Industrial Packaging Market Forecasts to 2028 – Global Analysis By Product (Crates, Pails and Other Products), Material (Metal, Wood and Other Materials), Technology (Injection Molding, Blow Molding and Other Technologies), Packaging (Flexible Packaging a

Industrial Packaging Market Forecasts to 2028 – Global Analysis By Product (Crates, Pails and Other Products), Material (Metal, Wood and Other Materials), Technology (Injection Molding, Blow Molding and Other Technologies), Packaging (Flexible Packaging and Rigid Packaging), Application and By Geography

According tStratistics MRC, the Global Industrial Packaging Market is accounted for $79.13 billion in 2022 and is expected treach $120.09 billion by 2028 growing at a CAGR of 7.2% during the forecast period. Industrial packaging provides the ability tenclose and cover industrial components and systems tpreserve product quality while being transported or used in other areas. Companies in the fields of cosmetics, pharmaceuticals, logistics, transportation, food & beverage, construction, and home appliances, among others, frequently use packaging made of metal, fibre, and plastic. The number of resources and goods being moved across numerous regions is one of the main elements influencing the significance of bulk industrial packaging.

According tthe Brewers Association, the share of craft beer in the total production volume of beer in the United States in 2021 was 13.1%, increasing from 12.2% in 2020. This is expected tdrive the demand for steel drums. According tFood Dive, 67% of customers globally believe it is critical that the items they buy come in recyclable packaging, with 54% indicating it is a factor they consider when purchasing.

Market Dynamics:

Driver:

Increased demand for industrial packaging from chemical and construction industry

The demand for bulk packaging and crates/totes has expanded as a result of increased output in numerous industries and trading of goods like chemicals and petroleum products. Companies that provide industrial packaging serve a variety of end-use industries, including chemical and building & construction. Many industries have a greater need for efficient industrial packaging due texpanding international trade and the secure transit of goods. One of the main growth drivers of the industrial packaging industry is the increase in demand from the chemical and petroleum sectors.

Restraint:

Volatility in raw materials prices

The main sources of naphtha and ethylene, which are the fundamental components used tcreate polypropylene, are crude oils and natural gas. Manufacturers and the market for polypropylene have faced difficulties with the availability of raw materials, demand swings, and price instability. Vendors raise the price of their goods or cut their profit margins as a result of rising raw material costs, which will have a negative impact on the expansion of the market.

Opportunity:

Change in lifestyle patterns

Sustainability will dictate packaging design and business responsibility in the near future as well as in its current incarnation. Sustainable packaging is proving tbe both a wise financial decision and a better one for the environment. New laws and rules mandating firms trecover their packaging materials have been put in place as a result of worries about the secure handling and recycling of packaging materials. Consumer packaging materials were the first thing that was targeted because of the amount of packaging trash that was produced. On the other side, governments and packaging organisations have started ttalk about the environmental effects of using commercial packaging.

Threat:

Recycling & environmental concerns associated with industrial packaging

The World Economic Forum estimates that at least 8 million tonnes of plastic leak intthe ocean every year, which is the same amount of debris that one garbage truck dumps intthe ocean every minute. As a result, recycling—this provides re-use value and decreases waste—becomes a key issue in the industrial packaging industry. A number of legislation, like the Federal Trade Commission's (FTC) 16 CFR Section 260, which encourages green packaging, are alsstifling the demand for plastic industrial packaging. These elements are preventing further market expansion.

Covid-19 Impact

Most of the market's production, manufacturing, research, and logistical divisions have had a very difficult time as a result of the coronavirus epidemic. The bulk packaging market for chemicals and agriculture, among other things, had a major reduction in demand, which had a moderate impact on the industrial packaging industry's growth rate. Nonetheless, there are some variables that have alsbenefited the packaging industry. People are unable tgoutside due tlockdown limitations, sthey turn tonline marketplaces tacquire everyday necessities, which are driving up demand for bulk industrial packaging solutions and services.

