Industrial Packaging Market – Snapshot
Industrial packaging refers to the process of storing, shipping, and protecting a wide range of goods. Industrial packaging is utilized in the site of production, just straight after the production process. However, this packaging solution can be utilized at any point of time along the supply chain. The growth of the global industrial packaging market is estimated to be driven by its extensive use in the packaging of sensitive products or bulky or hazardous products.
Several end use industries such as machinery manufacturers, technology industry, automotive industry, and manufacturers of highly sensitive equipment manufactures often utilize this type of packaging. Such wide use is estimated to bolster growth of the global industrial packaging market in the years to come. This type of packaging is used in providing protection of products from vibrations to moisture.
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Growth of the Market to be Driven by Increased Demand by Several End Use Industries
This type of packaging makes abundant use of plastics. Different types of plastic that are used in industrial packaging are mentioned as below
- polyethylene terephthalate (PET)
- high-density polyethylene (HDPE)
- low-density polyethylene (LDPE)
- polyvinyl chloride (PVC, vinyl)
- polypropylene (PP)
Increased demand of this type of packaging in food and beverage, oil and gas, chemical and pharmaceutical, agriculture, and electronics industry is estimated to amplify growth of the global industrial packaging market in the years to come.
Industrial packaging is packaging for the manufacturers, for the big producers in businesses. Sometimes, standard packaging isn’t enough for the product, and need more protection to makes sure product stays safe, lasts longer, and makes it to the customer in the right condition.
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Standard wraps and papers can’t protect from the harsh conditions, long shelf times, and environmental damage that industry products face, so having the right protection for the products is essential to maintaining quality and consistency. There are many different types of industrial packaging wraps, papers, fluids, and sprays.
Rising globalization and international trade are supporting the industry growth. Growing commercial industries such as chemical, pharmaceutical, construction, and electronics sector further propels the demand. The developed economies are the highest producers and consumers of these products. Whereas increasing demand in emerging economies will further drive the industry growth.
The market for industrial packaging is growing due to increasing trends in end-use industries. The market growth due to increasing trend in the chemical industry output combined with the increasing healthcare needs of drugs and medicines for the aging U.S. population, coupled with continuing innovations in drug development. The global industrial packaging market had reached to reach US$53.03 bn by the end of 2016.
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Industrial Packaging See Swift Uptake Due To Increase Use of Polyethylene Terephthalate
The industrial packaging market segments the product into drums, intermediate bulk container (IBC), crates, sacks, pails, tubes, and bulk boxes. IBCs are the leading packaging type in terms of popularity. Plastic sacks are replacing paper & jute sacks owing to its benefits such as low cost, lightweight, durability etc.
The industry segments the material into metal, plastic, paper and wood, and fiber. The plastic material segment is the most preferred type by the manufacturers owing to its various properties such as cost effective than other materials, can be molded in to specific shape and size, and durability.
By type, the industry segments as rigid and flexible packing. Flexible segment includes paper & plastic whereas rigid sub-segment includes wooden, metal, and plastic. Increased use of polyethylene terephthalate (PET) in place of heavy metal cans will influence positively on the market. The flexible segment, plastic has a higher growth rate owing to technological advancements.
By end use or application, industrial packaging market cater to various industries such as agriculture & horticulture, building & construction, automotive, chemicals & pharmaceuticals, food & beverage, engineering, metal products, plastic & rubber, electronics, and furniture. Of these, flexible packaging is expected to gain tremendous popularity over the coming years, due to the improvements in flexible packaging in terms of toughness and spatial minimization.
North America, Powered by U.S., Leads Market
Geographically, the global industrial packaging market is classified as North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa. The rise in the demand for the industrial packaging from the industry is the main factors that are boosting the global market in Asia Pacific region. Use of advanced technology in the production of the industrial packaging has boosted the global market in North America. Europe, Latin America, and Middle East and Africa are likely to witness a slow growth in the global market.
Some of the key players in the global market for industrial packaging are Smurfit Kappa Group, Sonoco, Nefab Group, International Paper, Grief Inc., and Sealed Air Corporation, AmeriGlobe, Tekni Films Inc., and B.A.G. Corp among others
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