Page 38 - Packaging News July - August 2019

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Rigid bulk packaging market – growth, trends, and forecast
The rigid bulk packaging market is set to grow strongly in the Asia Pacific, including Australia
and New Zealand, from 2019–2024, according
to the latest market report from Mordor Intelligence.
KEY MARKET TRENDS
Intermediate bulk containers (IBC) to witness fastest growth:
• IBCs are mainly used for the stor-
age and handling of materials in the oil and gas, chemical, and petrochemical sectors. Further, IBCs ensure product safety and cost-effective packaging solu- tions, as well as help in down- gauging the overall packaging cost thanks to its features, such as multiple usages, large storage capacity, and usability with dif- ferent industrial products.
• The need for corrosion resistance, and a suitable container for the storage and handling of both haz- ardous and non-hazardous liquid applications, has driven the usage of intermediate bulk containers in the chemicals, pharmaceutical, food and beverage, and oil and lu- bricants sectors.
• As an example the UK export was dominated by fuel commodities in the year 2018. According to UK trade info, total exports of goods for April 2019 were €29.9bn. This was a decrease of €3.8bn (11 per cent) compared with the previous month, and an increase of €1.8bn (6.5 per cent) compared with April 2018.
• Further, the increased demand for reusability and sustainable pack- aging has driven the adoption of returnable bulk containers, partic- ularly for exports.
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ARKET OVERVIEW
The rigid bulk packag- ing market is expected to register a CAGR of 4.9 per cent during the forecast period 2019– 2024. Over the last few
decades, global bulk packaging has received very scant attention com- pared to consumer packaging. However, recently, governments and organisations across the world have come to realise the impor- tance of safe and sustainable indus- trial packaging.
• Some of the major drivers con- tributing to the growth of this market include the emergence of sustainable and recycling pack- aging materials, steady growth in construction activity, and in- creased demand for food and drink packaging transport mate- rials across the globe.
• Further, the greater need to improve logistics costs, bill for materials, and enhance overall efficiency across the supply chain, is expected to drive investments in innovation among the industri- al packaging manufacturers over the forecast period.
• The market has been buoyed by companies and governments fo- cused on claiming the necessary measures to reduce packaging wastage.
SCOPE OF THE MORDOR REPORT
The scope of the rigid bulk packag- ing market report is limited to the forms of bulk packaging products of- fered by various vendors, made of different materials for a wide range of end user verticals; including the food, beverage, industrial, chemi- cals, and pharmaceutical sectors.
MARKET SNAPSHOT
Rigid Bulk Packaging Market
Study Period: 2018-2024 Base Year: 2018
Fastest Growing Market:
Asia Pacific
Largest Market:
Asia Pacific
CAGR: 4.9 per cent
Key Players:
Amcor, Mondi, Schütz, Greif, Nefab
2019 2024
July-August 2019
CAGR: 4.9%