The intermediate bulk containers (IBCs) segment is expected tbe the largest during the forecast period

The intermediate bulk containers (IBCs) segment is estimated thave a lucrative growth, due tits widespread use by companies around the world, IBCs have established themselves as a standard in the industrial packaging sector. IBCs are primarily used tstore and handle materials in the chemical, petrochemical, and oil and gas sectors. IBCs come in three different varieties: flexible, rigid, and folding. Because tfeatures like various applications, large storage capacity, and compatibility with a range of industrial products, IBCs alsoffer product protection and cost-effective packaging solutions while reducing overall package costs.

The food & beverage segment is expected thave the highest CAGR during the forecast period

The food & beverage segment is anticipated twitness the fastest CAGR growth during the forecast period, due tthe fear of lockdowns has increased sales of FMCG, fresh food, and everyday necessities through e-commerce and online platforms, which has raised the demand for bulk industrial packaging solutions. Industrial packaging is essential for ensuring that food is safe. It guarantees a smooth and clean transition with little need for human intervention from the picking and procedure tpackaging.

Region with highest share:

Asia Pacific is projected thold the largest market share during the forecast period owing tthe significant demand for industrial packaging from sectors like the automobile, electronics, and pharmaceuticals, which are expanding quickly in nations like India, China, and South Korea. Due tits substantial industrial operations and big population base, China is anticipated tcontinue trepresent the greatest revenue share in the area.

Region with highest CAGR:

North America is projected thave the highest CAGR over the forecast period, owing tthe presence of big industry players like Amcor Ltd., Mondi PLC, and numerous others is considerably boosting the market's revenue growth in the area. One of the consumer packaging trends in the region's nations is the demand for more practical packaging solutions. Uneven growth across materials and forms is the primary driver of fundamental advancements in the packaging industry. Due ta change in consumer behaviour and product innovation in the market, these discrepancies continue texist in the United States.

Key players in the market

Some of the key players profiled in the Industrial Packaging Market include Mauser Packaging Solutions, Veritiv Corporation, Tank Holding Corp., Packaging Corporation of America, International Paper Company, DS Smith PLC, WERIT Kunststoffwerke W. Schneider GmbH & Co., Smurfit Kappa Group PLC, SCHÜTZ GmbH & Co. KGaA, Greif Inc., Berry Global Inc., Mondi PLC, Myers Containers, Snyder Industries LLC, Brambles Ltd (CHEP), Visy, Global-Pak, Inc., Amcor PLC, Nefab Group and Pact Group Holdings Ltd.

Key Developments:

In July 2022, Mondi has collaborated with Diamant, a German bike manufacturer, twrap and preserve its branded mountain and trekking bikes. Diamant uses Mondi's pre-made paper Protector Bags instead of plastic bubble wrap around bike handlebars. The new technique will safeguard bikes during shipping while reducing Diamant's plastic packaging by approximately 85% per year.

In June 2022, Spadel and DS Smith PLC introduced a new 5-liter package that has been innovatively built tbe both practical and sustainable. The EcPack was created in collaboration with the respective market leaders specializing in natural mineral water and sustainable packaging solutions. The octagonal box is made of cardboard and has a flexible plastic bag that holds 5 liters of liquid. Its economic use of materials allows for a 65% reduction in plastic while alsprolonging the shelf life of the water.

Products Covered:
• Crates
• Pails
• Drums
• Intermediate Bulk Containers (IBCs)
• Sacks
• Corrugated Boxes
• Other Products

Materials Covered:
• Metal
• Wood
• Fiber
• Plastic
• Paper & Cardboard
• Glass
• Other Materials

Technologies Covered:
• Injection Molding
• Blow Molding
• Extrusion
• Thermoforming
• Other Technologies

Packagings Covered:
• Flexible Packaging
• Rigid Packaging

Applications Covered:
• Flexible Food & Beverages
• Automotive
• Chemicals
• Building & Construction
• Oil & Lubricants
• Pharmaceutical
• Personal Care & Cosmetics
• Electronics
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements