The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The bulk container packaging market was valued at USD 3.65?billion, in 2019,?and is expected to reach a value of USD 6.41?billion, by 2025,?at a CAGR of 9.87%, over the forecast period, 2020-2025. The sheer volume of resources and products being transported across the world is a strong indicator of how important the global bulk container packaging market.
- Globalization generates favorable circumstances by keeping manufacturing bases distant from consumption regions. Transportation costs are considered the largest part of the total cost, hence there is a rising requirement for more innovative and cost-effective bulk container packaging solutions, to reduce the transportation costs on the whole.
- Companies are also involved in strategic initiatives to leverage the growing demand for the bulk container packaging market. For instance, Grief Inc., one of the companies in the bulk packaging space, announced its expansion in Texas through various investments in drums and IBC segments.
- Growing export of bulk container packaged products will drive the market. Since there is too much of export/import of goods like food and beverages.
- However, minimizing the impact on the environment is impacting the overall packaging market. Reuse is a major trend in packaging because of the increased pressure to prolong the lifecycle of finite resources through the re-use of containers.
Scope of the Report
A bulk container is designed to store and transport bulk liquid and granulated substances, such as food ingredients, solvents, chemicals, and pharmaceuticals, among others in large quantities. Bulk container packages are transported in a range of vehicles, from humongous cargo ships to even super long monster truck trailers.
Key Market Trends
Drums Hold a Significant Share in the Bulk Container Packaging Market
- Drums are cylindrical containers used for the shipping of bulk cargo. They are often certified for the shipment of dangerous goods that are substances, solids, liquids, or gases that can harm people.
- Dangerous goods include materials that are radioactive, flammable, explosive, corrosive, oxidizing, asphyxiating, biohazardous, toxic, pathogenic, or allergenic, such as ammonia, hydrogen, etc. Therefore, increasing the shipments and trade of these hazardous goods will drive the use of bulk drums.
- Moreover, innovations regarding materials are also transforming the drum (barrel) containers market in the region. For instance, majorly used in transporting hazardous goods, drums made of steel prove to be more beneficial. This is because, steel is durable and reliable, and performs well in both cold and hot temperatures and is fire-resistant. This makes it an ideal match for drums containing combustible or flammable materials. Steel barrels are also economical and environment-friendly.
North America to Account for a Major Share
- The United States is one of the largest markets for bulk containers globally. The increasing expansion in the chemical industry, owing to newfound shale resources, is expected to strengthen the demand for bulk containers in the region. Also, the country’s immense exports from the chemical and pharmaceutical sector keep a constant demand for rigid bulk containers such as drums and pails.
- The country also has a well-established reconditioning infrastructure boosting pooling networks across the country.
- Moreover, in North America, governments are encouraging the utilization of recycled plastic for the manufacturing of plastic products, including containers and bottles.
- However, the industry is increasingly affected by the US-China trade wars. In recent times, increased tariff by the US government on Chinese chemical imports has escalated the import-export scenario of the country’s chemical industry trade, directly impacting the demand for bulk containers from the industry.
The major companies like Greif Inc., Bemis Company Inc. TechnipFMC, Braid Logistics, National Bulk Equipment, Signode Industrial Group, Mondi Group, Bermis Company Inc., among others. The market is neither fragmented nor consolidated. Hence, the market concentration will be moderate.
- December 2018 - Mauser Packaging Solutions introduced a new medical waste container made of 100% recycled material. The innovative concept has been awarded the 3rd prize in the 2018 NENnovation Award presented by the Dutch Standardization Institute NEN.
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