Global Rigid Intermediate Bulk Container Packaging Market: Introduction
Rigid intermediate bulk container, also known as pallet tank is a reusable industrial container modelled for the storage and transport of granulated substances or bulk liquids including chemicals, solvents, food ingredients, pharmaceuticals etc. These containers are mainly designed to be moved using a pallet jack or a forklift and are mostly cubical in shape. Rigid intermediate bulk containers are mounted on a pallet in a stack and thus are called stackable containers. Rigid intermediate bulk containers are covered by a rigid case, mostly made of galvanized iron or steel, to ensure safety and durability, hence the name. Moreover, when compared to cylindrical-shaped containers, rigid intermediate bulk containers can transport supplementary materials in the similar footprint being cubical in shape and have a durable lifespan of more than 20 years.
Rigid intermediate bulk containers are made of various materials including plastic, fiberboard, wood, metal etc. Furthermore, most of the rigid intermediate bulk containers possess a built-in faucet/tap at the base of the container through which the liquid content can be withdrawn into smaller containers by attaching hoses/pipes. Rigid intermediate bulk containers are used to ship and store commodities and raw materials, bulk chemicals and hazardous materials, petrochemical products, food syrups etc.
Global Rigid Intermediate Bulk Container Packaging Market: Segmentation
The global rigid intermediate bulk containers packaging market can be segmented on the basis of material type and application. On the basis of material type, the global rigid intermediate bulk containers packaging market can be segmented into plastic, paper (fiberboard), wood and metal. On the basis of application, the global rigid intermediate bulk containers packaging market can be segmented into food & beverages, chemicals, pharmaceuticals and others. Among material type, plastic is most often used in storing and transporting food and beverages and chemicals due to its cost effectiveness and durability along with flimsiness. Considering application, food and beverages segment is expected to witness a significant growth followed by chemicals and solvents.
Global Rigid Intermediate Bulk Container Packaging Market: Dynamics
Cost-effectiveness and higher operational performance are some key factors driving the demand for rigid intermediate bulk containers thus in turn fuelling the growth of the overall global rigid intermediate bulk containers packaging market. Moreover, expansion of commodity trade especially in developing regions is expected to spur the demand for rigid intermediate bulk containers in the global rigid intermediate bulk containers packaging market. Urbanization and increase in international trade are the key factors driving the growth of the global rigid intermediate bulk containers packaging market. Rigid intermediate bulk containers is expected to witness a benefit from a rebound in chemical production as well as performance advantages over single-use, shorter-lived or smaller packaging. However, lack of consumer awareness and higher initial costs are two major factors hampering the growth of the global rigid intermediate bulk container packaging market. Furthermore, competition from flexible intermediate bulk containers, which are substantially less expensive than rigid intermediate bulk containers is another major factor restraining the growth of the global rigid intermediate bulk container market.
Global Rigid Intermediate Bulk Container Packaging Market: Region-wise Outlook
On the basis of region, the global rigid intermediate bulk container packaging market can be segmented into seven key regions including North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan. North America is expected to account for the maximum market share by the end of 2016 followed by Western Europe and Asia-Pacific. Asia-Pacific region is anticipated to witness the highest growth due to increase in globalization and industrial trade especially among the developing economies of the region such as India, China etc.
Global Rigid Intermediate Bulk Container Packaging Market: Key Players
The major players involved in the manufacture of rigid intermediate bulk containers are Berry Plastics, Brambles, Sonoco Products Company, WestRock, Greif Incorporated, Berenfield Containers Incorporated, BWAY Corporation, Koch Industries Incorporated, Weidenhammer Packungen among others.
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?
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.