Collapsible Rigid Containers Market to Grow at CAGR of 4.9% through 2027
Nearly 120 million collapsible rigid containers were sold in 2018, according to a recent intelligence study by Future Market Insights. Volume sales of collapsible rigid containers will witness a modest 4% Y-o-Y growth in 2019 over 2018. While nestable and stackable containers are highly popular in the returnable packaging containers landscape, collapsible rigid containers have gained immense palpability in recent years, as more compatible for product storage and shipping.
With their convenience in loading-unloading and maintenance operations, collapsible rigid containers continue to gain momentum as vital packaging solution to avoid storage issues, and reduce overhead expenses. According to the report, 100% reusability of collapsible rigid containers, which has significantly complemented productivity in transport and logistics, will continue to propel the market growth.
Bulk packaging applications across multiple end use industries will significantly boost growth of collapsible rigid containers market. Just-under 30% share of the total sales volume of collapsible rigid containers is accounted by consumption in chemical industry, followed by food and beverages. Automotive, agriculture, and pharmaceuticals also remain among the significant end use consumers of collapsible rigid containers, according to FMI.
Demand for Foldable IBCs to Gain Uptick, Plastic Most Preferred Material Choice
Light weight, easy handling, and economic costs remain the key demand determining attributes of crates in collapsible rigid containers market. Crates continue to remain preferred collapsible rigid containers, with sales driven by their innate & unparalleled competency to other variants in terms of cost, handling, and lightweight. According to the study, crates currently account for over 80% of overall collapsible rigid container sales.
The report opines that foldable IBCs will witness healthy demand growth, attributed to their space and cost efficiency, convenient handling, and environmental suitability for bulk packaging of hazardous and non-hazardous fluids. As the demand for cost effective bulk packaging continues to rise, a higher Y-o-Y growth is projected for foldable IBCs in 2019.
Over 90% of collapsible rigid containers sold are made of plastic, whereas metal and other materials such as wood account for the remaining volume of sales. Although multiple advantages associated with plastic containers continue to reign supreme over those offered by wooden or corrugated box containers, popularity of non-plastics is visibly growing over the recent past. The global sustainable drive is pushing use of raw materials other than plastic, which is translating into increasing preference for wooden collapsible rigid containers in coming years.
Global collapsible rigid containers market is a highly fragmented landscape and most of the prominent players are maintaining their strategic focus on mergers and acquisitions. Schoeller Arca System (SAS) accomplished a merger with an Indian polymer manufacturer, Time Technoplast Ltd., (TTL). The newly formed collaboration is named Schoeller Arca Time Materials Handling Solutions.
Some companies are also prioritizing new product launches in the collapsible rigid containers market. Cherry's Industrial Equipment announced the expansion targeting the innovation of a new collapsible rigid containers variant, i.e. wire mesh collapsible rigid containers.
Supported by EFSA (European Food Safety Authority), the European giant in returnable plastic packaging landscape, Schoeller Allibert Services B.V. is firming up the sustainable footprint in collapsible rigid containers market. To curtail the levels of conventional packaging waste and concentrate on green branding, the company is directly involved in providing end-to-end assistance for re-using and recycling of returnable plastic materials.
FMI's report also sheds light on the strategic profiles of several other players active in collapsible rigid containers market, such as Brambles Limited, Supreme Industries Limited, DS Smith Plastics Ltd., SSI Schäfer AG, ORBIS Corporation, Dynawest Limited, Ac Buckhorn LLC, Myers Industries, Inc., Rehrig Pacific Company, Inc., Bulk Handling Australia Group Pty Ltd., A. R. Arena Products Inc., Dalian CIMC Logistics Equipment Co., Ltd., and TPS Rental Systems Ltd. among others.
Press Release Source: https://www.prnewswire.com/news-releases/collapsible-rigid-containers-market-is-expected-to-grow-at-a-cagr-of-4-9-by-the-end-of-2027--300799602.html
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s largest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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