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Industrial Packaging Market Size, Growth Potential Analysis, Porters Analysis, Pricing Trend, Regulatory Landscape & Forecast, 2023 – 2032

  • Report ID: GMI1613

Industrial Packaging Market size is poised to grow with a lucrative CAGR from 2023 to 2032. Increased international trade demands for product safety and robust packaging option to overcome damage occurred by environmental factors and transportation will drive the business expansion. This enables the manufacturers to provide easier distribution and reduce transportation losses occurred by the damage through the protective wrapping.
 

Rising globalization and international trade are supporting industry growth. Growing commercial industries, such as the chemical, pharmaceutical, construction, and electronics sectors, will further propel the demand for industrial packaging. The developed economies are the highest producers and consumers of these products. This apart, increasing demand in emerging economies, will further boost industrial packaging market growth.
 

Increasing expenditure in R&D for materials and supporting government policies will further increase the demand. Technological innovations such as digital printing and the use of robotics in workshops will help maximize the product shelf life, efficient use of resources, and minimize waste, thereby increasing revenues.
 

However, pricing pressure on small vendors hinders the industry growth. The low and reduced profit margins for the manufacturers decrease the industry attractiveness owing to numerous local vendors. Low penetration in developing markets may hamper the industrial packaging market growth. Utilizing biodegradable raw materials for packing provides future growth opportunities for manufacturers. Stringent government regulations regarding the environment and employee safety encourage the use of biodegradable materials such as PLA and PHA plastic.
 

The war crisis that has been underway between Ukraine and Russia has led to widespread closures and an exodus of over 300 major western firms, comprising packaging and production facilities in both countries. Uncertainty about the war end has made some companies reluctant to suspend activities, either shutting down operations or scaling production. The recent declaration of martial law in February 2023 in Ukraine forced numerous facilities, such as Karpatneftekhim, which is the country’s largest petrochemical (PET) plant, to halt operations. With the war showing no signs of an end in the near future, companies are hesitant about resuming operations.
 

By product, the industrial packaging market share is categorized into drums, intermediate bulk containers (IBC), crates, sacks, pails, tubes, and bulk boxes. Intermediate bulk containers are extensively used for covering purposes. Paper & jute sacks are being replaced by plastic sacks, owing to their benefits such as low cost, lightweight, durability, etc.
 

With respect to material, the overall industry size is classified into metal, plastic, paper, wood, and fiber. The plastic material segment is expected to garner appreciable gains during 2023-2032, given the increasing preference for plastic material-based industrial packaging among the manufacturers owing to its various properties, such as being more cost-effective than other materials. Besides, plastic packaging can be molded into specific shapes & sizes and has durability.
 

By type, the industrial packaging market is fragmented into rigid and flexible packing. The flexible segment includes paper & plastic, whereas the rigid segment includes wood, metal, and plastic. Increased use of polyethylene terephthalate (PET) as a replacement for heavy metal cans will positively influence the market dynamics through 2032. The flexible type, especially flexible plastic, is expected to show a higher growth rate over 2023-2032 owing to technological leaps in this segment.
 

By end use or application, the industrial packaging industry caters to various industries such as agriculture & horticulture, building & construction, automotive, chemicals & pharmaceuticals, food & beverage, engineering, metal products, plastic & rubber, electronics, and furniture. The food & beverage segment attained a decent valuation in 2022 and is estimated to witness commendable growth through 2032, given the escalating food demand and increasing uptake of packaged food and beverages. Besides, the improving economic outlook and expanding working class across both developed and developing countries have propelled the demand for on-the-go food items, thus aiding the segment's growth.
 

The North America industrial packaging market is expected to expand at a steady CAGR between 2023 and 2032 owing to the developed economy, transport, and delivery infrastructures. The growing occurrence of chronic disease and the increasing aging population will increase the demand from the pharmaceutical and chemical sectors in the region. The use of robotic systems for packages is expected to increase product penetration in the US with the introduction of the Food Safety Modernization Act, further strengthening the regional industry outlook.
 

Sealed Air Corporation, Amcor Limited, International Paper, WestRock, Tekni-Films, Mondi Group, Sonoco, Bemis Company, Schutz, AmeriGlobe, Mauser Group ( BROCKWAY STANDARD HOLDINGS CORP, CD&R Millennium HoldCo 2 BV), Orora Group, BAG Corporation, Greif Inc, Bulk handling, East India Drums & Barrels manufacturing, Chem-Tainer industries, Corr-Pak Corporation, Halsted Corporation, Sigma Plastics Group, Wuxi Sifang Drums Limited company, Nefab, Hoovers Container Solutions (Hoover Ferguson Group, Inc.), Intertape Polymer Group, Jumbo Bag, and LC packaging are some of the major companies in the industrial packaging market. The manufacturers are focusing on providing low-cost, environmentally friendly packaging solutions for the end users.
 

What Information does this report contain?

Historical data coverage: 2018 to 2022; Growth Projections: 2023 to 2032.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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