Increasing Demand for RIBC to Boost the Global Rigid Bulk Packaging Market Until 2020, Says Technavio

LONDON--()--According to the latest market study released by Technavio, the global rigid bulk packaging market is expected to grow at a CAGR of more than 4% during the forecast period.

This research report titled ‘Global Rigid Bulk Packaging Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

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Based on product, the global rigid bulk packaging market is segmented into the following:

  • Drums
  • Pails
  • RIBC
  • Other rigid bulk packaging

Global rigid bulk packaging market by drums

The global rigid bulk packaging market by drums was valued at USD 7.37 billion in 2015 and is expected to reach USD 8.4 billion by 2020. Drums are made of different materials like steel, rigid plastics, and fibers (paperboard). Though the demand for drums will gradually stabilize, their popularity is not expected to diminish owing to their low cost, easy portability, and multiple uses. Drums are available in a range of options including open-top drums, narrow-mouth drums, wide-mouth drums, and welded-top drums.

“The drums segment accounted for the major share of the global rigid bulk packaging market compared to the other segments, though its share will decrease gradually over the forecast period,” says Sharan Raj, a lead analyst at Technavio for research on packaging.

Global rigid bulk packaging market by pails

The global rigid bulk packaging market by pails is expected to reach USD 8.77 billion by 2020, growing at a CAGR of 3.91%.

The pails segment accounted for the second-largest share in the global rigid bulk packaging market. Its share is expected to remain almost the same during the forecast period. Pails are cylindrical containers made of steel, tin, aluminum, paperboard, and rigid plastics. They can be broadly classified as open-head pails, which have easily detachable covers, and tight-head pails, which are tightly sealed using screw tops. They are mainly used for carrying hazardous chemicals in fluid form and are slanting in the structure at the sides, supplemented by bails.

Global rigid bulk packaging market by rigid intermediate bulk containers (RIBC)

The RIBC segment accounted for the lowest share of the market. However, this segment is predicted to experience a high growth rate during the forecast period. RIBCs are mainly made from plastics, but steel and fiber are also used to make RIBCs. They are generally cubic in nature and hence have enhanced capacity compared to cylindrical containers. They are stackable and are usually mounted on accompanied pallets. Products such as bulk chemicals, granulated food ingredients, and liquids can be loaded into these RIBCs. They are usually bought or leased for a certain time period by manufacturing companies. Tracking systems and associated software are readily available to check their delivery status.

“RIBC is providing excellent opportunities to vendors in the market to attract and retain customers and thereby increasing their sales. Although, the global rigid bulk packaging market is dominated by the drums segment, the demand for RIBC is expected to surge over the next four years,” says Sharan.

Global rigid bulk packaging market by other bulk packaging

The other rigid bulk packaging segment includes bulk boxes and material handling containers. These containers are wired or meshed containers, stackable containers, attached lid containers, fiberglass containers, conductive plastic containers, and cardboard containers. For those companies that are opting to increase manufacturing productivity and reduce non-value added activities, using these packaging containers will ensure a high level of efficiency in the face of rising production costs.

Bulk boxes are usually made of paperboard that is corrugated, and hence they are low on the reuse front. This lack of durability is gradually making it a less popular choice, with the availability of much more advanced packaging products such as FIBC and RIBC. Bulk boxes are usually used to package small solid structures, including tool components, grainy material, or powdery solids.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Berry Plastics
  • Brambles
  • Greif
  • Sonoco
  • WestRock

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global rigid bulk packaging market is expected to grow at a CAGR of more than 4% during the forecast period.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com