VALLEY COTTAGE, New York, March 6, 2019 /PRNewswire/ -- Global IBC (intermediate bulk containers) liners consumption will lead to the market valuation of over US$ 1 billion towards the end of 2028, according to a new analytical study of Future Market Insights (FMI). The global market for IBC liners has been projected to expand at a promising CAGR of 5% during the 10-year forecast period 2018-2028. The report attributes this growth to billowing consumption of IBC liners within the F&B and chemical manufacturers.
Furthermore, demand for aseptic IBC liners is gaining traction with the increasing need for maintenance of the freshness and aroma of the content stored. The aseptic IBC liner segment holds more than 70% of the total market share, by filling technology.
IBC Liners Market: FMI Key Findings
- Polyethylene is the most common material type used for manufacturing IBC liners owing to its extensive flexibility and cost-effectiveness.
- Among capacity types, the 1,000 to 1,500 litres segment holds the highest market share and is projected to have a highly positive outlook during the forecast period. One of the most common capacity types, 1,000 to 1,500 litres capacity type is widely used for storage and shipping of bulk contents.
- The beverages segment is projected to be the most attractive segment during the forecast period in terms of total incremental opportunity and market share. The demand generated from the beverages sector is expected to remain prominent, which can be recognized with the increasing export activities across the regions for bulk liquid packaging & shipping, as well as the growing adoption of IBC liners for packaging of FDA-compliant IBC liners.
- Among filling technology types, the aseptic filling segment is expected to expand 1.3x of its current value by the end of 2022.
Emergent Markets Expected to Escalate the Demand for IBC Liners
The IBC liners market has numerous growth opportunities in South Asia. The adoption of bulk liquid packaging is positively impacting the IBC liners demand. Manufacturers are focusing on manufacturing IBC liners for standard IBCs and also meeting end-user requirements through customized products. This has led to an increased usage of IBC liners which have unique distinguishing features, particularly in the food and beverages sector.
Intermediate bulk containers are widely being preferred for bulk transportation, while many companies have their fleet of IBCs, some of the small manufacturers are now interested in pooling. The industry is witnessing a shift from the ownership model to the pay-per-use model due to IBC liners. It is more cost-effective than buying an intermediate container. Also, IBCs rentals allow capital conservation and eliminate IBC disposal costs.
With trade activities across the borders expected to propel, the bulk packaging market is expected to witness tremendous growth. This factor, in turn, is anticipated to fillip the demand for IBC liners. Overall, the East Asia IBC liners market is expected to show a positive outlook throughout the forecast period and represent a total incremental opportunity of US$ 73.0 Mn. Middle East and Africa, as well as Latin America, also represent lucrative opportunities for the growth of IBC liners market during the forecast period.
FMI's report has covered some of the key manufacturers operating in the IBC liners market, which also include Bemis Company, Inc., Nittel GmbH & Co KG, Sealed Air Corporation, Arena Products, Inc., Qbig Packaging B.V., CDF corporation, Brambles Industries Limited, Composite Containers LLC, Peak Packaging Ltd., and Paper Systems Inc. among others. Many local and unrecognized players are expected to contribute to the global IBC liners market during 2018-2028.
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Press Release Source: https://www.prnewswire.com/news-releases/ibc-intermediate-bulk-containers-liners-market-is-projected-to-expand-at-a-cagr-of-5-0-through-2028--future-market-insights-300807554.html
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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