Industrial Packaging Market Size| COVID-19 Impact, Research Report - Forecast to 2023
Industrial Packaging Market Size
The growing consumer electronics industry is also likely to be a major driver for the global Industrial Packaging Market Size over the forecast period due to the need for secure packaging for consumer electronics, which often contain glass and thus represent a safety hazard if the glass were to break. The growing demand for products such as smartphones, washing machines, and television sets is thus likely to be a major driver for the global Industrial Packaging Market Size over the forecast period.
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Competitive Analysis
Leading players in the global Industrial Packaging Market Size include
- Sealed Air Corporation
- Schoeller Allibert
- AmeriGlobe LLC
- Sonoco Products Company
- NEFAB Group
- Wuxi Sifang Drums Limited Company
- Sigma Plastics Group
- Mauser Group
- Orora Limited
- Bemis Company Inc.
- International Paper Company
- WestRock Company
- Amcor Limited
- Mondi plc
- Greif Inc.
Industry News
In June 2019, Balmer Lawrie opened a new industrial packaging plant for steel drums in Gujarat, India. The plant is mainly intended to serve the growing chemical industry in the state in the coming years.
Segmentation
The global Industrial Packaging Market Size is segmented on the basis of packaging type, product type, material, end user, and region.
By packaging type, the global Industrial Packaging Market Size is segmented into flexible and rigid packaging. The flexible packaging segment is expected to dominate the global Industrial Packaging Market Size over the forecast period due to the growing demand for transporting pliable products such as fresh and frozen food.
Based on product type, the global Industrial Packaging Market Size is segmented into bags, boxes, sacks, barrels, tanks, and others. The boxes segment is the dominant revenue generator in the global Industrial Packaging Market Size and is likely to dominate the market over the forecast period due to the ease of making boxes into the desired size and the ability to use boxes for packaging a wide variety of industrial products.
By material, the global Industrial Packaging Market Size is segmented into plastic, metal, paper, and wood. Plastic is likely to remain the dominant material segment in the global Industrial Packaging Market Size over the forecast period due to the growing use of plastic packaging in the industrial sector.
Regional Analysis
Asia Pacific is likely to remain the largest regional market for industrial packaging over the forecast period due to the rapid growth of the industrial sector in this region over the last two decades and the growing demand for electronics, infrastructure, and other consumer products.
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