Industrial Packaging Market Size, Trends, Scope and Growth Analysis to 2030

0
0

The global industrial packaging market was valued at USD 61.3 billion in 2020, and it is estimated to reach USD 75.3 billion by 2027, registering a CAGR of 3.5during the period 20212027The increasing volume of resources and products transported across various regions is one of the primary factors that has led to the importance of bulk industrial packagingThe packaging used for the storage and transportation of bulk liquid and granulated substances, such as food solvents, chemicals, and pharmaceuticals, ingredients, and industrial equipment, among others, in large quantities, are considered in the scope of the industrial packaging market.

The rising trend of sustainability, bolstered by regulation in several countries, has increased the demand for recycling and reusability in the industrial packaging sectorThe primary forces driving the growth of this market are the advent of sustainable and recyclable packaging materials, consistent rise in construction activity, and growing demand for food and package transportation materials globally.

Get PDF for more Professional and Technical insights: https://www.marketstatsville.com/request-sample/industrial-packaging-market 

Additionally, the greater need to cut down on the logistics costs, bill of materials, and enhance the overall efficiency across the supply chain, is expected to drive investments and innovation among the industrial packaging manufacturers over the forecast periodCompanies and governments have buoyed these factors focused on claiming the necessary measures to reduce packaging wastageThese trends are expected to drive the industrial packaging market over the forecast period.

COVID19 Impact on the Global Industrial Packaging

The COVID19 pandemic and global shutdown have had an impact on global industrial activityLack of availability of raw materials needed in the manufacturing process, workforce shortages, supply chain interruptions, changing pricing that might lead the final product’s production to inflate and go above budget, shipping challenges, and so on are some of the repercussions of lockdownAround May 2020, several of these industries will restart operationsOrder delays and lead times across the packaging supply chain might be extended into the second quarter of 2021 as a result of the interruptions in the first four months of 2020.

The outbreak further created supply pressure for the short term on industrial packaging manufacturers, as raw material suppliers across the globe have been functioning at lowered efficienciesMost packaging companies in the Asia Pacific countries managed only 50 of their production capacities due to the lockdown situation in many countriesManufacturers of packaging materials, like plywood boxes, wooden crates, and corrugated boxes, have faced unprecedented raw material shortage problems, which results in a lowered pace to meet the rising demandBesides, the rapid outbreak of the virus has had a significant impact on global shipping marketsThe demand for goods has witnessed a slump, especially from China, and has caused a ripple effect on everything from goods packaging to container ships.

Global Industrial Packaging Market Dynamics

DriversEmergence of Sustainable and Recyclable Packaging Materials

Sustainable and biodegradable packaging solutions are finding increasing applications in industrial packaging due to the low environmental impact, rising focus on recyclability and sustainability, government emphasis on efficient packaging management, and an increasing ban on plasticDue to the availability of information, greater awareness among consumers forced the packaging manufacturers to deliver more environmentally viable packaging right through the supply chain.

While the prohibition on a few packaging materials, such as polystyrene, plastic bags, and singleuse plastic, may not significantly influence industrial packaging, the overall packaging market theme and direction indicate a determined attempt to exhibit responsible conductFailure to keep up with industry advances may result in the detrimental impact of heavyhanded laws that will eventually outlaw particular kinds of packaging.

RestraintsDynamic Changes in Regulatory Standards Due to Increasing Environmental Concerns

Due to rising environmental concerns, dynamic changes in regulatory regulations are projected to hamper global expansion among the drivers driving the marketRegulatory concerns and revalidation tests necessitate that package providers handle material or important supply changesBecause of the continual changes in regulatory norms, this procedure has become extremely dynamic.

In the European Union, the SingleUse Plastics Directive and the publication of the new EU Commission’s European Green Deal have led to a strong dynamic, which will even intensify in 2020Therefore, the main aspects of the European legal framework for plastics are currently under revisionAlso, in the United States, statewide bans against plastic are being put into placeEight states have passed legislation banning singleuse plastic, with three states (California, Hawaii, and Oregonbringing it into effect as of February 2020.

