Zion Market Research has published a new report titled “Folding IBCs Market by Material, by Capacity, by Packaging Content, and by Application: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global folding IBCs market was valued approximately USD 330 million in 2018 and is expected to generate around USD 470 million by 2025, at a CAGR of around 4.9% between 2019 and 2025.
The rising demand for folding IBCs in food and beverage and chemical industries across the globe is expected to drive the folding IBCs market over the forecast timeframe. Folding IBCs are gaining popularity in the food and beverages sector, due to their extensive use for storage and transportation of food items and beverages in bulk quantities from various manufacturing locations. Folding IBCs have various applications in the paints and petroleum industry, as they can safely transport different types of solid or liquid products such as hazardous or dangerous goods. Paint storage is gaining popularity in recent years due to the introduction of advanced and innovative packaging solutions for paints. The rising number of building, construction, and housing activities in emerging countries and the increasing demand for advanced products with reusable features are expected to increase the demand for folding IBCs in the paints industry.
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IBCs are segmented as portable tanks by the National Fire Protection Association (NFPA) 30 “Flammable and Combustible Liquids Code”. They are either made up of plastic or metal and are used as a packaging solution for hazardous and non-hazardous goods.
By material, the folding IBCs market is segmented into plastic and metal. The metal segment is further divided into stainless steel and carbon steel. The plastic segment held the highest market share in 2018, owing to the increasing demand for plastic IBCs du to their cost-effectiveness.
Based on capacity, the folding IBCs market is segmented into less than 500 liters, between 500 and 1000 liters, between 1000 and 1500 liters, and more than 1500 liters. The 500 to 1000 liters segment is anticipated to dominate the folding IBCs market in the future, due to the rising demand from various industries, such as food and beverages, chemicals, etc. The 1000 to 1500 liters segment is expected to grow significantly over the estimated timeline.
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Based on packaging content, the folding IBCs market is segmented into liquid and solids & semi-solids. The liquid segment held a substantial market share in 2018 and is expected to grow rapidly over the forecast timeframe. This can be attributed to the increasing demand from the beverage industry.
The application segment includes chemicals, cosmetic and toiletries, automotive and mechanical parts, food and beverage, paints, dyes, and inks, petroleum products, and others. The chemicals segment includes non-hazardous and hazardous chemicals. The food and beverages segment held the major revenue share in 2018, due to the rising demand for transportation and storage of bulk food products and various beverages across different locations from the manufacturing units.
The Asia Pacific is projected to dominate the folding IBCs market over the estimated time period, owing to increasing disposable income of people mostly in emerging countries, such as India and China, the easy availability of cost-effective labor and land, and growing transportation and storage requirements for numerous bulky goods. The North American folding IBCs market is likely to grow significantly over the forecast timeframe, owing to the increasing use of folding IBCs to store and transport food products and liquids by the region’s food and beverage industry.
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Some key players operating in the global folding IBCs market include RPP Containers, TPS Rental Systems, Loscam Ltd., Wuhao Industry & Trade, Dalian CIMC Logistics Equipment, Buckhorn, Bulk Handling Australia Group, SBH Solutions, A. R. Arena Products, Finncont, ORBIS Corp., TPS Rental Ltd., TranPak Inc., Brambles Group, Schoeller Allibert, Milford IBC, and Horen Plastics, among others.
This report segments the global folding IBCs market into:
Global Folding IBCs Market: Material Analysis
- Stainless Steel
- Carbon Steel
Global Folding IBCs Market: Capacity Analysis
- Less than 500 Liters
- Between 500 and 1000 Liters
- Between 1000 and 1500 Liters
- More than 1500 Liters
Global Folding IBCs Market: Packaging Content Analysis
- Solids and Semi-Solids
Global Folding IBCs Market: Application Analysis
- Cosmetic and Toiletries