Global IBC Rental Business Market: Snapshot
The drive for intermediate bulk containers (IBC) stems largely from the need for containerization of a wide range of consumer and industrial products. The demands are sizable in the oil and gas industry where IBCs are used for containing a wide variety of liquids and gases. The end-use industry has seen burgeoning use of metal intermediate bulk containers. Other end-use industries are personal care and cosmetics, industrial chemicals, food and beverages, paints and inks, automotive components, rubber, and pharmaceutical.
The rental business has risen in business proposition on the back of multiple advantages of renting over buying of IBCs. The underutilization of IBCs has been a rampant issue for end-use industries over the past few years. This has also helped in the evolution of the IBC rental business market. Apart from enjoying tax benefits and capital gains, companies can offer users of IBC budget flexibility and access to the cutting-edge equipment. Furthermore, businesses in end-use industries can benefit from IBC rental business by preserving their credit lines.
Global IBC Rental Business Market: Growth Dynamics
The contours of the IBC rental business market is closely reinforced by the growing prospects in the IBC uptake in several end-use industries. Growing cross-border trade has also spurred the demand for bulk transportation of liquid, thereby propelling the demands for IBC rental services. The vast uptake of containerization in the shipping industry has also positively impacted the demand for IBC rental business. This is because IBC rental services are aimed at promoting the cost-effective transportation of products.
Metal IBCs have seen considerable application in the bulk transportation of hazardous chemicals for the oil and gas industry. Growing demand for customized solutions in IBC rental business has opened new investment pockets for rental service providers. Sheer pace of industrialization will likely help sustain the growth momentum of the market over the next few years. In recent years, stainless steel IBCs have gathered large traction in the IBC rental business market, reason having to do with the outstanding versatility and shelf-life of these metal containers.
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Global IBC Rental Business Market: Notable Developments
Numerous providers of container and packaging solutions, world over, are fast expanding their IBC rental businesses geographically. The strides made by the end-use industries have helped reinforce the prospect. A case in point is the rapid growth of wine and distillery sector in Australia and New Zealand. Hoover Ferguson Group, Inc., a U.S.-based provider of IBC in rental model to energy, petrochemical, and general industries, has been expanding its range of wine and distillery IBC to the aforementioned countries. To this end, they have been focusing on leveraging their fleet of beverage containment solutions. The IBCs are made of polymers and stainless steel, are used by end-use industries for blending, fermentation, and distilling. The company also intends to customize IBC units to meet the tailor-made containment requirements for beverages industry. The company in 2017 has acquired some crucial assets of a prominent tank container rental company.
More such synergistic moves are being made by other players to meet wide range of demands of end-use industries and consequently expand their foothold in the global IBC rental business market. Some of the prominent players in the IBC rental business market are:
- TPS Rental Systems
- Hawman Container Services
- Envirotainer AB
- Global Packaging Services (GPS)
- CMO Enterprises, Inc.
- Metano IBC Services, Inc.
- Precision IBC, Inc.
Global IBC Rental Business Market: Regional Assessment
Regionally, the IBC rental business market has shown considerable potential in Europe, among other developed regions. The substantial opportunities can be attributed to the strides in the chemical and food industries in the region. This has spurred the demand for bulk containerization solutions in these end-use industries. Further, promising regulations are also supporting the prospect of the regional market.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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