Increasing Demand for RIBC to Boost the Global Rigid Bulk Packaging Market Until 2020, Says Technavio
By Business Wire News
By Business Wire News
This research report titled ‘Global Rigid Bulk Packaging Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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Based on product, the global rigid bulk packaging market is segmented into the following:
- Other rigid bulk packaging
Global rigid bulk packaging market by drums
The global rigid bulk packaging market by drums was valued at USD 7.37 billion in 2015 and is expected to reach USD 8.4 billion by 2020. Drums are made of different materials like steel, rigid plastics, and fibers (paperboard). Though the demand for drums will gradually stabilize, their popularity is not expected to diminish owing to their low cost, easy portability, and multiple uses. Drums are available in a range of options including open-top drums, narrow-mouth drums, wide-mouth drums, and welded-top drums.
“The drums segment accounted for the major share of the global rigid bulk packaging market compared to the other segments, though its share will decrease gradually over the forecast period,” says Sharan Raj, a lead analyst at Technavio for research on packaging.
Global rigid bulk packaging market by pails
The global rigid bulk packaging market by pails is expected to reach USD 8.77 billion by 2020, growing at a CAGR of 3.91%.
The pails segment accounted for the second-largest share in the global rigid bulk packaging market. Its share is expected to remain almost the same during the forecast period. Pails are cylindrical containers made of steel, tin, aluminum, paperboard, and rigid plastics. They can be broadly classified as open-head pails, which have easily detachable covers, and tight-head pails, which are tightly sealed using screw tops. They are mainly used for carrying hazardous chemicals in fluid form and are slanting in the structure at the sides, supplemented by bails.
Global rigid bulk packaging market by rigid intermediate bulk containers (RIBC)
The RIBC segment accounted for the lowest share of the market. However, this segment is predicted to experience a high growth rate during the forecast period. RIBCs are mainly made from plastics, but steel and fiber are also used to make RIBCs. They are generally cubic in nature and hence have enhanced capacity compared to cylindrical containers. They are stackable and are usually mounted on accompanied pallets. Products such as bulk chemicals, granulated food ingredients, and liquids can be loaded into these RIBCs. They are usually bought or leased for a certain time period by manufacturing companies. Tracking systems and associated software are readily available to check their delivery status.
“RIBC is providing excellent opportunities to vendors in the market to attract and retain customers and thereby increasing their sales. Although, the global rigid bulk packaging market is dominated by the drums segment, the demand for RIBC is expected to surge over the next four years,” says Sharan.
Global rigid bulk packaging market by other bulk packaging
The other rigid bulk packaging segment includes bulk boxes and material handling containers. These containers are wired or meshed containers, stackable containers, attached lid containers, fiberglass containers, conductive plastic containers, and cardboard containers. For those companies that are opting to increase manufacturing productivity and reduce non-value added activities, using these packaging containers will ensure a high level of efficiency in the face of rising production costs.
Bulk boxes are usually made of paperboard that is corrugated, and hence they are low on the reuse front. This lack of durability is gradually making it a less popular choice, with the availability of much more advanced packaging products such as FIBC and RIBC. Bulk boxes are usually used to package small solid structures, including tool components, grainy material, or powdery solids.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Berry Plastics
Browse Related Reports:
- Rigid Bulk Packaging Market in The US 2015-2019
- Global Flexible Plastic Packaging Market 2015-2019
- Packaging Market in Mena 2015-2019
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