR) projected for the folding IBCs market in China reflects the growing demand and adoption of these containers in the country.
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Folding IBCs Market by Category
By Material, Folding IBCs Market is Segmented as:
- Metal Folding IBCs
- Carbon Steel Folding IBCs
- Stainless Steel Folding IBCs
- Plastic Folding IBCs
By Capacity, Folding IBCs Market is Segmented as:
- Up to 500 L
- 501 to 1,000 L
- 1,001 to 1,500 L
- Above 1,500 L
By Application, Folding IBCs Market is Segmented as:
- Chemicals
- Hazardous
- Non-Hazardous
- Petrochemical Products
- Paints, Inks, & Dye
- Food & Beverage
- Automotive & Mechanical Parts
- Cosmetic & Toiletries
- Others
By Packaging Content, Folding IBCs Market is Segmented as:
- Liquid
- Solid & Semisolid
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