Industrial Packaging Market- Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2025

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Industrial Packaging Market- Global Industry
Insight, Trends, Outlook, and Opportunity
Analysis 2018-2025

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REPORT DESCRIPTION
Industrial Packaging Market Overview
Industrial packaging is essential for the
packaging of industrial goods and products,
during or after the manufacturing process.
Industrial packaging is different from others
types of packaging. It mainly focusses on the
strength and thickness of the materials used
along with secured lock mechanisms and closures.
Various industries use high-quality packaging to
meet international packaging standards of
providing protective packaging. Industrial goods
are often bulky, heavy, and sensitive to hazards
or external contacts, thus industrial packaging
involves the use of different material such as
stainless steel, wood, and plastics. One of the
major factors propelling the global growth of
this market is rapidly developing construction
industry. According to Coherent Market Insights
report, the global construction industry is
projected to exhibit a CAGR of 5.8 from 2016 to
2021. Moreover, increasing trend of recyclable
and biodegradable packaging materials such as
plastics and paper paperboard materials, along
with increasing consumption of packaged food
items coupled with growing industrialization in
the emerging economies such as India, China, and
Brazil has propelled the market growth.
Advancement in technology such as nanotechnology
in printing and films shows new opportunities for
the growth of industrial packaging.
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REPORT DESCRIPTION
However, fluctuating prices of the raw materials
used for the manufacturing of industrial
packaging products, lack of marketing, branding,
and distribution channels, lack of 100
commitments to the quality standards, and
unavailability of skilled manpower are some of
the major factors restraining the market growth.
Asia Pacific holds the largest market share in
global industrial packaging market. It is
projected to exhibit the fastest CAGR of 7.4
during the forecast period. The emerging
economies in Asia Pacific such as India, China,
South Korea, Vietnam, Malaysia, and Thailand are
expected to propel the growth of industrial
packaging market in the near future. Furthermore,
industries such as petrochemicals, automotive,
agriculture, oil and gas, food and beverages,
chemicals, and metal fabrication have a high
requirement for transportation, safe handling,
and storage. These factors augments the market
growth in Asia Pacific. Among materials,
plastics segment held the dominant position in
2016, with 45.0 market share. Availability of
numerous grades of plastic, easy handling due to
light weight, and due to its chemical inert
property, are some of the major factors driving
the demand for this segment.. Paper and
paperboard accounted as the second largest
segment in 2016, with 29.12 market share. This
is mainly owing to its eco-friendly and
biodegradable materials, which are used by many
end-use industries. Request sample Copy of this
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REPORT DESCRIPTION
Among the end users, chemicals and pharmaceutical
industries has the largest market share in the
industrial packaging market, owing to high
adoption rate of industrial packaging products.
According to American Chemistry Council (ACC),
due to availability of cheap and abundant ethane
and shale gas, there is boom in chemical industry
in U.S, with starting of 294 new projects by
2017. According to U.S International Trade
Administration, the world market of
pharmaceuticals witness a growth rate of 4.9,
and is projected to grow from US 1 trillion to
US 1.3 trillion from 2015 to 2020. Thus,
increase in the demand for packaging of chemical
and pharmaceutical goods is expected to drive the
growth of industrial packaging market over the
forecast period. Major Players in the Global
Industrial Packaging Market Some of the major
players operating in the global Industrial
packaging market include AmeriGlobe LLC, Beacon
Converters, Bemis Company, Aphena Pharma
Solutions, Cascades Inc., International Paper
Company, United Drug Plc, and Sigma Plastics
Group. To Get Discount on this Report
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uest-discount/883
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