Pune, India -- (SBWire) -- 03/28/2019 --Our latest research report entitled Metal IBC Market (by material type (carbon steel and stainless steel), capacity (up to 500 l, 500 to 1000 l, 1000 to 1500 l, 1500 to 2000 l, and 1500 to 2000 l), design (cubic and cylindrical), content (liquids, semi-solids, and solids)) Global Industry Analysis, Trends, Size, Share, forecasts to 2024 provides complete and deep insights into the market dynamics and growth of Metal IBC. Latest information on market risks, industry chain structure Metal IBC cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Metal IBC growth factors.
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Metal IBC Market: Industry Insight
Metal IBC is a type of packaging container used for the transportation and storage of many liquids and semi-liquids. They provide high organization, mobility, and integration capabilities. Metal intermediate bulk containers are reusable, multi-use industrial grade containers engineered for the mass handling, transport, and storage of liquids, semi-solids, pastes, or solids. The global metal IBC market is expected to reach around 1,804.6 million by 2024.
Metal IBC Market: Drivers and Restraints
The increasing application of metal IBC for storage and transportation of various products in several end-use industries drives the growth of the metal IBC market. Food, chemical, and pharmaceutical industries are growing at a fast pace. The growth in the end use industry is promoting the metal IBCs market. However, the availability of substitutes for the metal IBC such as drums and other IBC types such as plastic, cardboard, and composites hamper the growth of the metal IBC market. Moreover, the increasing adoption of metal IBCs in the emerging countries and expansion of end-use industry in these regions creates favorable growth opportunities for the market over the forecast period.
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Metal IBC Market: Segmentation
The report on global metal IBC market is segmented as material type, capacity, design, content and end user.
The material type segment is further categorized into carbon steel and stainless steel. Among these material types, the market is segmented into carbon steel and stainless steel. Stainless steel has high growth as compared to carbon steel due to its ability to protect against oxidation. In addition, stainless steel is most commonly used for manufacturing intermediate bulk containers.
The capacity segment is categorized into up to 500 L, 500 to 1000 L, 1000 to 1500 L, 1500 to 2000 L and 1500 to 2000 L. Among these, 500 To 1000 L IBC holds the largest share of 32% of the total market share. They have a standard capacity of 1000 L and a built-in pallet for easy and cost-efficient handling.
The design segment is further categorized into cubic and cylindrical. Among these, the cubic segment has a major market share as compared to the cylindrical segment due to its convenient use. In addition, cubic metal IBCs can transport more material in the same footprint compared to cylindrical-shaped containers.
The content segment is further categorized into liquids, semi-solids, and solids. Among these, the liquid segment contributes to the highest market share of 76% in the global metal IBC market. Metal IBC's are mainly used to carry liquid bulk material as spillage of the liquid bulk material is less from metal IBC. Several industries including petrochemical, pharmaceutical, chemical, water treatment, wineries and more use metal IBC for liquid packaging, handling and moving bulk liquids on the road or within the plant contributes to the growth of this segment in the metal IBC market.
The end user segment is further categorized into industrial chemicals, food, and food ingredients, building, and construction, petroleum, and lubricants, paints, dyes, pharmaceutical and inks. Among them, industrial chemicals are the dominating segment in the global metal IBC market and hold approximately 47% of the market share. The use of metal IBCs in the packaging and transporting of industrial chemicals effective and safer transportation adds to the growth of metal IBC in the industrial chemical segment.
Metal IBC Market: Regional Insight
North America dominates the global metal IBC market and is estimated to exhibit growth of 4.42% CAGR over the period from 2018 to 2024. The increasing demand for safe and efficient storage containers in food and beverage industry drivers for the growth of the metal IBC market. In the U.S., the enforcement of several government regulations to reduce the hazards associated with the storage, handling, and use of flammable and combustible liquids favors the North America metal IBC market. Asia Pacific is anticipated to grow at the highest CAGR of 5.68% over the forecast period due to the emergence of the Asia Pacific region as the manufacturing hub.
Metal IBC Market: Competitive Analysis
The global metal IBC market is a fragmented market consisting of a large number of market players with few established players. The leading players in the global metal IBC market include Precision IBC, Inc., Time Technoplast Ltd., Thielmann US LLC, Metano IBC Services, Inc., Hoover Ferguson Group, Yenchen Machinery Co., Ltd., Snyder Industries Inc., Custom Metalcraft, Inc., Sharpsville Container Corporation, Automationstechnik GmbH, and Pensteel Ltd. The established players in this market have recently acquired smaller companies in order to consolidate their market position. Recently, Thielmann has acquired WEW and Precision IBC has acquired Proline systems.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Metal IBC.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
