Industrial Bulk Packaging Market Size, Share, and COVID-19 Impact Analysis By Material (Plastic, Steel, Fiber, and Others), By Product (Drums, Intermediate Bulk Container (IBC), Pails, Crates, and Other), By Application (Chemicals & Petrochemicals, Food & Beverages, Pharmaceuticals, Automotive, and Others), and Regional Forecast, 2024-2032

Industrial bulk packaging is generally done to provide safety for storing and shipping a wide range of products. It is generally used at the production site or during the supply of the products. Wide usage of industrial bulk packaging by machinery manufacturers, the automotive industry, and the technology industry to protect heavy products from damage that need special care will contribute to the growth of this market. The increasing industrialization has raised production capacities. Due to that, the exports and imports of industrial goods among the countries have surged, escalating the growth of the industrial bulk packaging market. Growing infrastructure demand in commercial and residential sectors will also thrive in the bulk packaging market.

• For instance, in June 2019, Orbis, a leading company in reusable packaging, launched the HDMX4048-46 MaxCube container to ship bulk beverages. It was designed for shipping more products without weighing out a vehicle. These containers are reusable and generally used for primary packaging.

The surging use of bioplastic in manufacturing bulk containers, as bioplastic is easily recyclable and eco-friendly, will bolster the growth of this market. The growing concern of people towards their health and appearance will increase the demand for skincare & cosmetic products, thus increasing sales and propelling the growth of this market. The surging food & beverage industry and the use of bulk containers storing, packaging, and transporting the ingredients will foster the growth of this market.

The raw materials used to produce bulk containers to store chemicals and petroleum are very high, increasing the cost to the manufacturer and the buyer and hurdling the growth of the industrial bulk packaging market. Using single-use containers by various manufacturers will increase the company’s cost and is anticipated to hinder the market growth.

IMPACT OF COVID-19 ON THE INDUSTRIAL BULK PACKAGING MARKET

The impact of COVID-19 has a mixed impact on the market. Due to the lockdown in most countries and almost a decline in trade, the industrial bulk packaging market saw a sharp decline. However, the pharmaceutical and food & beverage industries saw positive growth because of the overseas transportation of medicines, healthcare kits, and foot items. But the rest of the industries, like chemical & petroleum, automotive and cosmetic industries, saw the negative impact of the COVID-19 as the whole world was following social guidelines and avoiding contact, which led to a decline in the demand and sale of the products and hence declined the packaging market.

KEY INSIGHTS

The report will cover the following key insights:

• Recent Advancements in the Industrial Bulk Packaging Market


• Key Industry Trends


• Regulatory Landscape for the Industrial Bulk Packaging Market


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

ANALYSIS BY MATERIAL

Based on the material, the market is segmented into plastic, steel, fibre, and others. Plastic holds the largest share of the industrial bulk packaging market. The plastic containers are resistant to rust and chemically inert, making them mainly suitable for transporting pharmaceuticals and other items and will be expected to foster the growth of this segment.

ANALYSIS BY PRODUCT

Based on the product, the market is segmented into drums, intermediate bulk containers (IBC), pails, crates, and others. The drum is the dominating segment of the industrial bulk packaging market. Industrial drums provide higher effectiveness and operational efficiency in transporting products, especially liquids, in large quantities. The wide usage of drums in the storage and transportation of chemical lubricants and petroleum will foster the growth of this segment.

ANALYSIS BY APPLICATION

Based on the application, the market is segmented into chemicals & petrochemicals, food & beverages, pharmaceuticals, automotive, and others. The food & beverage segment holds the largest industrial bulk packaging market share. The increase in e-commerce platforms and online food outlets will drive the growth of the food & beverages segment.

REGIONAL ANALYSIS

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The industrial bulk packaging market has been studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the leading region of the global industrial bulk packaging market. The growing industrial activities and the surging number of industries contribute to rising exports, hence driving the growth of this region. Europe will be the second largest market and will grow at a significant rate. The low immunity and rise in chronic diseases among people have driven the healthcare industry, thus propelling the growth of this region. North American region is anticipated to grow steadily due to increasing investments and demand in the automotive industry. Latin America is expected to grow moderately. The increasing infrastructural activities raise the demand for transportation and storage of materials and hence increase the demand for bulk packaging, thus thriving the growth of this region. The Middle East African region will witness steady growth due to the rising petroleum demand and its transport across the globe.

KEY PLAYERS COVERED

The report will include profiles of key players such as Grief, Cleveland Steel Container, Composite Containers LLC, International Paper, BWAY Corporation, Myers Container, Time Technoplast Ltd., Peninsula Drums, Hoover Ferguson Group, Inc., Büscherhoff Spezialverpackung GmbH & Co. KG, WERIT Kunststoffwerke W. Schneider GmbH & Co., among others.

SEGMENTATION

KEY INDUSTRY DEVELOPMENTS

• November 2020: Sonoco introduced lightweight, recyclable packaging for heavyweight products. It helps companies to protect the item and reduce storage space.


• April 2020: Grief, a manufacturer of industrial packaging products, acquired some stacks in Centurion Container LLC to expand their intermediate bulk container business in North America. And this minor acquisition helped Centurion Container LLC to get global recognition and the technologies that Grief has.


• July 2019: Berry Global Group acquired RPC Group Plc (RPC), and this acquisition helped Berry Global Group to become one of the world’s leading plastic packaging companies.