Industrial Bulk Packaging Market (Product Type - Drums, IBC, Pails, and Jerry Cans; Application - Chemicals & Petrochemicals, Food & Beverages, and Pharmaceuticals) - Mexico Industry Analysis Size Share Growth Trends and Forecast 2016 - 2024
Mexico Industrial Bulk Packaging Market: Snapshot
The Mexico market for industrial bulk packaging has been expanding steadily for the last few years. The rise in industrialization and the increased shipment of goods in this country have driven a significant demand for industrial bulk packaging here. Boosted by this, this market was expected to reach US$232.0 mn by 2016.
Going forwards, the improving performance of the manufacturing sector and the rising industrial output are likely to reflect positively on the performance of the industrial bulk packaging market in Mexico over the forthcoming years. With a stable economic condition in the country, the market is anticipated to gain substantially from the rebounded performance of the chemicals sector, which is one of the prominent consumers of bulk industrial containers. Projected to rise at a CAGR of 5.50% between 2016 and 2024, the market is likely to reach a value of US$357 mn by the end of 2024.
The manufacturers of industrial bulk packaging materials are leveraging their in-house research and development capabilities to innovate products that suit specific requirements. Along with this, the players are also emphasizing on the technological advancements of their current offerings to meet the exact requirements of customers. However, this is a difficult marketplace, where customer-specific needs are rarely communicated to product developers, which, to an extent, hampers the market’s growth. Apart from this, the supply chain complexities are also creating manufacturing issues for producers, which is likely to hinder this market in the long run.
Demand for Drums to Remain High
Drums, intermediate bulk containers (IBCs), pails, and jerry cans are some of the key products available in the Mexico industrial bulk packaging market. Among these, the demand for drums has been significantly higher than other products and is expected to remain so, rising at a CAGR of 4.90% from 2016 to 2024. Plastic, steel, and fiber/paperboard are the main components of the drum segment. With players shifting towards the sustainable packaging solutions over plastic and steel materials, the fiber/paperboard sub-segment is likely to witness considerable rise over the next few years.
Among others, IBCs are also projected to exhibit a significant rise in their demand in the near future, thanks to the remarkable progress in the chemical industry in Mexico. On the other hand, the demand for pails is expected to grow at a moderate pace over the forthcoming years, driven by their usage in a broad range of mid-sized applications, such as paints and coatings. Similarly, Jerry cans are also anticipated to witness stable growth rate in the years to come.
Chemicals and Petrochemicals to Surface as Leading Application Area of Industrial Bulk Packaging
The chemicals and petrochemicals, food and beverages, and the pharmaceuticals sectors are the prime application areas of industrial bulk packaging across the world. The chemicals and petrochemicals sector have been registering a strong demand for industrial bulk packaging in Mexico, acquiring the top position among the end users. Analysts predict the scenario to remain so over the forthcoming years, increasing at a CAGR of 5.20% from 2016 to 2024.
Containers, such as rigid IBCs and drums, are mostly preferred for the packaging of chemicals and petrochemicals products and are expected continue like this in the near future due to high concentration of these products. The demand for industrial bulk packaging is also anticipated to increase considerably in the pharmaceuticals industry over the next few years.
Some of the leading vendors of industrial bulk packaging in Mexico are Hoover Container Solutions Inc., Mauser Group B.V., International Paper Co., Greif Inc., Menasha Corp., Cleveland Steel Container Corp., and Composite Containers LLC.
Industrial Bulk Packaging Market will Witness Growth Owing to Increasing Demand from Food & Beverage Sector
The increasing need for improved performance of manufacturing industries is expected to aid in expansion of the global industrial bulk packaging market in the coming years. The mechanical mass bundling market is relied upon to observe significant development as interest for hardware, and rising development of online business keeps on introducing new chances. The improving presentation of the assembling area keeps on driving development of the mass bundling market soon. Additionally, the rising interest for made synthetic compounds is required to stay the most prevailing fragment, as interest for drug and innovative work drives interest for synthetic substances. In addition, the steady development in Mexico's economy is probably going to stay a point of convergence for development over the estimate time frame.
