The increasing volume of resources and products that are being transported across various regions is one of the primary factors that has led to the importance of bulk industrial packaging.
New York, Sept. 07, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Packaging Market - Growth, Trends, Forecasts (2020 - 2025)" - https://www.reportlinker.com/p05962012/?utm_source=GNW
- The increasing volume of resources and products that are being transported across various regions is one of the primary factors that has led to the importance of bulk industrial packaging.
- The packaging used for the storage and transport of bulk liquid and granulated substances, such as food ingredients, solvents, chemicals, and pharmaceuticals, and industrial equipment, among others, in large quantities, are considered in the scope of the industrial packaging market.
- In the last few decades, industrial packaging has received very scant attention when compared to consumer packaging. However, recently, governments and organizations across the world have come to realize the importance of safe and sustainable industrial packaging. The growing trend of sustainability, buoyed by legislation across various countries, has driven the demand for recycling and reusability in the industrial packaging sector.
- The market has also observed an increased focus on downgauging/material reduction. An instance of this is the introduction of multi-walled paper sacks. This has helped in reducing the weight of traditional sacks considerably without sacrificing on the strength and performance.
- The industrial packaging market is highly dependent on the global import and export activities. While products, such as drums and pails have a huge demand from the heavy manufacturing industries, products, such as materials handling containers and IBCs have huge applications in logistics and short distance transportation of goods.
- The COVID-19 outbreak and recent lockdown across the globe have affected the industrial activities across the world. Some of the effects of lockdown include supply chain disruptions, lack of availability of raw materials used in the manufacturing process, labor shortages, fluctuating prices that could cause the production of the final product to inflate and go beyond budget, shipping problems, etc.
Key Market Trends
Emergence of Sustainable and Recyclable Packaging Materials to Drive the Market Growth
- Sustainability defines the present state and the foreseeable future of package design and corporate responsibility. Sustainable packaging is proving to be a better option for the environment, in addition to being an excellent investment.
- The growing environmental concerns over safe disposal and recycling of packaging materials have led to the introduction of new policies and regulations, mandating companies to recover their packaging materials. Initially, consumer packaging materials were targeted, owing to the scale of packaging wastes generated.
- However, government and packaging organizations have started addressing the environmental effects involved in the use of industrial packaging. International standards for packaging vary and are based on a host of different regulations. Most standards mandated are voluntary as of now. However, there is a continued push for stricter regulations for packaging materials and their recyclability.
- Companies like Walmart and Coca-Cola have invested in sustainability-related to packaging, as it is becoming an increasingly lucrative transition. The Coca-Cola Company have made their packaging more sustainable by adopting more resource-efficient designs, in addition to using recycled and renewable materials. According to Coca-Cola reports, they have saved approximately USD 180 million a year.
United States to Account for a Significant Market Share
- The North American region is one of the largest regions for the pharmaceutical plastic packaging industry due to its large pharmaceutical manufacturing base and the ability to introduce technological advancements to pharmaceutical packaging. According to PMMI, The Association for Packaging and Processing Technologies, there are more than 700 North American Manufacturers of equipment, components, and materials for processing and packaging.
- The industrial packaging market in the United States is bolstered by the presence of major market players and dynamic manufacturing industries, such as chemicals, pharmaceuticals, food and beverages, and automotive.
- The industrial packaging market in the United States is bolstered by the presence of major market players and strong manufacturing industries, such as chemicals, pharmaceuticals, food and beverages, and automotive.
- The rigid plastic IBCs are used in various industries, such as the food and beverage industry, industrial chemical industry, pharmaceutical industry, paints, inks, and dyes industry, and petroleum and lubricant industry. The Rigid Intermediate Bulk Container Association of North America fosters the interests of persons, firms, and corporations engaged in the business of manufacturing or assembling rigid intermediate bulk containers.
- For instance, the U.S beer industry in 2019 reported shipments of over 203.1 million barrels of beer which is equivalent to over 2.8 billion cases of 24-12 ounce containers worth of beer. Additionally, according to the NBWA Industry Affairs, 2019, the US consumers who are 21 years and older consumed 26.5 gallons of beer and cider per person during 2018, based upon beer shipment data and US Census population statistics. Such instances are indicative of the fact that the market is poised to grow over the forecast period.
The global industrial packaging landscape remains highly fragmented due to the existence of numerous international, regional, and local vendors. Local manufacturers of industrial packaging products cater to unique, innovative solutions at a price lower as compared to the international vendors, resulting in an intense price battle.
- Jun 2020 - Mondi Group announced a EUR 7 million investment in state-of-the-art paper sack converting machine at Mondi’s plant in Nyíregyháza, Hungary. The machine will increase the plant’s quality, efficiency and service standards to produce high-end and sophisticated paper sacks for food purposes.
- Apr 2020 - Greif Inc., expanded its IBC reconditioning network in North America by acquiring a minority investment stake in Centurion Container LLC. This partnership will enhance its capability in sustainable packaging solutions and increase its customer satisfaction rate.
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