Target Audience of Industrial Packaging Market: Manufacturer / Potential Investors, Traders, Distributors, Wholesalers, Retailers, Importers and Exporters, Association and government bodies.
Industrial Packaging Market Report provides key statistics on the market status of the Industrial Packaging Key-players/Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Industry
The global industrial packaging market was valued at USD 57.46 billion in 2017, and is expected to reach USD 71.98 billion by the end of 2023, registering a CAGR of 4.61% during the forecast period (2018 – 2023). The scope of the report is limited to type of packaging used in industrial packaging, such as intermediate bulk containers (IBCs), sacks, drums, and pails, among others, and end-user vertical such as automotive, manufacturing, food & beverages, chemicals, oil & lubricants, construction, retail, pharmaceutical, and personal care, among others. The regions considered in the scope of the report include – North America, Europe, Asia-Pacific, and Rest of the World.
Packaging materials are required to contain and preserve materials, enable safe transportation, and serve as a means of informing end customers of the material characteristics its contents. The supply chain for industrial packaging comprises raw material suppliers, transport providers, end-product manufacturers, packaging waste contractors, and recycling service providers.
Asia-Pacific to Dominate the Market Demand in Industrial Packaging
Asia-Pacific has been projected to be the largest market for industrial packaging solutions as of 2015, closely followed by Europe and North America. The industrial packaging sector remains susceptible to socio-economic changes. Demand remains strongly dependent on major end-user applications such as chemicals, food & beverages, pharmaceutical, and construction sectors.
Asia-Pacific is expected to retain its leading position over and beyond the reporting period, aided by strong growth in construction, pharmaceutical, and food & beverages sector, while Europe and North America are expected to record marginally similar market shares. Latin America and Middle East are likely to emerge as viable markets, however, the Asia-Pacific region is expected to record the highest growth rate over the reporting period.
Emergence of Sustainable and Recyclable Packaging Materials to Drive Growth of Industrial Packaging Market
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. A steady rise in the demand for food & beverages and pharmaceuticals has contributed to a drastic increase in the use of industrial packaging materials. However, the environmental impact of disposed waste materials has become a grave concern. A recent study on using reconditioned industrial packaging materials has revealed that savings to the tune of millions of pounds of greenhouse gases can be accrued. These savings can be realized both for single and multi-trip solutions. For example, the use of recycled materials packaging can reduce greenhouse emissions by anywhere between 26-50%, depending on the material used.
Get PDF Sample of Industrial Packaging Market Report @ https://www.360marketupdates.com/enquiry/request-sample/12886019
Major companies covered in this Report:
- Sealed Air Corporation
- Constantia Flexibles
- Beacon Converters
- Industrial Packaging Supplies
- Balmer Lawrie
- Veritiv Corporation
- Colarado Industrial Packaging
- IPS Packaging
- Mondi Plc
- Orora Limited
Reasons to Purchase the Report
Purchase Industrial Packaging Market Report at $ 4250(SUL) @ https://www.360marketupdates.com/purchase/12886019
This Industrial Packaging market report offers an overview of the market trends, drivers, and barriers with respect to the market. A detailed analysis of key players, along with key growth strategies adopted by them is also covered in this report on Industrial Packaging market.