Rising interest for food items, and expanding worldwide intermingling in exchange among Asia and North America will drive development for the modern mass bundling market. China keeps on arising as a significant scene for horticultural items. Then again, huge scope popularized horticulture in the US keeps on clearing a path for rewarding chances for development of the modern mass bundling market. Also, the developing interest for petrochemicals in a wide-scope of final results in assembling, will guarantee new chances for development for major parts in the mechanical mass bundling market.
The makers of mechanical mass bundling materials are utilizing their in-house innovative work capacities to develop items that suit explicit prerequisites. Alongside this, the players are additionally stressing on the innovative progressions of their present contributions to meet the specific prerequisites of clients. Nonetheless, this is a troublesome commercial center, where client explicit necessities are once in a while imparted to item engineers, which, to a degree, hampers the market's development. Aside from this, the store network complexities are additionally making fabricating issues for makers, which are probably going to obstruct this market over the long haul.
Mexico Industrial Bulk Packaging Market: Overview
This report provides forecast and analysis of the Mexico industrial bulk packaging market. The study provides historic data of 2015 along with forecast from 2016 to 2024 based on volume (Thousand units) and revenue (US$ Mn). It includes drivers, restraints and the ongoing trend of the Mexico industrial bulk 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 Mexico industrial bulk packaging market.
Factors which are contributing to the growth of industrial bulk packaging are increasing urbanization, increase in industrial spending on packaged goods. Rigid packaging consumption will also be supported by the extensive and expanding recycling infrastructure for metal, glass, and plastic. Chemicals and petrochemicals sector is the most significant end-use market for industrial bulk packaging. The chemicals market represents maximum revenue of the steel drum and rigid intermediate bulk containers (IBC) market.
Mexico Industrial Bulk Packaging Market: Research Methodology
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 Mexico industrial bulk packaging market manufacturers on parameters such as company’s revenue, unique selling propositions and key strategic developments. The study encompasses market attractiveness analysis, by product type and application type.
Market statistics have been estimated based on average consumption and weighted average pricing of Mexico industrial bulk packaging market 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 Mexico market. The Mexico industrial bulk packaging market has been analyzed based on expected demand of the various industrial bulk packaging products. Prices considered for the calculation of revenue are average 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. Market numbers for the product type and application segments have been derived using the top down approach.
Factors which are contributing to the growth of industrial bulk packaging are increasing urbanization, increase in industrial spending on packaged goods. Rigid packaging consumption will also be supported by the extensive and expanding recycling infrastructure for metal, glass, and plastic. Chemicals and petrochemicals sector is the most significant end-use market for industrial bulk packaging. The chemicals market represents maximum revenue of the steel drum and rigid intermediate bulk containers (IBC) market. The market has been forecast based on constant currency rates. A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Industrial Association, Packaging Digest, Packaging world, and Hoover’s, and company annual reports and publications.
Companies Mentioned in this Report
The report provides detailed competitive outlook including company profiles of key participants operating in the Mexico market. Key players in the Mexico industrial bulk packaging market include Mauser Group B.V., Greif, Inc., International Paper Company, Hoover Container Solutions, Inc., Menasha Corporation, Cleveland Steel Container Corporation, and Composite Containers LLC.
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
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
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.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
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.
4. Strategic Frameworks
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?
The Mexico industrial bulk packaging market is segmented below
By Product Type
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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
3.Assumptions and Acronyms Used
4.2. Value Chain
6.Mexico Industrial Bulk Packaging Market Overview
6.1. Value (US$ Mn) and Volume (‘000’ Units)
6.2. Absolute $ Opportunity
7.Mexico Industrial Bulk Packaging Market Analysis, by Product type
7.1.1.Market share and Basis Points (BPS) Analysis By Product Type
7.1.2.Y-o-Y Growth Projections By Product Type
7.2.Market Size (US$ Mn) and Volume (‘000’ Units) Forecast, By Product Type
7.3. Market Attractiveness Analysis, By Product Type
8.Mexico Industrial Bulk Packaging Market Analysis, by Application
8.1.1.Market share and Basis Points (BPS) Analysis By Application
8.1.2.Y-o-Y Growth Projections By Application
8.2.Market Size (US$ Mn) and Volume (‘000’ Units) Forecast, By Application
8.2.1.Chemicals & Petrochemicals
8.2.2.Food & Beverages
8.3. Market Attractiveness Analysis, By Application
9.2.Company Profiles (Details – Overview, Financials, Strategy, Recent Developments, SWOT analysis)
9.2.1.Mauser Group B.V.
