Rigid Industrial Packaging Market to incur value growth at 4% CAGR during 2019- 2029

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Packaging

• July 2019

Report Id REP-GB-10086 Published On
July-2019 Category Packaging
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Rigid Industrial Packaging Market Analysis

• Recent research Rigid Industrial Packaging
  Market  to witness steady growth at 4 CAGR by
  2019 - 2029
• VALLEY COTTAGE, New York, July 31,
  2019 /PRNewswire/ -- Rigid industrial packaging
  recorded a volume sales of 1.85 billion units,
  equating a value of US 26 billion in 2018, as
  per the latest report published by Future Market
  Insights (FMI).
• Rigid industrial packaging has been gaining
  rising momentum in a number of commercial sectors
  owing to its enhanced protective capabilities
  against harsh environmental factors. FMI's study
  opines that fast-paced industrialization and
  increasing demand for chemicals and
  pharmaceuticals continue to influence the growth
  prospects of rigid industrial packaging market.
• It's not sufficient for rigid industrial
  packaging to merely contain the product inside.
  FMI's study finds that there is greater awareness
  among manufacturers and suppliers to deliver more
  environmentally acceptable packaging formats.
  Therefore, the futuristic focus revolves around
  technological innovations and sustainable
  solutions that reduce the cost of manufacturing
  as well as the environmental impact.

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Rigid Industrial Packaging Market Analysis

• Manufacturers Capture Opportunities Arising from
  Chemical Industry
• According to the study, one of the important
  growth drivers is an increase in
  inter-continental trade activities, which
  necessitate newer industries such as
  bio-chemical, food grade ingredient, and
  processed food to use rigid industrial
  packaging format. Furthermore, the market remains
  heavily dependent on four key end-use industries
  including chemicals solvent, food beverage,
  oil lubricants, and automotive.
• The study opines that high demand for steel
  drums, pails, and rigid intermediate bulk
  containers (IBCs) from chemicals solvent
  industry continue to influence the growth
  strategies. Additionally, manufacturers are
  focused on increasing the production of plastic
  drums and bulk boxes to capitalize on rapidly
  expanding automotive and food beverage
  industries.
• Despite the cloud swirling around the ill effects
  of plastic, manufacturers continue to use plastic
  as a convenient material for rigid industrial
  packaging, owing to technical and operational
  advantages and lower costs as compared to metals.
  Accounting for 50 revenue share in 2018, sales
  of rigid containers made up of plastic are likely
  to witness significant growth in the future,
  backed further by the lightweight property and
  advances in technologies of polymer processing.
  However, low degradability of plastic will remain
  a key concern among manufacturers as well as end
  users.

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Rigid Industrial Packaging Market Analysis

• As per the study, reuse of containers is gaining
  ground in the rigid industrial packaging space,
  and to align with the current trends,
  manufacturers are placing more focus on RD
  activities and innovations to increase the
  efficiency of products and maximize repeat use.
  The trend of customization has also been
  noticeable in the market, as manufacturers are
  inclining towards offering products that meet end
  users' specific requirements.
• Growth prospects of the rigid industrial
  packaging, as identified by the FMI study, are
  high in East Asia, representing a revenue share
  of 50 in 2018. An exponential rise in
  manufacturing activities in the region along with
  expansion of FB industry has surged the demand
  for safe and contamination-proof packaging.
  Favorable government policies on intercontinental
  trade activities along with increasing number of
  OEMs will continue to create opportunities for
  market players in East Asia.
• The study identifies restraints that could
  possibly hamper the growth of the rigid
  industrial packaging market. Rapid emergence of
  new companies from developing countries, catering
  to the needs of local customers at reasonable
  costs, are likely to squeeze the global player's
  margin in the market. These players are further
  under the pressure from end users to reduce the
  overall costs.

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Rigid Industrial Packaging Market Analysis

• The business intelligence highlights the
  competitive landscape in the rigid industrial
  packaging market, by conducting a thorough
  analysis on the key growth strategies of the
  market players. Acquisitions and partnerships
  with local players remain a strategic focus area
  of key stakeholders for enhanced global
  footprint.
• This study tracks growth of the global rigid
  industrial packaging market from 2019 to 2029.
  The global rigid industrial packaging is likely
  to spectate a steady rise at 4.5 value CAGR over
  the course of the forecast period, according to
  FMI's projections.
• More Related Press-release-
• Polypropylene Packaging Films Market to Reach at
  a CAGR of 6 by 2029
• Steel Drums IBCs Market to Grow at a CAGR of 4
  During 2019 to 2029
• Compostable Foodservice Packaging Market is
  Expected to Grow at a CAGR of 5 During 2019 to
  2029

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Rigid Industrial Packaging Market Analysis

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