Global Metal IBC Market: Snapshot
Metal IBCs are made up of stainless steel or carbon steel and are used for cross border bulk transportation. Metal IBCs have emerged as a crucial element of growth of cross border trade practices especially for end users such as industrial chemicals. Metal IBC have led to significant minimization of snapping and spillage cases of the bulk liquids due to which they have gained immense strategic significance. Additionally, the global metal IBC market is driven by the increasing manufacturing sector output and trade activities that requires the need of containers for exports and imports.
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The global metal IBC market is envisaged to witness growth at a CAGR of 4.1% for the forecast period 2017-2027. In 2017, the market had secured a valuation of US$ 1,334.4 Mn. However, by 2027, it is envisioned to reach US$ 1,995.0 Mn. Containerization has led to significant low costs for the shipping industry which has further propelled the demand of the global metal IBC market.
A key trend prevailing among the multinational players operating in the global metal IBC market is the use of RFID technology to track and trace the IBCs to save cost as well as enhance customer service.
Stainless Steel Likely to Dominate Metal IBC Market due to Favorable Physical Properties
On the basis of material type, the global metal IBC market is segmented into stainless steel and carbon steel. Stainless steel has high market share and growth rate as compared to carbon steel due to its better wear and tear properties as compared to the carbon steel IBCs.
On the basis of design type, the global metal IBC market is segmented into cubical and cylindrical wherein both the segments are further sub segmented into flat bottom and conical bottom. Cubical flat bottom segment is expected to account for a major market share as compared to the cylindrical segment.
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Among the various capacity types, the 500-1000 liters and 1000-1500 liters segment is expected to lead the global market together accounting for a market share of more than 50% by the end of 2027
On the basis of content type, the global metal IBC market is segmented into liquids and solids and semi solids segment. Liquid segment accounts for a major revenue share as the intermediate bulk containers are mainly employed for the liquid transportation. Liquid segment is expected to account for a market revenue share of more than 85% by the end of 2027.
On the basis of technology, the metal IBC market is segmented into aseptic and non-aseptic technology. Aseptic technology is forecasted to continue its dominance during 2017-2027 expanding at a CAGR of 4.2%.
Global metal IBC market on the basis of end use is segmented into industrial chemicals, paints, inks, and dyes, food and beverages, petroleum and lubricants, waste disposal/recycling and silage, building and construction, and pharmaceutical and others. Industrial chemicals segment accounts for a major chunk in the global metal IBC market. Among the industrial chemicals sub segment, metal IBC are mainly used for the transportation of hazardous chemicals. The hazardous chemicals segment is expected to expand at a CAGR of 4.5% during the forecast period.
North America Likely to Dominate Demand from Metal IBC Market
Lastly, on the basis of region, the Global Metal IBCs market has been segmented into North America, Latin America, Middle East & Africa, Europe, and Asia Pacific. North America Metal IBCs market is estimated to constitute the highest market share in the global region followed by Europe. Metal IBCs market in Asia Pacific is expected to witness comparatively higher CAGR over the forecast period, 2017-2027. However, the rising demand for advanced transportation options for emerging end users such as the food and beverage industry and waste disposal is likely to enable steady dominance of North America in the global metal IBC market in the coming years.
Leading players in the global metal IBC market include Thielmann US LLC, Hoover Ferguson Group, Precision IBC, Inc., Snyder Industries Inc., Custom Metalcraft Inc., Time Technoplast Ltd., Metano IBC Services Inc., Sharpsville Container Corporation, Automationstechnik GmbH, Yenchen Machinery Co. Ltd., Transtainer, Pensteel Ltd., Titan IBC, Plymouth Industries, Hawman Container Services, CLA Containers Ltd., SYSPAL Inc., La Garde, and Acura Group. The global metal IBC market is likely to be intensely competitive over the coming years due to growing commercial prospects of the sector and the rising number of players carving out sizable shares in the global market.
Flourishing Cross Border Businesses to Boost Metal IBC Market
Metal IBCs consist of carbon steel or stainless steel and they are utilized for bulk transportation across borders. Metal IBCs have come up as a key component in the flourishing cross-border trade activities, particularly for various end-users like industrial chemicals. Metal IBC has made significant contributions toward considerable minimization of incidences of bulk liquid snapping and spillage. This has helped them acquire tremendous strategic value. In addition to that, the global metal IBC market is primarily driven by augmented trade activities and rising production in the manufacturing sector. These activities involve the need for vessels for the purpose of exports and imports activities.
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For the shipping sector, containerization has resulted in considerable low costs, which is further likely to drive the growth of the global metal IBC market. The utilization of RFID technology for the purpose of tracing and tracking IBCs has given a boost to customer service and save costs. This factor has come up as a popular trend amongst the players operating in the global metal IBC industry.
Strategic Collaborations are Likely to Widen Scope of Growth of the Market
Numerous large-scale businesses have teamed up with transport and agencies for the purpose of transportation of their goods, which includes liquids as well. Major vendors to cement their footprint in the global IBC metal industry are embracing different strategic alliances. Collaboration with transport networks comprise a few of the innovative tactics embraced by vendors in the global metal IBC market. Such moves are taken to gain an edge over competitors in the industry. Given the arrival of several local players who emphasize on offering high-quality products, the competition between players is intensifying. These companies are also focusing hard on bringing in new clients to their companies to snatch a lead over their rivals. Such high competition in the market is likely to foster growth of the global metal IBC market in the near future.
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