Global Industrial Packaging Market is valued approximately USD 64.3 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.4% over the forecast period 2020-2026. The isolation rules have resulted in short supply and event cancellation and reduced manufacturing and production activities seen across the world. Thus COVID-19 crisis led to some of the sharpest declines in recent times in demand for certain types of oackaging while accelerating the growth of e-commerce shipments across the world. Industrial Packaging are bulky, sensitive to external atmosphere and therefore conserves the product for longer time during storage and transportation specifically with hermetically sealed packaging and secured from external contamination. The rising demand for packaging in major Asian markets such as India and China, strong demand from the food & beverage packaging industry, high optimization in pack size and safety regulations are the few factors responsible for growth of the market over the forecast period. Furthermore, the introduction of products and other strategic alliance by various market players will increase demand for this market. For instance, according to company’s news release in November 2018, Greif Inc. Launched a new high speed production line for small steel drums at Vreeland in The Netherland. This investment will enhance the production of head steel drums(12L to 38L), improving performance, optimizing lead times and offering delivery flexibility. However, Stringent Regulations is the major factor restraining the growth of global Industrial Packaging market during the forecast period.
The regional analysis of global Industrial Packaging market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world due to increasing exports from emerging economies such as China and India. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.
Major market player included in this report are:
The International Paper Company
Bemis Company, Inc.
Mauser Group N.V
Sigma Plastics Group
Wuxi Sifang Drums Limited Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Chemical & Pharmaceuticals
Building & Construction
Food & Beverages
Oil & Lubricants
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Industrial Packaging Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers