Global Industrial Packaging Market: Snapshot
The general evolution of industries in the emerging economies of the world is creating a massive increase in the demand for industrial packaging. This forms the primary driver for the global industrial packaging market and it will continue to be a positive factor for manufacturers over the coming years. Another driver for the global industrial packaging market is the growing use of high value containers, owing to the growth of industrial prosperity and the better utility offered by these containers. The overall global industrial packaging market is also augmented by the popularity gained by innovative products as well as packaging customizations that manufacturers can offer to their clients. However, the global industrial packaging market is currently being restrained by the very low and still reducing profit margins held by packaging manufacturers, as well as the overall low agility shown by the manufacturers.
The global industrial packaging market is expected to reach US$53.03 bn by the end of 2016. After expanding in terms of revenue at a CAGR of 4.1% within a forecast period from 2016 to 2024, the global industrial packaging market is expected to reach US$73.25 bn in 2024.
Plastics are Key Materials in Global Industrial Packaging Market
The global industrial packaging market can be segmented on the basis of materials, into fiber, wood, paper, metals, and plastic. Plastics have been highly preferred over the past few years. Plastics are easier to mold into specific shapes, provide a robust package covering for fragile contents, last much longer than other materials and can therefore be reused, and are cheaper than the other materials. As a result, a lot of manufacturers in the global industrial packaging market provide plastic packaging as their primary offering, leaving the other materials for specialized or unique orders.
The common types of packaging found in the global industrial packaging market include bulk boxes, tubes, crates, pails, sacks, IBC, drums, and tubes. IBCs are known to be the leading packaging type in terms of popularity. The two general types of packaging adopted by the global industrial packaging market include rigid and flexible packaging. Of these, flexible packaging is expected to gain tremendous popularity over the coming years, due to the improvements in flexible packaging in terms of toughness and spatial minimization.
Players Head to APAC in Search of Better Growth Opportunities
With North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa as the key regions allocated within the global industrial packaging market, a common trend of leadership by more populous economies can be seen so far. North America and Europe, owing to the advanced state of industries and the more streamlined process of transport and delivery, show a consistently positive rate of development in industrial packaging. On the other hand, the sheer volume of industrial activities in Asia Pacific holds it at the lead in the global industrial packaging market for 2015. Asia Pacific is also showing a phenomenal 5.5% CAGR within a forecast period from 2016 to 2024 within the global industrial packaging market, a statistic attributed to greater initiatives for package sustainability, drives to reduce cost per package, quick adoption of technological advancements, and the rising volume of the consumer class. The growing APAC population is perhaps the leading cause augmenting the industrial packaging market of the region.
Leading players in the global industrial packaging market includes Smurfit Kappa Group, Tekni-Films, Inc., Sealed Air Corporation, International Paper, Grief Inc., Nefab Group, Schutz, Sonoco, AmeriGlobe, and B.A.G. Corp.
Global Industrial Packaging Market: Snapshot
Industrial good are bulky, heavy, hazardous to environment, and sensitive to outer atmosphere. Thus, it is important to maintain the product for a long time at the time of transportation and storage. Industrial packaging differs from other types of packaging in terms of strength, thickness, and degree of protection is offers for prolonged storage. Increase in the activities of building and construction across the globe and other sectors such as foods and beverages along with swift growth of export industry are expected to augment the overall development of the global industrial packaging market over the course of the given forecast period of 2016 to 2024.
The global market for industrial packaging could be segmented in terms of the different product types and types of material used. The global market could also be segmented in terms of the packaging type, end use of these packaging, and by region. Such in depth and decisive market segmentation of the global industrial packaging market provided by the report aids in understating the overall growth prospects and the future outlook of the different segments of the market and thus, helping the potential buyers to make informed decisions while investing in the market.
The report on industrial packaging market offers the analysis and forecast on regional as well as global level. It offers historical data of the year 2015 along with the anticipated data of 2017, and a forecast data up to year 2024 in terms of volume and revenue. The report also offers key driving and restraining factors for the growth of the global industrial packaging market and their effect on every region over the course of the given forecast period. The report also gives the value chain analysis of the market with a list of manufacturers of raw materials, drum manufacturers, IBCs manufacturers, and crates and pails manufacturers. The research report on the global market for industrial packaging offers crucial growth prospects and prominent trends and opportunities that may come up in the market over the course of the given forecast period. The research report is the result of in-depth and extensive primary as well as secondary research methodologies backed by crucial market insights offered by the industry professionals.
Global Industrial Packaging Market: Trends and Opportunities
The overall growth of the industrial packaging market is expected to be chiefly driven by the evolution of industries across the emerging economies in the world. This factor is also expected to remain consistent over the course of the forecast period for the manufacturers in the market. Another important driving factor for the global industrial packaging market is the increasing use of containers with high value, owing to the development of the industries and the more efficient utility provided by these containers. The market is also expected to be propelled by the growing trend of launching innovative products and customizable packaging solutions offered by the market vendors.
Global Industrial Packaging Market: Geographical Segmentation
The global market for industrial packaging can be segmented into key regions such as the Middle East and Africa, North America, Europe, Asia Pacific, and Latin America. The market is currently dominated by North America and Europe owing to their advanced industrial setup and streamlined and better processes of delivery and transport. Asia Pacific market for industrial packaging is expected show promising growth over the given period of forecast.
Global Industrial Packaging Market: Key Players
Some of the key players in the global industrial packaging market include names such as Smurfit Kappa Group, Sonoco, Nefab Group, International Paper, Grief Inc., and Sealed Air Corporation, AmeriGlobe, Tekni Films Inc., and B.A.G. Corp among others.
By Material Type
- Paper & Wood
By Product Type
- Bulk Boxes
By Packaging Type
By End Use
- Agriculture And Horticulture
- Building & Construction
- Chemicals And Pharmaceuticals
- Food & Beverages
- Metal Products
- Oil & Lubricants
- Plastics And Rubber
- Asia Pacific
- North America
- Latin America
This report gives access to decisive data, such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report include:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments