Global Industrial Packaging Industry Size, Share, Growth, Trends, Analysis, Future Scope: By Packaging Type (Flexible & Rigid), Materials (Metal, Plastic, Paper, And Wooden), Products (Bags, Boxes, Sacks, Barrels, Tanks, And Others), End-User, And Region – Global Forecast To 2023
Industrial Packaging Industry Overview
Industrial packaging finds wide application in transporting goods from the producer to the end-user. Within the supply chain, often, the goods are delivered from manufacturing hub to the distribution facility, where the goods are packaged for the final user. The surge in demand for industrial packaging is likely to be stimulated primarily by the expansion of the end user industries such as construction, electronics, pharmaceuticals, food & beverage, chemicals, and others. Additionally, the growth of the export and import of goods involving the shipping containers drives the Industrial Packaging Industry to a substantial extent. The shipping container liners find significant application for bulk shipment of goods and commodities. However, strict policies and regulations against the usage of non-degradable packaging might limit the demand for global Industrial Packaging Industry during the forecast period. Industrial goods are heavy, bulky, costlier to transport, and sensitive to external environment. Therefore, it is vital to safeguard the product for prolonged period until transportation. The industrial packaging precisely comes in the form of airtight containers. It protects the content from external contamination. Industrial packaging is primarily differentiated from other types of packaging in terms of thickness, strength, and the level of the protection offered by it. Market Research Future (MRFR) proclaims in their recently published report that the global Industrial Packaging Industry is developing at an incremental pace and the market is likely to grow at 5% CAGR during the forecast period 2017 to 2023.
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The global Industrial Packaging Industry is dominated by key players such as International Paper Company (U.S.), Greif, Inc. (U.S.), Sigma Plastics Group (U.S.), Orora Limited (Australia), AmeriGlobe LLC (U.S.), NEFAB GROUP (Sweden), Mondi plc (Austria), Sealed Air Corporation (U.S.), Bemis Company, Inc. (U.S.), WestRock Company (U.S.), Wuxi Sifang Drums Limited Company (China), Mauser Group (Germany), Schoeller Allibert (The Netherlands), and Sonoco Products Company (U.S.).
The global Industrial Packaging Industry is segmented based on materials, packaging type, end-users, and products. Based on materials, the market is segmented into plastic, metal, wood, and paper. Under the materials segment, plastic ruled the market in 2016. Based on packaging type, the market is segmented into rigid & flexible types. The flexible packaging segment dominates the market owing to the surging need for plastic-based packaging products and assorted application of flexible packaging in different industry verticals. Based on end-user, the market is segmented into construction, food & beverages, electronics, pharmaceuticals, chemicals, and others. Based on products, the market is segmented into tanks, boxes, bags, barrels, sacks, and others. The box segment held the largest market share in 2016 and is estimated to witness growth throughout the forecast period.
Based on geography, the global Industrial Packaging Industry is segmented into Asia Pacific, Europe, North America, and the Rest of the World (RoW). Remarkable growth in the real estate sector of emerging economies of Asia Pacific, such as, India, China, and others, collectively with the rise in population and evolution in the food & beverages industry is propelling the Industrial Packaging Industry considerably. Asia Pacific represents the largest market for industrial packaging and is driven by surging industrialization in the region. The developing economic conditions, rapid industrialization, and availability of cheap labor in the Asia Pacific market stimulates the demand for industrial packaging. Additionally, increasing consumer spending and surging international trade in the region offers stimulus to the growth of the market. Asia Pacific market is closely followed by the North America market. The North America market is witnessing high growth in import and export activities which in turn is impacting the demand for industrial packaging positively. North American Free Trade Agreement (NAFTA) is anticipated to drive the Industrial Packaging Industry growth further. Europe market for industrial packaging reflects steady growth on account of the strong demand from the pharmaceutical and food & beverage industries.
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