MARKET OVERVIEW- ASIA PACIFIC INDUSTRIAL BULK PACKAGING MARKET
With the rapid growth in population and emerging economies, the APAC Industrial Bulk Packaging market has increased the demand for various industrial products like food & beverages, medicine, and cosmetics among others have further created ample scope and demand for films, and coating across the globe. Industrial Bulk Packaging is an ideally fully automated machine used to apply a metallic coating to plastic items cosmetics and many other components and objects. The machine has its major role specifically for aesthetics as it adds a unique, eye-catching appearance rising industrial spending is a key factor boosting the growth of the regional market. This region also encourages the entry of small and medium-sized industries due to various factors such as the availability of cheap land and labor, which is fueling the industrial bulk packaging market growth in the Asia-Pacific Region.
MARKET DRIVERS
The APAC Industrial Bulk Packaging market is driven by growth in the pharmaceutical industry. The growing population and consumer demand for various products like food and beverage, medicine, and cosmetics among others have boosted the manufacturer production demand. This factor has further created ample scope for packaging and demand for films, and coating across the industries. Hence with the rising demand for packaging, the manufacturer is expected to have requirements for different machinery which is where the Industrial Bulk Packaging market finds its major demand in the packaging industry. On the other side, rapid urbanization in developing countries is expected to give the market a rise in growth during the estimated period.
MARKET OPPORTUNITIES
The market is expected to have new opportunities is that it is increasing Demand From Automotive Industry and Growing Interest In Rental IBC. Furthermore, the rising use of bulk packaging solutions for packaging personal care products is further propelling the growth of the market across the globe. The APAC personal care and cosmetics industry is growing at a rapid pace. Several consumers across the globe are started using personal care products to maintain personal hygiene. In addition, changing consumer preferences and tastes are playing an important role in propelling the growth of the APAC market. The rise in per capita disposable incomes and increasing awareness about appearance and grooming among individuals are some other factors impelling the growth of the cosmetics market, consequently flourishing the demand for industrial bulk packaging for transportation and storage of cosmetics.
MARKET RESTRAINTS
The market has major restraining factors like drawbacks of using industrial bulk packaging solutions. Drums, normally made of either plastic or metal, have long been a stand-by for a range of industries. Until advancements started making progress in other choices, they were not a bad choice, as they were strong, stable, and predictable in weight and size. The problem is that use issues arose: it is very difficult, for instance, to get all of a viscous or liquid product removed from a drum, even with a gravity-assist dispenser. This results in product waste, which in turn drives up costs.
MARKET GROWTH CHALLENGES
recycling & environmental concerns associated with industrial bulk packaging have created a major challenge for the market growth. Packaging has a lot of environmental impacts, while it also represents a significant cost in the current supply system. As per the World Economic Forum, every year, at least 8 million tons of plastic leak into the ocean, which correspondent to discarding the substances of one garbage truck into the ocean every minute. This is anticipated to increase to two per minute by 2030 and four per minute by 2050, which can destroy the ecosystem. Approximately 90% of all the trash in the oceans is from plastic. It is considered that industrial bulk packaging solutions represent the major share.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the APAC Industrial Bulk Packaging market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With the increasing demand for various Industrial Bulk Packaging in various applications has led to the increasing demand for the market and is expected to witness growth at a CAGR at specific CAGR from 2022-2028.
ASIA PACIFIC INDUSTRIAL BULK PACKAGING MARKET SEGMENTAL OVERVIEW
The Asia pacific Industrial Bulk Packaging market comprises different market segments like product type, end-use industry and Country.
INDUSTRIAL BULK PACKAGING MARKET BY MACHINE TYPE
By product type, industrial Bulk Packaging includes key segments of
- Intermediate Bulk Container
- Rigid IBC Container
- Flexible IBC Container
- Drums
- Jerry Cans
- Pails
- Totes/Cracks
- Corrugated Boxes
- Pallets and Crates
- Others
Pallets & crates are considered to hold the largest share in the market since these are considered to be suitable for many industries which include chemicals, solvents, pharmaceuticals, liquids, food ingredients, sand and grain, and many more. In addition, IBCs are also witnessing rapid growth. IBCs are widely used in aquaponics, general bulk storage, and rainwater harvesting for watering or harvesting as well. Thus, owing to availability of different types of industrial bulk packaging containers in the market and increased demand for these packaging products in the industrial sector are expected to drive the demand for the industrial bulk packaging market.
INDUSTRIAL BULK PACKAGING MARKET BY End User Industry
The Industrial Bulk Packaging market has a major end-user industry in
- Automotive
- Industrial Manufacturing
- Food & Beverage
- Chemical & Petrochemical
- Pharmaceutical
- Cosmetics
- Lithium Ion Battery Manufacturing
The industrial manufacturing segment dominated the market in 2021 and is expected to maintain its dominance during the forecast period. Chemicals, food and beverage, and pharmaceuticals are major industries in this segment. Increasing demand and adoption of intermediate bulk packaging solutions such as tanks and containers in the aforementioned major industries is impelling market growth. For instance, intermediate bulk containers are generally used for the safe storage and transportation of food-grade materials and bulk liquids. With the added bottom and top discharge taps, they are also a suitable solution as storage dispensers. Furthermore, the packaging industry is integral to the manufacturing industry for a good number of reasons.
INDUSTRIAL BULK PACKAGING MARKET BY COUNTRY
The APAC Industrial Bulk Packaging market is studied for the following region
- China
- India
- Japan
- Rest of the APAC
China is anticipated to witness increasing demand for Industrial Bulk Packaging owing to the presence of well-established market players. China is known to be the most important market for industrial bulk packaging, since the country has been actively focusing on its industrialization, and it is a major supplier and producer of automotive, petrochemical, pharmaceutical, etc. which highly creates the demand for industrial bulk packaging. Moreover, India has been among the fastest emerging markets for industrial bulk packaging, owing to increased government focus on promoting industrialization, due to which the demand for industrial bulk packaging products is also increasing at a rapid pace.
COVID-19 IMPACT ANALYSIS ON APAC INDUSTRIAL BULK PACKAGING MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360-degree analysis of micro and macroeconomic factors in the APAC Industrial Bulk Packaging market. In addition, complete analysis of changes in the APAC Industrial Bulk Packaging market expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of a pandemic on economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. The countries that are reliant on the partnered countries for the raw materials in the pharma industry are severely affected by this spread of the virus, as it generated a halt in the supply of all products between the two countries.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the Industrial Bulk Packaging market is majorly focused on expanding the APAC growth of Industrial Bulk Packaging with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in Industrial Bulk Packaging has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfill the required demand of consumers which is further contributing to healthy growth in the market.
The key players studied in the market are
- Pyramid Technoplast Pvt Ltd.
- Time Technoplast Ltd.
- berry plastics corporation
- Sonoco Products Company
- Amcor Limited
- Ds Smith Plc
- Mondi Group
RECENT DEVELOPMENT:
April 2020: Amcor designed a family of stock polyethylene terephthalate (PET) bottles that help co-packers meet the demanding requirements for e-commerce-ready packaging.
