XploreMR delivers incisive insights into emerging regions in its latest report titled, “Folding IBCs Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment, 2017 – 2027”.
San Jose, CA–11/05/2018—Automotive and mechanical segments to outrun the chemicals segment with a higher growth rate expected during the forecast period. While most of the demand for folding IBCs packaging comes from the food and beverage industry, they are now becoming a preferred application in many other industries such as chemicals, petrochemicals, and cosmetics. According to the market analysis from XploreMR, chemicals segment is expected to hold the highest market value of over US$ 220 Mn by the end of 2027. Most of the demand for folding IBCs to carry chemicals is contributed by hazardous chemicals, which holds a market share of over US$ 200 Mn by the end of 2027. However, in terms of growth rate, automotive and mechanical parts is expected to dominate the market with a CAGR of 5.3% during the forecast period.
- The folding IBCs are made from FDA approved and 100% recyclable materials that provide a safe and secure reusable package.
- Folding IBCs can withstand the effects of sun, wind, rain, ice or snow and allow for a long-term outdoor storage.
- Containerisation and returnable transport packaging for several applications are paving the way for cost optimization.
- Folding IBCs are part of the latest trend in the packaging industry where various applications are demanding containerization and returnable transport packaging. Containerization has made it possible for the shipping industry to more efficiently transport products.
- Bulk containers reduce material handling labor requirements
- There is a growing demand for packaging products, especially for sustainable packaging, which has fuelled the growth of biodegradable polymer materials such as polypropylene, leading to an alternative to rigid forms of bulk packaging, such as, folding IBCs.
- Another alternative is the flexible IBC. Flexible IBCs can be simple to use and cost effective. According to the report, they offer advantages over folding IBCs including flexibility, variety in dimension, energy saving, and anti-static properties. Such properties attract some manufacturers which in turn hinders the growth of the global folding IBCs market.
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