9.2.3.International Paper Company
9.2.4.Hoover Container Solutions, Inc.
9.2.6.Cleveland Steel Container Corporation
9.2.7.Composite Containers LLC
List of Tables
Table 01: Mexico Industrial Bulk Packaging Market Size (US$ Mn) and Volume ('000 Units), by Product type, 2015–2024
Table 02: Mexico Industrial Bulk Packaging Market Size (US$ Mn) and Volume ('000 Units), by Application, 2015–2024
List of Figures
Figure 01: Mexico Industrial Bulk Packaging Market Value (US$ Mn) and Volume ('000 Units), 2015–2024
Figure 02: Mexico Industrial Bulk Packaging Market Absolute $ Opportunity (US$ Mn), 2016?2024
Figure 03: Mexico Industrial Bulk Packaging Value Share (%) and BPS Analysis by Product Type 2016 & 2024
Figure 04: Mexico Industrial Bulk Packaging Market Y-o-Y Growth, by Product Type, 2015–2024
Figure 05: Mexico Industrial Bulk Packaging Market Value (US$ Mn) and Volume ('000 Units), by Drum Segment 2015–2024
Figure 06: Mexico Industrial Bulk Packaging Market Absolute $ Opportunity (US$ Mn), by Drum Segment 2016?2024
Figure 07: Mexico Industrial Bulk Packaging Market Value (US$ Mn) and Volume ('000 Units), by IBC Segment 2015–2024
Figure 08: Mexico Industrial Bulk Packaging Market Absolute $ Opportunity (US$ Mn), by IBC Segment 2016?2024
Figure 09: Mexico Industrial Bulk Packaging Market Value (US$ Mn) and Volume ('000 Units), by Pails Segment 2015–2024
Figure 10: Mexico Industrial Bulk Packaging Market Absolute $ Opportunity (US$ Mn), by Pails Segment 2016?2024
Figure 11: Mexico Industrial Bulk Packaging Market Value (US$ Mn) and Volume ('000 Units), by Jerry Cans Segment 2015–2024
Figure 12: Mexico Industrial Bulk Packaging Market Absolute $ Opportunity (US$ Mn), by Jerry Cans Segment 2016?2024
Figure 13: Mexico Industrial Bulk Market Attractiveness, by Product Type, 2016–2024
Figure 14: Mexico Industrial Bulk Packaging Value Share (%) and BPS Analysis by Application 2016 & 2024
Figure 15: Mexico Industrial Bulk Packaging Market Y-o-Y Growth, by Application, 2015–2024
Figure 16: Mexico Industrial Bulk Packaging Market Value (US$ Mn) and Volume ('000 Units), by Chemicals & petrochemicals segment 2015–2024
Figure 17: Mexico Industrial Bulk Packaging Market Absolute $ Opportunity (US$ Mn), by Chemicals & petrochemicals segment 2016?2024
Figure 18: Mexico Industrial Bulk Packaging Market Value (US$ Mn) and Volume ('000 Units), by Food & Beverage Segment 2015–2024
Figure 19: Mexico Industrial Bulk Packaging Market Absolute $ Opportunity (US$ Mn), by Food & Beverage Segment 2016?2024
Figure 20: Mexico Industrial Bulk Packaging Market Value (US$ Mn) and Volume ('000 Units), by Pharmaceuticals Segment 2015–2024
Figure 21: Mexico Industrial Bulk Packaging Market Absolute $ Opportunity (US$ Mn), by Pharmaceuticals Segment 2016?2024
Figure 22: Mexico Industrial Bulk Packaging Market Value (US$ Mn) and Volume ('000 Units), by Others Segment 2015–2024
Figure 23: Mexico Industrial Bulk Packaging Market Absolute $ Opportunity (US$ Mn), by Others Segment 2016?2024
Figure 24: Mexico Industrial Bulk Market Attractiveness, by Application, 2016–2024