Global Industrial Packaging Industry Size, Share, Analysis, Trends, Future Scope By Packaging Type (Flexible & Rigid), Materials (Metal, Plastic, Paper, And Wooden), Products (Bags, Boxes, Sacks, Barrels, Tanks, And Others), End-User, And Region – Global Forecast To 2023
Industrial Packaging Industry – Overview
The extended storage period of certain goods in industrial settings is driving the demand for new and improved industrial packaging materials. Market reports linked to the packaging and transport industry have been offered by Market Research Future which makes reports on other industry verticals that intends to study the current market scenarios better. The market is anticipated to expand with a CAGR of 5% in the duration of the forecast period.
The ability of industrial packaging to handle heavy, bulky and environmentally sensitive products is expected to motivate the market in the coming years. The rising demand witnessed from the end-user sectors such as chemicals & pharmaceuticals, construction, and electronics is expected to further motivate the growth of the market in the forecast period. The increasing rate of global trade and the deployment of shipping containers are projected to create new aspects for the growth of the Industrial Packaging Industry in the upcoming period.
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The key companies functioning in the Industrial Packaging Industry are Mondi plc (Austria), Amcor Limited (Australia), WestRock Company (U.S.), Greif, Inc. (U.S.), International Paper Company (U.S.), Mauser Group (Germany), Sigma Plastics Group (U.S.), Orora Limited (Australia), Bemis Company, Inc. (U.S.), Wuxi Sifang NEFAB GROUP (Sweden), AmeriGlobe LLC (U.S.), Drums Limited Company (China), Schoeller Allibert (The Netherlands), Sonoco Products Company (U.S.), and Sealed Air Corporation (U.S.).
Feb 2019 Greif Inc., a well known industrial packaging products and services company, declared its first quarter 2019 results. As per the company, their net sales decreased by $8.7 million to $897 million and their total profit grew by $1.1 million to $172.8 million. The company’s latest acquisition of Caraustar Industries has extended the packaging company’s portfolio in the recycled paperboard sector.
The segmentation of the Industrial Packaging Industry has been carried out on the basis of materials, packaging type, end-user, products, and region. On the basis of packaging type, the Industrial Packaging Industry is segmented into rigid and flexible. On the basis of materials, the Industrial Packaging Industry is segmented into plastic, metal, paper, and wood. On the basis of products, the Industrial Packaging Industry is segmented into boxes, bags, sacks, tanks, barrels, and others. The segmentation on the basis of end-users, the Industrial Packaging Industry is segmented into construction, food & beverages, electronics, chemicals & pharmaceuticals, and others. The regions included in the Industrial Packaging Industry are Europe, North America, Asia Pacific and Rest of the World.
Detailed Regional Analysis
The Industrial Packaging Industry consists of regions such as Europe, North America, Asia Pacific and Rest of the World. Among these regions, the Asia Pacific region is expected to be the principal region in the market and can observe outstanding growth over the forecast period. The expansion in the Asia Pacific region is mainly motivated by the growing industrialization and urbanization, increasing consumer spending, and varying lifestyles. The North American region is likely to be the next principal contributor in the market due to the rise in the export and import activities. Moreover, the North American Free Trade Agreement (NAFTA) is anticipated to enhance market growth additionally. The European region controlled the third prime market share in 2016 owing to the strong demand from the pharmaceutical and food & beverages and industry for industrial packaging.
The chances for growth in the market are demonstrating ample area for progress in the forecast period. The competitive viewpoint for the market is expected to expand considerably in the approaching period. The advances in the market are expected to be encouraged by the escalation in investments and product developments. The market contestants find themselves in a favorable place with the ability to deal with the speed of change. The competitors are avidly tackling the challenges to development and are making strategies that can lead to an advantageous overall effect on the market’s growth. The market pros are making efforts to establish strong value chains that can bring in amplified profits. The perceived tendency for the market’s advance has enhanced following the improved approachability to encouraging aspects of the market.
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Table Of Content
- Report Prologue
- Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
- Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
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