Plastic Rigid IBC Market Outlook and Future Scope Analysis - Forecast To 2023
Summary
Global Plastic Rigid IBC Industry By Material (High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE), Linear Low Density Polyethylene (LLDPE), Polyvinyl Chloride (PVC), and Others), Capacity (Up to 500 liters, 500 to 1000 liters, 1000 to 1500 liters, 1500 to 2000 liters, and above 2000 liters), End Use (Industrial Chemicals, Petroleum & Lubricants, Food & Beverages, Paints Inks Dyes, Pharmaceuticals, and Others) and Regional Outlook to 2023
Plastic Rigid IBC Market Overview
On the contrary, the high risk of occupational hazard that is involved in the production of plastic rigid IBC is likely to threaten its market growth. Additionally, the lack of proper protection protocol in the transportation of chemicals can hinder the expansion of the plastic rigid IBC market.
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Segmental Overview
The plastic rigid IBC market segment study is based on material, capacity, and end user.
By material, the market is segmented into low density polyethylene (LDPE), high density polyethylene (HDPE), polyvinyl chloride (PVC), linear low density polyethylene (LLDPE), and others. The HDPE segment is expected to surge due to the extensive flexibility and cost–affordability, HDPE plastic rigid IBC is gaining high preference.
By end-use, the market is segmented into petroleum & lubricants, industrial chemicals, food & beverages, pharmaceuticals, paints inks dyes, and others. The food & beverage segment is likely to direct the market. The demand for plastic rigid IBC across the food & beverage industry is rising. It is due to the rise in need for better storage and transportation of bulk food products.
Regional Outlook
The plastic rigid IBC market in the Asia Pacific region held the highest share of the market in 2017, and expected to retain its power globally, across the review period. The Asia Pacific market is anticipated to expand at the highest CAGR due to fast-paced expansion of the world population and quick industrialization. The increase in manufacturing activities is observed in strong economies, such as, China, India, Japan, and Singapore. Meanwhile, the rise in need for abrasion-free transportation of products and increase in need for bulk storage quantity are also noted in these regions. These above-mentioned factors are expected to aid the regional market to gain high margins. After the lead, the plastic rigid IBC market in the Middle East and Africa, and North America is expected to experience good health.
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