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: Overview
This report provides forecast and analysis of the industrial packaging market on the global and regional level. The study provides historic data of 2015 along with forecast from 2016 to 2024 based on volume (Mn units) and revenue (US$ Mn). It includes drivers, restraints and the ongoing trend of the industrial packaging market along with their impact on demand during the forecast period. The report also comprises the study of opportunities available in the market for industrial packaging on the global and regional level. It also includes value chain analysis with list of raw material manufacturers, IBCs Manufacturers, Drum manufacturers, Pails and crates manufacturers etc.
In order to provide the users of this report with comprehensive view of market, we have included detailed competitiveness analysis and company players. The competitive dashboard provides detailed comparison of industrial packaging manufacturers on parameters such as company’s revenue, unique selling propositions and key strategic developments. The study encompasses market attractiveness analysis, by product type, material type, packaging type, End Use and by geographic region.
Global Industrial Packaging Market: Research Methodologies
Market statistics have been estimated based on average consumption and weighted average pricing of industrial packaging by product type and the revenue is derived through regional pricing trends. Market size and forecast for each segment have been provided in the context of global and regional markets. The industrial packaging market has been analyzed based on expected demand. Prices considered for the calculation of revenue are average regional prices obtained through primary quotes from numerous industrial packaging manufacturers, suppliers, and distributors. All key end users have been considered and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents. Regional demand patterns have been considered while estimating the market for various end users of industrial packaging in different regions. Top-down approach has been used to estimate the industrial packaging market by regions. Market numbers for global product type, material type, packaging type, end use and by region have been derived using the bottom-up approach, which is cumulative of each region’s demand.
To compute the market size, in-depth secondary research is done. Data points such as regional splits and market split by material type, product type, packaging type, end use distribution network and primary usage as well as qualitative inputs from primary respondents have been assimilated to arrive at appropriate market estimates. The report comprises the forecast of the global revenue generated by the sales of industrial packaging market.
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, World Bank, Packaging Digest, Plastic Manufacturers Association, Society of the Plastics Industry, Plastics Europe, and Hoover’s, and company annual reports and publications.
Global Industrial Packaging Market: Competitive Landscape
In the final section of the report, industrial packaging market competitive landscape is included to provide a dashboard view of companies that manufacture and provide services of industrial packaging market. The report contains company profiles of some of the key players in the global industrial packaging market.
The report provides detailed competitive outlook including company profiles of key participants operating in the global market. Key players in the global industrial packaging market include, Smurfit Kappa Group, Sealed Air Corporation, Tekni-Films, Inc., Grief Inc, International Paper, Nefab Group, Schutz, Sonoco, AmeriGlobe, B.A.G. Corp, Mauser Group B.V, Greif inc etc.
The global industrial packaging market are segmented as follows:
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