You Can Purchase Complete Report@ https://www.marketstatsville.com/buy-now/industrial-packaging-market?opt=2950 

Scope of the Report

The study categorizes the industrial packaging market based on product and endusers at the regional and global levels.

By Product Outlook (Sales/Revenue, USD Million, 20172027)

  • Intermediate Bulk Container (IBC)a
  • Sacks
  • Drums
  • Pails
  • Other Products (Crates and Totes)

By EndUsers Outlook (Sales/Revenue, USD Million, 20172027)

  • Automotive
  • Food and Beverage
  • Chemicals and Pharmaceuticals
  • Oil and Gas and Petrochemicals
  • Building and Construction
  • Other Enduser Industries

By Region Outlook (Sales/Revenue, USD Million, 20172027)

  • North America (US, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
  • The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

Access full Report Description, TOC, Table of Figure, Chart, etc. https://www.marketstatsville.com/table-of-content/industrial-packaging-market 

The sacks segment is projected to account for the largest market share by product

By product, the global industrial packaging market is segmented into IBC, sacks, pails, drums, and other productsIn 2020, the sacks segment accounted for the largest 54.1market share in the worldwide industrial packaging market. Sacks are mostly used in healthcare, food, beverages, and building and construction due to their features and benefits, such as sustainability, transparency, convenience, and easy transportThe rapid shift toward sustainable packaging solutions further stimulates the sack providers to innovate and provide recyclable or sustainable sacks for industrial purposesFor instance, ExxonMobil offers a range of performance PE polymers, including Exceed XP and ExxonMobil HDPE, among other products, to create several opportunities to create differentiated, sustainable heavyduty sack solutions.

Asia Pacific accounts for the highest CAGR during the forecast period

RegionWise, the global industrial packaging market has been segmented into North America, AsiaPacific, Europe, South America, and the Middle East & AfricaGlobally, Asia Pacific is estimated to hold the highest CAGR in the global industrial packaging market during the forecast periodThe region includes the countries such as China, India, Japan, South Korea, Australia, Southeast Asia, and the Rest of AsiaPacificThe region’s growth is primarily due to strong economic growth in the domestic emerging countries such as China, Indonesia, Malaysia, and India.

After the Asia Pacific, Europe is the fastest-growing region with a CAGR of 3.1during the forecast periodThe European Unions research & innovation (R&Iprograms have firmly supported the development of industrial technologies and solutions that enable the European manufacturing industry to take full advantage of cuttingedge technologiesThis promotes smart technologies in industrial packaging, further creating opportunities for the United Kingdom market.

Request For Report Description @ https://www.marketstatsville.com/industrial-packaging-market 

Key Market Players

Every company follows its business strategy to attain the maximum market shareGreif Inc., Amcor, Berry Global Inc., Mondi, Sonoco, International Paper, Orora Limited, Sigma Plastics Group, and Mauser Packaging Solutions are leading players operating in the global industrial packaging market.

Showing 0 results
Your Answer

Please first to submit.

Get involved

Register

As a member of this site you will be able to receive aggregates news relating only to those categories that are most relevant to you, submit job listings for FREE, post questions in the Q&A, and more.

Register Now

Feature your company

The Feature Your Company listing is your custom-made (by us) profile page that allows you to add any of the following content: text, videos, links, images. The page will also be listed on the Featured Company landing page. Over 560 unique aggregates users visit the site per day! Complete the enquiry form now to contact us.

Contact us

Jobs

Are you looking for an aggregate related job? Click here to see our jobs listing supplied by industry experts United Employment.

See Jobs

Advertise

Reach thousands of budget holders and decision makers by promoting your company on the longest established aggregate website in the US & Canada. Or advertise in our emails which are sent to opted-in subscribers according to their chosen categories. All advertising will display correctly on tablets and mobiles as this site is responsive.