Various companies are moving towards environmental friendly and re-usable packaging solutions. This is the key factor boosting demand for folding IBCs. Folding intermediate bulk container (IBC) is an industrial grade reusable container, mounted with pallet, which is utilized for transporting and storing bulk powders and liquids.
Following key points have been excerpted from an exclusive interview between a market researcher and industry analysts.
How is growth of the global folding IBCs market in recent period, according to you?
Apropos a recent study developed by Future Market Insights, the global market for folding IBSs is likely to expand at 4.8% CAGR during 2017-2027 to reach market valuation of approximately US$ 520 Mn by the end of forecast period.
According to you, what are the advantages of folding IBCs?
The folding IBCs are space efficient and are particularly designed to enhance handling, increase savings as well as to address environmental issues for all hazardous and non-hazardous liquids. The size of folding IBCs is likely to be folded inward when the unit is empty providing the IBCs to collapse into very much smaller package for return shipment or storage. All folding IBCs are so designed that they can be stacked vertically one atop the other utilizing forklift. Such type of containers can be cleaned with ease owing to smooth surfaces. Further, it helps reduce contamination of the products inside the box.
What are the segments of the market based on material type according to you?
Well, on the basis of material type, the market has been segmented into plastics and metal. The plastic material is likely to lead the market, in terms of market size with estimated market size to reach more than US$ 430 Mn by 2027-end. On the other hand, the metal material is anticipated to showcase fastest demand in foreseeable future. The metal material is anticipated to lead the market with a projected CAGR of 5.1% over the forecast period.
According to you, what are the key applications of folding IBCs?
Among different types of applications, the areas such as mechanical and automotive segments are anticipated to expand at fastest expansion rate over the assessment period. In terms of market size, the chemicals segment is likely to lead the market and in terms of growth rate, it is not much behind the mechanical segment.
How do you think will be the future of the market, on the basis of region?
Typically, APEJ region is anticipated to procure highest market share over the assessment period. Further, the demand for folding IBCs in this region is likely to remain more compared to other regions across the world.
Which packaging content do you think will showcase significant higher CAGR?
Well, on the basis of packaging content, the liquid content is way ahead compared to semi-solid and solid segments. The liquid content segment is likey to reach market valuation of approximately US$ 400 Mn by 2027-end. On the other hand, solid and semi-solid segments are likely to showcase 5.1% CAGR throughout the assessment period (2017-2027).
According to you, what are the leading players operating in the market?
According to recent report published by FMI, Dalian CIMC Logistics Equipment Co., Ltd., Finncont Oy, A. R. Arena Products Inc., TranPak Inc., ORBIS Corp., Brambles Group, and Bulk Handling Australia Group Pty Ltd are some leading players in the market. However, RPP Containers, TPS Rental Systems Ltd, Milford IBC, and Loscam Ltd. are some other players that have consolidated their footprints in the market in recent past.
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