Global Industrial Packaging Market Size, Trends and Growth Opportunity, By Product (Drums, IBCs, Sacks, Pails, Crates/ Totes, Totes, Corrugated Box, Others), By Material (Paper, Cardboard, Plastic, Metal, Wood, Fiber), By Packaging Type (Flexible, Rigid), By Technology (Injection Molding, Blow Molding, Extrusion, and Thermoforming), By Application (Chemical, Pharmaceutical, Building and Construction, Food and Beverage, Petrochemical, Automotive, Personal Care and Cosmetics, Building and Construction, Electronics, Agriculture, Furniture, Textile, Metal, Others), By Region and Forecast till 2030.
Global Industrial Packaging Market
Global Industrial Packaging Market was valued at USD 21.47 billion in 2022 and is slated to reach at USD 14.21 billion by 2030 at a CAGR of 5.32% from 2023-2030.
Industrial packaging is a method of creating packaging options for products that is primarily made for industrial uses. Large quantities of goods must be securely kept, packaged, and transported. Heavy-duty packaging is a type of industrial packaging that is typically used as the first layer of packaging in industrial and manufacturing facilities.
Market Drivers
Global industrial packaging market expansion is predicted to be fueled by rising consumer demand for food goods over the forecast period. Government laws, evolving consumer preferences, food storage, and increased demand all contribute to this increase in packaged food demand. By guaranteeing the secure handling and storage of food products, packaging materials help the food sector in a crucial way. As a result, the market for industrial packaging is projected to expand as consumer demand for food goods rises. Sustainable packaging is a wise financial decision and better for the environment. New laws and rules mandating firms to recover their packaging materials have been implemented as a result of worries about the recycling and safe handling of packaging materials. Nowadays, most of the needs that are required are optional. The demand for stricter regulations governing recyclable and ecological packaging is ongoing, nevertheless. Sustainable packaging has attracted the attention of businesses like Walmart and Coca-Cola since it is turning out to be an increasingly profitable change. As a result, the industry will grow as more recyclable and environmentally friendly packaging materials become available.
Market Restraints
The creation of insulated packaging frequently uses the downstream by-products of crude oil as raw materials, including polyethylene, polystyrene, EPS Styrofoam, and polyurethane. Crude oil price swings have an impact on how much it costs to package raw ingredients. Thus, the fluctuation in crude oil prices would restrain the industrial packaging market's expansion. This is expected to be a significant issue for the market's manufacturers during the course of the projected year. There is growing environmental concern around the world since many businesses, such as pharmaceuticals and food and drinks, require bulk packaging, which generates a lot of waste. This is projected to slow the growth of the worldwide industrial packaging industry.
Market Segmentation
Global Industrial Packaging Market segmented into Product, Material, Packaging Type, Technology, and Application. By Product such as Drums, IBCs, Sacks, Pails, Crates/ Totes, Totes, Corrugated Box, Others, Pallets, Wrap Films, Wrapping Strips, Flexible Packaging. By Material such as Paper, Kraft, Bleached
Greaseproof and Glassine, Waxed Paper, Others, Cardboard, Carton Board, Corrugated Board, Others
Plastic, Polyethylene (PE), Polypropylene (PP), Polystyrene (PS), Polyester, Polyvinyl chloride (PVC), Polyvinylidene chloride (PVDC), Polyamides (PA or nylon), Polycarbonate (PC), Polyethylene terephthalate, Others, Metal, Steel, Aluminum, Tin, Chromium, Others, Wood, Fiber. By Packaging Type such as Flexible, Rigid. By Technology such as Injection Molding, Blow Molding, Extrusion, Thermoforming. By Application such as Chemical, Pharmaceutical, Building and Construction, Food and Beverage, Petrochemical, Automotive, Personal Care and Cosmetics, Building and Construction, Electronics, Agriculture, Furniture, Textile, Metal, Others.
Regional Analysis
Global Industrial Packaging Market segmented into five regions North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The industrial packaging industry is predicted to be dominated by North America due to the region's established economy and robust delivery and transportation systems. Increased robotic package delivery technologies will also accelerate market expansion in this region. Because of the growing demand for ready-to-eat and convenience food products in this region, Asia-Pacific is predicted to be the fastest emerging market over the forecast period of 2023-2030. Furthermore, increased OEM and medicine production will drive market expansion in this region.
Key Players
This report includes a list of numerous Key Players, namely DS Smith (U.K.), Mondi (U.K.), International, Paper (U.S.), Sonoco Products Company (U.S.), Sealed Air (U.S.), Huhtamäki Oyj (Finland), Smurfit Kappa (Ireland), WestRock Company (U.S.), UFP Technologies Inc. (U.S.), Stora Enso (Finland).
Market Taxonomy
By Product
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