Global Industrial Packaging Market 2017-2021
About Industrial Packaging
Industrial packaging is defined as the secondary or tertiary packaging used for packing products required for industrial purposes. Industrial packaging also involves protection, storage, handling, and transportation of various industrial products within the industry or with other end-user industry. Industrial packaging containers are available in various shapes and designs, and they are suitable for numerous applications in end-user industries, such as pharmaceutical, chemical, food and beverage, and construction.
Technavio’s analysts forecast the global industrial packaging market to grow at a CAGR of 6.00% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial packaging market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of industrial packaging.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Packaging Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial packaging market: Greif, International Paper, Mondi Group, Nefab Group, and Sonoco Products Company
Other Prominent Vendors in the market are: Aristo Industries, Bulk Handling Australia, Global Pak, industrial packaging, RDA Bulk Packaging, and Snyder Industries.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing demand for biodegradable packaging alternative. Increased concern about the environment posed a challenge to the industrial packaging vendors during the base year. However, the growing trend of increased demand for sustainable packaging solutions will drive the growth of the global industrial packaging market during the forecast period. However, various government stringent regulations in the European countries and the US regarding the disposal of plastic materials using waste dumping and landfills is driving the demand for biodegradable industrial packaging solutions.”
According to the report, one of the major drivers for this market is Increase in use of plastic sacks. Plastic sacks are increasingly used for industrial packaging owing to its physical properties such as durability, light weight, flexibility, and low cost of ownership because of the lesser handling and carrying costs. The use is also increasing due to the suitability of plastic sacks for packaging products such as chemical, food, and fertilizers. Thus, this increased use of plastic sacks is a key driver for the global industrial packaging market. In 2015, the plastic-based sacks packaging market accounted for 69.54% of the global packaging sacks market. This scenario is expected to continue during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is Volatility in raw material prices. Industrial packaging products are manufactured using raw materials such as plastics, metals, wood, and corrugated cardboard. These raw material prices have witnessed volatility due to the gap between the demand and supply of various raw materials. Steel, which is an alloy of carbon and iron, is used as a raw material in the manufacturing of metal IBC and pallet containers, for providing the high tensile strength required by such metal containers. Expected fluctuation in the prices of steel during the forecast period is expected to restrict the demand for metal IBC and pallet containers.
Greif, International Paper, Mondi Group, Nefab Group, Sonoco Products Company, Aristo Industries, Bulk Handling Australia, Global Pak, industrial packaging, RDA Bulk Packaging, and Snyder Industries.